However scams and little frauds. And there's one thing that a scams constantly does: it always goes to no - teeka tiwari review. 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 disregard that. I have actually got to go dig much deeper. teeka tiwari next bitcoin." Therefore I started taking a trip all around the world. I began going to Bitcoin occasions; I started to talking with individuals that were smarter than me in this space. And what I recognized is that Blockchain technology and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The ramifications of that, of having the ability to have information that we don't need to have it independently confirmed, it's cryptographically verified. That idea can ripple out throughout the entire greater economy. And when that cent dropped, I knew I needed to dedicate all my professional resources into becoming a specialist in this space.
And do you believe, I imply you mentioned 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 might not even fully comprehend validation process [inaudible 00:04:11].
We were just talking 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 notified about it, like the IRS and things like that. Do you think that the average folks don't maybe understand about these processes, so they do not possibly see what you're stating 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 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 have actually got to submit your identity files, then you've got to wait to get verified, and then lastly, you can go purchase some Bitcoin.
So, a lot of individuals find that too bothersome, and that's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes needed to go through a process which just takes five minutes if you want to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we like your concepts, however gosh, establishing a crypto account is so difficult." What I tell 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 in fact truly getting paid a massive amount of money to go through possibly, you understand, 20 minutes of a headache (undefined). teeka tiwari picks.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies directly through your trading software. And can you picture what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Right now you pointed out the procedure that people go through, and one thing I wish to expose too that you didn't point out, but I know a great deal of folks who deal with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just purchase $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 resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari picks). I imply, it's if you remember the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I imply 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 much like during that period of time, 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 companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm constantly curious to talk with people who are, especially somebody like yourself, who's dedicated the last, you understand, the better part of the last few years to really go both feet in on this - teeka tiwari 5 coins. How do you describe cryptocurrency to like a typical individual? That's a fantastic question.
They're 2 totally various things, but 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 provides it value is that it is, there's only going to be a restricted quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals continuously attempt to hack it. However since of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not trust paper currency, you can print an unrestricted quantity of it. It's really not secure, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari next bitcoin). Or people that remained in Cypress, or simply people who have suffered through either run-away inflation, or there's a high need for, in Argentina for example, 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 don't believe in their own currency? Yeah, and I believe we've currently 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 reviews. They're like, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. However there are billions of individuals worldwide that do not have steady currencies.
Yeah. And so there's this whole blossoming worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari twitter. And utility coins are generally used, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically a global computer system that you can write computer system programs for and run computer system programs on a worldwide decentralized computer system program.
So we think about something like Ether an utility token, since you're essentially purchasing programs power. So I would not really think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to offer individuals a concept, like an extremely simple one that I would envision you 'd called an energy token, is like FileCoin.
Where the concept is that essentially 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's like unstoppable kind of thing, because it's on a lot of different locations and. I do not understand the ins and outs of it, however as an example for somebody who might simply be extremely fundamental in their understanding of this, there are numerous various types of energies that are readily available.
And you kind of discussed having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely energy based, remedy? 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, but I believe the real chance depends on the utility coin area.
There's all of these ICOs that were taking place, those slowed down a little bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And individuals need to comprehend that not all energy coins are produced equal - teeka tiwari review.
So you have the benefit of committing your profession to this, so you can head 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, almost 1,200 I think. 'Cause typically it'll crash 80% or so. Which's when we actually start taking a look at the idea in more information. So here are some quick and filthy things that you should look at, right? So, one is, are they fixing an issue that needs to be resolved? Among the big drawbacks with extremely clever, technical individuals, is that they like to fix problems that no one cares about resolving. teeka tiwari glenn beck.
Does the group have experience of carrying out in a successful way in another location of their life? And it doesn't even have to be directly related to cryptocurrency, it does not have to be even straight associated to software, right? So, but I want to see a track record of success in something, right? If it's four men in a space that are just out of college, unless they've got some actually excellent advisors behind them, I'm most likely not going to offer them any money - teeka tiwari wikipedia.
Yeah. I think that in marketing in general, my world of company, we constantly look for problems and how we can resolve them. Now, are the problems things that people are attempting to solve a part of the Blockchain usually? Or would you state it's much better if they're fixing type 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 searching for options that, so I'll offer you an example - teeka tiwari net worth. undefined.
And the reason that we purchased it is due to the fact that they found a way to make documents tamper-proof, and it's 99% less expensive than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that started it has a track record of producing computer programs that whole states run their whole operations on, right? So you've got fine, the wise man has constructed substantial computer programs, excellent group, fixing a massive issue that is going to cut big expenses.
I indicate, it doesn't get any easier than that in terms of choosing who to put money behind. And a lot of this is common sense, and a lot of folks will try to make things more complex than it is. And I have a really basic rule, Ryan. If I do not comprehend something, I set up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).