But scams and little frauds. And there's one thing that a scams constantly does: it constantly goes to zero - teeka tiwari wikipedia. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The massive hack. Which woke something up for me.
Therefore I can't overlook that. I've got to go dig much deeper. teeka tiwari glenn beck." And so I started traveling all around the world. I began going to Bitcoin events; I began to speaking to individuals that were smarter than me in this space. And what I recognized is that Blockchain technology and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The implications of that, of having the ability to have data that we do not require to have it individually validated, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that cent dropped, I understood I had to commit all my professional resources into ending up being a professional in this area.
And do you believe, I indicate you mentioned 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 great deal of folks might not even completely understand validation procedure [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and after that suddenly there's other individuals getting informed about it, like the IRS and things like that. Do you think that the typical folks do not maybe learn about these procedures, so they do not possibly see what you're saying as this development, they do not see it in their daily life? Or what do you believe about that? I believe 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 publish your identity files, then you've got to wait to get verified, and after that finally, you can go buy some Bitcoin.
So, a great deal of people discover that too bothersome, which's why the individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes needed to go through a process which just takes 5 minutes if you desire to establish a brokerage account - glenn beck teeka tiwari.
"Oh Teeka, we enjoy your concepts, however gosh, establishing a crypto account is so difficult." What I inform 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 bigger. So you're actually really making money a huge quantity of money to go through maybe, you know, 20 minutes of a headache (undefined). teeka tiwari wikipedia.
So you can't buy Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software application. And can you imagine what will happen 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 picks - undefined.
Today you mentioned the process that people go through, and one thing I wish to bring to light too that you didn't point out, but I understand a great deal of folks who deal with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me forever before I might begin buying in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari next bitcoin). I imply, it's if you keep in mind the early days of the Web, 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 imply, we remain in the early days of that technology, however just like during 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 a step back for a second, since I'm constantly curious to talk to individuals who are, particularly somebody like yourself, who's committed the last, you understand, the lion's share of the last few years to truly go both feet in on this - teeka tiwari palm beach. How do you explain cryptocurrency to like an average person? That's a terrific question.
They're 2 completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what offers it value is that it is, there's just going to be a restricted 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. And so if you look at that Bitcoin network, people constantly try to hack it. But since of the nature of the network, today it's been unhackable. And truly, with current innovation, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
And so when people put, you've got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't 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], go ahead.
Yeah (teeka tiwari). Or individuals that were in Cypress, or just people who have actually suffered through either run-away inflation, or there's a high need for, in Argentina for instance, high demand 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 believe in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a difficult time getting their head around. glenn beck teeka tiwari. They're like, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. But there are billions of people in the world that don't have stable currencies.
Yeah. Therefore there's this whole blossoming global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari net worth. And utility coins are generally used, let's state Ethereum, which a lot of individuals learn about Ethereum. Ethereum is basically an international computer system that you can compose computer system programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, because you're essentially buying programs power. So I would not truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to give individuals an idea, like an extremely 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 exact same kind of network impact that you have with Bitcoin, where it's like unstoppable example, because it's on a lot of various areas and. I do not understand the ins and outs of it, however as an example for someone who may just be extremely fundamental in their understanding of this, there are so numerous different kinds of energies that are readily available.
And you kind of pointed out having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). Most of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, but I believe the genuine chance depends on the energy coin space.
There's all of these ICOs that were taking place, those decreased a little bit with some modifications to a few things that was going on, but individuals are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And people require to comprehend that not all utility coins are created equivalent - teeka tiwari.
So you have the benefit of dedicating your occupation to this, so you can head out there and do the recon, you can fulfill the creators, you can inspect the code, and so on. But for an average person, there's now what, over 1,000 different types of coins offered, nearly 1,200 I believe. 'Cause typically it'll crash 80% or so. And that's when we really start looking at the idea in more information. So here are some quick and unclean things that you should look at, right? So, one is, are they solving an issue that needs to be solved? One of the huge downsides with extremely wise, technical people, is that they like to solve problems that nobody appreciates solving. teeka tiwari wikipedia.
Does the team have experience of carrying out in a successful way in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't have to be even directly associated to software application, right? So, however I desire to see a performance history of success in something, right? If it's four people in a room that are simply out of college, unless they've got some actually great advisors behind them, I'm probably not going to provide them any cash - teeka tiwari wikipedia.
Yeah. I believe that in marketing in general, my world of company, we constantly look for problems and how we can resolve them. Now, are the issues things that individuals are trying to solve a part of the Blockchain generally? Or would you state it's 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 trying to find options that, so I'll offer you an example - teeka tiwari next bitcoin. undefined.
And the reason that we purchased it is due to the fact that they found a way to make documents tamper-proof, and it's 99% less expensive than current innovation, 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 system programs that whole states run their whole operations on, right? So you have actually got alright, the smart guy has constructed big computer programs, fantastic group, solving a massive problem that is going to cut big expenses.
I suggest, it doesn't get any easier than that in regards to deciding who to put cash behind. And a lot of this prevails sense, and a great deal of folks will try to make things more complex than it is. And I have a truly easy rule, Ryan. If I do not comprehend something, I put up my hand, and I state, "I didn't understand what you simply said." Mm-hmm (affirmative).