However frauds and little scams. And there's one thing that a scams always does: it always goes to zero - teeka tiwari glenn beck. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. And that woke something up for me.
And so I can't overlook that. I have actually got to go dig deeper. teeka tiwari glenn beck." Therefore I started taking a trip all around the world. I began going to Bitcoin events; I started to talking to people that were smarter than me in this space. And what I recognized is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The implications of that, of having the ability to have data that we do not need to have it separately validated, it's cryptographically confirmed. That principle can ripple out throughout the entire greater economy. And when that penny dropped, I understood I needed to commit all my professional resources into ending up being a specialist in this area.
And do you think, I suggest you discussed something there about not having to get a third-party, or intermediary to confirm something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a lot of folks might not even completely understand recognition process [inaudible 00:04:11].
We were simply discussing how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and then suddenly there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you believe that the average folks don't maybe learn about these procedures, so they do not possibly see what you're saying as this breakthrough, they do not see it in their daily life? Or what do you think of that? I think that holds true.
It's not as simple as firing up a web internet browser and going to e-trade. com and pressing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to publish your identity files, then you have actually got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a great deal of people discover that too inconvenient, which's why the individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that are willing to put in perhaps the 20 minutes required to go through a procedure which just takes 5 minutes if you desire to establish a brokerage account - glenn beck teeka tiwari.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so challenging." What I inform them is I say, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The entire cryptocurrency market will be 10x larger. So you're in fact truly earning money an enormous quantity of money to go through maybe, you understand, 20 minutes of a headache (undefined). teeka tiwari glenn beck.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll have the ability to buy cryptocurrencies straight through your trading software application. And can you imagine what will take place to this whole marketplace when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari next bitcoin - undefined.
Today you discussed the process that individuals go through, and one thing I wish to bring to light too that you didn't discuss, however I know a lot of folks who have a hard time with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As tough as possible, best, like Coinbase. It 'd take me forever prior to I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari 5 coins). I mean, it's if you remember the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I indicate it would take 20 minutes to load a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I imply, we're in the early days of that technology, but simply like during that period of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm always curious to talk to people who are, particularly someone like yourself, who's devoted the last, you know, the bulk of the last couple of years to really go both feet in on this - teeka tiwari twitter. How do you explain cryptocurrency to like an average person? That's a terrific concern.
They're two absolutely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. And so what offers it worth is that it is, there's only going to be a limited quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, people constantly attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And truly, with existing technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you've got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We don't trust paper cash, you can print a limitless amount of it. It's really not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go on.
Yeah (teeka tiwari wikipedia). Or individuals that remained in Cypress, or simply people who have suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, because they already don't believe in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. teeka tiwari review. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. However there are billions of individuals on the planet that don't have steady currencies.
Yeah. Therefore there's this entire growing international need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari picks. And energy coins are basically utilized, let's state Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially a worldwide computer system that you can write computer programs for and run computer system programs on a worldwide decentralized computer system program.
So we consider something like Ether an utility token, due to the fact that you're basically buying shows power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to offer individuals an idea, like an extremely easy one that I would picture you 'd called an energy token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's type of this exact same type of network result that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on a lot of different areas and. I do not know the ins and outs of it, however as an example for somebody who might just be extremely fundamental in their understanding of this, there are a lot of various types of energies that are readily available.
And you type of discussed having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely energy based, remedy? Mm-hmm (affirmative). Many of the coins that I advise and look at are utility-based. We have a few cryptocurrencies, but I think the genuine opportunity lies in the utility coin space.
There's all of these ICOs that were taking place, those decreased a little bit with some changes to a few things that was going on, but people are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And individuals require to understand that not all energy coins are developed equal - teeka tiwari picks.
So you have the advantage of devoting your profession to this, so you can go out there and do the reconnaissance, you can satisfy the founders, you can examine the code, etc. However for a typical individual, there's now what, over 1,000 various types of coins offered, nearly 1,200 I think. 'Cause typically it'll crash 80% approximately. Which's when we actually begin taking a look at the concept in more detail. So here are some quick and unclean things that you should look at, right? So, one is, are they solving a problem that needs to be fixed? Among the huge downsides with really clever, technical people, is that they like to fix problems that nobody cares about solving. teeka tiwari glenn beck.
Does the group have experience of carrying out in a successful way in another area of their life? And it does not even have to be directly associated to cryptocurrency, it doesn't have to be even directly associated to software application, right? So, however I wish to see a track record of success in something, right? If it's 4 people in a space that are simply out of college, unless they have actually got some actually great advisors behind them, I'm probably not going to provide them any cash - teeka tiwari palm beach.
Yeah. I think that in marketing in basic, my world of business, we continuously search for problems and how we can fix them. Now, are the issues things that individuals are attempting to resolve a part of the Blockchain typically? Or would you state it's better if they're resolving kind of a mass issue? Something like FileCoin, or something else that would be more mass appeal? Or is it a mix of both? Well I'm basically trying to find options that, so I'll give you an example - teeka tiwari net worth. undefined.
And the reason that we bought it is due to the fact that they discovered a way to make files tamper-proof, and it's 99% cheaper than present technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a performance history of developing computer programs that whole states run their entire operations on, right? So you have actually got all right, the clever person has actually constructed huge computer programs, terrific group, solving a massive problem that is going to cut huge expenses.
I indicate, it doesn't get any simpler than that in terms of choosing who to put cash behind. And a great deal of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have a truly easy rule, Ryan. If I don't comprehend something, I put up my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).