However frauds and little scams. And there's one thing that a scams always does: it constantly goes to no - teeka tiwari net worth. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. And that woke something up for me.
Therefore I can't neglect that. I have actually got to go dig much deeper. teeka tiwari review." And so I began traveling all around the world. I began going to Bitcoin occasions; I started to speaking to people that were smarter than me in this area. And what I understood is that Blockchain technology and the application of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how enormous that is! The ramifications of that, of being able to have data that we do not require to have it separately validated, it's cryptographically validated. That idea can ripple out throughout the entire higher economy. And when that penny dropped, I understood I had to dedicate all my expert resources into ending up being a professional in this area.
And do you think, I indicate you mentioned something there about not having 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 great deal of folks may not even fully comprehend validation procedure [inaudible 00:04:11].
We were just speaking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and after that all of an abrupt there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not maybe learn about these procedures, so they do not perhaps see what you're saying as this advancement, they do not see it in their daily life? Or what do you consider that? I think that holds true.
It's not as simple as shooting up a web browser and going to e-trade. com and pushing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to publish your identity files, then you've got to wait to get confirmed, and then lastly, you can go purchase some Bitcoin.
So, a great deal of individuals discover that too bothersome, which's why individuals that are literally making the most amount of money right now in cryptocurrencies are the early adopters: people that are willing 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 5 coins.
"Oh Teeka, we like your ideas, but gosh, establishing a crypto account is so challenging." 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 whole cryptocurrency market will be 10x bigger. So you're in fact really earning money a massive quantity of cash to go through possibly, 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 simply a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies directly through your trading software application. And can you imagine what will occur to this whole market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari review - undefined.
Today you mentioned 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 fight with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just buy $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me forever before I could begin buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari palm beach). I imply, 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 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 simply 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 absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm always curious to talk with people who are, particularly somebody like yourself, who's devoted the last, you understand, the better part of the last couple of years to actually go both feet in on this - teeka tiwari picks. How do you describe cryptocurrency to like a typical individual? That's an excellent concern.
They're two totally various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. And so what gives it value is that it is, there's just going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, people continuously try to hack it. But since of the nature of the network, today it's been unhackable. And truly, with existing innovation, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not rely on paper currency, you can print an unrestricted quantity of it. It's actually not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (teeka tiwari 5 coins). Or individuals that remained in Cypress, or just individuals who have actually suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a catalyst for more adoption, since they currently don't believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a hard time getting their head around. teeka tiwari reviews. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin. But there are billions of individuals on the planet that do not have steady currencies.
Yeah. Therefore there's this entire blossoming international need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari glenn beck. And energy coins are basically used, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically an international computer that you can write computer system programs for and run computer programs on a worldwide decentralized computer system program.
So we think about something like Ether an energy token, due to the fact that you're essentially purchasing programs 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 individuals an idea, like a very simple one that I would picture you 'd called an energy token, resembles FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's kind of this same kind of network result that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on so lots of different locations and. I don't know the ins and outs of it, but as an example for someone who may just be extremely fundamental in their understanding of this, there are so lots of different kinds of utilities that are offered.
And you kind of pointed out having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably energy based, correct? Mm-hmm (affirmative). Many of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, however I think the real opportunity lies in the utility coin area.
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, but people are going to come out of the woodwork and start to develop energy coins- Correct, yeah. And people require to understand that not all utility coins are developed equal - teeka tiwari reviews.
So you have the benefit of committing your profession to this, so you can head out there and do the recon, you can satisfy the creators, you can inspect the code, etc. However for an average individual, there's now what, over 1,000 various kinds of coins available, practically 1,200 I believe. 'Cause usually it'll crash 80% approximately. And that's when we actually begin taking a look at the concept in more information. So here are some fast and dirty things that you should take a look at, right? So, one is, are they fixing an issue that needs to be fixed? Among the huge downsides with extremely wise, technical people, is that they like to resolve issues that nobody appreciates solving. teeka tiwari wikipedia.
Does the team have experience of executing in a successful manner in another location of their life? And it does not even have to be straight related to cryptocurrency, it doesn't have to be even directly associated to software application, 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 provide them any money - teeka tiwari palm beach.
Yeah. I believe that in marketing in basic, my world of service, we constantly look for issues and how we can resolve them. Now, are the problems things that people are trying to solve a part of the Blockchain typically? Or would you state it's much better if they're fixing kind 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 trying to find solutions that, so I'll give you an example - teeka tiwari twitter. undefined.
And the reason that we purchased it is due to the fact that they found a method to make files tamper-proof, and it's 99% more affordable than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a track record of creating computer programs that whole states run their whole operations on, right? So you've got fine, the wise guy has developed substantial computer system programs, fantastic group, fixing an enormous issue that is going to cut huge costs.
I suggest, it doesn't get any easier than that in terms of deciding who to put cash behind. And a great deal of this is common sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually easy rule, Ryan. If I do not comprehend something, I set up my hand, and I state, "I didn't understand what you simply said." Mm-hmm (affirmative).