However scams and small frauds. And there's something that a fraud constantly does: it always goes to zero - teeka tiwari net worth. 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 neglect that. I have actually got to go dig much deeper. teeka tiwari picks." Therefore I started traveling all around the world. I began going to Bitcoin occasions; I began to speaking to individuals that were smarter than me in this space. And what I realized is that Blockchain technology and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The ramifications of that, of being able to have data that we do not need to have it individually confirmed, it's cryptographically verified. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I knew I needed to devote all my expert resources into ending up being a professional in this space.
And do you believe, I imply 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 lot of folks may not even completely understand validation procedure [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and after that all of a sudden there's other people getting notified about it, like the IRS and things like that. Do you think that the typical folks do not maybe understand about these processes, so they don't possibly see what you're saying as this development, they do not see it in their daily life? Or what do you consider that? I believe that's true.
It's not as simple as firing up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You've got to go to an exchange, you have actually got to upload your identity files, then you've got to wait to get confirmed, and after that lastly, you can go buy some Bitcoin.
So, a lot of people find that too bothersome, and that's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in perhaps the 20 minutes needed to go through a process which just takes five minutes if you desire to set up a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we like your concepts, but gosh, establishing 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 making money a huge quantity of money to go through perhaps, you know, 20 minutes of a headache (undefined). teeka tiwari twitter.
So you can't purchase Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, prior to you'll be able to purchase cryptocurrencies directly through your trading software. And can you picture what will take place to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - glenn beck teeka tiwari - undefined.
Today you pointed out the procedure that people go through, and one thing I desire to expose too that you didn't mention, however I understand a great deal 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 difficult as possible, ideal, like Coinbase. It 'd take me permanently before I could begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari glenn beck). I mean, it's if you remember the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I suggest 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 indicate, we're in the early days of that technology, but similar to throughout that period of time, 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 to people who are, particularly somebody like yourself, who's devoted the last, you know, the bulk of the last few years to actually go both feet in on this - teeka tiwari glenn beck. How do you explain cryptocurrency to like a typical individual? That's an excellent concern.
They're 2 absolutely various things, however 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. Therefore what provides it value is that it is, there's only going to be a limited quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly try to hack it. However because of the nature of the network, today it's been unhackable. And truly, with current innovation, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when people put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We don't trust fiat money, you can print an endless quantity of it. It's actually not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari palm beach). Or individuals that were in Cypress, or just individuals who have suffered through either devaluation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, due to the fact that they already don't believe 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 twitter. 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 people in the world that don't have steady currencies.
Yeah. Therefore there's this whole blossoming global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari review. And utility coins are generally utilized, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically an international computer system that you can write computer system programs for and run computer system programs on a worldwide decentralized computer system program.
So we consider something like Ether an utility token, since you're basically purchasing programming power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to offer individuals a concept, like a really simple one that I would picture you 'd called an energy token, resembles FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's kind of this same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on numerous various areas and. I don't understand the ins and outs of it, however as an example for somebody who might simply be very basic in their understanding of this, there are numerous different types of utilities that are available.
And you kind of pointed out having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). Most of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, however I think the real chance lies in the energy coin area.
There's all of these ICOs that were taking place, those decreased a bit with some modifications to a couple of things that was going on, but individuals are going to come out of the woodwork and start to develop energy coins- Correct, yeah. And people need to comprehend that not all energy coins are developed equivalent - glenn beck teeka tiwari.
So you have the advantage of committing your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the creators, you can check the code, and so on. However for an average person, there's now what, over 1,000 various kinds of coins available, nearly 1,200 I believe. 'Cause usually it'll crash 80% or two. Which's when we truly begin taking a look at the concept in more detail. So here are some fast and filthy things that you should take a look at, right? So, one is, are they solving a problem that requires to be fixed? One of the big drawbacks with extremely wise, technical people, is that they like to solve problems that nobody appreciates fixing. glenn beck teeka tiwari.
Does the team have experience of executing in an effective way in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it does not need to be even straight related to software application, right? So, however I want 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've got some truly great consultants behind them, I'm most likely not going to offer them any money - teeka tiwari next bitcoin.
Yeah. I think that in marketing in general, my world of service, we continuously look for issues and how we can fix them. Now, are the issues things that people are attempting to resolve a part of the Blockchain generally? Or would you state it's better if they're resolving kind of a mass issue? 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 solutions that, so I'll give you an example - teeka tiwari palm beach. undefined.
And the reason that we purchased it is since they discovered a method to make documents tamper-proof, and it's 99% more affordable than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a performance history of developing computer programs that whole states run their whole operations on, right? So you have actually got fine, the clever person has developed big computer programs, terrific team, fixing a massive issue that is going to cut huge costs.
I indicate, it does not get any easier than that in regards to choosing who to put money behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually simple guideline, Ryan. If I don't comprehend something, I set up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).