However scams and little frauds. And there's one thing that a scams always does: it constantly goes to no - teeka tiwari glenn beck. 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.
And so I can't neglect that. I have actually got to go dig much deeper. teeka tiwari next bitcoin." And so I began taking a trip all around the world. I started going to Bitcoin events; I began to speaking to people that were smarter than me in this area. And what I recognized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how massive that is! The implications of that, of being able to have data that we don't require to have it individually confirmed, it's cryptographically verified. That principle can ripple out throughout the whole greater economy. And when that cent dropped, I knew I had to dedicate all my expert resources into becoming a professional in this area.
And do you believe, I suggest you mentioned something there about not having 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 just talking about how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and after that all of a sudden there's other individuals getting notified about it, like the IRS and things like that. Do you think that the typical folks do not perhaps learn about these processes, so they don't perhaps see what you're saying as this advancement, they don't see it in their daily life? Or what do you think of that? I think that holds true.
It's not as simple as shooting up a web browser and going to e-trade. com and pressing a buy button and buying 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 then finally, you can go purchase some Bitcoin.
So, a great deal of people find that too inconvenient, which's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that are ready to put in maybe the 20 minutes needed to go through a process which simply takes five minutes if you desire to set up a brokerage account - teeka tiwari twitter.
"Oh Teeka, we enjoy your concepts, however gosh, setting up a crypto account is so difficult." 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 bigger. So you're in fact truly earning money an enormous quantity of money to go through maybe, you understand, 20 minutes of a headache (undefined). teeka tiwari twitter.
So you can't buy Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you envision what will happen to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari palm beach - undefined.
Right now you pointed out the procedure that individuals go through, and one thing I want to expose too that you didn't point out, 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 challenging as possible, right, like Coinbase. It 'd take me forever before I could begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari twitter). I indicate, it's if you remember the early days of the Internet, 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 technology, however much like throughout that amount of time, 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 an action back for a 2nd, because I'm always curious to speak with people who are, especially someone like yourself, who's committed the last, you understand, the bulk of the last few years to actually go both feet in on this - teeka tiwari net worth. How do you explain cryptocurrency to like an average person? That's a great concern.
They're 2 totally 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 worth is that it is, there's just going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. And so if you look at that Bitcoin network, people constantly attempt to hack it. But since of the nature of the network, today it's been unhackable. And actually, with present innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so when individuals 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 do not rely on paper cash, you can print an unrestricted 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 ahead.
Yeah (teeka tiwari twitter). Or individuals that remained in Cypress, or just people who have actually suffered through either devaluation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, because they currently don't think in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. teeka tiwari glenn beck. They're like, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin. However there are billions of individuals worldwide that do not have stable currencies.
Yeah. And so there's this entire burgeoning worldwide need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari glenn beck. And utility coins are basically utilized, let's say Ethereum, which a lot of individuals understand about Ethereum. Ethereum is essentially an international computer that you can compose computer programs for and run computer programs on an internationally decentralized computer system program.
So we consider something like Ether an utility token, due to the fact that you're basically buying programs power. So I wouldn't really consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to offer individuals a concept, like an extremely simple one that I would imagine you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's sort of this same kind of network result that you have with Bitcoin, where it resembles unstoppable kind of thing, since it's on many different locations and. I do not understand the ins and outs of it, but as an example for someone who might simply be extremely standard in their understanding of this, there are many different types of energies that are offered.
And you kind 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, fix? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, but I believe the real opportunity depends on the energy coin area.
There's all of these ICOs that were occurring, 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 produce utility coins- Correct, yeah. And individuals need to understand that not all energy coins are created equal - teeka tiwari reviews.
So you have the advantage of devoting your occupation to this, so you can head out there and do the recon, you can fulfill the creators, you can inspect the code, and so on. But for an average individual, there's now what, over 1,000 various kinds of coins available, nearly 1,200 I believe. 'Cause typically it'll crash 80% or so. And that's when we really 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 fixing a problem that needs to be resolved? One of the huge downsides with extremely clever, technical people, is that they like to fix problems that no one appreciates solving. teeka tiwari.
Does the group have experience of executing in a successful way in another area of their life? And it does not even need to be directly associated to cryptocurrency, it doesn't have to be even directly related to software application, right? So, however I wish to see a performance history of success in something, right? If it's four people in a space that are simply out of college, unless they have actually got some actually excellent advisors behind them, I'm probably not going to give them any cash - teeka tiwari review.
Yeah. I think that in marketing in general, my world of organization, we constantly search for issues and how we can solve them. Now, are the issues things that people are trying to fix a part of the Blockchain typically? Or would you state it's better if they're fixing sort 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 essentially trying to find options that, so I'll give you an example - teeka tiwari review. undefined.
And the factor that we bought it is since they found a way to make files tamper-proof, and it's 99% cheaper than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a performance history of creating computer system programs that entire states run their whole operations on, right? So you've got okay, the wise person has actually constructed substantial computer system programs, excellent team, solving an enormous issue that is going to cut huge expenses.
I suggest, it doesn't get any easier than that in terms of deciding who to put money behind. And a lot of this is typical sense, and a lot of folks will try to make things more complex than it is. And I have a truly basic rule, Ryan. If I do not understand something, I set up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).