But scams and small scams. And there's something that a fraud constantly does: it always goes to no - teeka tiwari wikipedia. 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 massive hack. And that woke something up for me.
And so I can't neglect that. I've got to go dig deeper. teeka tiwari reviews." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I started to speaking 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 overemphasize how enormous that is! The implications of that, of having the ability to have data that we don't require to have it independently validated, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that cent dropped, I knew I had to commit all my professional resources into becoming a professional in this area.
And do you think, I suggest you discussed something there about not needing to get a third-party, or intermediary to confirm something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a lot of folks might not even completely understand recognition procedure [inaudible 00:04:11].
We were simply speaking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the typical folks do not maybe understand about these procedures, so they don't perhaps see what you're saying as this breakthrough, they do not see it in their daily life? Or what do you think of 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 pressing 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 have actually got to wait to get verified, and then lastly, you can go buy some Bitcoin.
So, a lot of people find that too inconvenient, which's why the individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that are prepared to put in maybe the 20 minutes required to go through a process which simply takes 5 minutes if you wish to establish a brokerage account - teeka tiwari next bitcoin.
"Oh Teeka, we like your ideas, however gosh, setting up a crypto account is so hard." 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 truly earning money an enormous quantity of cash to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari net worth.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, prior to you'll be able to purchase cryptocurrencies straight through your trading software application. And can you imagine what will occur to this entire market when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Right now you pointed out the process that people go through, and something I wish to bring to light too that you didn't mention, but I understand a great deal of folks who struggle with this too, is oh, and by the method, 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 purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari review). I suggest, it's if you keep in mind the early days of the Internet, when we were getting on the Internet, 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 imply, we're in the early days of that technology, but simply like throughout that amount of time, for the folks that had the vision to see where the future was going, and after that bought in on some of these young business, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to speak to individuals who are, especially somebody like yourself, who's committed the last, you know, the better part of the last couple of years to actually go both feet in on this - teeka tiwari next bitcoin. How do you explain cryptocurrency to like an average person? That's a great question.
They're two absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. And so what provides it worth 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 computer systems, confirming the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people continuously attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with existing technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
And so 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 trust paper money, you can print a limitless amount of it. It's actually not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (glenn beck teeka tiwari). Or individuals that were in Cypress, or just individuals who have actually suffered through either devaluation, 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 possibly be a catalyst for more adoption, due to the fact that they currently do not believe in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a hard time getting their head around. teeka tiwari next bitcoin. 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 don't need Bitcoin. However there are billions of individuals on the planet that do not have steady currencies.
Yeah. Therefore there's this entire burgeoning worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari picks. And utility coins are generally used, let's say Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially an international computer that you can write computer system programs for and run computer programs on a globally decentralized computer system program.
So we consider something like Ether an energy token, since you're basically purchasing programming power. So I would not actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari palm beach. And there are other ones out there, to offer individuals an idea, like a very easy one that I would imagine you 'd called an utility token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's sort of this very same type of network effect that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on so numerous various areas and. I do not know the ins and outs of it, but as an example for somebody who may simply be extremely standard in their understanding of this, there are a lot of various types of energies 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 energy based, correct? Mm-hmm (affirmative). Most of the coins that I advise and look at are utility-based. We have a few cryptocurrencies, however I think the real chance lies in the energy coin space.
There's all of these ICOs that were happening, those decreased a little bit with some changes to a few things that was going on, but people are going to come out of the woodwork and begin to develop utility coins- Correct, yeah. And individuals need to understand that not all utility coins are created equal - teeka tiwari picks.
So you have the advantage of dedicating your profession to this, so you can head out there and do the recon, you can fulfill the creators, you can check the code, etc. But for an average person, there's now what, over 1,000 various types of coins offered, nearly 1,200 I believe. 'Cause generally it'll crash 80% or two. And that's when we truly start looking at the idea in more detail. So here are some quick and filthy things that you should look at, right? So, one is, are they resolving an issue that needs to be resolved? Among the huge drawbacks with extremely wise, technical individuals, is that they like to fix problems that nobody appreciates solving. teeka tiwari next bitcoin.
Does the group have experience of performing in a successful way in another location of their life? And it does not even need to be directly associated to cryptocurrency, it doesn't have to be even straight related to software, right? So, however I want to see a performance history of success in something, right? If it's 4 men in a space that are just out of college, unless they have actually got some truly excellent consultants behind them, I'm probably not going to provide any cash - teeka tiwari palm beach.
Yeah. I think that in marketing in basic, my world of service, we constantly search for issues and how we can solve them. Now, are the problems things that people are trying to resolve a part of the Blockchain usually? Or would you say it's much 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 generally looking for options that, so I'll give you an example - teeka tiwari next bitcoin. undefined.
And the factor that we bought it is because they found a method to make documents tamper-proof, and it's 99% cheaper than existing 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 performance history of producing computer system programs that whole states run their whole operations on, right? So you've got okay, the smart man has developed huge computer system programs, great team, solving a massive issue that is going to cut substantial costs.
I imply, it doesn't get any simpler than that in regards to deciding who to put cash behind. And a great deal of this is common sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a really basic guideline, Ryan. If I do not comprehend something, I put up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).