However scams and little frauds. And there's one thing that a fraud constantly does: it always goes to absolutely no - 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. And that woke something up for me.
And so I can't ignore that. I've got to go dig deeper. teeka tiwari picks." Therefore I started traveling all around the world. I began going to Bitcoin occasions; I began to speaking with people that were smarter than me in this space. And what I recognized is that Blockchain technology and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how huge that is! The implications of that, of being able to have data that we don't need to have it independently verified, it's cryptographically validated. That idea can ripple out throughout the entire greater economy. And when that penny dropped, I knew I needed to commit all my professional resources into becoming an expert in this area.
And do you believe, I suggest you pointed out something there about not needing to get a third-party, or intermediary to verify something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a lot of folks might not even completely understand recognition process [inaudible 00:04:11].
We were just discussing how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you believe that the average folks do not perhaps understand about these procedures, so they do not perhaps see what you're saying as this breakthrough, they don't see it in their everyday life? Or what do you consider that? I believe that holds 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 files, then you have actually got to wait to get confirmed, and after that lastly, you can go purchase some Bitcoin.
So, a lot of people discover that too inconvenient, which's why individuals that are literally making the most amount of cash today 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 want to establish a brokerage account - teeka tiwari twitter.
"Oh Teeka, we like your concepts, but gosh, setting up a crypto account is so hard." What I inform them is I say, "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 larger. So you're actually truly making money a huge amount of cash to go through perhaps, you understand, 20 minutes of a nuisance (undefined). teeka tiwari net worth.
So you can't buy Bitcoin yet through their trading platform, but it is just a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software. And can you picture what will happen to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari - 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 understand a great deal of folks who struggle with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can only purchase $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me forever prior to I might start purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari 5 coins). I suggest, it's if you keep in mind 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 suggest, we're in the early days of that technology, but simply like during that period of time, 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 always curious to talk with individuals who are, especially somebody like yourself, who's dedicated the last, you know, the lion's share of the last couple of years to really go both feet in on this - teeka tiwari picks. How do you explain cryptocurrency to like an average individual? That's an excellent concern.
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 cash. So Bitcoin would be a cryptocurrency. Therefore what gives it value 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 computers, validating the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals continuously attempt to hack it. However since of the nature of the network, today it's been unhackable. And really, with present innovation, the Bitcoin network is so big right now, 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 due to the fact that they're saying, "We don't trust paper currency, you can print an unrestricted quantity of it. It's truly not protect, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (teeka tiwari wikipedia). Or individuals that remained in Cypress, or simply people who have actually suffered through either run-away inflation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, because they currently do not think in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a difficult time getting their head around. teeka tiwari picks. They're like, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. But there are billions of individuals worldwide that don't have steady currencies.
Yeah. And so there's this whole growing worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari twitter. And utility coins are generally used, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially a worldwide computer that you can write computer programs for and run computer programs on a globally decentralized computer system program.
So we think about something like Ether an energy token, due to the fact that you're essentially purchasing shows power. So I would not truly think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to provide people an idea, like an extremely basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's kind of this same type of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on a lot of various locations and. I don't know the ins and outs of it, however as an example for somebody who may simply be very basic in their understanding of this, there are so many various types of utilities that are offered.
And you kind of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably energy based, remedy? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I think the real chance lies in the energy coin space.
There's all of these ICOs that were happening, those decreased a little bit with some modifications to a few 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 need to understand that not all energy coins are created equal - teeka tiwari picks.
So you have the advantage of devoting your occupation to this, so you can head out there and do the recon, you can fulfill the founders, you can inspect the code, and so on. But for a typical individual, there's now what, over 1,000 various kinds of coins available, practically 1,200 I believe. 'Cause generally it'll crash 80% or two. And that's when we actually start taking a look at the concept in more detail. So here are some quick and filthy things that you should look at, right? So, one is, are they fixing a problem that requires to be solved? Among the big disadvantages with really clever, technical individuals, is that they like to fix issues that nobody cares about solving. teeka tiwari 5 coins.
Does the group have experience of performing in a successful way in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it does not need to be even directly related to software, right? So, however I wish to see a track record of success in something, right? If it's four guys in a space that are simply out of college, unless they have actually got some actually great consultants behind them, I'm most likely not going to provide any cash - teeka tiwari 5 coins.
Yeah. I think that in marketing in basic, my world of service, we constantly look for problems and how we can fix them. Now, are the issues things that individuals are attempting to resolve a part of the Blockchain generally? Or would you state it's better if they're resolving 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 generally looking for solutions that, so I'll provide you an example - glenn beck teeka tiwari. undefined.
And the reason that we purchased it is because they found a way to make files tamper-proof, and it's 99% less expensive than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that began 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 wise person has actually built big computer system programs, excellent group, resolving a massive issue that is going to cut huge costs.
I mean, it doesn't get any simpler than that in regards to deciding 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 an actually easy guideline, Ryan. If I do not understand something, I installed my hand, and I say, "I didn't understand what you just said." Mm-hmm (affirmative).