But frauds and little frauds. And there's something that a scams constantly does: it constantly goes to no - teeka tiwari twitter. 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 huge hack. Which woke something up for me.
Therefore I can't neglect that. I have actually got to go dig much deeper. glenn beck teeka tiwari." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I began to talking with people that were smarter than me in this space. And what I realized 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 data that we don't require to have it independently verified, it's cryptographically validated. That idea can ripple out throughout the entire greater economy. And when that penny dropped, I knew I needed to commit all my expert resources into becoming a professional in this space.
And do you think, I suggest you pointed out something there about not needing to get a third-party, or intermediary to verify 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 totally comprehend validation procedure [inaudible 00:04:11].
We were just speaking 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 alerted about it, like the Internal Revenue Service and things like that. Do you think that the average folks don't maybe understand about these procedures, so they don't possibly see what you're stating as this breakthrough, they do not see it in their daily life? Or what do you consider that? I think that's real.
It's not as simple as shooting up a web browser and going to e-trade. com and pressing a buy button and purchasing it, right? You have actually 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 buy some Bitcoin.
So, a lot of people find that too bothersome, and that's why individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are prepared to put in possibly the 20 minutes needed to go through a process which just takes five minutes if you wish to establish a brokerage account - teeka tiwari twitter.
"Oh Teeka, we enjoy your ideas, but gosh, setting up a crypto account is so tough." What I inform them is I say, "Look, when it's simple 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 actually truly earning money an enormous amount of cash to go through possibly, you understand, 20 minutes of a headache (undefined). teeka tiwari 5 coins.
So you can't buy Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software application. And can you picture what will take place to this entire market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Today you discussed the process that individuals go through, and something I wish to bring to light too that you didn't discuss, but I understand a lot of folks who battle 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 tough as possible, right, 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 buy $500 a week, Teeka (teeka tiwari palm beach). I suggest, it's if you keep in mind the early days of the Web, when we were getting on the Web, 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 suggest, we're in the early days of that innovation, but just like during that amount of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to speak with people who are, particularly somebody like yourself, who's devoted the last, you understand, the lion's share of the last few years to truly 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 two absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what offers it worth is that it is, there's just 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 deals on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals continuously try to hack it. However since of the nature of the network, today it's been unhackable. And really, with present technology, the Bitcoin network is so huge 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 actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't trust fiat money, you can print an unrestricted quantity of it. It's actually not protect, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari palm beach). Or individuals that were in Cypress, or just people who have 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 possibly be a driver for more adoption, since they already do not think in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a great deal of American or Western investors have a hard time getting their head around. teeka tiwari twitter. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin. However there are billions of people on the planet that do not have stable currencies.
Yeah. Therefore there's this whole burgeoning international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari picks. And utility coins are basically utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a global computer system that you can write computer programs for and run computer system programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, since you're essentially buying shows power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari glenn beck. And there are other ones out there, to provide individuals a concept, like a very basic one that I would imagine you 'd called an energy token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's type of this same type of network effect that you have with Bitcoin, where it resembles unstoppable kind of thing, since it's on many different locations and. I don't understand the ins and outs of it, but as an example for somebody who may simply be really basic in their understanding of this, there are a lot of different kinds of energies that are available.
And you kind of pointed out having this boots on the ground experience. Now, given that we're looking at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). The majority of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, however I think the real opportunity depends on the energy 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 people are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And individuals require to comprehend that not all utility coins are developed equivalent - teeka tiwari glenn beck.
So you have the benefit of committing your occupation to this, so you can go out there and do the reconnaissance, you can satisfy the creators, you can inspect the code, and so on. But for a typical individual, there's now what, over 1,000 various types of coins readily available, nearly 1,200 I believe. 'Cause normally it'll crash 80% approximately. Which's when we truly start looking at the idea in more information. So here are some fast and dirty things that you should look at, right? So, one is, are they resolving a problem that requires to be solved? Among the huge downsides with extremely smart, technical individuals, is that they like to solve problems that nobody appreciates solving. teeka tiwari twitter.
Does the team have experience of executing in an effective manner in another area of their life? And it does not even need to be directly related to cryptocurrency, it does not have to be even directly associated to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 men in a room that are simply out of college, unless they have actually got some actually great advisors behind them, I'm most likely not going to provide any money - teeka tiwari review.
Yeah. I think that in marketing in basic, my world of business, we constantly search for issues and how we can fix them. Now, are the problems things that individuals are trying to resolve a part of the Blockchain usually? Or would you say it's better if they're solving 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 basically searching for options that, so I'll give you an example - teeka tiwari 5 coins. undefined.
And the reason that we purchased it is since they found a way to make files tamper-proof, and it's 99% more affordable than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that started it has a track record of developing computer system programs that entire states run their whole operations on, right? So you've got all right, the wise guy has built huge computer system programs, excellent team, fixing a massive problem that is going to cut huge costs.
I indicate, it doesn't get any simpler than that in terms of choosing who to put money behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually basic rule, Ryan. If I do not understand something, I put up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).