However frauds and little frauds. And there's one thing that a fraud constantly does: it constantly goes to no - 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.
Therefore I can't neglect that. I've got to go dig deeper. teeka tiwari palm beach." And so I began traveling all around the world. I began going to Bitcoin events; I began to speaking with individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation 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 being able to have information that we do not need to have it independently validated, it's cryptographically confirmed. That idea can ripple out throughout the whole higher economy. And when that cent dropped, I understood I needed to commit all my professional resources into becoming an expert in this area.
And do you think, I indicate you discussed something there about not needing 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 lot of folks may not even completely understand validation procedure [inaudible 00:04:11].
We were simply discussing how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that all of an unexpected there's other people getting alerted about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not perhaps know about these procedures, 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 think of that? I think that's real.
It's not as simple as firing up a web browser and going to e-trade. com and pushing a buy button and purchasing it, right? You have actually got to go to an exchange, you've got to publish your identity files, then you've got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a great deal of individuals discover that too inconvenient, and that's why individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes needed to go through a procedure which just takes five minutes if you want to establish a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so hard." What I inform them is I state, "Look, when it's easy as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The whole cryptocurrency market will be 10x larger. So you're in fact really earning money a massive amount of cash to go through maybe, you know, 20 minutes of a nuisance (undefined). teeka tiwari next bitcoin.
So you can't buy Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, prior to you'll be able to purchase cryptocurrencies straight through your trading software application. And can you picture what will occur to this whole market when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - glenn beck teeka tiwari - undefined.
Right now you mentioned the process that individuals go through, and one thing I wish to expose too that you didn't discuss, however I understand a great deal of folks who fight with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only purchase $500 a week.
As tough as possible, right, like Coinbase. It 'd take me permanently before I might begin purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari palm beach). I indicate, it's if you remember 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 fill 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 remain in the early days of that innovation, but much like during that time period, for the folks that had the vision to see where the future was going, and after that bought in on a few of these young business, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm constantly curious to speak with individuals who are, particularly somebody like yourself, who's devoted the last, you know, the better part of the last couple of years to actually go both feet in on this - teeka tiwari review. How do you describe cryptocurrency to like an average individual? That's a great question.
They're 2 totally different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what offers it value is that it is, there's only going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. And so if you look at that Bitcoin network, people continuously attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with current technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so when people put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't trust paper currency, you can print an endless quantity of it. It's truly not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari reviews). Or people that remained in Cypress, or simply individuals who have actually suffered through either run-away inflation, 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 driver for more adoption, since they already don't think in their own currency? Yeah, and I believe we have actually currently 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 twitter. 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. And so there's this entire burgeoning global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari twitter. And energy coins are essentially used, let's state Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically a global computer that you can compose computer system programs for and run computer programs on a globally decentralized computer program.
So we think about something like Ether an energy token, due to the fact that you're basically buying programming power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari glenn beck. And there are other ones out there, to provide people an idea, like a very easy one that I would envision you 'd called an utility token, resembles FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's sort of this exact same type of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on a lot of different locations and. I don't understand the ins and outs of it, however as an example for somebody who may just be very fundamental in their understanding of this, there are a lot of various types of utilities that are readily available.
And you sort of discussed having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely utility based, fix? 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, but I think the genuine opportunity lies in the utility coin space.
There's all of these ICOs that were occurring, those decreased a bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and begin to produce energy coins- Correct, yeah. And individuals require to comprehend that not all utility coins are produced equal - glenn beck teeka tiwari.
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. However for a typical person, there's now what, over 1,000 different kinds of coins available, practically 1,200 I think. 'Cause generally it'll crash 80% or two. Which's when we actually 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 solving a problem that needs to be solved? One of the huge downsides with very clever, technical individuals, is that they like to solve issues that no one appreciates solving. teeka tiwari wikipedia.
Does the team have experience of performing in an effective manner in another area of their life? And it doesn't even need to be directly associated to cryptocurrency, it does not have to be even directly related to software, right? So, but I desire to see a performance history of success in something, right? If it's 4 people in a room that are simply out of college, unless they've got some really great consultants behind them, I'm probably not going to give them any cash - teeka tiwari palm beach.
Yeah. I think that in marketing in general, my world of business, we continuously look for problems and how we can fix them. Now, are the issues things that people are trying to resolve a part of the Blockchain usually? Or would you say it's much better if they're fixing 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 generally trying to find services that, so I'll provide you an example - teeka tiwari twitter. undefined.
And the factor that we bought it is because 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 guy that started it has a track record of producing computer system programs that entire states run their whole operations on, right? So you have actually got fine, the wise man has actually constructed huge computer system programs, terrific team, fixing a massive problem that is going to cut substantial costs.
I suggest, it does not get any easier than that in regards to deciding who to put cash behind. And a great deal of this is common 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 comprehend something, I set up my hand, and I say, "I didn't comprehend what you just said." Mm-hmm (affirmative).