But frauds and small scams. And there's one thing that a fraud always does: it always goes to no - teeka tiwari next bitcoin. 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.
And so I can't disregard that. I have actually got to go dig much deeper. teeka tiwari next bitcoin." Therefore I started taking a trip all around the world. I started going to Bitcoin events; I started to speaking with people that were smarter than me in this area. And what I recognized is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how massive that is! The ramifications of that, of being able to have data that we don't need to have it separately validated, it's cryptographically confirmed. That concept can ripple out throughout the entire greater economy. And when that cent dropped, I knew I needed to dedicate all my expert resources into ending up being a specialist in this space.
And do you think, I mean you discussed 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 great deal of folks might not even completely comprehend recognition 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 suddenly there's other people getting informed about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks do not maybe understand about these processes, so they don't possibly see what you're stating as this development, they don't see it in their daily life? Or what do you consider that? I believe that's 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 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 verified, 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 right now in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes needed to go through a process which just takes 5 minutes if you want to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so tough." 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 bigger. So you're actually really making money a huge quantity of cash to go through perhaps, you understand, 20 minutes of a pain in the neck (undefined). teeka tiwari next bitcoin.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies directly through your trading software. And can you imagine what will take place to this whole marketplace when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari reviews - undefined.
Right now you discussed the process that individuals go through, and one thing I want to bring to light too that you didn't discuss, but I understand a great deal of folks who deal with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can only buy $500 a week.
As difficult as possible, ideal, like Coinbase. It 'd take me permanently before I might start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari). I mean, it's if you keep in mind the early days of the Internet, when we were getting on the Internet, we were doing it with 56k modems, right? I mean 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're in the early days of that innovation, but much like throughout that amount of time, for the folks that had the vision to see where the future was going, and then bought in on some 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 always curious to talk to individuals who are, especially someone like yourself, who's devoted the last, you know, the bulk of the last couple of years to truly go both feet in on this - teeka tiwari glenn beck. How do you describe cryptocurrency to like an average person? That's an excellent concern.
They're two totally different things, but 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. And so what offers it value is that it is, there's just going to be a restricted quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals constantly try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And really, with current technology, 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've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not trust paper cash, you can print a limitless amount of it. It's actually not protect, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (teeka tiwari picks). Or individuals that remained 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, due to the fact that they already don't believe in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a difficult time getting their head around. glenn beck teeka tiwari. They resemble, "Well I do not need 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 on the planet that don't have stable currencies.
Yeah. And so there's this whole growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari. And energy coins are basically used, let's say Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically a worldwide computer system that you can write computer system programs for and run computer system programs on a globally decentralized computer program.
So we consider something like Ether an energy token, because you're essentially purchasing shows power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari picks. And there are other ones out there, to offer people an idea, like a really easy one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's sort of this exact same type of network result that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on numerous different locations and. I do not understand the ins and outs of it, however as an example for someone who may simply be extremely basic in their understanding of this, there are many different types of energies that are offered.
And you type of discussed having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility 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 genuine opportunity lies in the energy coin space.
There's all of these ICOs that were occurring, those slowed down a little bit with some changes to a couple of 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 comprehend that not all utility coins are produced equivalent - teeka tiwari picks.
So you have the benefit of devoting your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the founders, you can examine the code, and so on. But for a typical individual, there's now what, over 1,000 different types of coins offered, practically 1,200 I believe. 'Cause usually it'll crash 80% approximately. Which's when we truly start taking a look at the idea in more detail. So here are some quick and unclean things that you should take a look at, right? So, one is, are they resolving an issue that requires to be solved? Among the big drawbacks with very wise, technical individuals, is that they like to solve issues that no one appreciates solving. teeka tiwari review.
Does the team have experience of carrying out in an effective way in another area of their life? And it does not even need to be directly related to cryptocurrency, it doesn't have to be even straight associated to software, right? So, however I want to see a track record of success in something, right? If it's four guys in a space that are simply out of college, unless they've got some actually good consultants behind them, I'm most likely not going to give them any money - teeka tiwari palm beach.
Yeah. I believe that in marketing in basic, my world of service, we continuously look for problems and how we can fix them. Now, are the problems things that individuals are trying to solve a part of the Blockchain generally? Or would you say 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 generally looking for options that, so I'll provide you an example - teeka tiwari review. undefined.
And the reason that we purchased it is due to the fact that they found a way to make files tamper-proof, and it's 99% cheaper than existing innovation, 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 track record of creating computer programs that entire states run their entire operations on, right? So you've got fine, the clever guy has actually built substantial computer system programs, excellent team, solving an enormous problem that is going to cut huge costs.
I indicate, it doesn't get any easier than that in regards to 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 truly simple guideline, Ryan. If I don't comprehend something, I installed my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).