But scams and small frauds. And there's something that a fraud constantly does: it always goes to absolutely no - teeka tiwari. 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.
And so I can't overlook that. I've got to go dig deeper. glenn beck teeka tiwari." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I started to speaking to individuals that were smarter than me in this space. And what I recognized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have information that we do not require to have it individually verified, it's cryptographically validated. That idea can ripple out throughout the whole higher economy. And when that penny dropped, I knew I needed to devote all my expert resources into ending up being an expert in this space.
And do you believe, I imply 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 great deal of folks may not even fully understand 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 all of a sudden there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not maybe understand about these procedures, so they don't maybe 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 easy 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've got to publish your identity documents, then you've got to wait to get validated, and then finally, you can go purchase some Bitcoin.
So, a great deal of individuals find that too bothersome, and that's why the people that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that want to put in maybe the 20 minutes required to go through a process which simply takes 5 minutes if you wish to set up a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we enjoy your ideas, but gosh, establishing a crypto account is so hard." What I tell them is I state, "Look, when it's simple 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 actually truly making money an enormous amount of cash to go through maybe, you understand, 20 minutes of a discomfort in the neck (undefined). teeka tiwari reviews.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software. And can you picture what will occur 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 next bitcoin - undefined.
Today you pointed out the process that individuals go through, and something I want to expose too that you didn't discuss, but I understand a great deal of folks who struggle with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can only purchase $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me permanently prior to I could begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari 5 coins). I indicate, it's if you remember the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I suggest 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 indicate, we're in the early days of that technology, however similar to during that duration of time, for the folks that had the vision to see where the future was going, and after that bought in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, since I'm always curious to talk to people who are, especially somebody like yourself, who's devoted the last, you know, the lion's share of the last few years to really go both feet in on this - glenn beck teeka tiwari. How do you describe cryptocurrency to like a typical individual? That's a great question.
They're two absolutely different things, however 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. And so what offers it worth 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 computers, verifying the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly attempt to hack it. However because of the nature of the network, today it's been unhackable. And really, with existing technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
And so when people put, you've got people 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 money, you can print an unrestricted quantity of it. It's really not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari picks). Or people that were in Cypress, or simply individuals who have actually suffered through either devaluation, or there's a high demand for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, since they already do not believe in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western investors have a bumpy ride getting their head around. teeka tiwari glenn beck. They're like, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin. But there are billions of individuals on the planet that do not have stable currencies.
Yeah. And so there's this entire growing international need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari reviews. And utility coins are generally used, let's say Ethereum, which a lot of people learn about Ethereum. Ethereum is essentially an international computer that you can compose computer programs for and run computer programs on a worldwide decentralized computer program.
So we consider something like Ether an energy token, since you're basically purchasing programs power. So I would not actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to give people a concept, like an extremely easy one that I would picture you 'd called an energy token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's type of this very same type of network result that you have with Bitcoin, where it resembles unstoppable kind of thing, because it's on a lot of various areas and. I don't understand the ins and outs of it, but as an example for somebody who may simply be extremely standard in their understanding of this, there are numerous various kinds of energies that are available.
And you type of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I advise and look at are utility-based. We have a few cryptocurrencies, but I think the real chance depends on the energy coin space.
There's all of these ICOs that were taking place, those decreased a little 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 develop energy coins- Correct, yeah. And people require to comprehend that not all energy coins are created equal - teeka tiwari net worth.
So you have the advantage of devoting your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the creators, you can check the code, and so on. But for an average individual, there's now what, over 1,000 different types of coins readily available, nearly 1,200 I think. 'Cause normally it'll crash 80% approximately. And that's when we really start 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 an issue that needs to be solved? One of the huge downsides with very smart, technical people, is that they like to fix issues that no one cares about solving. teeka tiwari next bitcoin.
Does the group have experience of executing in an effective way in another location of their life? And it does not even have to be straight associated to cryptocurrency, it does not need to be even directly related to software application, right? So, but I wish 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 advisors behind them, I'm probably not going to offer them any cash - teeka tiwari twitter.
Yeah. I believe that in marketing in general, my world of business, we constantly try to find issues and how we can solve them. Now, are the problems things that individuals are attempting to fix a part of the Blockchain typically? Or would you state it's much better if they're fixing 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 options that, so I'll give you an example - teeka tiwari next bitcoin. undefined.
And the reason that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% more affordable 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 performance history of creating computer system programs that whole states run their entire operations on, right? So you've got fine, the smart guy has actually built big computer programs, terrific team, solving a massive issue that is going to cut huge expenses.
I indicate, it doesn't get any easier than that in terms of deciding 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 easy rule, Ryan. If I don't understand something, I put up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).