However frauds and little frauds. And there's one thing that a fraud constantly does: it always goes to zero - teeka tiwari next bitcoin. 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 enormous hack. And that woke something up for me.
Therefore I can't neglect that. I have actually got to go dig much deeper. teeka tiwari review." Therefore I started taking a trip all around the world. I started going to Bitcoin occasions; I began to talking with people that were smarter than me in this space. And what I realized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The implications of that, of being able to have data that we do not need to have it individually confirmed, it's cryptographically verified. That principle can ripple out throughout the whole greater economy. And when that cent dropped, I understood I had to commit all my professional resources into becoming an expert in this space.
And do you believe, I indicate you discussed something there about not needing to get a third-party, or intermediary to verify 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 completely comprehend validation process [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks do not perhaps understand about these processes, so they do not maybe see what you're stating as this development, they do not see it in their everyday life? Or what do you think of that? I believe that holds true.
It's not as simple as shooting 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 upload your identity documents, then you've got to wait to get confirmed, and then finally, you can go buy some Bitcoin.
So, a great deal of individuals discover that too bothersome, and that's why the individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals that are willing to put in possibly the 20 minutes needed to go through a procedure which just takes 5 minutes if you desire to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we love your concepts, but gosh, setting up a crypto account is so challenging." 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 entire cryptocurrency market will be 10x bigger. So you're actually truly making money an enormous amount of cash to go through possibly, you understand, 20 minutes of a discomfort in the neck (undefined). teeka tiwari picks.
So you can't purchase 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 straight through your trading software. And can you envision what will take place to this entire market when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Today you discussed the procedure that individuals go through, and one thing I wish to bring to light too that you didn't discuss, but I understand a lot of folks who deal with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently before I might begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari picks). I mean, it's if you remember the early days of the Internet, 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 indicate, we remain in the early days of that innovation, but much like during that time period, 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 to individuals who are, specifically someone like yourself, who's dedicated the last, you understand, the lion's share of the last few years to truly go both feet in on this - teeka tiwari palm beach. How do you describe cryptocurrency to like a typical individual? That's an excellent concern.
They're 2 completely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what provides it worth is that it is, there's just going to be a limited quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals continuously try to hack it. However 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 huge 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 currency, you can print an endless amount of it. It's actually not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari glenn beck). 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 demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, because they currently don't believe in their own currency? Yeah, and I think we have actually currently 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 glenn beck. They're like, "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 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 palm beach. And energy coins are basically used, let's say Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is essentially a global computer system that you can write computer system programs for and run computer system programs on a globally decentralized computer program.
So we consider something like Ether an energy token, since you're basically purchasing programs power. So I wouldn't truly think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to give individuals an idea, like a really easy one that I would imagine you 'd called an utility token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's type of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable example, since it's on a lot of various locations and. I do not understand the ins and outs of it, however as an example for someone who might simply be extremely fundamental in their understanding of this, there are so lots of various types of energies that are available.
And you kind of mentioned having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I believe the real opportunity lies in the energy coin area.
There's all of these ICOs that were happening, those slowed down a little bit with some changes to a few things that was going on, however individuals are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And people need to comprehend that not all utility coins are created equivalent - teeka tiwari net worth.
So you have the benefit of committing your profession to this, so you can head out there and do the reconnaissance, you can fulfill the founders, you can examine the code, and so on. However for an average individual, there's now what, over 1,000 different types of coins offered, almost 1,200 I believe. 'Cause generally it'll crash 80% or two. And that's when we actually begin taking a look at the idea in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they resolving an issue that needs to be solved? One of the big drawbacks with extremely clever, technical individuals, is that they like to solve issues that no one appreciates solving. teeka tiwari twitter.
Does the group have experience of executing in an effective way in another area of their life? And it does not even have to be straight associated to cryptocurrency, it doesn't have to be even directly associated to software, right? So, however I wish to see a track record of success in something, right? If it's 4 guys in a space that are simply out of college, unless they have actually got some truly great advisors behind them, I'm probably not going to provide them any money - teeka tiwari review.
Yeah. I believe that in marketing in general, my world of company, we continuously search for problems and how we can resolve them. Now, are the problems things that people are trying to solve a part of the Blockchain normally? Or would you say it's better if they're fixing 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 looking for solutions that, so I'll offer you an example - teeka tiwari net worth. undefined.
And the factor that we purchased it is since they found a method to make documents tamper-proof, and it's 99% more affordable than current technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a track record of creating computer system programs that whole states run their entire operations on, right? So you have actually got alright, the clever person has actually built big computer programs, terrific team, solving an enormous issue that is going to cut substantial costs.
I indicate, it does not get any easier than that in regards to deciding who to put money behind. And a lot of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have an actually easy rule, Ryan. If I don't understand something, I installed my hand, and I say, "I didn't understand what you simply said." Mm-hmm (affirmative).