However frauds and little frauds. And there's one thing that a fraud always does: it always goes to no - teeka tiwari next bitcoin. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The massive hack. Which woke something up for me.
Therefore I can't overlook that. I've got to go dig much deeper. teeka tiwari review." And so I started taking a trip all around the world. I started going to Bitcoin occasions; I started to speaking to people that were smarter than me in this space. And what I recognized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how massive that is! The ramifications of that, of having the ability to have data that we do not need to have it independently verified, it's cryptographically confirmed. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I knew I needed to commit all my expert resources into ending up being an expert in this area.
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 reason that this isn't getting as much mass adoption is that a lot of folks may not even fully understand validation procedure [inaudible 00:04:11].
We were simply speaking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and then suddenly there's other people getting alerted about it, like the IRS and things like that. Do you believe that the average folks don't maybe learn about these procedures, so they do not maybe see what you're stating as this breakthrough, they do not see it in their everyday life? Or what do you consider that? I believe 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 submit your identity documents, then you have actually got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a great deal of individuals find that too inconvenient, and that's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes needed to go through a process which simply takes five minutes if you wish to establish a brokerage account - teeka tiwari net worth.
"Oh Teeka, we enjoy your ideas, however gosh, establishing 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 bigger. So you're in fact truly earning money a massive quantity of cash to go through possibly, you know, 20 minutes of a headache (undefined). teeka tiwari wikipedia.
So you can't buy Bitcoin yet through their trading platform, but it is just a question of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you envision what will occur to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari net worth - undefined.
Today you pointed out the process that people go through, and something I want to bring to light too that you didn't mention, however I know a great deal of folks who deal with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently prior to I might start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari palm beach). I mean, it's if you remember the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I suggest it would take 20 minutes to fill a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I mean, we're in the early days of that innovation, 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 business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm always curious to talk with people who are, specifically someone like yourself, who's dedicated the last, you know, the bulk of the last couple of years to truly go both feet in on this - teeka tiwari picks. How do you describe cryptocurrency to like an average individual? That's a great concern.
They're two completely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what offers 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, individuals continuously attempt to hack it. However because of the nature of the network, today it's been unhackable. And really, with current 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 have actually got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not rely on fiat money, you can print an unrestricted quantity of it. It's truly not secure, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari 5 coins). Or people that were in Cypress, or simply individuals who have actually suffered through either run-away inflation, or there's a high demand for, in Argentina for instance, high demand 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 do not believe in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride getting their head around. teeka tiwari next bitcoin. They resemble, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin. But there are billions of people worldwide that don't have steady currencies.
Yeah. Therefore there's this entire growing international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari review. And energy coins are essentially used, let's state Ethereum, which a great deal of people know about Ethereum. Ethereum is basically a global computer system that you can compose computer system programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, since you're essentially buying programming power. So I would not truly think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to offer people a concept, like a very 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 exact same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on many different areas and. I do not know the ins and outs of it, but as an example for somebody who might just be extremely standard in their understanding of this, there are many various kinds of utilities that are readily available.
And you sort of discussed having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I believe the real opportunity depends on the energy coin space.
There's all of these ICOs that were occurring, 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 start to produce utility coins- Correct, yeah. And people require to comprehend that not all energy coins are developed equal - teeka tiwari net worth.
So you have the benefit of dedicating your profession to this, so you can head out there and do the reconnaissance, you can meet the creators, you can examine the code, and so on. But for an average individual, there's now what, over 1,000 different kinds of coins available, nearly 1,200 I believe. 'Cause typically it'll crash 80% or two. Which's when we truly begin looking at the idea in more detail. So here are some quick and dirty things that you should look at, right? So, one is, are they resolving an issue that requires to be resolved? Among the huge drawbacks with extremely smart, technical people, is that they like to solve issues that no one cares about solving. teeka tiwari reviews.
Does the team have experience of performing in an effective manner in another area of their life? And it does not even need to be straight related to cryptocurrency, it does not need to be even directly related to software application, right? So, however I want to see a track record of success in something, right? If it's 4 men in a space that are just out of college, unless they've got some really great consultants behind them, I'm probably not going to provide them any money - teeka tiwari twitter.
Yeah. I believe that in marketing in basic, my world of service, we continuously try to find problems and how we can solve them. Now, are the issues things that people are trying to solve a part of the Blockchain normally? Or would you state it's better if they're resolving type of a mass problem? Something like FileCoin, or something else that would be more mass appeal? Or is it a mix of both? Well I'm essentially trying to find solutions that, so I'll provide you an example - teeka tiwari. undefined.
And the reason that we bought it is due to the fact that they found a way to make documents tamper-proof, and it's 99% cheaper than current technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that started it has a performance history of producing computer system programs that whole states run their whole operations on, right? So you've got all right, the smart person has actually developed substantial computer system programs, great group, solving a massive problem that is going to cut huge expenses.
I indicate, it does not get any simpler than that in terms of deciding who to put cash behind. And a lot of this is typical sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a truly simple guideline, Ryan. If I do not comprehend something, I installed my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).