However frauds and little scams. And there's something that a fraud always does: it always goes to no - glenn beck teeka tiwari. However 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.
And so I can't disregard that. I've got to go dig deeper. teeka tiwari twitter." And so I started taking a trip all around the world. I began going to Bitcoin events; I began to talking to people that were smarter than me in this space. And what I realized is that Blockchain technology and the execution of Blockchain innovation 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 information that we don't require to have it separately validated, it's cryptographically confirmed. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I understood I needed to commit all my expert resources into ending up being a specialist in this space.
And do you think, I imply you pointed out something there about not needing to get a third-party, or intermediary to validate 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 fully understand recognition process [inaudible 00:04:11].
We were simply talking about how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and after that suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you think that the average folks don't perhaps learn about these processes, so they do not perhaps see what you're saying as this development, they do not see it in their daily life? Or what do you consider that? I think that holds true.
It's not as easy as shooting 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 have actually 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 find that too troublesome, which's why individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in perhaps the 20 minutes needed to go through a procedure which simply takes 5 minutes if you desire to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we enjoy your concepts, however gosh, setting up a crypto account is so hard." What I tell 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 larger. So you're in fact really getting paid an enormous amount of money to go through possibly, you know, 20 minutes of a headache (undefined). teeka tiwari wikipedia.
So you can't buy Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, prior to you'll have the ability to buy 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 wikipedia - undefined.
Today you discussed the procedure that individuals go through, and one thing I want to expose too that you didn't discuss, however I know a lot of folks who have a hard time with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, right, like Coinbase. It 'd take me permanently prior to I might begin buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari net worth). I indicate, 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 suggest 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, however much like during that duration of time, for the folks that had the vision to see where the future was going, and then purchased in on some of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm constantly curious to talk to people who are, particularly someone like yourself, who's committed the last, you know, the bulk of the last few years to actually go both feet in on this - teeka tiwari review. How do you describe cryptocurrency to like an average individual? That's a fantastic question.
They're two completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it value is that it is, there's only going to be a restricted amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, people constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And really, with present technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't rely on paper currency, you can print an unlimited quantity of it. It's really not protect, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari picks). Or people that were in Cypress, or simply people who have suffered through either run-away inflation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, because they currently 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 lot of American or Western investors have a difficult time getting their head around. teeka tiwari picks. They resemble, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a stable 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 entire growing international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari glenn beck. And energy coins are basically used, let's say Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is basically a worldwide computer system that you can compose computer programs for and run computer programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, since you're basically purchasing programs power. So I wouldn't really 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 provide individuals a concept, like an extremely basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's type of this same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on numerous different locations and. I don't know the ins and outs of it, but as an example for somebody who might simply be extremely basic in their understanding of this, there are numerous various kinds of utilities that are available.
And you sort of discussed having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely utility based, correct? Mm-hmm (affirmative). Most of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, but I think the genuine chance depends on the utility coin space.
There's all of these ICOs that were taking place, those decreased a bit with some modifications to a few things that was going on, however individuals are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And individuals require to understand that not all utility coins are developed equivalent - teeka tiwari wikipedia.
So you have the benefit of devoting your occupation to this, so you can go out there and do the reconnaissance, you can meet the founders, you can inspect the code, and so on. However for a typical person, there's now what, over 1,000 different types of coins available, nearly 1,200 I believe. 'Cause generally it'll crash 80% or two. Which's when we actually start taking a look at the concept in more information. So here are some quick and dirty things that you should take a look at, right? So, one is, are they resolving a problem that requires to be fixed? One of the big disadvantages with really clever, technical people, is that they like to fix issues that nobody appreciates solving. teeka tiwari wikipedia.
Does the group have experience of executing in an effective manner in another location of their life? And it does not even have to be directly associated to cryptocurrency, it doesn't have to be even directly associated to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 people in a space that are just out of college, unless they've got some truly excellent consultants behind them, I'm probably not going to provide any money - teeka tiwari palm beach.
Yeah. I think that in marketing in basic, my world of company, we constantly search for issues and how we can solve them. Now, are the issues things that individuals are attempting to fix a part of the Blockchain generally? Or would you state it's much better if they're resolving sort 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 generally looking for services that, so I'll offer you an example - teeka tiwari reviews. undefined.
And the factor that we bought it is since they found a way 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 guy that began it has a performance history of creating computer programs that entire states run their whole operations on, right? So you've got fine, the clever man has constructed big computer programs, great group, fixing an enormous problem that is going to cut huge costs.
I indicate, it does not get any simpler than that in terms of choosing who to put cash behind. And a lot of this is typical sense, and a great deal of folks will attempt to make things more complicated than it is. And I have an actually easy rule, Ryan. If I don't comprehend something, I installed my hand, and I state, "I didn't understand what you simply stated." Mm-hmm (affirmative).