But scams and small scams. And there's something that a scams always does: it always goes to absolutely no - teeka tiwari reviews. However 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.
And so I can't neglect that. I have actually got to go dig deeper. teeka tiwari review." And so I started taking a trip all around the world. I started going to Bitcoin events; I began to speaking with people that were smarter than me in this area. And what I recognized is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how huge that is! The ramifications of that, of having the ability to have information that we do not need to have it individually confirmed, it's cryptographically validated. That idea can ripple out throughout the entire higher economy. And when that cent dropped, I knew I needed to devote all my professional resources into ending up being an expert in this area.
And do you think, I indicate you mentioned something there about not having 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 fully comprehend recognition process [inaudible 00:04:11].
We were simply speaking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then suddenly 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 possibly see what you're stating as this breakthrough, they do not see it in their daily life? Or what do you think of that? I think that's real.
It's not as simple as shooting up a web internet 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 have actually got to submit your identity documents, then you've got to wait to get validated, and after that finally, you can go purchase some Bitcoin.
So, a lot of individuals find that too inconvenient, which's why the individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes required to go through a procedure which simply takes five minutes if you desire to set up a brokerage account - teeka tiwari twitter.
"Oh Teeka, we like your concepts, but gosh, establishing 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 whole cryptocurrency market will be 10x larger. So you're in fact really earning money a huge quantity of money to go through maybe, you know, 20 minutes of a nuisance (undefined). teeka tiwari 5 coins.
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. And can you picture what will occur to this whole marketplace when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari net worth - undefined.
Today you pointed out the process that people go through, and one thing I wish to expose too that you didn't point out, however I know a great deal 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 difficult as possible, right, like Coinbase. It 'd take me forever prior to I might begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari palm beach). I imply, 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 indicate it would take 20 minutes to fill 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 remain in the early days of that technology, but much like 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 second, since I'm always curious to speak with individuals who are, particularly somebody like yourself, who's committed the last, you understand, the much better part of the last few years to really go both feet in on this - teeka tiwari net worth. How do you explain cryptocurrency to like an average individual? That's a great 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. And so what gives it value is that it is, there's only going to be a limited amount. 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 attempt to hack it. But since of the nature of the network, today it's been unhackable. And truly, with present technology, 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 do not trust fiat money, you can print an unrestricted quantity of it. It's truly not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari). Or individuals that remained in Cypress, or just people who have actually suffered through either hyperinflation, 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 don't 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. 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 need Bitcoin. However there are billions of individuals on the planet that do not have steady currencies.
Yeah. And so there's this entire growing worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari wikipedia. And energy coins are basically used, let's state Ethereum, which a great deal of people learn about Ethereum. Ethereum is essentially a worldwide computer that you can compose computer programs for and run computer system programs on an internationally decentralized computer system program.
So we consider something like Ether an energy token, since you're essentially buying programming power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to give individuals an idea, like a really easy one that I would envision you 'd called an energy token, resembles FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's type of this very same kind of network impact that you have with Bitcoin, where it resembles unstoppable kind of thing, because it's on many various areas and. I do not know 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 numerous different types of energies that are available.
And you kind of discussed having this boots on the ground experience. Now, considering that we're looking at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, however I believe the real opportunity lies in the utility coin space.
There's all of these ICOs that were happening, those decreased a bit with some changes to a few things that was going on, however 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 glenn beck.
So you have the benefit of dedicating your occupation to this, so you can go out there and do the reconnaissance, you can meet the founders, you can inspect the code, etc. But for an average individual, there's now what, over 1,000 different types of coins readily available, practically 1,200 I believe. 'Cause normally it'll crash 80% approximately. Which's when we really start looking at the concept in more information. So here are some quick and filthy things that you should look at, right? So, one is, are they solving a problem that needs to be solved? Among the huge disadvantages with really wise, technical individuals, is that they like to solve problems that nobody appreciates solving. teeka tiwari palm beach.
Does the team have experience of executing in an effective way in another location of their life? And it does not even have to be straight associated to cryptocurrency, it doesn't need to be even straight related to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 guys in a room that are simply out of college, unless they have actually got some truly good advisors behind them, I'm most likely not going to offer them any cash - teeka tiwari.
Yeah. I think that in marketing in general, my world of service, we constantly look for problems and how we can solve them. Now, are the issues things that individuals are attempting to solve a part of the Blockchain typically? Or would you say it's better if they're solving type 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 essentially trying to find solutions that, so I'll give you an example - teeka tiwari glenn beck. undefined.
And the reason that we bought it is since they found a way to make documents tamper-proof, and it's 99% more affordable than existing 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 producing computer programs that whole states run their entire operations on, right? So you've got alright, the smart man has actually developed huge computer system programs, fantastic team, fixing an enormous issue that is going to cut substantial expenses.
I mean, it does not get any simpler than that in terms of deciding who to put money behind. And a lot of this is common sense, and a great deal of folks will try to make things more complicated than it is. And I have an actually easy guideline, Ryan. If I don't comprehend something, I set up my hand, and I say, "I didn't comprehend what you just said." Mm-hmm (affirmative).