But frauds and small scams. And there's one thing that a scams always does: it constantly goes to no - teeka tiwari twitter. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The huge hack. Which woke something up for me.
And so I can't neglect that. I've got to go dig deeper. teeka tiwari review." And so I started taking a trip all around the world. I began going to Bitcoin events; I started to speaking with individuals that were smarter than me in this area. And what I recognized is that Blockchain technology and the execution of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how huge that is! The ramifications of that, of having the ability to have information that we don't need to have it separately verified, it's cryptographically confirmed. That principle can ripple out throughout the entire higher economy. And when that cent dropped, I understood I had to devote all my expert resources into becoming a professional in this space.
And do you believe, I suggest you mentioned something there about not needing 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 great deal of folks might not even completely comprehend recognition process [inaudible 00:04:11].
We were just speaking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then all of an unexpected there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the average folks do not possibly know about these processes, so they do not perhaps see what you're saying as this advancement, they don't see it in their everyday life? Or what do you think of that? I believe that's true.
It's not as simple as shooting 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've got to submit 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 find that too inconvenient, and that's why individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals that want to put in perhaps the 20 minutes needed to go through a procedure which just takes 5 minutes if you wish to establish a brokerage account - teeka tiwari next bitcoin.
"Oh Teeka, we enjoy your ideas, but gosh, establishing a crypto account is so hard." What I inform them is I state, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The whole cryptocurrency market will be 10x larger. So you're in fact really earning money a massive quantity of cash to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari palm beach.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software. And can you envision what will happen to this entire market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Right now you mentioned the procedure that individuals go through, and something I desire to expose too that you didn't discuss, however I understand a great deal of folks who deal with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me permanently before I might start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari picks). I imply, it's if you keep in mind the early days of the Internet, when we were getting on the Internet, we were doing it with 56k modems, right? I suggest it would take 20 minutes to pack a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I suggest, we remain in the early days of that innovation, but much like during that period of time, for the folks that had the vision to see where the future was going, and then bought in on a few of these young business, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a second, due to the fact that I'm always curious to talk with people who are, specifically someone like yourself, who's committed the last, you know, the bulk of the last few years to actually go both feet in on this - teeka tiwari reviews. How do you describe cryptocurrency to like an average individual? That's a fantastic question.
They're two totally different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's just going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, people constantly try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, with existing technology, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not trust paper currency, you can print an unlimited 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, right [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari twitter). Or people that were in Cypress, or simply individuals who have suffered through either hyperinflation, or there's a high demand 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, due to the fact that they currently don't believe in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a bumpy ride getting their head around. teeka tiwari twitter. They resemble, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin. However there are billions of individuals worldwide that don't have stable currencies.
Yeah. And so there's this whole blossoming global demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari review. And utility coins are basically utilized, let's say Ethereum, which a lot of people know about Ethereum. Ethereum is essentially a global computer system that you can compose computer programs for and run computer system programs on a worldwide decentralized computer system program.
So we think about something like Ether an energy token, since you're basically buying shows power. So I wouldn't truly think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari picks. And there are other ones out there, to give people an idea, like an extremely easy one that I would envision you 'd called an utility token, resembles FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's kind of this same type of network impact that you have with Bitcoin, where it's like unstoppable example, because it's on many various areas and. I don't understand the ins and outs of it, however as an example for someone who might just be very basic in their understanding of this, there are so lots of different types of energies that are offered.
And you sort of pointed out having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely utility based, correct? Mm-hmm (affirmative). The majority of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, however I think the real opportunity lies in the utility coin area.
There's all of these ICOs that were happening, those decreased a bit with some changes to a few things that was going on, however people are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And people require to understand that not all energy coins are created equivalent - teeka tiwari review.
So you have the advantage of devoting your profession to this, so you can head out there and do the reconnaissance, you can meet the creators, you can inspect the code, and so on. However for an average person, there's now what, over 1,000 various types of coins available, practically 1,200 I think. 'Cause typically it'll crash 80% approximately. And that's when we truly begin looking at the concept in more information. So here are some quick and filthy things that you should look at, right? So, one is, are they solving an issue that requires to be resolved? Among the huge downsides with very wise, technical people, is that they like to solve problems that no one cares about fixing. teeka tiwari net worth.
Does the group have experience of performing in a successful way in another location of their life? And it does not even need to be straight associated to cryptocurrency, it does not have to be even directly associated to software, right? So, but I want to see a performance history of success in something, right? If it's four men in a space that are simply out of college, unless they have actually got some actually great consultants behind them, I'm most likely not going to provide any money - teeka tiwari net worth.
Yeah. I think that in marketing in basic, my world of organization, we constantly try to find issues and how we can fix them. Now, are the issues things that people are attempting to fix a part of the Blockchain typically? Or would you say it's better if they're fixing sort 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 generally trying to find options that, so I'll give you an example - teeka tiwari twitter. undefined.
And the factor that we bought it is since they found a way to make documents tamper-proof, and it's 99% cheaper than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that began it has a performance history of creating computer system programs that whole states run their whole operations on, right? So you have actually got fine, the clever man has actually constructed huge computer programs, terrific team, fixing an enormous problem that is going to cut huge expenses.
I indicate, it doesn't get any easier than that in terms of deciding who to put money behind. And a great deal of this is typical sense, and a lot of folks will attempt to make things more complex than it is. And I have a really easy rule, Ryan. If I don't understand something, I installed my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).