But scams and little scams. And there's one thing that a fraud constantly does: it constantly goes to zero - teeka tiwari next bitcoin. 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.
Therefore I can't neglect that. I've got to go dig deeper. teeka tiwari." And so I started traveling all around the world. I started going to Bitcoin events; I started to speaking with individuals that were smarter than me in this space. And what I recognized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of having the ability to have information that we don't require to have it separately confirmed, it's cryptographically confirmed. That concept can ripple out throughout the entire greater economy. And when that penny dropped, I understood I had to devote all my professional resources into becoming a specialist in this space.
And do you think, I imply you mentioned something there about not having 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 may not even completely understand validation process [inaudible 00:04:11].
We were just talking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that all of an unexpected there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not perhaps know about these processes, so they do not perhaps see what you're stating as this development, they do not see it in their daily life? Or what do you think of that? I believe that's real.
It's not as simple as shooting up a web browser and going to e-trade. com and pressing a buy button and buying it, right? You've got to go to an exchange, you have actually got to submit your identity files, then you have actually got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a lot of people discover that too inconvenient, which's why individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: people that are prepared 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 net worth.
"Oh Teeka, we enjoy your ideas, however gosh, setting up a crypto account is so hard." What I tell them is I say, "Look, when it's easy 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 truly getting paid a massive quantity of cash to go through possibly, you understand, 20 minutes of a headache (undefined). teeka tiwari reviews.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software application. And can you picture what will happen to this entire market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Today you pointed out the process that individuals go through, and something I want to expose too that you didn't mention, but I know a great deal of folks who have problem with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can only buy $500 a week.
As tough as possible, best, like Coinbase. It 'd take me forever prior to I could begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari twitter). I indicate, 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 imply 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 amount of time, for the folks that had the vision to see where the future was going, and then bought in on a few of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm always curious to speak with individuals who are, especially someone like yourself, who's devoted the last, you know, the much better part of the last couple of years to really go both feet in on this - teeka tiwari review. How do you describe cryptocurrency to like an average individual? That's a terrific question.
They're two totally various things, but 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 just going to be a minimal quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you've got individuals who have actually 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 amount of it. It's actually not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari wikipedia). Or people that were in Cypress, or simply individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, because 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 lot of American or Western financiers have a bumpy ride getting their head around. glenn beck teeka tiwari. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin. But there are billions of individuals in the world that don't have steady currencies.
Yeah. And so there's this entire blossoming international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari review. And utility coins are basically used, let's say Ethereum, which a great deal of individuals know about Ethereum. Ethereum is basically an international computer system that you can compose computer programs for and run computer programs on a globally decentralized computer 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 really consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to provide people an idea, like a really easy one that I would picture you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's sort of this same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on a lot of various areas and. I don't understand the ins and outs of it, but as an example for somebody who may just be extremely fundamental in their understanding of this, there are many different kinds of utilities that are readily available.
And you type of mentioned having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are most likely utility based, correct? Mm-hmm (affirmative). Most of the coins that I suggest and take a look at are utility-based. We have a few cryptocurrencies, however I think the real opportunity lies in the energy coin area.
There's all of these ICOs that were taking place, those decreased a bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and start to create energy coins- Correct, yeah. And people require to understand that not all energy coins are created equivalent - teeka tiwari.
So you have the benefit of committing your profession to this, so you can go out there and do the recon, you can fulfill the creators, you can examine the code, etc. But for a typical person, there's now what, over 1,000 different types of coins readily available, almost 1,200 I believe. 'Cause normally it'll crash 80% or so. And that's when we actually 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 solving a problem that needs to be solved? Among the big drawbacks with really clever, technical individuals, is that they like to fix issues that no one cares about solving. teeka tiwari wikipedia.
Does the team have experience of performing in a successful way in another area of their life? And it does not even need to be straight related to cryptocurrency, it doesn't have to be even straight associated to software application, right? So, but I wish to see a performance history of success in something, right? If it's 4 people in a room that are simply out of college, unless they have actually got some actually excellent advisors behind them, I'm most likely not going to give them any money - teeka tiwari review.
Yeah. I believe that in marketing in general, my world of organization, we continuously search for issues and how we can solve them. Now, are the problems things that people are trying to fix a part of the Blockchain normally? Or would you say 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 essentially looking for services that, so I'll give you an example - teeka tiwari review. undefined.
And the factor that we purchased it is because they found a way to make files tamper-proof, and it's 99% less expensive than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a track record of producing computer system programs that whole states run their whole operations on, right? So you've got all right, the wise guy has actually developed huge computer system programs, great group, resolving an enormous problem that is going to cut substantial 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 prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually simple guideline, Ryan. If I don't understand something, I set up my hand, and I say, "I didn't comprehend what you just stated." Mm-hmm (affirmative).