However scams and little scams. And there's something that a fraud constantly does: it always goes to no - teeka tiwari review. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The enormous hack. And that woke something up for me.
Therefore I can't ignore that. I have actually got to go dig deeper. teeka tiwari wikipedia." And so I started taking a trip all around the world. I started going to Bitcoin events; I started to talking to people that were smarter than me in this area. And what I understood is that Blockchain technology and the implementation of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how massive that is! The ramifications of that, of being able to have information that we do not require to have it separately verified, it's cryptographically confirmed. That concept can ripple out throughout the entire higher economy. And when that cent dropped, I understood I needed to commit all my professional resources into becoming a professional in this area.
And do you think, I indicate 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 may not even fully understand recognition procedure [inaudible 00:04:11].
We were simply speaking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not possibly understand about these processes, so they do not maybe see what you're stating as this advancement, they don't see it in their everyday life? Or what do you consider that? I think that holds 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 have actually got to go to an exchange, you've got to publish your identity files, then you have actually got to wait to get validated, and then lastly, you can go purchase some Bitcoin.
So, a lot of people discover that too bothersome, and that's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: individuals that are prepared to put in possibly the 20 minutes needed to go through a process which simply takes five minutes if you want to establish a brokerage account - teeka tiwari review.
"Oh Teeka, we love your ideas, 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 really earning money a massive amount of money to go through possibly, you know, 20 minutes of a headache (undefined). teeka tiwari 5 coins.
So you can't buy Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll be able to buy cryptocurrencies directly through your trading software. And can you imagine what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari review - undefined.
Today you pointed out the process that individuals go through, and something I wish to expose too that you didn't point out, however I know a lot of folks who have problem with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me forever before I might start buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari reviews). I suggest, it's if you remember the early days of the Web, when we were getting on the Internet, 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 indicate, we're in the early days of that innovation, however simply like during that amount of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to talk to individuals who are, specifically somebody like yourself, who's devoted the last, you understand, the better part of the last couple of years to actually go both feet in on this - teeka tiwari wikipedia. How do you explain cryptocurrency to like a typical individual? That's a fantastic question.
They're two absolutely different things, however 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 only going to be a restricted amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, people constantly attempt to hack it. However because 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).
Therefore when people put, you have actually got people 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 do not rely on paper money, you can print an unlimited quantity of it. It's actually not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari reviews). 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 catalyst for more adoption, because they already do not 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 financiers have a difficult time getting their head around. teeka tiwari wikipedia. They resemble, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin. However there are billions of individuals in the world that do not have steady currencies.
Yeah. Therefore there's this whole blossoming worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - glenn beck teeka tiwari. And energy coins are basically utilized, let's state Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially a worldwide computer that you can compose 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 programming power. So I wouldn't truly think about Ether a cryptocurrency, I would call them an utility coin. Okay. glenn beck teeka tiwari. And there are other ones out there, to offer individuals a concept, like an extremely basic one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's type of this very same type of network impact that you have with Bitcoin, where it's like unstoppable example, since it's on so lots of different locations and. I do not know the ins and outs of it, but as an example for somebody who might just be extremely basic in their understanding of this, there are many various types of utilities that are readily available.
And you type of mentioned having this boots on the ground experience. Now, because we're taking a look at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a couple of cryptocurrencies, but I believe the real opportunity depends on the utility coin area.
There's all of these ICOs that were occurring, those slowed down a little bit with some changes to a couple of things that was going on, but individuals are going to come out of the woodwork and start to create energy coins- Correct, yeah. And people need to comprehend that not all energy coins are produced equivalent - teeka tiwari net worth.
So you have the benefit of committing your profession to this, so you can head out there and do the reconnaissance, you can fulfill the creators, you can check the code, and so on. However for an average person, there's now what, over 1,000 various kinds of coins offered, practically 1,200 I believe. 'Cause normally it'll crash 80% or two. Which's when we truly start looking at the idea in more detail. So here are some fast and filthy things that you should take a look at, right? So, one is, are they resolving an issue that needs to be resolved? One of the big downsides with extremely smart, technical people, is that they like to fix problems that no one cares about resolving. glenn beck teeka tiwari.
Does the team have experience of performing in a successful way in another location of their life? And it doesn't even need to be straight related to cryptocurrency, it doesn't have to be even directly associated to software, right? So, however I desire to see a performance history of success in something, right? If it's four people in a space that are simply out of college, unless they've got some truly great advisors behind them, I'm probably not going to offer them any money - teeka tiwari palm beach.
Yeah. I think that in marketing in general, my world of business, we continuously try to find problems and how we can fix them. Now, are the problems things that people are attempting to fix a part of the Blockchain generally? Or would you state it's much better if they're resolving 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 basically looking for options that, so I'll offer you an example - teeka tiwari picks. undefined.
And the factor that we purchased it is due to the fact that they found a way to make documents tamper-proof, and it's 99% cheaper than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that began it has a track record of developing computer system programs that whole states run their whole operations on, right? So you have actually got all right, the wise guy has developed big computer system programs, excellent team, solving an enormous problem that is going to cut huge expenses.
I imply, it does not get any simpler than that in regards to deciding who to put cash behind. And a great deal of this is typical sense, and a great deal of folks will try to make things more complex than it is. And I have a truly easy guideline, Ryan. If I do not understand something, I installed my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).