But scams and little scams. And there's something that a scams always does: it always goes to absolutely no - teeka tiwari 5 coins. 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. And that woke something up for me.
Therefore I can't neglect that. I've got to go dig much deeper. teeka tiwari picks." And so I started taking a trip all around the world. I began going to Bitcoin events; I started to speaking to people that were smarter than me in this space. And what I recognized is that Blockchain technology and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The implications of that, of having the ability to have data that we don't require to have it independently verified, it's cryptographically confirmed. That principle can ripple out throughout the whole greater economy. And when that penny dropped, I knew I had to commit all my professional resources into becoming a specialist in this space.
And do you think, I mean you mentioned something there about not having 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 great deal of folks might not even totally understand recognition procedure [inaudible 00:04:11].
We were just speaking about how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and then all of a sudden there's other people getting informed about it, like the Internal Revenue Service and things like that. Do you believe that the average folks do not maybe understand about these processes, so they do not perhaps see what you're stating as this advancement, they do not see it in their daily life? Or what do you think of that? I believe that's true.
It's not as simple as firing up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You have actually got to go to an exchange, you've got to submit your identity files, then you've got to wait to get confirmed, and then lastly, you can go purchase some Bitcoin.
So, a great deal of individuals find that too troublesome, and that's why individuals that are literally making the most amount of money right now in cryptocurrencies are the early adopters: individuals that want to put in perhaps the 20 minutes required to go through a process which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari 5 coins.
"Oh Teeka, we like your ideas, however gosh, setting up a crypto account is so challenging." What I inform them is I state, "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 really earning money a huge amount of money to go through possibly, you know, 20 minutes of a discomfort in the neck (undefined). teeka tiwari palm beach.
So you can't buy Bitcoin yet through their trading platform, but it is just a question of time, Ryan, prior to you'll be able to purchase cryptocurrencies directly through your trading software application. And can you imagine what will occur to this entire marketplace when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari palm beach - undefined.
Right now you mentioned the procedure that people go through, and something I wish to bring to light too that you didn't discuss, however I know a lot of folks who deal with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can only buy $500 a week.
As tough as possible, best, like Coinbase. It 'd take me forever before I could start purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (glenn beck teeka tiwari). I suggest, 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 load 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're in the early days of that innovation, however just like during that time period, for the folks that had the vision to see where the future was going, and after that bought in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a second, since I'm constantly curious to talk with people who are, particularly somebody like yourself, who's dedicated the last, you know, the lion's share of the last couple of years to truly go both feet in on this - teeka tiwari palm beach. How do you explain cryptocurrency to like an average person? That's an excellent question.
They're 2 totally various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. And so what provides it value is that it is, there's just going to be a minimal quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the deals on the Bitcoin network. And so if you look at that Bitcoin network, people continuously attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And truly, with present 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 stating, "We don't rely on fiat money, you can print a limitless 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], go on.
Yeah (teeka tiwari net worth). Or people that were in Cypress, or simply people who have suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, since they currently do not believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a bumpy ride getting their head around. teeka tiwari palm beach. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin. However there are billions of people worldwide that do not have steady currencies.
Yeah. And so there's this entire blossoming 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 utility coins are essentially utilized, let's say Ethereum, which a lot 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 globally decentralized computer program.
So we consider something like Ether an energy token, due to the fact that you're essentially purchasing programming power. So I would not actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to give people a concept, like a really easy 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 type of network result that you have with Bitcoin, where it's like unstoppable example, because it's on many various locations and. I don't understand the ins and outs of it, but as an example for somebody who might simply be very basic in their understanding of this, there are many various types of utilities that are readily available.
And you kind of pointed out having this boots on the ground experience. Now, since we're looking at the bulk of these are probably energy based, fix? Mm-hmm (affirmative). The majority of the coins that I advise and look at are utility-based. We have a few cryptocurrencies, but I think the real opportunity depends on the energy coin area.
There's all of these ICOs that were occurring, those slowed down a little bit with some modifications to a few things that was going on, but people are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And individuals require to understand that not all energy coins are developed equal - teeka tiwari net worth.
So you have the advantage of devoting your profession to this, so you can go out there and do the recon, you can meet the founders, you can check the code, and so on. But for an average person, there's now what, over 1,000 various types of coins available, practically 1,200 I think. 'Cause normally it'll crash 80% or so. Which's when we truly begin taking a look at the concept in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they resolving a problem that needs to be resolved? Among the big downsides with very clever, technical people, is that they like to fix problems that no one cares about solving. teeka tiwari 5 coins.
Does the team have experience of executing in a successful way in another area of their life? And it does not even have to be straight associated to cryptocurrency, it doesn't need to be even directly related to software, right? So, but I wish to see a track record of success in something, right? If it's four people in a room that are simply out of college, unless they've got some truly good consultants behind them, I'm probably not going to offer them any cash - teeka tiwari 5 coins.
Yeah. I think that in marketing in general, my world of business, we constantly look for issues and how we can solve them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain typically? Or would you state it's much better if they're fixing kind 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 basically searching for options 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 discovered a way to make files tamper-proof, and it's 99% less expensive than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that began it has a track record of creating computer system programs that entire states run their entire operations on, right? So you've got all right, the wise man has built big computer programs, terrific group, solving an enormous problem that is going to cut substantial costs.
I suggest, it doesn't get any simpler than that in terms of choosing who to put money behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have a really simple guideline, Ryan. If I don't understand something, I installed my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).