But frauds and small scams. And there's something that a scams always 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 enormous hack. Which woke something up for me.
Therefore I can't neglect that. I have actually got to go dig deeper. teeka tiwari glenn beck." Therefore I began traveling all around the world. I started going to Bitcoin occasions; I began to talking 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.
And that, Ryan, is, I can't overemphasize how enormous that is! The ramifications of that, of being able to have information that we do not require to have it independently confirmed, it's cryptographically validated. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I understood I had to devote all my expert resources into becoming an expert in this space.
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 reason that this isn't getting as much mass adoption is that a lot of folks might not even fully understand validation procedure [inaudible 00:04:11].
We were simply talking about how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and then all of an abrupt 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 maybe understand about these procedures, so they do not maybe see what you're stating as this advancement, they do not see it in their daily life? Or what do you consider that? I believe that's real.
It's not as simple as shooting up a web internet browser and going to e-trade. com and pressing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to submit your identity files, then you have actually got to wait to get validated, and after that finally, you can go buy some Bitcoin.
So, a lot of individuals find that too inconvenient, which's why individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes needed to go through a procedure which simply takes 5 minutes if you want to establish a brokerage account - teeka tiwari net worth.
"Oh Teeka, we love your concepts, but gosh, setting up a crypto account is so hard." What I inform them is I say, "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 actually really earning money a huge amount of money to go through maybe, you know, 20 minutes of a pain in the neck (undefined). teeka tiwari.
So you can't purchase Bitcoin yet through their trading platform, however it is just a question of time, Ryan, prior to you'll be able to buy cryptocurrencies straight through your trading software. And can you picture what will take place 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.
Today you discussed the procedure that people go through, and something I desire to expose too that you didn't point out, but I understand a lot of folks who battle 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 difficult as possible, right, like Coinbase. It 'd take me permanently before I could begin purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari wikipedia). I indicate, 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 indicate it would take 20 minutes to load 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 technology, 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 an action back for a second, due to the fact that I'm constantly curious to talk with individuals who are, particularly somebody like yourself, who's devoted the last, you understand, the better part of the last few years to truly go both feet in on this - teeka tiwari reviews. How do you explain cryptocurrency to like an average person? That's a fantastic question.
They're 2 absolutely various things, however 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. And so what gives it value is that it is, there's only going to be a minimal amount. There'll never ever 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 try to hack it. But 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).
And so when people put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not rely on fiat money, you can print a limitless quantity of it. It's actually not protect, 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 reviews). Or people that remained in Cypress, or simply people 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 nations that could potentially be a catalyst for more adoption, because they already do not 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 difficult time getting their head around. teeka tiwari glenn beck. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. However there are billions of people on the planet that do not have steady currencies.
Yeah. Therefore there's this whole growing global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari wikipedia. And utility coins are generally used, let's say Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is essentially a worldwide computer that you can write computer system programs for and run computer programs on a globally decentralized computer system program.
So we consider something like Ether an energy token, due to the fact that you're essentially purchasing programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. glenn beck teeka tiwari. And there are other ones out there, to provide people an idea, like a really easy one that I would imagine 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 sort of this same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on a lot of various areas and. I don't understand the ins and outs of it, but as an example for someone who may simply be very basic in their understanding of this, there are many different types of energies that are readily available.
And you sort of pointed out having this boots on the ground experience. Now, given that 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 advise and look at are utility-based. We have a few cryptocurrencies, however I believe the genuine chance depends on the utility coin space.
There's all of these ICOs that were happening, those slowed down a bit with some modifications to a few things that was going on, however individuals are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And individuals need to comprehend that not all utility coins are developed equivalent - teeka tiwari.
So you have the advantage of devoting your occupation to this, so you can head out there and do the reconnaissance, you can meet the founders, you can inspect the code, etc. But for a typical individual, there's now what, over 1,000 different kinds of coins available, almost 1,200 I think. 'Cause usually it'll crash 80% or two. And that's when we truly start taking a look at the concept in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they solving an issue that requires to be solved? Among the huge drawbacks with very wise, technical individuals, is that they like to fix issues that nobody cares about fixing. teeka tiwari reviews.
Does the group have experience of executing in a successful way in another location of their life? And it doesn't even need to be directly related to cryptocurrency, it does not have to be even straight associated 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 space that are simply out of college, unless they have actually got some really good advisors behind them, I'm probably not going to provide any cash - teeka tiwari twitter.
Yeah. I think that in marketing in general, my world of business, we constantly try to find problems and how we can fix them. Now, are the issues things that individuals are trying to fix a part of the Blockchain usually? Or would you state it's better if they're solving kind 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 provide you an example - teeka tiwari review. undefined.
And the factor that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% cheaper than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that started it has a performance history of producing computer system programs that whole states run their whole operations on, right? So you have actually got alright, the clever guy has developed big computer system programs, fantastic group, resolving an enormous problem that is going to cut substantial costs.
I mean, it does not get any simpler than that in regards to choosing who to put cash behind. And a great deal of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have an actually easy guideline, Ryan. If I do not comprehend something, I set up my hand, and I state, "I didn't comprehend what you simply said." Mm-hmm (affirmative).