However frauds and little scams. And there's one thing that a fraud always does: it constantly goes to absolutely no - teeka tiwari twitter. However 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. Which woke something up for me.
And so I can't ignore that. I have actually got to go dig deeper. glenn beck teeka tiwari." Therefore I began taking a trip all around the world. I started going to Bitcoin events; I began to speaking with people that were smarter than me in this area. And what I realized is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The implications of that, of being able to have data that we don't need to have it independently verified, it's cryptographically validated. That concept can ripple out throughout the entire greater economy. And when that penny dropped, I knew I needed to devote all my expert resources into ending up being an expert in this area.
And do you think, I mean you pointed out 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 understand validation procedure [inaudible 00:04:11].
We were simply speaking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly there's other individuals getting notified about it, like the IRS and things like that. Do you think that the average folks do not perhaps understand about these procedures, so they do not possibly see what you're stating as this breakthrough, they don't see it in their daily life? Or what do you consider that? I believe 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 upload your identity documents, then you've got to wait to get verified, and after that finally, you can go buy some Bitcoin.
So, a lot of people discover that too inconvenient, and that's why the individuals 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 procedure which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so difficult." 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 truly earning money an enormous amount of cash to go through perhaps, you know, 20 minutes of a headache (undefined). teeka tiwari review.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you imagine what will occur to this entire market when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari twitter - undefined.
Right now you mentioned the process that individuals go through, and something I wish to expose too that you didn't discuss, however I understand a great deal of folks who have a hard time with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can only purchase $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me permanently before I might start purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari reviews). I mean, 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 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 remain in the early days of that innovation, however similar to throughout that period 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 companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a second, since I'm always curious to talk with individuals who are, especially somebody like yourself, who's dedicated the last, you understand, the lion's share of the last couple of years to truly go both feet in on this - teeka tiwari twitter. How do you describe cryptocurrency to like a typical person? That's an excellent question.
They're 2 totally various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what offers it value is that it is, there's just going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. And so if you look at that Bitcoin network, individuals continuously attempt to hack it. But since of the nature of the network, today it's been unhackable. And truly, with current technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
And so when people 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 don't trust fiat money, you can print a limitless quantity of it. It's really not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari wikipedia). Or individuals that remained in Cypress, or just individuals who have suffered through either devaluation, 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 catalyst 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 difficult time getting their head around. teeka tiwari review. They resemble, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. But there are billions of people in the world that don't have steady currencies.
Yeah. And so there's this whole growing global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari review. And utility coins are essentially utilized, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially an international computer system that you can write computer programs for and run computer programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, because you're basically purchasing programs power. So I would not truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to give people a concept, like a really basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's kind of this same type of network result that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on so lots of different areas and. I do not understand the ins and outs of it, however as an example for somebody who may just be extremely basic in their understanding of this, there are many different types of energies that are offered.
And you type of mentioned having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). Many of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, however I think the genuine 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 few things that was going on, however people are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And individuals require to understand that not all utility coins are developed equal - teeka tiwari 5 coins.
So you have the benefit of devoting your occupation to this, so you can head out there and do the reconnaissance, you can meet the founders, you can check the code, etc. However for a typical person, there's now what, over 1,000 various types of coins offered, nearly 1,200 I think. 'Cause usually it'll crash 80% approximately. And that's when we truly begin taking a look at the idea in more detail. So here are some fast and filthy things that you should take a look at, right? So, one is, are they solving a problem that needs to be solved? Among the huge drawbacks with very smart, technical people, is that they like to fix problems that no one appreciates resolving. teeka tiwari glenn beck.
Does the team have experience of executing in a successful way in another location of their life? And it doesn't even need to be straight related to cryptocurrency, it does not have to be even directly associated to software application, right? So, however I desire 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 actually excellent advisors behind them, I'm most likely not going to provide any cash - teeka tiwari review.
Yeah. I believe that in marketing in basic, my world of business, we constantly try to find problems and how we can fix them. Now, are the issues things that people are attempting to solve a part of the Blockchain normally? 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 basically trying to find solutions that, so I'll provide you an example - teeka tiwari reviews. undefined.
And the reason that we bought it is due to the fact that they found a way to make documents tamper-proof, and it's 99% cheaper than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a track record of developing computer system programs that whole states run their entire operations on, right? So you've got alright, the wise guy has actually built huge computer system programs, fantastic group, solving an enormous problem that is going to cut big costs.
I mean, it does not get any simpler than that in regards to choosing who to put money behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complex than it is. And I have a truly simple guideline, Ryan. If I do not understand something, I installed my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).