But scams and little scams. And there's one thing that a fraud constantly does: it constantly goes to no - teeka tiwari wikipedia. But 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. Which woke something up for me.
And so I can't overlook that. I have actually got to go dig deeper. teeka tiwari glenn beck." And so I started traveling all around the world. I started going to Bitcoin events; I began to talking with people that were smarter than me in this space. And what I recognized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have data that we do not require to have it separately confirmed, it's cryptographically verified. That principle can ripple out throughout the entire greater economy. And when that cent dropped, I knew I needed to devote all my professional resources into ending up being a professional in this area.
And do you believe, I suggest you discussed something there about not needing to get a third-party, or intermediary to validate 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 fully comprehend recognition procedure [inaudible 00:04:11].
We were simply discussing how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then all of an unexpected there's other people getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks don't perhaps learn about these procedures, so they do not perhaps see what you're saying as this breakthrough, they don't see it in their daily 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 buying it, right? You have actually got to go to an exchange, you have actually got to upload your identity documents, then you've got to wait to get validated, and after that finally, you can go buy some Bitcoin.
So, a great deal of individuals discover that too inconvenient, and that's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that are willing to put in perhaps the 20 minutes needed to go through a process which just takes five minutes if you wish to set up a brokerage account - teeka tiwari 5 coins.
"Oh Teeka, we love your concepts, but gosh, setting up a crypto account is so challenging." 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 bigger. So you're in fact really making money a huge quantity of money to go through possibly, you understand, 20 minutes of a nuisance (undefined). glenn beck teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software. And can you envision what will occur to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari picks - undefined.
Today you mentioned the procedure that people go through, and something I want to expose too that you didn't discuss, however I know a lot of folks who struggle with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can only purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me permanently before I might start purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari). I indicate, it's if you remember the early days of the Internet, when we were getting on the Internet, 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 innovation, however much like throughout 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 absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm always curious to talk with people who are, especially someone like yourself, who's dedicated the last, you know, the bulk of the last couple of years to actually go both feet in on this - teeka tiwari net worth. How do you explain cryptocurrency to like a typical person? That's a fantastic concern.
They're two totally different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what offers it worth is that it is, there's just going to be a restricted quantity. 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 try to hack it. However since of the nature of the network, today it's been unhackable. And truly, with existing technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We do not trust paper cash, you can print an endless amount of it. It's truly not protect, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari review). Or individuals that were in Cypress, or just people who have actually suffered through either hyperinflation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst 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 lot of American or Western financiers have a difficult time getting their head around. teeka tiwari. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin. However there are billions of people on the planet that do not have stable currencies.
Yeah. And so there's this entire blossoming global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari next bitcoin. And energy coins are essentially utilized, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is basically a worldwide computer that you can compose computer system programs for and run computer programs on an internationally decentralized computer system program.
So we consider something like Ether an utility token, because you're essentially purchasing programs power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to give individuals an idea, like a really basic one that I would picture you 'd called an utility token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's kind of this very same type of network effect that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on a lot of various areas and. I do not understand the ins and outs of it, however as an example for somebody who may just be very basic in their understanding of this, there are many different kinds of utilities that are offered.
And you sort of mentioned having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Most of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine opportunity depends on the utility coin area.
There's all of these ICOs that were happening, those slowed down a little bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And individuals need to understand that not all utility coins are developed equal - teeka tiwari net worth.
So you have the benefit of dedicating your occupation to this, so you can head out there and do the reconnaissance, you can meet the founders, you can check the code, etc. But for a typical individual, there's now what, over 1,000 various types of coins available, nearly 1,200 I believe. 'Cause typically it'll crash 80% or two. Which's when we really begin taking a look at the concept in more information. So here are some fast and unclean things that you should look at, right? So, one is, are they resolving an issue that needs to be resolved? One of the huge downsides with really clever, technical people, is that they like to solve issues that no one cares about resolving. glenn beck teeka tiwari.
Does the group have experience of executing in an effective manner in another area of their life? And it does not even need to be straight related to cryptocurrency, it does not need to be even directly related to software application, right? So, but I wish 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've got some really excellent advisors behind them, I'm probably not going to provide any cash - teeka tiwari next bitcoin.
Yeah. I think that in marketing in general, my world of business, we constantly look for issues and how we can solve them. Now, are the issues things that people are trying to solve a part of the Blockchain generally? Or would you state it's much better if they're solving 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 solutions that, so I'll give you an example - teeka tiwari glenn beck. 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 guy that began it has a track record of producing computer system programs that whole states run their entire operations on, right? So you've got all right, the wise guy has actually developed substantial computer programs, great group, resolving an enormous problem that is going to cut huge costs.
I indicate, it does not get any easier than that in regards to choosing who to put cash behind. And a lot of this prevails sense, and a great deal of folks will try to make things more complex than it is. And I have a really basic rule, 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).