However scams and little frauds. And there's something that a fraud constantly does: it constantly goes to zero - 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.
Therefore I can't neglect that. I've got to go dig deeper. teeka tiwari 5 coins." And so I started traveling all around the world. I began going to Bitcoin events; I started to talking to people that were smarter than me in this space. And what I recognized is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The implications of that, of having the ability to have data that we don't need to have it separately confirmed, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I knew I had to dedicate all my expert resources into ending up being an expert in this area.
And do you believe, I indicate you discussed something there about not needing to get a third-party, or intermediary to verify something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a lot of folks might not even totally comprehend recognition process [inaudible 00:04:11].
We were simply speaking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the average folks do not maybe learn about these processes, so they do not maybe see what you're saying as this development, they do not see it in their daily life? Or what do you believe about that? I think that holds true.
It's not as easy as shooting 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've got to submit your identity documents, then you have actually got to wait to get validated, and then lastly, you can go buy some Bitcoin.
So, a great deal of people find that too bothersome, and that's why individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes required to go through a process which simply takes five minutes if you wish to establish a brokerage account - teeka tiwari.
"Oh Teeka, we love your concepts, however gosh, establishing a crypto account is so difficult." What I tell them is I state, "Look, when it's easy as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The entire cryptocurrency market will be 10x larger. So you're actually truly earning money a huge amount of cash to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari twitter.
So you can't buy Bitcoin yet through their trading platform, but it is just a question of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you envision what will happen to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari twitter - undefined.
Right now you discussed the procedure that individuals go through, and something I desire to bring to light too that you didn't point out, but I know a lot of folks who battle with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just buy $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me forever before I might start buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari glenn beck). I imply, it's if you keep in mind the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I suggest 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 mean, we're in the early days of that technology, but simply like during that amount 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 absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm always curious to talk with individuals who are, particularly somebody like yourself, who's devoted the last, you understand, the much better part of the last couple of years to really go both feet in on this - teeka tiwari palm beach. How do you describe cryptocurrency to like a typical person? That's a terrific 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. Therefore what offers it value is that it is, there's only going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals continuously try to hack it. But because of the nature of the network, today it's been unhackable. And really, with present technology, the Bitcoin network is so big today, 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 because they're stating, "We don't trust fiat money, you can print a limitless quantity of it. It's truly not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari 5 coins). Or individuals that were in Cypress, or just individuals who have suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, because 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 difficult time getting their head around. teeka tiwari palm beach. They're like, "Well I do not need 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 worldwide that do not have steady currencies.
Yeah. Therefore there's this entire burgeoning global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari review. And energy coins are essentially used, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a worldwide computer system that you can compose computer 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 shows power. So I would not truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari palm beach. And there are other ones out there, to provide people an idea, like a really simple one that I would envision 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 sort of this exact same kind of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on a lot of different areas and. I do not know the ins and outs of it, but as an example for someone who might just be extremely fundamental in their understanding of this, there are many various types of utilities that are available.
And you sort 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, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and take a look at are utility-based. We have a couple of cryptocurrencies, however I believe the real chance lies in the utility coin area.
There's all of these ICOs that were happening, those decreased a little bit with some changes to a few things that was going on, but individuals are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And people require to comprehend that not all energy coins are developed equal - teeka tiwari review.
So you have the advantage of devoting your profession to this, so you can go out there and do the recon, you can meet the founders, you can examine the code, and so on. But for an average person, there's now what, over 1,000 different types of coins readily available, practically 1,200 I think. 'Cause typically it'll crash 80% approximately. And that's when we truly start taking a look at the idea in more information. So here are some fast and filthy things that you should look at, right? So, one is, are they resolving an issue that needs to be fixed? Among the big disadvantages with extremely clever, technical individuals, is that they like to fix problems that no one appreciates fixing. teeka tiwari twitter.
Does the group have experience of carrying out in an effective manner in another area of their life? And it doesn't even need to be straight related to cryptocurrency, it does not need to be even straight associated to software, right? So, but I desire to see a track record of success in something, right? If it's 4 people in a space that are simply out of college, unless they've got some actually excellent consultants behind them, I'm most likely not going to provide them any cash - teeka tiwari net worth.
Yeah. I think that in marketing in general, my world of service, we constantly look for issues and how we can fix them. Now, are the issues things that people are trying to resolve a part of the Blockchain usually? Or would you say it's much 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 basically looking for services that, so I'll provide you an example - teeka tiwari twitter. undefined.
And the reason that we bought it is due to the fact that they discovered a method to make files tamper-proof, and it's 99% less expensive than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that began it has a performance history of creating computer programs that whole states run their whole operations on, right? So you've got okay, the wise man has built big computer programs, excellent group, fixing a huge issue that is going to cut huge costs.
I indicate, it does not get any simpler than that in terms of deciding who to put money behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have an actually simple guideline, Ryan. If I do not comprehend something, I set up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).