However scams and small scams. And there's one thing that a scams constantly does: it constantly goes to zero - teeka tiwari picks. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The enormous hack. And that woke something up for me.
And so I can't disregard that. I've got to go dig much deeper. teeka tiwari review." And so I began traveling all around the world. I began going to Bitcoin occasions; I started to speaking to individuals that were smarter than me in this area. And what I understood is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of having the ability to have information that we don't need to have it individually confirmed, it's cryptographically confirmed. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I knew I needed to devote all my expert resources into becoming a specialist in this space.
And do you think, I mean you pointed out something there about not having to get a third-party, or intermediary to confirm 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 might not even fully comprehend recognition process [inaudible 00:04:11].
We were simply speaking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the average folks don't possibly learn about these processes, so they do not perhaps see what you're stating as this development, they don't see it in their everyday life? Or what do you believe about that? I think that holds true.
It's not as simple 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 have actually got to upload your identity documents, then you've got to wait to get verified, and after that lastly, you can go buy some Bitcoin.
So, a lot of people find that too bothersome, which's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes needed to go through a process which simply takes 5 minutes if you desire to set up a brokerage account - teeka tiwari net worth.
"Oh Teeka, we like your concepts, but gosh, establishing a crypto account is so tough." What I inform them is I state, "Look, when it's simple 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 in fact really earning money an enormous amount of money to go through maybe, you know, 20 minutes of a nuisance (undefined). teeka tiwari review.
So you can't buy Bitcoin yet through their trading platform, but it is just a question of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software application. And can you picture what will happen to this entire market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari twitter - undefined.
Right now you mentioned the procedure that people go through, and something I wish to bring to light too that you didn't discuss, however I know a lot of folks who have problem with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As hard as possible, right, like Coinbase. It 'd take me forever prior to I might begin buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari twitter). 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 innovation, however much like throughout that time period, for the folks that had the vision to see where the future was going, and then purchased in on a few of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, due to the fact that I'm constantly curious to talk to people who are, especially somebody like yourself, who's devoted the last, you know, the lion's share of the last couple of years to truly go both feet in on this - teeka tiwari review. How do you describe cryptocurrency to like an average person? That's a fantastic question.
They're 2 completely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what gives it value is that it is, there's only going to be a restricted amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously attempt to hack it. However since of the nature of the network, today it's been unhackable. And really, with present innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
Therefore when people put, you have actually 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 currency, you can print an unlimited quantity of it. It's truly not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari net worth). Or individuals that were in Cypress, or just individuals who have actually suffered through either hyperinflation, 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 potentially be a driver for more adoption, due to the fact that 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 tough time getting their head around. teeka tiwari twitter. They're like, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin. But there are billions of individuals worldwide that don't have stable currencies.
Yeah. Therefore there's this entire burgeoning worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari. And energy coins are basically utilized, let's say Ethereum, which a lot of people understand about Ethereum. Ethereum is basically an international computer system that you can write computer programs for and run computer system programs on an internationally decentralized computer program.
So we think about something like Ether an energy token, because you're basically purchasing shows power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari reviews. And there are other ones out there, to give individuals an idea, like a really basic one that I would imagine you 'd called an energy token, is like FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's type of this same type of network impact that you have with Bitcoin, where it's like unstoppable example, since it's on so lots of different areas and. I do not know the ins and outs of it, but as an example for somebody who might simply be really standard in their understanding of this, there are numerous different types of utilities that are readily available.
And you kind of pointed out having this boots on the ground experience. Now, considering that we're looking at the bulk of these are probably energy based, remedy? Mm-hmm (affirmative). Most of the coins that I recommend and look at are utility-based. We have a couple of cryptocurrencies, however I think the real chance lies in the energy coin space.
There's all of these ICOs that were taking place, those decreased a bit with some modifications to a couple of things that was going on, but people are going to come out of the woodwork and start to produce energy coins- Correct, yeah. And people require to understand that not all energy coins are created equivalent - teeka tiwari review.
So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can meet the founders, you can inspect the code, etc. However for a typical person, there's now what, over 1,000 various kinds of coins readily available, almost 1,200 I think. 'Cause typically it'll crash 80% or two. And that's when we really begin taking a look at the idea in more detail. So here are some fast and dirty things that you should look at, right? So, one is, are they fixing a problem that requires to be fixed? One of the huge downsides with extremely clever, technical individuals, is that they like to solve issues that no one cares about solving. teeka tiwari next bitcoin.
Does the team have experience of performing in an effective way in another area of their life? And it does not even have to be directly associated to cryptocurrency, it doesn't need to be even directly related to software application, right? So, however I desire to see a track record of success in something, right? If it's 4 people in a space that are simply out of college, unless they have actually got some actually excellent consultants behind them, I'm most likely not going to provide any cash - teeka tiwari review.
Yeah. I think that in marketing in basic, my world of business, we constantly try to find problems and how we can resolve them. Now, are the issues things that individuals are trying to fix a part of the Blockchain typically? 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 basically looking for services that, so I'll give you an example - glenn beck teeka tiwari. undefined.
And the factor that we purchased it is because they found a method to make files tamper-proof, and it's 99% cheaper than current 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 performance history of creating computer programs that entire states run their whole operations on, right? So you have actually got alright, the clever guy has actually constructed substantial computer system programs, terrific group, resolving an enormous issue that is going to cut huge expenses.
I indicate, it does not get any easier than that in regards to choosing who to put cash behind. And a lot of this is typical sense, and a great deal of folks will attempt to make things more complicated than it is. And I have an actually basic 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).