But frauds and little scams. And there's one thing that a fraud constantly does: it constantly goes to zero - teeka tiwari. 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. Which woke something up for me.
And so I can't disregard that. I've got to go dig deeper. teeka tiwari wikipedia." And so I began traveling all around the world. I started going to Bitcoin events; I started to speaking to people that were smarter than me in this area. And what I realized is that Blockchain technology and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of having the ability to have data that we don't require to have it independently validated, it's cryptographically validated. That principle can ripple out throughout the entire higher economy. And when that penny dropped, I understood I needed to dedicate all my expert resources into ending up being a specialist in this area.
And do you believe, I indicate you mentioned 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 lot of folks may not even fully understand validation process [inaudible 00:04:11].
We were just speaking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then all of an abrupt there's other individuals getting informed about it, like the Internal Revenue Service 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 saying as this advancement, they do not see it in their everyday life? Or what do you think 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 pressing a buy button and buying it, right? You have actually got to go to an exchange, you have actually got to publish your identity files, then you have actually got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a lot of people find that too inconvenient, which's why individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that are prepared to put in perhaps the 20 minutes needed to go through a procedure which simply takes five minutes if you want to establish a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we like your concepts, however gosh, setting up a crypto account is so challenging." 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 larger. So you're actually really earning money a huge quantity of cash to go through possibly, you understand, 20 minutes of a nuisance (undefined). teeka tiwari 5 coins.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, before you'll be able to buy cryptocurrencies directly through your trading software application. And can you envision what will occur to this entire marketplace when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Right now you pointed out the procedure that people go through, and one thing I wish to expose too that you didn't mention, however I understand a lot of folks who have problem with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, right, like Coinbase. It 'd take me permanently prior to I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari palm beach). I mean, 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 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 remain in the early days of that technology, however similar to throughout that period of time, for the folks that had the vision to see where the future was going, and after that bought in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm always curious to talk with individuals who are, particularly someone like yourself, who's devoted the last, you know, the bulk of the last couple of years to really go both feet in on this - teeka tiwari picks. How do you describe cryptocurrency to like a typical individual? That's a fantastic question.
They're two absolutely different things, however 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 minimal amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people continuously try to hack it. However since of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so huge today, 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 due to the fact that they're saying, "We do not trust paper money, you can print a limitless amount of it. It's really not protect, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari review). Or individuals that remained in Cypress, or just individuals who have suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a catalyst for more adoption, due to the fact that they currently do not think in their own currency? Yeah, and I believe we have actually already 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. glenn beck teeka tiwari. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin. However there are billions of people worldwide that don't have steady currencies.
Yeah. And so there's this entire blossoming international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari picks. And utility coins are basically used, let's state Ethereum, which a lot of people know about Ethereum. Ethereum is basically an international computer that you can write computer system programs for and run computer programs on an internationally decentralized computer program.
So we consider something like Ether an utility token, since you're essentially purchasing programs power. So I would not really think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to offer people a concept, like a very basic one that I would envision you 'd called an utility token, resembles FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's sort of this exact same type of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on so numerous different locations and. I don't know the ins and outs of it, however as an example for somebody who might just be extremely standard in their understanding of this, there are so numerous different types of energies that are available.
And you sort of discussed having this boots on the ground experience. Now, considering that we're looking at the bulk of these are most likely energy based, remedy? Mm-hmm (affirmative). The majority of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine opportunity lies in the energy coin space.
There's all of these ICOs that were taking place, those decreased a bit with some changes to a few things that was going on, however individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people need to understand that not all energy coins are created equivalent - teeka tiwari review.
So you have the benefit of dedicating your profession to this, so you can go out there and do the reconnaissance, you can meet the founders, you can check the code, etc. However for a typical person, there's now what, over 1,000 various kinds of coins available, nearly 1,200 I think. 'Cause usually it'll crash 80% approximately. And that's when we really begin looking at the concept in more information. So here are some quick and dirty things that you should take a look at, right? So, one is, are they fixing an issue that requires to be solved? Among the huge drawbacks with extremely wise, technical individuals, is that they like to fix problems that nobody appreciates solving. teeka tiwari reviews.
Does the group have experience of performing in an effective way in another location of their life? And it doesn't even have to be straight related to cryptocurrency, it does not need 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 people in a space that are just out of college, unless they have actually got some really great consultants behind them, I'm most likely not going to give them any money - teeka tiwari net worth.
Yeah. I think that in marketing in general, my world of business, we constantly look for issues and how we can resolve them. Now, are the problems things that people are trying to resolve a part of the Blockchain typically? Or would you state it's much better if they're resolving 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 essentially trying to find options that, so I'll provide you an example - teeka tiwari. undefined.
And the factor that we bought it is due to the fact that they found a method to make files tamper-proof, and it's 99% less expensive than current technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that started it has a track record of developing computer system programs that whole states run their whole operations on, right? So you've got fine, the clever person has developed big computer programs, great team, solving a massive issue that is going to cut big costs.
I imply, it does not get any easier than that in terms of 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 just said." Mm-hmm (affirmative).