But frauds and small scams. And there's one thing that a fraud always does: it always goes to absolutely no - teeka tiwari next bitcoin. 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 huge hack. And that woke something up for me.
Therefore I can't ignore that. I have actually got to go dig deeper. teeka tiwari palm beach." Therefore I started traveling all around the world. I began going to Bitcoin occasions; I began to talking with individuals that were smarter than me in this space. And what I understood is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of having the ability to have information that we do not require to have it independently confirmed, it's cryptographically validated. That idea can ripple out throughout the entire greater economy. And when that penny dropped, I knew I needed to dedicate all my expert resources into becoming an expert in this area.
And do you believe, I indicate you discussed something there about not having 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 great deal of folks may not even completely comprehend recognition process [inaudible 00:04:11].
We were just speaking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other people getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the average folks do not possibly learn about these procedures, so they don't maybe see what you're stating as this advancement, they don't see it in their daily life? Or what do you believe about that? I think that's real.
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 have actually got to go to an exchange, you've got to upload your identity documents, then you've got to wait to get validated, and then finally, you can go buy some Bitcoin.
So, a great deal of people discover that too troublesome, 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 maybe the 20 minutes required to go through a process which just takes 5 minutes if you desire to establish a brokerage account - teeka tiwari twitter.
"Oh Teeka, we like your ideas, but gosh, establishing 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 actually truly earning money a huge amount of money to go through possibly, you know, 20 minutes of a nuisance (undefined). teeka tiwari twitter.
So you can't buy Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software. And can you imagine what will occur to this whole market when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Right now you pointed out the procedure that individuals go through, and something I wish to bring to light too that you didn't mention, but I know a great deal of folks who deal with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can just buy $500 a week.
As tough as possible, right, like Coinbase. It 'd take me permanently before I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari glenn beck). I indicate, it's if you keep in mind the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I indicate it would take 20 minutes to fill 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 just 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 a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to talk with individuals who are, especially someone like yourself, who's devoted the last, you understand, the lion's share of the last few years to actually go both feet in on this - teeka tiwari wikipedia. How do you explain cryptocurrency to like an average person? That's a great question.
They're two completely 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. And so what provides it value is that it is, there's only going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals continuously attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with existing technology, 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 literally own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't rely on paper cash, you can print an unlimited 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, right [crosstalk 00:10:16], proceed.
Yeah (glenn beck teeka tiwari). Or people that remained in Cypress, or simply people who have actually suffered through either run-away inflation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, due to the fact that they already don't think in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a bumpy ride getting their head around. teeka tiwari picks. They resemble, "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. However there are billions of people worldwide that don't have steady currencies.
Yeah. And so there's this whole blossoming global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - glenn beck teeka tiwari. And utility coins are essentially used, let's state Ethereum, which a lot of people learn about Ethereum. Ethereum is essentially a worldwide computer that you can write computer system programs for and run computer system programs on a worldwide decentralized computer program.
So we consider something like Ether an energy token, since you're basically buying shows power. So I wouldn't really think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari review. And there are other ones out there, to give individuals a concept, like a very simple one that I would picture you 'd called an utility token, resembles FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this exact same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on many various areas and. I don't know the ins and outs of it, however as an example for somebody who may simply be really standard in their understanding of this, there are numerous different kinds of energies that are available.
And you type of pointed out having this boots on the ground experience. Now, because we're taking a look at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, but I believe the real opportunity lies in the energy coin space.
There's all of these ICOs that were taking place, those slowed down a little bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and start to create energy coins- Correct, yeah. And people need to comprehend that not all utility coins are developed equal - teeka tiwari twitter.
So you have the benefit of dedicating your profession to this, so you can go out there and do the recon, you can meet the founders, you can check the code, etc. However for a typical person, there's now what, over 1,000 various types of coins available, almost 1,200 I believe. 'Cause normally it'll crash 80% approximately. And that's when we truly start 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 fixing an issue that needs to be solved? Among the big disadvantages with very smart, technical individuals, is that they like to resolve issues that nobody appreciates solving. teeka tiwari twitter.
Does the group have experience of carrying out in a successful manner in another area of their life? And it does not even have 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 track record of success in something, right? If it's 4 men in a space that are just out of college, unless they've got some actually good consultants behind them, I'm most likely not going to give them any cash - glenn beck teeka tiwari.
Yeah. I believe that in marketing in basic, my world of business, we continuously try to find issues and how we can resolve them. Now, are the issues things that people are attempting to solve a part of the Blockchain generally? Or would you state 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 generally looking for solutions that, so I'll offer you an example - teeka tiwari picks. undefined.
And the reason that we bought it is because they found a method to make files tamper-proof, and it's 99% more affordable than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that started it has a track record of creating computer programs that entire states run their whole operations on, right? So you have actually got alright, the clever person has developed huge computer system programs, terrific group, resolving an enormous problem that is going to cut huge expenses.
I indicate, it does not get any simpler than that in terms of choosing who to put cash behind. And a lot of this is typical sense, and a lot of folks will attempt to make things more complicated than it is. And I have an actually simple rule, Ryan. If I do not understand something, I put up my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).