However scams and little frauds. And there's something that a scams constantly does: it always goes to no - teeka tiwari. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The enormous hack. And that woke something up for me.
And so I can't overlook that. I have actually got to go dig deeper. teeka tiwari reviews." Therefore I started traveling all around the world. I began going to Bitcoin occasions; I started to talking to individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have data that we don't need to have it individually validated, it's cryptographically confirmed. That concept can ripple out throughout the entire greater economy. And when that penny dropped, I understood I had to devote all my professional resources into becoming a professional in this space.
And do you think, I suggest you discussed something there about not having to get a third-party, or intermediary to verify something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a lot of folks may not even fully understand recognition process [inaudible 00:04:11].
We were just talking about how I'm leaving to 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 do not maybe understand about these processes, 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 holds true.
It's not as simple as firing up a web browser and going to e-trade. com and pressing a buy button and buying it, right? You have actually got to go to an exchange, you have actually got to submit your identity documents, then you've got to wait to get verified, and after that finally, you can go purchase some Bitcoin.
So, a great deal of people discover that too inconvenient, and that's why the individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes required to go through a procedure which just takes 5 minutes if you want to establish a brokerage account - teeka tiwari 5 coins.
"Oh Teeka, we like your ideas, however gosh, setting up a crypto account is so hard." What I tell 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 larger. So you're in fact truly getting paid a huge amount of money to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari twitter.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you envision what will occur to this whole marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari twitter - undefined.
Today you pointed out the process that people go through, and one thing I wish to expose too that you didn't discuss, however I know a lot of folks who have problem with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can only purchase $500 a week.
As hard as possible, right, like Coinbase. It 'd take me forever prior to I might begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari wikipedia). I mean, 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 fill a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I mean, we remain in the early days of that innovation, but much like during that time period, 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, since I'm always curious to speak to individuals who are, particularly somebody like yourself, who's devoted the last, you know, the lion's share of the last few years to really go both feet in on this - teeka tiwari twitter. How do you explain cryptocurrency to like an average person? That's an excellent concern.
They're two absolutely various things, but 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 provides it worth is that it is, there's just going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals constantly try 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 today, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you've got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't rely on paper money, you can print a limitless amount of it. It's really not protect, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari glenn beck). Or people that remained in Cypress, or simply individuals who have actually suffered through either run-away inflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, since they currently do not believe in their own currency? Yeah, and I believe we've already 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 wikipedia. They're like, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin. However there are billions of individuals on the planet that don't have steady currencies.
Yeah. And so there's this whole burgeoning international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari wikipedia. And utility coins are generally used, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically a global computer that you can compose computer 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 basically buying shows power. So I wouldn't really consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to provide individuals a concept, like an extremely basic one that I would picture you 'd called an energy token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's type of this same kind of network result that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on many various areas and. I do not understand the ins and outs of it, however as an example for somebody who may just be very fundamental in their understanding of this, there are numerous different kinds of energies that are available.
And you kind of mentioned having this boots on the ground experience. Now, since we're taking a look at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). Most of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I believe the genuine chance depends on the utility coin space.
There's all of these ICOs that were occurring, those slowed down a little bit with some modifications to a few things that was going on, however individuals are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And individuals require to comprehend that not all utility coins are developed equal - teeka tiwari glenn beck.
So you have the benefit of dedicating your profession to this, so you can go out there and do the reconnaissance, you can fulfill the creators, you can inspect the code, etc. But for an average person, there's now what, over 1,000 different kinds of coins offered, almost 1,200 I believe. 'Cause typically it'll crash 80% or two. Which's when we truly begin looking at the concept in more information. So here are some quick and filthy things that you should take a look at, right? So, one is, are they solving an issue that requires to be resolved? Among the huge downsides with really clever, technical people, is that they like to resolve problems that nobody appreciates resolving. teeka tiwari next bitcoin.
Does the team have experience of carrying out in an effective manner in another area of their life? And it does not even need to be straight related to cryptocurrency, it does not have to be even directly associated to software, right? So, however I wish to see a performance history of success in something, right? If it's four guys in a space that are just out of college, unless they've got some really excellent advisors behind them, I'm most likely not going to provide any money - teeka tiwari next bitcoin.
Yeah. I believe that in marketing in general, my world of business, we continuously search for problems and how we can solve them. Now, are the problems things that people are attempting to resolve a part of the Blockchain generally? Or would you say it's better if they're resolving kind 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 basically looking for options that, so I'll give you an example - teeka tiwari net worth. undefined.
And the reason that we purchased it is since they discovered a way to make files tamper-proof, and it's 99% cheaper than current technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that started it has a performance history of developing computer programs that entire states run their entire operations on, right? So you have actually got fine, the clever guy has actually constructed huge computer programs, great group, resolving an enormous issue that is going to cut big expenses.
I suggest, it doesn't get any easier than that in regards to deciding who to put money behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have a truly simple rule, Ryan. If I don't understand something, I installed my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).