However frauds and little scams. And there's one thing that a scams constantly does: it always goes to zero - teeka tiwari review. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The enormous hack. Which woke something up for me.
Therefore I can't ignore that. I have actually got to go dig much deeper. teeka tiwari glenn beck." And so I started taking a trip all around the world. I began going to Bitcoin occasions; I began to talking to individuals that were smarter than me in this area. And what I understood is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have data that we do not need to have it independently validated, it's cryptographically validated. That concept can ripple out throughout the entire higher economy. And when that penny dropped, I understood I needed to dedicate all my professional resources into ending up being an expert in this space.
And do you think, I mean you pointed out something there about not needing to get a third-party, or intermediary to validate something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a lot of folks may not even totally understand validation procedure [inaudible 00:04:11].
We were simply discussing how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other people getting notified about it, like the IRS and things like that. Do you believe that the typical folks do not maybe know about these processes, so they don't perhaps see what you're stating as this breakthrough, they do not see it in their daily life? Or what do you think of that? I believe that holds true.
It's not as easy as firing up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You've got to go to an exchange, you've 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 lot of individuals find that too bothersome, which's why individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes required to go through a procedure which just takes five minutes if you wish to set up a brokerage account - teeka tiwari next bitcoin.
"Oh Teeka, we like your ideas, but gosh, setting up a crypto account is so hard." What I inform them is I say, "Look, when it's easy 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 truly getting paid a massive amount of cash to go through perhaps, you understand, 20 minutes of a nuisance (undefined). teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you picture what will take place to this whole market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Right now you pointed out the process that individuals go through, and something I wish to bring to light too that you didn't mention, but I know a lot of folks who battle with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can just buy $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me permanently prior to I might begin buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari wikipedia). I imply, it's if you keep in mind the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I indicate 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 imply, we remain in the early days of that technology, but similar to during that amount of time, for the folks that had the vision to see where the future was going, and then bought in on some of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, due to the fact that I'm constantly curious to speak with people who are, particularly 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 - glenn beck teeka tiwari. How do you explain cryptocurrency to like an average individual? That's a fantastic concern.
They're 2 completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. And so what offers it value is that it is, there's just going to be a restricted amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
And so when people put, you have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't rely on fiat money, you can print an unlimited quantity of it. It's really not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari net worth). Or individuals that remained in Cypress, or simply people who have suffered through either run-away inflation, 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 driver for more adoption, since they currently don't think in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a great deal of American or Western investors have a difficult time getting their head around. teeka tiwari 5 coins. They resemble, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. But there are billions of individuals in the world that don't have stable currencies.
Yeah. And so there's this entire burgeoning international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari reviews. And utility coins are basically used, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially an international computer system that you can write computer system programs for and run computer system programs on a worldwide decentralized computer system program.
So we consider something like Ether an energy token, since you're essentially buying shows power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari picks. And there are other ones out there, to provide individuals an idea, like a really basic one that I would envision you 'd called an utility token, resembles FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's sort of this same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on so lots of various areas and. I do not understand the ins and outs of it, however as an example for someone who may just be very basic in their understanding of this, there are numerous different types of energies that are available.
And you type of discussed having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, but I believe the genuine chance lies in the utility coin space.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a couple of things that was going on, however individuals are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And people need to understand that not all utility coins are developed equivalent - teeka tiwari glenn beck.
So you have the advantage of dedicating your occupation 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. But for a typical person, there's now what, over 1,000 various kinds of coins readily available, nearly 1,200 I believe. 'Cause generally it'll crash 80% or two. Which's when we actually start looking at the concept in more detail. So here are some fast and unclean things that you should take a look at, right? So, one is, are they solving a problem that requires to be fixed? One of the huge drawbacks with very smart, technical individuals, is that they like to fix problems that nobody cares about resolving. teeka tiwari 5 coins.
Does the team have experience of performing in a successful manner in another area of their life? And it doesn't even have to be directly related to cryptocurrency, it does not need to be even straight related to software, right? So, however I desire to see a performance history of success in something, right? If it's four people in a space that are simply out of college, unless they have actually got some really great advisors behind them, I'm probably not going to offer them any money - teeka tiwari wikipedia.
Yeah. I think that in marketing in basic, my world of business, we continuously look for problems and how we can fix them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain normally? Or would you say it's much better if they're solving type 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 looking for services that, so I'll provide you an example - teeka tiwari wikipedia. undefined.
And the factor that we bought it is since they discovered a way to make files tamper-proof, and it's 99% cheaper than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that started it has a performance history of creating computer programs that entire states run their entire operations on, right? So you've got alright, the wise guy has constructed huge computer system programs, excellent team, solving a huge issue that is going to cut huge expenses.
I indicate, it doesn't get any simpler than that in regards to deciding who to put cash behind. And a lot of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have an actually simple rule, Ryan. If I don't comprehend something, I installed my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).