But scams and little scams. And there's one thing that a fraud constantly does: it constantly goes to absolutely no - teeka tiwari picks. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem 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 much deeper. teeka tiwari picks." And so I started traveling all around the world. I began going to Bitcoin events; I began to talking with individuals that were smarter than me in this area. And what I realized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have data that we do not require to have it individually verified, it's cryptographically validated. That concept can ripple out throughout the entire greater economy. And when that penny dropped, I knew I needed to commit all my professional resources into ending up being a professional in this area.
And do you think, I imply 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 totally comprehend recognition process [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and then suddenly there's other people getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not perhaps understand about these procedures, so they don't possibly see what you're saying as this breakthrough, they do not see it in their daily life? Or what do you think about that? I think that's real.
It's not as simple as firing up a web browser and going to e-trade. com and pushing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to upload your identity files, then you've got to wait to get verified, and after that lastly, you can go buy some Bitcoin.
So, a lot of people discover that too bothersome, which's why individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: people that are prepared to put in perhaps the 20 minutes needed to go through a procedure which just takes five minutes if you want to establish a brokerage account - teeka tiwari picks.
"Oh Teeka, we love your ideas, but gosh, setting up a crypto account is so hard." What I tell 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 bigger. So you're actually truly making money an enormous amount of cash to go through maybe, you understand, 20 minutes of a pain in the neck (undefined). teeka tiwari palm beach.
So you can't purchase Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software application. And can you envision what will occur to this whole market when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari next bitcoin - undefined.
Right now you discussed the procedure that individuals go through, and something I wish to bring to light too that you didn't discuss, but I understand a great deal of folks who struggle with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As tough as possible, best, like Coinbase. It 'd take me permanently before I might start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari twitter). I imply, 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 indicate 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 mean, we remain in the early days of that technology, but much like throughout that time period, 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 absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm constantly curious to speak to people who are, especially somebody like yourself, who's dedicated the last, you know, the lion's share of the last couple of years to actually go both feet in on this - teeka tiwari review. How do you describe cryptocurrency to like a typical individual? That's a fantastic question.
They're 2 absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. And so what offers 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 deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals constantly try to hack it. But since of the nature of the network, today it's been unhackable. And really, with present innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so 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 saying, "We do not rely on paper currency, you can print an unrestricted 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 picks). Or people that were in Cypress, or just people who have actually suffered through either devaluation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially 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 currently seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. teeka tiwari glenn beck. They're like, "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 stable currencies.
Yeah. Therefore there's this entire growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari next bitcoin. And energy coins are essentially utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically a global computer that you can write computer programs for and run computer system programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, because you're essentially purchasing programs power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari twitter. And there are other ones out there, to offer people a concept, like a really easy one that I would envision you 'd called an energy token, is like FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's kind of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable example, since it's on many various locations and. I do not understand the ins and outs of it, but as an example for someone who might simply be extremely standard in their understanding of this, there are many various kinds of utilities that are available.
And you type of pointed out having this boots on the ground experience. Now, since we're looking at the bulk of these are probably energy based, fix? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, however I believe the genuine chance lies in the energy coin area.
There's all of these ICOs that were occurring, those slowed down a bit with some modifications to a few 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 need to comprehend that not all utility coins are created equal - teeka tiwari glenn beck.
So you have the benefit of devoting your profession to this, so you can head out there and do the reconnaissance, you can satisfy the founders, you can inspect the code, and so on. However for a typical person, there's now what, over 1,000 different kinds of coins readily available, almost 1,200 I think. 'Cause generally it'll crash 80% or two. And that's when we actually begin taking a look at the concept in more information. So here are some quick and unclean things that you should take a look at, right? So, one is, are they resolving an issue that requires to be fixed? One of the big downsides with really clever, technical individuals, is that they like to fix issues that no one appreciates solving. teeka tiwari twitter.
Does the team have experience of executing in a successful manner 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 associated to software, right? So, however I want to see a performance history of success in something, right? If it's four people in a space that are just out of college, unless they have actually got some truly great advisors behind them, I'm most likely not going to provide any money - teeka tiwari.
Yeah. I think that in marketing in basic, my world of service, we constantly search for problems and how we can resolve them. Now, are the issues things that people are attempting to fix a part of the Blockchain normally? Or would you state it's better if they're fixing 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 searching for solutions that, so I'll provide you an example - teeka tiwari palm beach. undefined.
And the reason that we bought it is because they found a method to make files tamper-proof, and it's 99% less expensive than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that started it has a track record of creating computer system programs that whole states run their entire operations on, right? So you've got fine, the clever man has developed big computer system programs, great group, fixing a massive problem that is going to cut big costs.
I suggest, it does not get any simpler than that in terms of deciding who to put money behind. And a lot of this prevails sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a really simple rule, Ryan. If I do not comprehend something, I put up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).