However frauds and little frauds. And there's something that a fraud always does: it constantly goes to absolutely no - teeka tiwari palm beach. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. Which woke something up for me.
Therefore I can't disregard that. I have actually got to go dig much deeper. teeka tiwari reviews." And so I started traveling all around the world. I started going to Bitcoin occasions; I began to speaking to people that were smarter than me in this space. And what I recognized is that Blockchain innovation and the implementation 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 information that we do not need to have it individually confirmed, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I knew I needed to dedicate all my expert resources into becoming a professional in this area.
And do you believe, I imply you pointed out something there about not having to get a third-party, or intermediary to confirm 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 fully understand validation process [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and after that all of an abrupt there's other individuals getting notified about it, like the IRS and things like that. Do you think that the typical folks don't perhaps learn about these procedures, so they do not maybe see what you're saying as this development, they don't see it in their everyday life? Or what do you consider that? I believe that's true.
It's not as simple as firing up a web browser and going to e-trade. com and pressing a buy button and buying it, right? You've got to go to an exchange, you've got to publish your identity documents, then you've got to wait to get verified, and then lastly, you can go buy some Bitcoin.
So, a great deal of people discover that too inconvenient, and that's why individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes needed to go through a process which just takes five minutes if you wish to establish a brokerage account - teeka tiwari review.
"Oh Teeka, we like your ideas, however gosh, setting up 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 entire cryptocurrency market will be 10x larger. So you're actually truly getting paid a massive quantity of cash to go through maybe, you know, 20 minutes of a pain in the neck (undefined). teeka tiwari picks.
So you can't buy Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies directly through your trading software application. And can you imagine what will occur to this whole market when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari 5 coins - undefined.
Right now you mentioned the process that individuals go through, and one thing I wish to bring to light too that you didn't discuss, however I know a lot of folks who battle with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just buy $500 a week.
As hard as possible, best, like Coinbase. It 'd take me permanently prior to I might start buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari wikipedia). I indicate, 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 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 imply, we're in the early days of that innovation, but similar to throughout 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, due to the fact that I'm always curious to speak to individuals who are, particularly someone like yourself, who's committed the last, you understand, the much better part of the last few years to actually go both feet in on this - teeka tiwari review. How do you explain cryptocurrency to like an average person? That's an excellent concern.
They're two completely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what offers it value is that it is, there's only going to be a limited quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We don't rely on paper money, you can print an endless amount of it. It's really not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari review). Or individuals that remained in Cypress, or simply people who have suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, since they currently don't think in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a bumpy ride getting their head around. teeka tiwari palm beach. 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 do not need Bitcoin. But there are billions of people in the world that do not have steady currencies.
Yeah. Therefore there's this whole growing worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari palm beach. And utility coins are essentially used, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a global computer system that you can write computer system programs for and run computer system programs on an internationally decentralized computer program.
So we consider something like Ether an energy token, because 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 picks. And there are other ones out there, to provide people a concept, like a very simple one that I would imagine 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 type of this exact same type of network effect that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on numerous different areas and. I don't know the ins and outs of it, but as an example for somebody who may just be very standard in their understanding of this, there are many different kinds of utilities that are readily available.
And you type of pointed out having this boots on the ground experience. Now, since we're looking at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). The majority of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, but I think the genuine opportunity depends on the utility coin space.
There's all of these ICOs that were occurring, those slowed down a bit with some modifications to a few things that was going on, but individuals are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And people require to understand that not all utility coins are created equal - teeka tiwari.
So you have the advantage of devoting your occupation to this, so you can go out there and do the reconnaissance, you can satisfy the creators, you can inspect the code, etc. But for a typical person, there's now what, over 1,000 different kinds of coins available, almost 1,200 I believe. 'Cause normally it'll crash 80% or so. And that's when we actually start looking at the concept in more information. So here are some fast and unclean things that you should take a look at, right? So, one is, are they fixing an issue that needs to be solved? Among the huge disadvantages with really wise, technical individuals, is that they like to fix problems that no one cares about fixing. teeka tiwari reviews.
Does the team have experience of carrying out in a successful way in another location of their life? And it does not even have to be directly related to cryptocurrency, it does not have 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 men in a space that are just out of college, unless they have actually got some actually good consultants behind them, I'm most likely not going to provide them any money - teeka tiwari 5 coins.
Yeah. I believe that in marketing in basic, my world of organization, we constantly search for problems and how we can fix them. Now, are the problems things that people are attempting to solve a part of the Blockchain typically? Or would you state it's much 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 searching for solutions that, so I'll give you an example - teeka tiwari review. undefined.
And the reason that we purchased it is because they found a method to make documents tamper-proof, and it's 99% more affordable than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that started it has a performance history of developing computer programs that whole states run their entire operations on, right? So you've got okay, the clever man has actually built big computer programs, terrific team, fixing a huge problem that is going to cut substantial expenses.
I imply, it doesn't get any simpler than that in terms of deciding who to put cash behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have an actually simple guideline, Ryan. If I do not comprehend something, I set up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).