However scams and small scams. And there's something that a fraud constantly does: it always goes to absolutely no - teeka tiwari twitter. 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 enormous hack. Which woke something up for me.
Therefore I can't neglect that. I have actually got to go dig much deeper. teeka tiwari next bitcoin." And so I began taking a trip all around the world. I began going to Bitcoin events; I started to talking to individuals that were smarter than me in this space. And what I realized is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how massive that is! The implications of that, of being able to have information that we don't require to have it individually verified, it's cryptographically validated. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I knew I had to devote all my professional resources into becoming an expert in this space.
And do you think, I imply 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 factor that this isn't getting as much mass adoption is that a great deal of folks may not even completely understand validation process [inaudible 00:04:11].
We were simply speaking 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 Internal Revenue Service and things like that. Do you believe that the typical folks don't perhaps understand about these processes, so they do not maybe see what you're saying as this development, they don't see it in their everyday life? Or what do you believe about that? I think that holds true.
It's not as easy 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 publish your identity documents, then you've got to wait to get validated, and then lastly, you can go buy some Bitcoin.
So, a lot of individuals discover that too troublesome, and that's why the people that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in perhaps the 20 minutes needed to go through a process which simply takes 5 minutes if you wish to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we like your ideas, but gosh, establishing a crypto account is so challenging." What I tell them is I state, "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 bigger. So you're actually really earning money a massive amount of cash to go through possibly, you know, 20 minutes of a discomfort in the neck (undefined). teeka tiwari review.
So you can't purchase Bitcoin yet through their trading platform, but 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 imagine what will occur to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari reviews - undefined.
Today you mentioned the process that individuals go through, and one thing I wish to bring to light too that you didn't discuss, but I understand a great deal of folks who deal 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, ideal, like Coinbase. It 'd take me forever prior to I might start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari reviews). I suggest, it's if you remember the early days of the Web, when we were getting on the Web, 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 imply, we're in the early days of that innovation, however simply like during that time period, for the folks that had the vision to see where the future was going, and then purchased in on some of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm constantly curious to speak to people who are, especially someone like yourself, who's devoted the last, you understand, the bulk of the last few years to really go both feet in on this - teeka tiwari reviews. How do you describe cryptocurrency to like a typical individual? That's an excellent question.
They're 2 completely different 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. Therefore what gives it value is that it is, there's just going to be a limited amount. There'll never ever 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 continuously attempt to hack it. But since of the nature of the network, today it's been unhackable. And really, with existing innovation, the Bitcoin network is so huge right now, 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 due to the fact that they're stating, "We do not trust fiat money, 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, best [crosstalk 00:10:16], go on.
Yeah (teeka tiwari reviews). Or people that remained in Cypress, or simply individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a catalyst for more adoption, because they already don't think in their own currency? Yeah, and I think we've 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. teeka tiwari palm beach. They resemble, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. But there are billions of individuals in the world that don't have steady currencies.
Yeah. And so there's this whole burgeoning international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari next bitcoin. And energy coins are generally used, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically a worldwide computer that you can compose computer system programs for and run computer system programs on a worldwide decentralized computer system program.
So we consider something like Ether an utility token, because you're basically buying programs power. So I would not truly 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 a concept, like a very simple one that I would imagine you 'd called an utility token, is like FileCoin.
Where the idea 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 resembles unstoppable example, since it's on a lot of different areas and. I do not know the ins and outs of it, however as an example for someone who might simply be really fundamental in their understanding of this, there are many various types of energies that are readily available.
And you kind of discussed 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 look at are utility-based. We have a couple of cryptocurrencies, but I believe the genuine chance depends on the utility coin area.
There's all of these ICOs that were happening, those slowed down a bit with some modifications to a few things that was going on, however individuals are going to come out of the woodwork and begin to develop utility coins- Correct, yeah. And individuals require to comprehend that not all utility coins are created equal - teeka tiwari net worth.
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 founders, you can check the code, etc. However for an average person, there's now what, over 1,000 different types of coins readily available, nearly 1,200 I believe. 'Cause generally it'll crash 80% approximately. And that's when we actually begin looking at the concept in more detail. So here are some fast and filthy things that you should take a look at, right? So, one is, are they resolving an issue that needs to be fixed? Among the huge disadvantages with extremely clever, technical people, is that they like to fix problems that nobody cares about fixing. teeka tiwari picks.
Does the group have experience of performing in a successful way in another area of their life? And it does not even have to be straight associated to cryptocurrency, it does not need to be even straight related to software application, right? So, however I wish to see a performance history of success in something, right? If it's four men in a room that are just out of college, unless they have actually got some really good advisors behind them, I'm probably not going to offer them any money - glenn beck teeka tiwari.
Yeah. I believe that in marketing in basic, my world of service, we constantly look for issues and how we can fix them. Now, are the issues things that people are attempting to resolve a part of the Blockchain typically? Or would you say 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 essentially trying to find services that, so I'll provide you an example - teeka tiwari twitter. undefined.
And the factor that we bought it is since they discovered a way to make documents tamper-proof, and it's 99% less expensive than current technology, 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 performance history of creating computer programs that entire states run their entire operations on, right? So you have actually got okay, the wise guy has built big computer system programs, great group, resolving a massive problem that is going to cut big costs.
I indicate, it does not get any simpler than that in terms of choosing who to put money behind. And a lot of this is common sense, and a great deal of folks will attempt to make things more complex than it is. And I have a really easy rule, Ryan. If I don't comprehend something, I put up my hand, and I say, "I didn't understand what you just said." Mm-hmm (affirmative).