But frauds and little scams. And there's something that a scams constantly does: it always goes to zero - teeka tiwari 5 coins. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The massive hack. And that woke something up for me.
Therefore I can't overlook that. I have actually got to go dig deeper. teeka tiwari glenn beck." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I started to talking with individuals that were smarter than me in this space. And what I understood is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how massive that is! The implications of that, of having the ability to have data that we don't require to have it independently validated, it's cryptographically confirmed. 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 becoming a specialist in this area.
And do you think, I indicate you mentioned something there about not needing to get a third-party, or intermediary to confirm 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 may not even fully comprehend validation process [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you believe that the average folks don't maybe understand 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 believe that's real.
It's not as simple as firing up a web internet 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 upload your identity documents, then you've got to wait to get verified, and then lastly, you can go buy some Bitcoin.
So, a lot of individuals discover that too troublesome, and that's why the individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are ready to put in possibly the 20 minutes needed to go through a procedure which simply takes 5 minutes if you wish to establish a brokerage account - teeka tiwari picks.
"Oh Teeka, we enjoy your concepts, however gosh, setting up 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 larger. So you're actually really getting paid a huge quantity of money to go through possibly, you know, 20 minutes of a nuisance (undefined). teeka tiwari glenn beck.
So you can't purchase Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies directly through your trading software application. And can you envision what will happen to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari review - undefined.
Today you pointed out the procedure that individuals go through, and something I wish to expose too that you didn't discuss, but I understand a great deal of folks who battle with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently before I could start buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari net worth). I imply, it's if you remember the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I imply it would take 20 minutes to pack 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 throughout that time period, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm constantly curious to speak with people who are, especially someone like yourself, who's devoted the last, you know, the lion's share of the last few years to truly go both feet in on this - teeka tiwari wikipedia. How do you explain cryptocurrency to like a typical individual? That's a fantastic concern.
They're 2 completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying 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 restricted amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And actually, with existing innovation, 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 have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't trust fiat money, you can print an endless amount of it. It's really not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari wikipedia). Or people that remained in Cypress, or simply people who have actually 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 countries that could potentially be a catalyst for more adoption, because they already don't believe 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 difficult time getting their head around. teeka tiwari net worth. They resemble, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. But there are billions of people in the world that do not have stable currencies.
Yeah. And so there's this whole burgeoning global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari 5 coins. And utility coins are basically used, let's state Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is essentially a global computer that you can compose computer system programs for and run computer system programs on an internationally decentralized computer system program.
So we think about something like Ether an utility token, since you're basically buying programs power. So I would not really think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari picks. And there are other ones out there, to give people an idea, like an extremely simple one that I would envision 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 very same type of network effect that you have with Bitcoin, where it resembles unstoppable example, because it's on a lot of different locations and. I don't understand the ins and outs of it, but as an example for someone who might simply be extremely fundamental in their understanding of this, there are a lot of different kinds of utilities that are available.
And you type of pointed out having this boots on the ground experience. Now, because we're looking at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the real opportunity lies in the energy coin space.
There's all of these ICOs that were happening, those slowed down a bit with some modifications to a couple of things that was going on, but people are going to come out of the woodwork and start to develop energy coins- Correct, yeah. And individuals require to comprehend that not all energy coins are developed equal - teeka tiwari palm beach.
So you have the advantage of devoting your profession to this, so you can head out there and do the reconnaissance, you can meet the founders, you can inspect the code, and so on. But for a typical individual, there's now what, over 1,000 various kinds of coins offered, almost 1,200 I believe. 'Cause normally it'll crash 80% or two. And that's when we truly begin taking a look at the concept in more detail. So here are some fast and dirty things that you should take a look at, right? So, one is, are they fixing a problem that requires to be resolved? Among the huge downsides with really wise, technical individuals, is that they like to resolve problems that nobody cares about resolving. teeka tiwari glenn beck.
Does the team have experience of performing in an effective manner in another area of their life? And it doesn't even have to be straight associated to cryptocurrency, it doesn't have to be even straight associated to software, right? So, however I want to see a performance history of success in something, right? If it's 4 men in a space that are simply out of college, unless they have actually got some really excellent consultants behind them, I'm probably not going to provide any money - teeka tiwari palm beach.
Yeah. I think that in marketing in basic, my world of company, we continuously try to find issues and how we can fix them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain typically? Or would you say it's much better if they're solving kind 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 looking for options that, so I'll offer you an example - teeka tiwari net worth. undefined.
And the factor that we purchased it is due to the fact that they found a way to make documents tamper-proof, and it's 99% cheaper than existing innovation, 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 developing computer programs that entire states run their entire operations on, right? So you have actually got all right, the clever man has actually developed huge computer programs, great team, solving a huge problem that is going to cut substantial expenses.
I imply, it doesn't get any easier than that in terms of deciding who to put cash behind. And a lot of this is common sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly basic 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).