However scams and little frauds. And there's something that a fraud constantly does: it always goes to no - teeka tiwari 5 coins. 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.
And so I can't disregard that. I have actually got to go dig deeper. teeka tiwari net worth." Therefore I started taking a trip all around the world. I began going to Bitcoin occasions; I began to talking with individuals that were smarter than me in this space. And what I realized is that Blockchain technology and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of having the ability to have information that we don't require to have it individually verified, it's cryptographically verified. That idea can ripple out throughout the entire higher economy. And when that penny dropped, I understood I needed to devote all my professional resources into ending up being an expert in this space.
And do you believe, I suggest you mentioned 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 great deal of folks may not even totally understand 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 IRS and things like that. Do you believe that the average folks do not possibly learn about these processes, so they do not possibly see what you're saying as this breakthrough, they don't see it in their everyday life? Or what do you think of that? I think 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 lastly, you can go purchase some Bitcoin.
So, a great deal of individuals discover that too troublesome, and that's why the individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes needed to go through a process which just takes five minutes if you want to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we enjoy your concepts, but gosh, setting up a crypto account is so challenging." 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 bigger. So you're actually truly making money a huge amount of cash to go through perhaps, you understand, 20 minutes of a pain in the neck (undefined). teeka tiwari wikipedia.
So you can't purchase Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll have the ability to buy cryptocurrencies straight through your trading software. And can you imagine what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari palm beach - undefined.
Today you discussed the process that people go through, and one thing I wish to expose too that you didn't mention, however 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 purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me permanently before I might begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari review). I suggest, 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 imply 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 technology, but simply like throughout 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, since I'm constantly curious to talk with people who are, especially someone 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 picks. How do you explain cryptocurrency to like an average person? That's a fantastic question.
They're 2 totally different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what gives it value is that it is, there's just going to be a minimal quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously attempt to hack it. However because of the nature of the network, today it's been unhackable. And really, with existing innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We don't rely on paper money, you can print a limitless quantity of it. It's actually not protect, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari review). Or people that were in Cypress, or just individuals who have 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 driver for more adoption, since they currently do not think in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a difficult time getting their head around. teeka tiwari next bitcoin. They're like, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. However there are billions of individuals on the planet that don't have stable currencies.
Yeah. Therefore there's this entire growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari net worth. And energy coins are generally utilized, let's say Ethereum, which a lot of people learn about Ethereum. Ethereum is essentially a worldwide 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, since you're essentially purchasing programs power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. glenn beck teeka tiwari. And there are other ones out there, to provide individuals an idea, like an extremely easy one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's type of this very same type of network effect that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on numerous different locations and. I do not know the ins and outs of it, however as an example for someone who might simply be extremely basic in their understanding of this, there are many various kinds of utilities that are available.
And you kind of mentioned having this boots on the ground experience. Now, since we're looking at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, but I believe the genuine chance lies in the utility coin space.
There's all of these ICOs that were happening, those decreased a little bit with some changes to a few things that was going on, however individuals are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And people need to comprehend that not all utility coins are created equivalent - teeka tiwari review.
So you have the benefit of dedicating your profession to this, so you can head out there and do the reconnaissance, you can fulfill the creators, you can inspect the code, etc. But for an average individual, there's now what, over 1,000 different types of coins available, practically 1,200 I think. 'Cause generally it'll crash 80% approximately. Which's when we actually start looking 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 fixing a problem that needs to be fixed? Among the big drawbacks with extremely wise, technical individuals, is that they like to resolve issues that no one appreciates fixing. teeka tiwari palm beach.
Does the group have experience of performing in an effective way in another location of their life? And it doesn't even need to be straight related to cryptocurrency, it doesn't need to be even directly associated to software application, right? So, however I wish to see a performance history of success in something, right? If it's 4 people in a room that are simply out of college, unless they've got some truly good consultants behind them, I'm probably not going to offer them any money - teeka tiwari.
Yeah. I think that in marketing in general, my world of business, we constantly look for problems and how we can fix them. Now, are the issues things that people are trying to resolve a part of the Blockchain typically? Or would you state it's much 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 looking for solutions that, so I'll provide you an example - glenn beck teeka tiwari. undefined.
And the reason that we purchased it is since they found a method to make documents tamper-proof, and it's 99% less expensive than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that began it has a track record of producing computer system programs that entire states run their entire operations on, right? So you've got fine, the smart guy has built big computer system programs, excellent group, solving a huge problem that is going to cut substantial costs.
I suggest, it does not get any simpler than that in regards to deciding who to put cash behind. And a great deal of this is typical sense, and a lot of folks will try to make things more complex than it is. And I have an actually basic rule, Ryan. If I don't understand something, I put up my hand, and I say, "I didn't understand what you simply said." Mm-hmm (affirmative).