However scams and small frauds. And there's one thing that a scams always does: it always goes to absolutely no - teeka tiwari twitter. 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 enormous hack. And that woke something up for me.
Therefore I can't disregard that. I have actually got to go dig much deeper. teeka tiwari twitter." And so I began traveling all around the world. I started going to Bitcoin events; I started to speaking with individuals that were smarter than me in this area. And what I recognized is that Blockchain technology 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 being able to have information that we do not require to have it individually verified, it's cryptographically verified. That idea can ripple out throughout the entire greater economy. And when that penny dropped, I understood I had to commit all my professional resources into ending up being an expert in this space.
And do you believe, I imply 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 reason that this isn't getting as much mass adoption is that a lot of folks might not even fully comprehend validation process [inaudible 00:04:11].
We were simply speaking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the average folks do not maybe learn about these processes, so they do not perhaps see what you're stating as this breakthrough, they do not see it in their daily life? Or what do you believe about that? I think that holds true.
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've got to wait to get verified, and then finally, you can go buy some Bitcoin.
So, a lot of individuals discover that too bothersome, which's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes required to go through a procedure which just takes 5 minutes if you wish to establish a brokerage account - teeka tiwari review.
"Oh Teeka, we like your ideas, but gosh, setting up a crypto account is so tough." 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 in fact truly making money a massive amount of cash to go through maybe, you know, 20 minutes of a discomfort in the neck (undefined). teeka tiwari review.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern 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 purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Today you pointed out the process that people go through, and one thing I wish to bring to light too that you didn't discuss, but I understand a great deal of folks who fight with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can just buy $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently before I could begin buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari twitter). I imply, it's if you keep in mind the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I suggest 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 imply, we remain in the early days of that innovation, but simply like throughout 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm constantly curious to talk to people who are, particularly somebody like yourself, who's dedicated the last, you understand, the much better part of the last couple of years to actually go both feet in on this - teeka tiwari net worth. How do you describe cryptocurrency to like a typical individual? That's an excellent concern.
They're 2 absolutely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what offers it worth is that it is, there's only going to be a restricted amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people constantly try to hack it. But since of the nature of the network, today it's been unhackable. And truly, with present technology, 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 people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We do not trust paper money, you can print a limitless quantity 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], go on.
Yeah (glenn beck teeka tiwari). Or individuals that were in Cypress, or just people who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could possibly be a catalyst for more adoption, since they already don't believe 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 investors have a hard time getting their head around. teeka tiwari next bitcoin. They're like, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin. But there are billions of people on the planet that do not have steady currencies.
Yeah. And so there's this whole blossoming international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari next bitcoin. And utility coins are generally utilized, let's say Ethereum, which a great deal of individuals know about Ethereum. Ethereum is essentially a global computer system that you can write computer system programs for and run computer system programs on an internationally decentralized computer system program.
So we consider something like Ether an utility token, because you're basically buying shows power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. glenn beck teeka tiwari. And there are other ones out there, to offer people a concept, like a really basic one that I would picture you 'd called an utility token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's type of this very same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, due to the fact that it's on numerous various areas and. I don't understand the ins and outs of it, but as an example for someone who may simply be very standard in their understanding of this, there are a lot of various kinds of energies that are offered.
And you sort of discussed 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). Most 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 depends on the utility coin area.
There's all of these ICOs that were taking place, those decreased a little bit with some changes to a few things that was going on, but individuals are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And people need to comprehend that not all utility coins are produced equal - teeka tiwari twitter.
So you have the benefit of devoting your profession to this, so you can go out there and do the recon, you can meet the founders, you can examine the code, and so on. But for a typical person, there's now what, over 1,000 different types of coins available, practically 1,200 I believe. 'Cause typically it'll crash 80% approximately. And that's when we truly begin taking a look at the idea in more information. So here are some quick and filthy things that you should take a look at, right? So, one is, are they solving a problem that needs to be fixed? Among the big downsides with very smart, technical individuals, is that they like to solve problems that no one cares about resolving. teeka tiwari review.
Does the team have experience of executing in a successful way in another area of their life? And it doesn't even need to be directly associated to cryptocurrency, it doesn't need to be even straight related to software application, right? So, but I desire to see a track record of success in something, right? If it's 4 people in a room that are just out of college, unless they've got some truly good consultants behind them, I'm most likely not going to give them any cash - teeka tiwari reviews.
Yeah. I think that in marketing in basic, 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 resolve a part of the Blockchain generally? Or would you say it's much better if they're solving sort 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 basically trying to find solutions that, so I'll give you an example - glenn beck teeka tiwari. 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% less expensive than current technology, 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 track record of producing computer system programs that whole states run their whole operations on, right? So you have actually got all right, the smart guy has actually developed substantial computer system programs, terrific team, resolving an enormous problem that is going to cut big expenses.
I suggest, it doesn't get any simpler than that in terms of choosing who to put cash behind. And a lot of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have a really simple rule, Ryan. If I don't comprehend something, I put up my hand, and I state, "I didn't comprehend what you just said." Mm-hmm (affirmative).