However scams and little scams. And there's something that a scams always does: it always goes to no - glenn beck teeka tiwari. 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 huge hack. And that woke something up for me.
Therefore I can't overlook that. I've got to go dig deeper. teeka tiwari wikipedia." Therefore I started taking a trip all around the world. I started going to Bitcoin occasions; I started to talking to individuals that were smarter than me in this space. And what I recognized is that Blockchain technology and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The ramifications of that, of being able to have data that we don't require to have it independently verified, it's cryptographically validated. That principle can ripple out throughout the whole greater economy. And when that cent dropped, I understood I had to dedicate all my expert 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 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 might not even fully comprehend recognition procedure [inaudible 00:04:11].
We were simply speaking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and after that all of a sudden there's other individuals getting alerted about it, like the IRS and things like that. Do you think that the typical folks don't maybe understand about these procedures, so they do not possibly see what you're saying as this advancement, they don't see it in their daily life? Or what do you consider that? I think that holds true.
It's not as easy as shooting up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You've got to go to an exchange, you have actually got to submit your identity files, then you have actually got to wait to get confirmed, and then lastly, you can go purchase some Bitcoin.
So, a lot of individuals discover that too bothersome, and that's why the people that are actually making the most amount of money right now in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes needed to go through a process which simply takes five minutes if you wish to set up a brokerage account - teeka tiwari.
"Oh Teeka, we love your ideas, but gosh, setting up a crypto account is so tough." What I inform 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 getting paid an enormous amount of money to go through maybe, you know, 20 minutes of a nuisance (undefined). teeka tiwari picks.
So you can't buy Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software application. And can you picture what will occur to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari twitter - undefined.
Today you mentioned the process that individuals go through, and one thing I wish to expose too that you didn't mention, but I understand a great deal of folks who fight with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just buy $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me forever prior to I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari glenn beck). I suggest, it's if you keep in mind the early days of the Internet, when we were getting on the Internet, we were doing it with 56k modems, right? I mean 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 suggest, we remain in the early days of that innovation, but simply like throughout that duration of time, 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm constantly curious to speak with people who are, especially somebody like yourself, who's committed the last, you understand, the bulk of the last few years to actually go both feet in on this - teeka tiwari. How do you describe cryptocurrency to like a typical individual? That's a great concern.
They're 2 absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what offers it worth is that it is, there's only going to be a minimal amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the deals on the Bitcoin network. Therefore if you take a 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 truly, with present technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so when people put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We do not rely on paper money, you can print an unlimited 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 on.
Yeah (teeka tiwari reviews). Or individuals that were in Cypress, or simply individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, because they already don't believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western investors have a hard time getting their head around. teeka tiwari wikipedia. They're like, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin. However there are billions of people on the planet that do not have stable currencies.
Yeah. And so there's this entire growing worldwide need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari next bitcoin. And utility coins are generally used, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is essentially a global computer system that you can compose computer programs for and run computer system programs on an internationally decentralized computer program.
So we consider something like Ether an utility token, since you're essentially buying programs power. So I would not actually think about Ether a cryptocurrency, I would call them an energy 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 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 kind of this exact same kind of network effect that you have with Bitcoin, where it resembles unstoppable example, because it's on many various areas and. I do not know 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 a lot of various kinds of energies that are readily available.
And you sort of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably utility based, correct? 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 utility coin space.
There's all of these ICOs that were occurring, those slowed down a bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And people need to comprehend that not all utility coins are produced equal - teeka tiwari wikipedia.
So you have the advantage of committing your occupation to this, so you can head out there and do the recon, you can satisfy the creators, you can inspect the code, and so on. But for a typical person, there's now what, over 1,000 different kinds of coins available, practically 1,200 I believe. 'Cause generally it'll crash 80% approximately. Which's when we really begin looking at the concept in more detail. So here are some quick and filthy things that you should look at, right? So, one is, are they fixing a problem that needs to be resolved? One of the big drawbacks with very wise, technical people, is that they like to resolve problems that no one appreciates solving. teeka tiwari 5 coins.
Does the team have experience of executing in a successful way in another area of their life? And it doesn't even have to be directly associated to cryptocurrency, it doesn't need to be even directly associated to software application, right? So, however I want to see a performance history 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 great advisors behind them, I'm most likely not going to provide any cash - teeka tiwari wikipedia.
Yeah. I think that in marketing in basic, my world of organization, we continuously search for problems and how we can fix them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain normally? Or would you state it's much better if they're fixing sort of a mass issue? 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 services that, so I'll offer you an example - teeka tiwari picks. undefined.
And the factor that we bought it is since they discovered a method to make documents tamper-proof, and it's 99% cheaper than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that began it has a track record of producing computer system programs that entire states run their entire operations on, right? So you have actually got fine, the smart man has developed substantial computer programs, excellent team, fixing a massive issue that is going to cut big costs.
I suggest, it does not get any easier than that in terms of choosing who to put cash behind. And a great deal of this is common sense, and a lot of folks will attempt to make things more complicated than it is. And I have a really basic guideline, Ryan. If I do not understand something, I set up my hand, and I say, "I didn't understand what you simply stated." Mm-hmm (affirmative).