However frauds and small frauds. And there's something that a fraud always does: it always goes to no - teeka tiwari net worth. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. Which woke something up for me.
Therefore I can't overlook that. I have actually got to go dig much deeper. teeka tiwari." And so I started traveling all around the world. I began going to Bitcoin events; I started to speaking with 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 overstate how massive that is! The implications of that, of being able to have information that we do not require to have it separately validated, it's cryptographically confirmed. That concept can ripple out throughout the entire higher economy. And when that penny dropped, I knew I had to devote all my professional resources into ending up being an expert in this space.
And do you believe, I imply you pointed out something there about not having 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 totally understand recognition process [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and then suddenly there's other people getting informed about it, like the IRS and things like that. Do you believe that the average folks don't possibly understand about these procedures, so they do not perhaps see what you're stating as this development, they don't see it in their everyday life? Or what do you believe about that? I believe that holds true.
It's not as easy as shooting 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 submit your identity files, then you have actually got to wait to get verified, and then finally, you can go buy 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 possibly the 20 minutes needed to go through a process which simply takes 5 minutes if you desire to set up a brokerage account - teeka tiwari next bitcoin.
"Oh Teeka, we enjoy your concepts, but gosh, establishing 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 entire cryptocurrency market will be 10x bigger. So you're in fact really earning money an enormous amount of money to go through maybe, you know, 20 minutes of a discomfort in the neck (undefined). teeka tiwari review.
So you can't purchase Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, prior to you'll be able to purchase cryptocurrencies straight through your trading software application. And can you imagine what will happen 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 next bitcoin - undefined.
Today you pointed out the procedure that people go through, and one thing I desire to bring to light too that you didn't mention, but I understand a great deal of folks who struggle 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 forever prior to I might begin buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari next bitcoin). I mean, 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 imply, we're in the early days of that technology, 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, because I'm constantly curious to speak to people who are, particularly someone like yourself, who's devoted the last, you understand, the bulk of the last couple of years to truly go both feet in on this - teeka tiwari palm beach. How do you explain cryptocurrency to like an average individual? That's an excellent concern.
They're two totally various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what offers 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 computer systems, validating the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, people constantly attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so big 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 literally own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We don't trust paper cash, you can print a limitless quantity of it. It's really not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go on.
Yeah (teeka tiwari). Or individuals that were in Cypress, or just people who have actually suffered through either run-away inflation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, since they already don't think in their own currency? Yeah, and I believe 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 review. They're like, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. But there are billions of individuals on the planet that do not have steady currencies.
Yeah. Therefore there's this whole growing worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari. And utility coins are generally used, let's say Ethereum, which a great deal of people learn about Ethereum. Ethereum is essentially an international computer that you can compose computer programs for and run computer programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, since you're essentially buying programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari. And there are other ones out there, to provide individuals a concept, like a very simple one that I would imagine you 'd called an energy token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's type of this exact same kind of network effect that you have with Bitcoin, where it resembles unstoppable example, because it's on numerous various areas and. I don't know the ins and outs of it, but as an example for somebody who might just be very fundamental in their understanding of this, there are so many various kinds of energies that are offered.
And you sort of mentioned having this boots on the ground experience. Now, because we're looking at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Most of the coins that I suggest and take a look at are utility-based. We have a couple of cryptocurrencies, however I believe the real chance depends on the energy coin area.
There's all of these ICOs that were happening, those decreased a little bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people need to comprehend that not all utility coins are created equivalent - teeka tiwari 5 coins.
So you have the benefit of devoting your profession to this, so you can go out there and do the reconnaissance, you can meet the creators, you can inspect the code, etc. However for a typical person, there's now what, over 1,000 various types of coins readily available, practically 1,200 I believe. 'Cause usually it'll crash 80% or so. And that's when we really begin looking at the concept in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they fixing an issue that requires to be solved? One of the big drawbacks with extremely smart, technical individuals, is that they like to solve issues that no one appreciates solving. teeka tiwari wikipedia.
Does the team have experience of performing in an effective manner in another location of their life? And it does not even need to be straight related to cryptocurrency, it doesn't need to be even directly related to software application, right? So, but I desire to see a performance history of success in something, right? If it's four people in a room that are just out of college, unless they have actually got some actually excellent advisors behind them, I'm most likely not going to give them any cash - teeka tiwari net worth.
Yeah. I believe that in marketing in basic, my world of service, we continuously look for problems and how we can resolve them. Now, are the problems things that people are attempting to solve a part of the Blockchain generally? Or would you say it's much 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 essentially searching for services that, so I'll give you an example - teeka tiwari picks. undefined.
And the factor that we purchased it is due to the fact that they discovered a way to make documents 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 began it has a track record of producing computer programs that entire states run their entire operations on, right? So you have actually got fine, the smart man has developed big computer programs, great group, resolving a massive issue that is going to cut huge costs.
I mean, it does not get any easier than that in terms of choosing who to put money behind. And a great deal of this is common sense, and a lot of folks will try to make things more complex than it is. And I have an actually simple rule, Ryan. If I don't understand something, I put up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).