But scams and little frauds. And there's one thing that a fraud constantly does: it constantly goes to zero - 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.
Therefore I can't overlook that. I've got to go dig deeper. teeka tiwari reviews." And so I began taking a trip all around the world. I began going to Bitcoin events; I started to speaking with people that were smarter than me in this area. And what I understood is that Blockchain technology and the execution of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how huge that is! The ramifications of that, of being able to have data that we don't require to have it individually verified, it's cryptographically confirmed. That concept can ripple out throughout the entire greater economy. And when that cent dropped, I understood I had to devote all my expert resources into becoming an expert in this area.
And do you think, I indicate 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 might not even totally comprehend recognition process [inaudible 00:04:11].
We were simply talking about how I'm leaving to 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 Internal Revenue Service and things like that. Do you believe that the typical folks don't possibly understand about these procedures, so they don't possibly see what you're saying as this breakthrough, they do not see it in their everyday life? Or what do you consider that? I think that's true.
It's not as simple as firing up a web internet 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 publish your identity files, then you've got to wait to get confirmed, and then lastly, you can go purchase some Bitcoin.
So, a lot of people discover that too troublesome, which's why the individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: people that are willing to put in maybe the 20 minutes needed to go through a procedure which just takes five minutes if you wish to set up a brokerage account - teeka tiwari twitter.
"Oh Teeka, we like your ideas, but gosh, establishing a crypto account is so tough." 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 whole cryptocurrency market will be 10x larger. So you're in fact really getting paid a huge amount of cash to go through maybe, you understand, 20 minutes of a nuisance (undefined). teeka tiwari.
So you can't purchase Bitcoin yet through their trading platform, however 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 market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Right now you pointed out the process that individuals go through, and something I wish to bring to light too that you didn't point out, but I know a lot of folks who deal with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can just buy $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently prior to I might start purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari net worth). I indicate, it's if you remember the early days of the Internet, when we were getting on the Internet, we were doing it with 56k modems, right? I indicate it would take 20 minutes to pack a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I indicate, we remain in the early days of that innovation, however simply like during that amount of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm always curious to talk to people who are, specifically somebody like yourself, who's committed the last, you understand, the bulk of the last couple of years to actually go both feet in on this - teeka tiwari. How do you explain cryptocurrency to like an average person? That's a great question.
They're two totally different things, however 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. Therefore what gives 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, validating the transactions on the Bitcoin network. And so if you look at that Bitcoin network, people continuously try to hack it. But because of the nature of the network, today it's been unhackable. And actually, with existing technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually 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 don't trust fiat money, you can print a limitless quantity of it. It's truly not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (glenn beck teeka tiwari). Or people that remained in Cypress, or just people who have actually suffered through either hyperinflation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, because they currently don't 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 financiers have a difficult time getting their head around. teeka tiwari 5 coins. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin. But there are billions of people worldwide that do not have stable currencies.
Yeah. And so there's this entire blossoming global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari wikipedia. And energy coins are basically utilized, let's say Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a worldwide computer system that you can write computer system programs for and run computer programs on a worldwide decentralized computer system program.
So we consider something like Ether an energy token, due to the fact that you're essentially buying programming power. So I would not truly think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to offer people an idea, like a really basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's kind of this same kind of network result that you have with Bitcoin, where it resembles unstoppable kind of thing, since it's on so many different locations and. I do not understand the ins and outs of it, however as an example for someone who may simply be very basic in their understanding of this, there are numerous different kinds of utilities that are available.
And you type of discussed having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). The majority of the coins that I suggest 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 taking place, those decreased a little bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people need to comprehend that not all energy coins are created equal - teeka tiwari twitter.
So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can meet the founders, you can inspect the code, and so on. However for an average individual, there's now what, over 1,000 various types of coins available, nearly 1,200 I think. 'Cause normally it'll crash 80% approximately. Which's when we really start taking a look 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 fixed? Among the big disadvantages with very smart, technical people, is that they like to resolve issues that no one cares about solving. teeka tiwari reviews.
Does the group have experience of performing in an effective manner in another location of their life? And it doesn't even have to be straight associated to cryptocurrency, it does not have to be even directly related to software application, right? So, but 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 have actually got some truly great consultants behind them, I'm probably not going to offer them any money - teeka tiwari 5 coins.
Yeah. I think that in marketing in general, my world of business, we constantly try to find issues and how we can solve them. Now, are the problems things that people are attempting to fix a part of the Blockchain typically? Or would you state it's better if they're resolving sort 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 provide you an example - teeka tiwari 5 coins. undefined.
And the reason that we bought it is because they found a method to make files tamper-proof, and it's 99% cheaper than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that began it has a performance history of developing computer system programs that entire states run their entire operations on, right? So you've got all right, the clever person has actually built substantial computer programs, fantastic group, resolving a massive issue that is going to cut huge costs.
I indicate, it doesn't get any easier than that in terms of deciding who to put cash behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have a really simple guideline, Ryan. If I don't understand something, I put up my hand, and I say, "I didn't understand what you just said." Mm-hmm (affirmative).