However frauds and small frauds. And there's something that a fraud always does: it constantly goes to zero - teeka tiwari picks. 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. Which woke something up for me.
And so I can't disregard that. I have actually got to go dig deeper. teeka tiwari twitter." And so I started 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 recognized is that Blockchain innovation and the application of Blockchain technology 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 information that we do not require to have it separately confirmed, it's cryptographically verified. 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 becoming a professional in this space.
And do you think, I suggest you discussed 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 lot of folks may not even totally comprehend validation process [inaudible 00:04:11].
We were simply speaking 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 notified about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not perhaps learn about these procedures, so they do not maybe see what you're saying as this advancement, they do not see it in their daily life? Or what do you think about that? I think that holds true.
It's not as easy as firing up a web internet browser and going to e-trade. com and pressing a buy button and buying it, right? You have actually got to go to an exchange, you have actually got to publish your identity files, then you have actually got to wait to get confirmed, and after that finally, you can go buy some Bitcoin.
So, a great deal of individuals find that too bothersome, which's why the people that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes needed to go through a process which simply takes five minutes if you wish to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we enjoy your ideas, but gosh, establishing a crypto account is so tough." 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 actually really earning money a huge quantity of cash to go through possibly, you know, 20 minutes of a nuisance (undefined). teeka tiwari palm beach.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, prior to you'll be able to buy cryptocurrencies directly through your trading software application. And can you envision what will take place to this whole marketplace when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari reviews - undefined.
Today you discussed the process that people go through, and one thing I wish to expose too that you didn't mention, 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 only buy $500 a week.
As difficult as possible, ideal, like Coinbase. It 'd take me forever before I might begin buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari next bitcoin). I suggest, 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 indicate 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 suggest, we're in the early days of that technology, but just like during that amount of time, for the folks that had the vision to see where the future was going, and then purchased in on a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, since I'm always curious to speak with individuals who are, particularly someone like yourself, who's dedicated the last, you know, the lion's share of the last couple of years to truly go both feet in on this - teeka tiwari reviews. How do you explain cryptocurrency to like an average individual? That's an excellent concern.
They're 2 absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. And so what offers it worth 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, verifying the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals constantly attempt to hack it. However because 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).
And so when people put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't rely on paper cash, you can print an endless amount of it. It's actually not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari reviews). Or people that remained in Cypress, or simply individuals who have actually suffered through either run-away inflation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, since they already do not think in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a bumpy ride getting their head around. teeka tiwari palm beach. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. However there are billions of people worldwide that don't have steady currencies.
Yeah. And so there's this entire blossoming worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari picks. And utility coins are essentially used, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a worldwide computer that you can compose computer programs for and run computer programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, because you're essentially buying shows power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari twitter. And there are other ones out there, to provide people an idea, like an extremely simple one that I would imagine you 'd called an utility token, is like FileCoin.
Where the idea is that basically 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, due to the fact that it's on many various locations and. I don't know the ins and outs of it, however as an example for someone who may just be very basic in their understanding of this, there are many different kinds of utilities that are readily available.
And you type of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are probably energy based, fix? Mm-hmm (affirmative). Most of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, but I think the real opportunity depends on 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 individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people need to understand that not all energy coins are created equivalent - teeka tiwari next bitcoin.
So you have the benefit of devoting your profession to this, so you can head out there and do the reconnaissance, 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 various kinds of coins offered, practically 1,200 I believe. 'Cause generally it'll crash 80% approximately. Which's when we truly begin taking a look at the concept in more detail. So here are some quick and filthy things that you should take a look at, right? So, one is, are they solving an issue that requires to be resolved? Among the big disadvantages with very clever, technical individuals, is that they like to solve issues that nobody appreciates resolving. glenn beck teeka tiwari.
Does the group have experience of carrying out in an effective way in another area of their life? And it does not even have to be straight related to cryptocurrency, it does not have to be even directly related to software application, right? So, however I desire to see a track record of success in something, right? If it's four men in a space that are simply out of college, unless they've got some truly good advisors behind them, I'm probably not going to offer them any cash - teeka tiwari palm beach.
Yeah. I think that in marketing in general, my world of company, we constantly try to find problems and how we can resolve them. Now, are the issues things that individuals are trying to fix a part of the Blockchain typically? Or would you say it's much better if they're resolving 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 services that, so I'll provide you an example - glenn beck teeka tiwari. undefined.
And the reason that we bought it is because they found a method to make documents tamper-proof, and it's 99% more affordable than present technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a track record of creating computer system programs that whole states run their entire operations on, right? So you've got alright, the smart man has built substantial computer programs, excellent group, solving a massive issue that is going to cut huge expenses.
I indicate, it doesn't get any simpler than that in regards to 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 complex than it is. And I have a truly basic guideline, Ryan. If I don't understand something, I set up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).