However scams and little scams. And there's something that a fraud constantly does: it constantly goes to absolutely no - teeka tiwari glenn beck. However 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. Which woke something up for me.
And so I can't disregard that. I have actually got to go dig much deeper. teeka tiwari next bitcoin." Therefore I started traveling all around the world. I started going to Bitcoin events; I began to speaking to people that were smarter than me in this area. And what I understood is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The ramifications of that, of having the ability to have data that we do not need to have it individually validated, it's cryptographically validated. That idea can ripple out throughout the entire greater economy. And when that penny dropped, I knew I had to commit all my expert resources into becoming a specialist in this space.
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 great deal of folks might not even completely comprehend validation process [inaudible 00:04:11].
We were simply discussing how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then all of an unexpected 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 perhaps learn about these processes, so they don't possibly see what you're saying as this advancement, they do not see it in their everyday life? Or what do you think of that? I think that holds true.
It's not as simple as firing up a web internet browser and going to e-trade. com and pressing 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 validated, and then lastly, you can go purchase some Bitcoin.
So, a great deal of people discover that too inconvenient, and that's why individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: individuals that want to put in perhaps the 20 minutes required to go through a process which simply takes five minutes if you desire to set up a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so hard." What I inform them is I state, "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 actually really getting paid an enormous amount of money to go through possibly, you know, 20 minutes of a pain in the neck (undefined). teeka tiwari picks.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software. And can you envision what will occur to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari next bitcoin - undefined.
Right now you discussed the procedure that individuals go through, and one thing I wish to expose too that you didn't mention, but I understand a lot of folks who fight with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As hard as possible, best, like Coinbase. It 'd take me forever before I could start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari). I mean, 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 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 imply, we remain in the early days of that innovation, however much 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 business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to talk with individuals who are, especially somebody like yourself, who's dedicated the last, you understand, the lion's share of the last couple of years to truly go both feet in on this - teeka tiwari 5 coins. How do you describe cryptocurrency to like an average person? That's a great question.
They're 2 totally various things, but 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 offers it worth is that it is, there's just going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals constantly try to hack it. However since of the nature of the network, today it's been unhackable. And actually, 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 people put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not rely on paper cash, you can print a limitless amount of it. It's really not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari twitter). Or people that were in Cypress, or just individuals who have suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, due to the fact that they currently don't think in their own currency? Yeah, and I think we have actually 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 wikipedia. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. But there are billions of people in the world that don't have stable currencies.
Yeah. Therefore there's this entire burgeoning worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari picks. And energy coins are essentially used, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is essentially a worldwide computer that you can write computer programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, because you're essentially buying programming power. So I wouldn't really think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari twitter. And there are other ones out there, to provide individuals an idea, like an extremely easy one that I would picture you 'd called an energy token, resembles FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's sort of this very same kind of network effect that you have with Bitcoin, where it's like unstoppable example, since it's on numerous various locations and. I don't know the ins and outs of it, however as an example for someone who may just be really standard in their understanding of this, there are many various types of utilities that are offered.
And you type 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 energy based, correct? Mm-hmm (affirmative). The majority of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, but I think the real opportunity lies in the utility coin area.
There's all of these ICOs that were occurring, those decreased a little bit with some changes to a few things that was going on, however people are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And individuals require to understand that not all utility coins are produced equal - teeka tiwari next bitcoin.
So you have the advantage of committing your profession to this, so you can go out there and do the recon, you can fulfill the founders, you can examine the code, and so on. However for an average individual, there's now what, over 1,000 different kinds of coins available, practically 1,200 I think. 'Cause generally it'll crash 80% or two. Which's when we truly begin looking at the concept in more information. So here are some fast and unclean things that you should take a look at, right? So, one is, are they fixing an issue that needs to be fixed? Among the big drawbacks with extremely smart, technical individuals, is that they like to fix issues that nobody cares about solving. teeka tiwari reviews.
Does the group have experience of executing in a successful way in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't have to be even directly associated to software application, right? So, but I want to see a track record of success in something, right? If it's four guys in a space that are just out of college, unless they have actually got some really great consultants behind them, I'm probably not going to provide any cash - teeka tiwari reviews.
Yeah. I believe that in marketing in basic, my world of organization, we continuously look for issues and how we can resolve them. Now, are the issues things that people are trying to resolve a part of the Blockchain generally? Or would you state it's much better if they're fixing type 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 looking for services that, so I'll provide you an example - teeka tiwari reviews. undefined.
And the reason that we purchased it is due to the fact that they discovered a way to make documents tamper-proof, and it's 99% more affordable 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 creating computer programs that entire states run their entire operations on, right? So you've got all right, the wise person has constructed huge computer system programs, terrific team, resolving a massive problem that is going to cut huge costs.
I mean, it does not get any simpler than that in terms of choosing who to put cash behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually basic guideline, Ryan. If I do not understand something, I set up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).