However frauds and small frauds. And there's something that a fraud constantly does: it constantly goes to no - teeka tiwari review. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The massive hack. Which woke something up for me.
Therefore I can't disregard that. I have actually got to go dig deeper. teeka tiwari net worth." Therefore I began traveling all around the world. I started going to Bitcoin events; I started to talking to people that were smarter than me in this space. And what I realized is that Blockchain technology and the application 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 need to have it individually validated, it's cryptographically confirmed. That concept can ripple out throughout the entire higher economy. And when that penny dropped, I understood I had to devote all my professional resources into becoming a professional in this area.
And do you believe, I suggest 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 factor that this isn't getting as much mass adoption is that a lot of folks may not even totally understand recognition 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 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 processes, so they do not maybe see what you're stating as this development, they don't see it in their daily life? Or what do you think of that? I believe that holds true.
It's not as easy as firing 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've 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 lot of people discover that too inconvenient, which's why the individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that are willing to put in possibly the 20 minutes required to go through a process which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari 5 coins.
"Oh Teeka, we like your ideas, however gosh, setting up a crypto account is so tough." What I inform 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 amount of money to go through maybe, 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 simply a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software. And can you picture what will occur to this entire market when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari picks - undefined.
Right now you pointed out the procedure that people go through, and something I wish to expose too that you didn't discuss, however I understand a lot of folks who battle with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can only purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me forever before I could start purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari picks). 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 imply 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 suggest, we're in the early days of that technology, but similar to throughout that duration of time, for the folks that had the vision to see where the future was going, and then bought in on a few of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm always curious to talk with individuals who are, particularly someone like yourself, who's devoted the last, you know, the much better part of the last couple of years to actually go both feet in on this - teeka tiwari wikipedia. How do you describe cryptocurrency to like an average person? That's a terrific question.
They're 2 totally various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what offers it worth is that it is, there's just going to be a limited quantity. There'll never 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, individuals constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And actually, with existing innovation, 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've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't trust paper currency, you can print an endless amount of it. It's actually 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 (glenn beck teeka tiwari). Or people that were in Cypress, or simply people who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, due to the fact that they already do not believe in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. teeka tiwari net worth. They're like, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of individuals in the world that don't have stable currencies.
Yeah. And so there's this entire burgeoning international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari wikipedia. And energy coins are generally utilized, let's state Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically an international computer system 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 energy token, because you're essentially purchasing shows power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari. And there are other ones out there, to offer individuals a concept, like a really simple one that I would envision you 'd called an energy token, resembles FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's sort of this exact same type of network impact that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on so lots of different locations and. I do not understand the ins and outs of it, however as an example for someone who may just be very standard in their understanding of this, there are a lot of various 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 energy based, correct? Mm-hmm (affirmative). The majority of the coins that I recommend 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 decreased a little bit with some changes to a couple of things that was going on, but individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And individuals need to understand that not all energy coins are created equal - teeka tiwari.
So you have the advantage of dedicating your occupation to this, so you can head out there and do the recon, 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 different types of coins available, nearly 1,200 I think. 'Cause normally it'll crash 80% approximately. And that's when we truly start taking a look at the idea in more detail. So here are some fast and filthy things that you should look at, right? So, one is, are they resolving a problem that needs to be resolved? One of the huge downsides with very clever, technical individuals, is that they like to fix problems that no one appreciates solving. teeka tiwari review.
Does the group have experience of carrying out in a successful manner in another location of their life? And it doesn't even have to be directly associated to cryptocurrency, it does not have to be even straight related to software application, right? So, but I wish to see a performance history of success in something, right? If it's 4 people in a room that are simply out of college, unless they have actually got some truly excellent advisors behind them, I'm most likely not going to give them any cash - teeka tiwari palm beach.
Yeah. I believe that in marketing in general, my world of service, we continuously look for problems and how we can fix them. Now, are the issues things that people are attempting to fix a part of the Blockchain generally? Or would you say it's much better if they're fixing 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 essentially trying to find services that, so I'll provide you an example - teeka tiwari picks. undefined.
And the factor that we purchased it is because they found a method to make files tamper-proof, and it's 99% less expensive than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a performance history of producing computer programs that entire states run their whole operations on, right? So you've got all right, the wise guy has actually built big computer programs, fantastic group, solving a huge issue that is going to cut substantial costs.
I suggest, it does not get any easier than that in terms of choosing who to put money behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have an actually simple rule, Ryan. If I don't understand something, I set up my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).