But frauds and small scams. And there's one thing that a fraud constantly does: it always goes to 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. And that woke something up for me.
Therefore I can't overlook that. I have actually got to go dig deeper. teeka tiwari palm beach." And so I started taking a trip all around the world. I began going to Bitcoin events; I started to speaking with individuals that were smarter than me in this area. 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 overemphasize how enormous that is! The implications of that, of having the ability to have information that we don't require to have it separately confirmed, it's cryptographically verified. That idea can ripple out throughout the entire greater economy. And when that cent dropped, I understood I needed to devote all my professional resources into becoming a professional in this space.
And do you believe, I imply you discussed 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 may not even completely comprehend validation procedure [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and then all of an unexpected there's other people getting informed about it, like the IRS and things like that. Do you believe that the typical folks do not possibly understand about these processes, so they do not maybe see what you're saying as this breakthrough, they do not see it in their everyday life? Or what do you think of that? I believe that's 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've got to upload your identity documents, then you have actually got to wait to get validated, and after that lastly, you can go purchase some Bitcoin.
So, a great deal of people discover that too inconvenient, which's why individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals 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 picks.
"Oh Teeka, we enjoy your ideas, but gosh, establishing a crypto account is so difficult." 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 whole cryptocurrency market will be 10x bigger. So you're actually really making money a huge amount of cash to go through maybe, you understand, 20 minutes of a pain in the neck (undefined). teeka tiwari palm beach.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, before you'll be able to buy cryptocurrencies directly through your trading software. And can you envision what will take place to this whole market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari wikipedia - undefined.
Right now you discussed the procedure that people go through, and one thing I want 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 purchase $1,000 a week. Or you can just buy $500 a week.
As difficult as possible, ideal, like Coinbase. It 'd take me forever prior to I might begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari 5 coins). I indicate, it's if you keep in mind the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I suggest 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 technology, however much like during that amount of time, for the folks that had the vision to see where the future was going, and after that purchased 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 second, because I'm constantly curious to talk with people who are, specifically someone like yourself, who's devoted the last, you know, the much better part of the last few years to actually go both feet in on this - teeka tiwari next bitcoin. How do you describe cryptocurrency to like a typical person? That's an excellent concern.
They're 2 absolutely various 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 provides it value is that it is, there's only going to be a restricted amount. There'll never ever 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 look at that Bitcoin network, individuals constantly try to hack it. But because of the nature of the network, today it's been unhackable. And actually, with current 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 people who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't rely on paper currency, you can print an endless quantity of it. It's truly not protect, 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 glenn beck). Or people that remained in Cypress, or simply individuals who have suffered through either devaluation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, due to the fact that they currently do not think in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride getting their head around. teeka tiwari reviews. They resemble, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't need Bitcoin. But there are billions of people worldwide that don't have stable currencies.
Yeah. Therefore there's this whole growing worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari wikipedia. And energy coins are basically used, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a worldwide computer that you can compose computer programs for and run computer programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, because you're essentially buying programming power. So I would not truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari picks. And there are other ones out there, to give individuals a concept, like a really basic 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 same type of network effect that you have with Bitcoin, where it resembles unstoppable kind of thing, due to the fact that it's on numerous different areas and. I don't know the ins and outs of it, however as an example for somebody who might just be extremely basic in their understanding of this, there are so many various kinds of utilities that are available.
And you sort of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I think the real opportunity depends on the energy coin space.
There's all of these ICOs that were occurring, those slowed down a little bit with some changes to a few things that was going on, but individuals are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And people need to understand that not all energy coins are produced equivalent - teeka tiwari.
So you have the benefit of devoting your profession to this, so you can head out there and do the recon, you can meet the creators, you can check the code, and so on. But for an average person, there's now what, over 1,000 different kinds of coins available, practically 1,200 I believe. 'Cause typically it'll crash 80% or so. And that's when we really begin taking a look at the concept in more detail. 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 requires to be solved? Among the big drawbacks with really wise, technical individuals, is that they like to solve problems that no one cares about solving. teeka tiwari palm beach.
Does the team have experience of executing in a successful manner in another location of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't have to be even straight associated to software, right? So, but I desire to see a performance history of success in something, right? If it's four men in a room that are simply out of college, unless they have actually got some really great consultants behind them, I'm most likely not going to provide any money - teeka tiwari glenn beck.
Yeah. I believe that in marketing in general, my world of service, we continuously try to find problems and how we can solve them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain usually? Or would you say it's much better if they're fixing 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 trying to find options that, so I'll provide you an example - teeka tiwari picks. undefined.
And the reason that we bought it is because they found a method to make files 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 performance history of creating computer programs that entire states run their entire operations on, right? So you have actually got all right, the smart guy has built huge computer programs, excellent team, resolving a huge problem that is going to cut substantial expenses.
I imply, it doesn't get any easier than that in terms of deciding who to put cash 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 truly basic guideline, Ryan. If I don't comprehend something, I set up my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).