However scams and little frauds. And there's something that a scams constantly does: it always goes to absolutely no - teeka tiwari next bitcoin. 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 enormous hack. Which woke something up for me.
Therefore I can't neglect that. I've got to go dig much deeper. teeka tiwari." And so I started traveling all around the world. I started going to Bitcoin occasions; I began to talking to people that were smarter than me in this area. And what I recognized is that Blockchain innovation and the application of Blockchain innovation 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 validated. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I knew I had to devote all my professional resources into becoming a professional in this area.
And do you think, I suggest you pointed out something there about not having 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 may not even totally comprehend validation procedure [inaudible 00:04:11].
We were simply talking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and after that all of a sudden there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the typical folks do not possibly learn about these procedures, so they do not possibly see what you're stating as this breakthrough, they don't see it in their everyday life? Or what do you consider that? I think that holds true.
It's not as easy as firing up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You have actually got to go to an exchange, you have actually got to upload your identity documents, then you've got to wait to get validated, and after that lastly, you can go purchase some Bitcoin.
So, a lot of people find that too troublesome, and that's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes needed to go through a process which simply takes 5 minutes if you want to establish a brokerage account - teeka tiwari 5 coins.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so hard." What I tell them is I state, "Look, when it's easy as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The whole cryptocurrency market will be 10x bigger. So you're actually really earning money an enormous quantity of money to go through maybe, you understand, 20 minutes of a pain in the neck (undefined). teeka tiwari wikipedia.
So you can't purchase Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll be able to buy cryptocurrencies directly through your trading software. And can you envision what will take place 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 twitter - undefined.
Today you pointed out the process that people go through, and one thing I want to bring to light too that you didn't discuss, however I understand a great deal of folks who deal with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me forever before I might begin buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari twitter). 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 load 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 amount of time, 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 absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, since I'm constantly curious to talk to people who are, specifically someone like yourself, who's devoted the last, you know, the bulk of the last few years to truly go both feet in on this - glenn beck teeka tiwari. How do you explain cryptocurrency to like a typical person? That's an excellent concern.
They're 2 completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying 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 minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, people continuously try to hack it. But since of the nature of the network, today it's been unhackable. And actually, with present technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you've got people who have literally 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 unrestricted quantity of it. It's truly not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari review). Or individuals that remained in Cypress, or just individuals who have actually suffered through either run-away inflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, due to the fact that they currently do not think 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 review. 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 require Bitcoin. But there are billions of individuals on the planet that don't have steady currencies.
Yeah. And so there's this whole blossoming international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari review. And utility coins are essentially used, let's state Ethereum, which a lot of people learn about Ethereum. Ethereum is essentially an international computer system that you can write computer system programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, because you're essentially buying programming power. So I wouldn't really think about Ether a cryptocurrency, I would call them an energy coin. Okay. glenn beck teeka tiwari. And there are other ones out there, to offer people a concept, like a really 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 sort of this same type of network effect that you have with Bitcoin, where it's like unstoppable example, because it's on so lots of various areas and. I don't understand the ins and outs of it, however as an example for somebody who might just be very fundamental in their understanding of this, there are so many various kinds of energies that are offered.
And you type of pointed out having this boots on the ground experience. Now, considering that we're looking at the bulk of these are most likely energy based, remedy? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I think the genuine opportunity depends on the energy coin space.
There's all of these ICOs that were occurring, those slowed down a bit with some changes to a few things that was going on, but individuals are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And people need to comprehend that not all utility coins are produced equivalent - teeka tiwari net worth.
So you have the benefit of devoting your profession to this, so you can head out there and do the reconnaissance, you can fulfill the creators, you can inspect the code, and so on. However for an average person, there's now what, over 1,000 different types of coins available, practically 1,200 I believe. 'Cause usually it'll crash 80% approximately. Which's when we truly begin looking at the idea in more detail. So here are some quick and dirty things that you should take a look at, right? So, one is, are they solving a problem that requires to be solved? One of the big disadvantages with extremely clever, technical people, is that they like to resolve issues that nobody appreciates fixing. teeka tiwari review.
Does the team have experience of executing in an effective manner in another location 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 application, right? So, however I desire 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've got some truly great advisors behind them, I'm most likely not going to offer them any money - teeka tiwari twitter.
Yeah. I think that in marketing in general, my world of business, we constantly search for problems and how we can resolve them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain typically? Or would you say it's much better if they're fixing kind 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 searching for options that, so I'll offer you an example - teeka tiwari next bitcoin. undefined.
And the factor that we bought it is because 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 then on top of that, the man that started it has a track record of developing computer programs that whole states run their whole operations on, right? So you have actually got all right, the smart person has built huge computer system programs, great team, resolving a massive problem that is going to cut substantial expenses.
I indicate, it does not get any simpler than that in terms of choosing who to put money behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complex than it is. And I have a truly simple rule, Ryan. If I don't understand something, I put up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).