But scams and small frauds. And there's something that a fraud always does: it always goes to no - teeka tiwari net worth. But 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. And that woke something up for me.
Therefore I can't overlook that. I've got to go dig deeper. teeka tiwari wikipedia." Therefore I started traveling all around the world. I began going to Bitcoin events; I began to talking with individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the execution of Blockchain innovation 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 information that we do not require to have it independently verified, it's cryptographically confirmed. That idea can ripple out throughout the entire higher economy. And when that penny dropped, I understood I had to commit all my professional resources into ending up being a specialist in this space.
And do you believe, I imply you mentioned 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 might not even fully comprehend recognition procedure [inaudible 00:04:11].
We were just talking about how I'm delegating go to China, to China. And heaven forbid 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 think that the typical folks don't possibly know about these procedures, so they don't possibly see what you're stating as this development, they do not see it in their daily life? Or what do you consider that? I think that's true.
It's not as easy as firing up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You've got to go to an exchange, you've got to submit your identity documents, then you have actually got to wait to get verified, and then lastly, you can go purchase some Bitcoin.
So, a great deal of people discover that too troublesome, which's why individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals that are prepared to put in perhaps the 20 minutes required to go through a procedure which just takes five minutes if you wish to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we like your concepts, however gosh, establishing a crypto account is so tough." 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 entire cryptocurrency market will be 10x larger. So you're actually really getting paid an enormous amount of cash to go through possibly, you understand, 20 minutes of a headache (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 purchase cryptocurrencies directly through your trading software application. And can you envision what will occur to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari net worth - undefined.
Right now you discussed the process that people go through, and something I want to expose too that you didn't discuss, but I understand a lot of folks who have problem with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only purchase $500 a week.
As hard as possible, right, 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 purchase $500 a week, Teeka (teeka tiwari review). I imply, it's if you remember the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I mean 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 mean, we're in the early days of that technology, but just like during that time period, for the folks that had the vision to see where the future was going, and then purchased in on a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, since I'm always curious to speak to people who are, specifically someone like yourself, who's dedicated the last, you understand, the lion's share of the last couple of years to really go both feet in on this - teeka tiwari glenn beck. How do you describe cryptocurrency to like a typical individual? That's a fantastic question.
They're 2 absolutely different 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 offers it value is that it is, there's only going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people constantly try to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And really, 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 individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We don't rely on fiat money, you can print an endless quantity of it. It's really not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go on.
Yeah (teeka tiwari review). Or people that remained in Cypress, or just 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 catalyst for more adoption, due to the fact that they already don't believe in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western investors have a hard time getting their head around. teeka tiwari reviews. They resemble, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of individuals worldwide that don't have stable currencies.
Yeah. Therefore there's this entire burgeoning worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - glenn beck teeka tiwari. And utility coins are generally used, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially an international computer that you can compose computer programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, due to the fact that you're basically purchasing programs power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to give individuals a concept, like a really basic one that I would envision 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 sort of this very same kind of network effect that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on many various areas and. I don't understand 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 so lots of various kinds of utilities that are available.
And you sort of discussed having this boots on the ground experience. Now, considering that 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 couple of cryptocurrencies, but I believe the genuine chance lies in the utility coin area.
There's all of these ICOs that were happening, those decreased a little bit with some modifications to a couple of things that was going on, but individuals are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And individuals require to comprehend that not all energy coins are produced equal - teeka tiwari glenn beck.
So you have the advantage of devoting your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the founders, you can inspect the code, and so on. However for an average individual, there's now what, over 1,000 different types of coins offered, nearly 1,200 I believe. 'Cause normally it'll crash 80% or so. Which's when we really start looking at the idea in more information. So here are some fast and filthy things that you should take a look at, right? So, one is, are they solving an issue that requires to be solved? One of the huge disadvantages with really smart, technical individuals, is that they like to fix issues that nobody cares about fixing. teeka tiwari wikipedia.
Does the team have experience of performing in a successful way in another area of their life? And it doesn't even need to be directly associated to cryptocurrency, it does not need to be even straight associated to software, right? So, but I want to see a track record of success in something, right? If it's four guys in a space that are just out of college, unless they've got some really good consultants behind them, I'm most likely not going to offer them any money - teeka tiwari palm beach.
Yeah. I think that in marketing in general, my world of company, we constantly look for issues and how we can solve them. Now, are the issues things that individuals are trying to solve a part of the Blockchain normally? Or would you state it's much 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 essentially searching for solutions that, so I'll offer you an example - teeka tiwari next bitcoin. undefined.
And the factor that we purchased it is due to the fact that they discovered a method to make documents tamper-proof, and it's 99% cheaper than existing technology, 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 producing computer programs that entire states run their entire operations on, right? So you've got fine, the clever person has actually constructed big computer programs, great group, solving an enormous problem that is going to cut huge expenses.
I indicate, it doesn't 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 complicated than it is. And I have a really simple rule, Ryan. If I do not comprehend something, I put up my hand, and I say, "I didn't understand what you simply stated." Mm-hmm (affirmative).