However scams and little frauds. And there's one thing that a fraud always does: it always goes to no - teeka tiwari palm beach. 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. And that woke something up for me.
Therefore I can't neglect that. I have actually got to go dig deeper. teeka tiwari 5 coins." And so I began taking a trip all around the world. I started going to Bitcoin events; I began to speaking with people that were smarter than me in this area. And what I realized is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how massive that is! The implications of that, of having the ability to have data that we do not need to have it separately verified, it's cryptographically confirmed. That idea can ripple out throughout the whole higher economy. And when that penny dropped, I understood I had to devote all my expert resources into ending up being a specialist in this area.
And do you believe, I mean you pointed out 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 may not even fully comprehend validation procedure [inaudible 00:04:11].
We were just speaking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and then 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 perhaps know about these procedures, so they don't maybe see what you're stating as this advancement, they don't see it in their daily life? Or what do you believe about that? I think that holds true.
It's not as simple as shooting up a web internet browser and going to e-trade. com and pushing a buy button and buying it, right? You have actually got to go to an exchange, you've got to upload your identity documents, then you've got to wait to get validated, and then finally, you can go buy some Bitcoin.
So, a great deal of individuals discover that too inconvenient, which's why the people that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals that want to put in perhaps the 20 minutes needed to go through a procedure which simply takes five minutes if you desire to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we like your concepts, but gosh, setting up a crypto account is so difficult." 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 whole cryptocurrency market will be 10x larger. So you're actually truly earning money a massive amount of cash to go through possibly, you understand, 20 minutes of a nuisance (undefined). teeka tiwari twitter.
So you can't purchase Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, prior to you'll be able to purchase cryptocurrencies directly through your trading software application. And can you envision what will take place to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari wikipedia - undefined.
Today you pointed out the procedure that people go through, and one thing I wish to bring to light too that you didn't discuss, however I understand a lot of folks who have problem with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just buy $500 a week.
As tough as possible, right, like Coinbase. It 'd take me permanently before I could begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari twitter). I mean, 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 load 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 innovation, however similar to throughout that time period, for the folks that had the vision to see where the future was going, and after that 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, since I'm always curious to speak with people who are, particularly somebody like yourself, who's dedicated the last, you know, the lion's share of the last few years to actually go both feet in on this - teeka tiwari. How do you explain cryptocurrency to like an average individual? That's an excellent question.
They're two totally various things, but 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. Therefore what offers it value is that it is, there's only going to be a limited quantity. 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, individuals constantly try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And really, with present 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've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not trust paper currency, you can print an endless quantity of it. It's actually not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari picks). Or people that remained in Cypress, or simply people who have actually suffered through either run-away inflation, 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, since they already don't think in their own currency? Yeah, and I believe we've already 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 palm beach. They're like, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin. However there are billions of individuals worldwide that do not have stable currencies.
Yeah. And so 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. And utility coins are essentially utilized, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially a global computer system that you can compose computer programs for and run computer programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, because you're basically purchasing programming power. So I wouldn't really consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari reviews. And there are other ones out there, to offer individuals an idea, like a very basic 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 exact same type of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on a lot of various locations and. I don't understand the ins and outs of it, however as an example for somebody who might simply be really standard in their understanding of this, there are numerous various types of utilities that are offered.
And you sort of mentioned having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, but I think the real chance depends on the energy coin area.
There's all of these ICOs that were happening, those decreased a bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and begin to produce energy coins- Correct, yeah. And individuals need to understand that not all utility coins are developed equivalent - teeka tiwari net worth.
So you have the benefit of dedicating your occupation to this, so you can go out there and do the reconnaissance, you can satisfy the creators, you can examine the code, etc. However for an average individual, there's now what, over 1,000 different types of coins offered, nearly 1,200 I think. 'Cause typically it'll crash 80% or two. Which's when we actually start taking a look at the idea 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 needs to be solved? One of the big drawbacks with very clever, technical individuals, is that they like to fix problems that no one appreciates resolving. teeka tiwari review.
Does the group have experience of executing in a successful way in another location of their life? And it doesn't even need to be straight associated to cryptocurrency, it does not have to be even straight associated to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 men in a space that are simply out of college, unless they have actually got some actually good advisors behind them, I'm probably not going to provide them any cash - teeka tiwari 5 coins.
Yeah. I think that in marketing in general, my world of organization, we continuously look for issues and how we can fix them. Now, are the issues things that individuals are attempting to fix a part of the Blockchain generally? Or would you say it's much better if they're resolving 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 looking for options that, so I'll offer you an example - teeka tiwari wikipedia. undefined.
And the reason that we purchased it is due to the fact that they discovered a way 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 guy that started it has a performance history of creating computer system programs that whole states run their entire operations on, right? So you've got all right, the smart person has developed big computer programs, terrific group, fixing a huge problem that is going to cut big costs.
I suggest, it does not get any easier 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 complex than it is. And I have a truly basic guideline, Ryan. If I don't understand something, I put up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).