But frauds and small frauds. And there's something that a scams always does: it always goes to zero - teeka tiwari 5 coins. 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 massive hack. And that woke something up for me.
And so I can't ignore that. I've got to go dig deeper. teeka tiwari." And so I began taking a trip all around the world. I started going to Bitcoin events; I began to speaking to people that were smarter than me in this space. And what I understood is that Blockchain technology and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The implications of that, of having the ability to have information that we do not need to have it independently validated, it's cryptographically confirmed. That concept can ripple out throughout the whole greater economy. And when that cent dropped, I knew I had to commit all my expert resources into becoming an expert in this area.
And do you think, I suggest you discussed something there about not needing 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 great deal of folks may not even completely comprehend validation process [inaudible 00:04:11].
We were just discussing how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that all of a sudden there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not maybe understand about these processes, so they don't maybe see what you're saying as this advancement, they don't see it in their everyday life? Or what do you consider that? I think that holds true.
It's not as easy as shooting up a web internet browser and going to e-trade. com and pushing a buy button and purchasing 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 verified, and after that finally, you can go buy some Bitcoin.
So, a great deal of individuals find that too inconvenient, and that's why the people that are actually making the most amount of cash today in cryptocurrencies are the early adopters: individuals that want to put in maybe the 20 minutes required to go through a procedure which simply takes five minutes if you wish to set up a brokerage account - teeka tiwari picks.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so challenging." What I tell them is I state, "Look, when it's simple 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 truly earning money a massive quantity of cash to go through possibly, you know, 20 minutes of a discomfort in the neck (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 buy cryptocurrencies straight through your trading software. And can you imagine what will occur to this entire market when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari wikipedia - undefined.
Right now you mentioned the procedure that individuals go through, and one thing I wish to expose too that you didn't point out, but I understand a great deal of folks who deal with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me forever prior to I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari reviews). I mean, it's if you keep in mind the early days of the Internet, when we were getting on the Web, 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 indicate, we're in the early days of that technology, however similar to 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 companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, due to the fact that I'm constantly curious to speak with people who are, particularly someone like yourself, who's devoted the last, you understand, the bulk of the last few years to truly go both feet in on this - teeka tiwari wikipedia. How do you describe cryptocurrency to like an average individual? That's an excellent concern.
They're two absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it worth is that it is, there's just going to be a limited quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals continuously try to hack it. But since 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).
Therefore when people put, you've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't trust paper currency, you can print an endless amount of it. It's truly not protect, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari reviews). Or individuals that were in Cypress, or just individuals who have actually suffered through either run-away inflation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, because they already don't believe 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 next bitcoin. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. However there are billions of people on the planet that don't have stable currencies.
Yeah. And so there's this whole burgeoning global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari reviews. And utility coins are generally utilized, let's say Ethereum, which a great deal of individuals know about Ethereum. Ethereum is essentially an international computer system that you can write computer system 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 basically purchasing programs power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. glenn beck teeka tiwari. And there are other ones out there, to offer people an idea, like a very basic one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's kind of this exact same kind of network impact that you have with Bitcoin, where it resembles unstoppable kind of thing, due to the fact that it's on a lot of different areas and. I do not understand the ins and outs of it, however as an example for someone who may just be extremely standard in their understanding of this, there are so many different types of utilities that are offered.
And you kind of discussed having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). Many of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, however I believe the genuine opportunity lies in the utility coin space.
There's all of these ICOs that were occurring, those decreased a little bit with some modifications to a couple of things that was going on, however people are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And individuals require to comprehend that not all energy coins are produced equal - teeka tiwari palm beach.
So you have the benefit of dedicating your profession to this, so you can head out there and do the reconnaissance, you can fulfill the creators, you can inspect the code, etc. But for a typical person, there's now what, over 1,000 different kinds of coins offered, almost 1,200 I think. 'Cause normally it'll crash 80% or so. Which's when we actually begin taking a look at the idea in more detail. So here are some quick and unclean things that you should take a look at, right? So, one is, are they solving an issue that needs to be fixed? Among the big disadvantages with really smart, technical people, is that they like to resolve problems that nobody cares about resolving. teeka tiwari.
Does the group have experience of executing in an effective manner in another area of their life? And it doesn't even have to be directly associated to cryptocurrency, it does not 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 4 guys in a space that are simply out of college, unless they've got some actually good advisors behind them, I'm probably not going to provide any money - teeka tiwari wikipedia.
Yeah. I believe that in marketing in basic, my world of company, we continuously search for issues and how we can fix them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain typically? Or would you say it's much better if they're solving type 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 generally trying to find services that, so I'll offer you an example - teeka tiwari 5 coins. undefined.
And the reason that we bought it is because they found a way 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 guy that began it has a track record of developing computer programs that whole states run their whole operations on, right? So you've got fine, the wise person has actually developed huge computer system programs, excellent group, solving an enormous issue that is going to cut substantial costs.
I suggest, it doesn't get any easier than that in terms of deciding who to put money behind. And a lot of this prevails sense, and a great deal of folks will try to make things more complicated than it is. And I have a truly simple guideline, Ryan. If I do not comprehend something, I set up my hand, and I say, "I didn't understand what you simply said." Mm-hmm (affirmative).