However frauds and small frauds. And there's one thing that a fraud constantly does: it constantly goes to zero - teeka tiwari next bitcoin. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. Which woke something up for me.
And so I can't neglect that. I have actually got to go dig much deeper. teeka tiwari twitter." And so I started taking a trip all around the world. I started going to Bitcoin events; I began to speaking with individuals that were smarter than me in this space. And what I realized is that Blockchain technology and the implementation of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how huge that is! The implications of that, of being able to have information that we don't require to have it individually verified, it's cryptographically confirmed. That principle can ripple out throughout the entire higher economy. And when that penny dropped, I understood I needed to dedicate all my professional resources into ending up being an expert in this space.
And do you believe, I mean you pointed out 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 great deal of folks may not even completely comprehend validation procedure [inaudible 00:04:11].
We were just talking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then all of an abrupt there's other individuals getting informed about it, like the IRS and things like that. Do you believe that the average folks do not perhaps understand about these procedures, so they do not perhaps see what you're stating as this development, they don't see it in their everyday life? Or what do you think about that? I believe that holds true.
It's not as easy as firing up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You have actually 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 finally, you can go buy some Bitcoin.
So, a lot of people discover that too inconvenient, which's why individuals that are literally making the most amount of cash today 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 wikipedia.
"Oh Teeka, we enjoy your concepts, but gosh, setting up a crypto account is so hard." What I inform them is I state, "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 making money a massive quantity of money to go through perhaps, you know, 20 minutes of a nuisance (undefined). teeka tiwari palm beach.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you picture what will occur to this whole market when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari net worth - undefined.
Right now you mentioned the process that individuals go through, and something I wish to bring to light too that you didn't mention, however I understand 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 hard as possible, ideal, like Coinbase. It 'd take me permanently before I could begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari picks). I suggest, 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 indicate 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 mean, we remain in the early days of that technology, however similar to during that period of time, for the folks that had the vision to see where the future was going, and then bought in on a few of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to talk to individuals who are, especially someone like yourself, who's devoted the last, you know, the bulk of the last few years to actually go both feet in on this - teeka tiwari palm beach. How do you describe cryptocurrency to like a typical person? That's a fantastic concern.
They're 2 absolutely different 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. Therefore what gives it value is that it is, there's just going to be a minimal quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions 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 existing innovation, 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 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 rely on fiat money, you can print an endless quantity of it. It's truly not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (teeka tiwari). Or individuals that were in Cypress, or simply people who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, due to the fact that they currently 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 lot of American or Western financiers have a difficult time getting their head around. teeka tiwari picks. They resemble, "Well I do not 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 on the planet that do not have steady currencies.
Yeah. Therefore there's this whole blossoming worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - glenn beck teeka tiwari. And utility coins are essentially used, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a worldwide computer system that you can write computer programs for and run computer programs on a worldwide decentralized computer system program.
So we consider something like Ether an energy token, because you're essentially buying programs power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to give people a concept, like a really easy one that I would picture you 'd called an utility token, is like FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's sort of this same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on numerous different areas and. I don't understand the ins and outs of it, but as an example for someone who might simply be extremely standard in their understanding of this, there are so lots of various types of energies that are offered.
And you type of pointed out having this boots on the ground experience. Now, because we're taking a look at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I think the real chance lies in the energy coin space.
There's all of these ICOs that were taking place, those slowed down a bit with some modifications to a few things that was going on, but people are going to come out of the woodwork and start to create energy coins- Correct, yeah. And individuals require to understand that not all energy coins are developed equivalent - teeka tiwari wikipedia.
So you have the advantage of devoting your occupation to this, so you can head out there and do the reconnaissance, you can satisfy the founders, you can inspect the code, and so on. However for a typical person, there's now what, over 1,000 various kinds of coins readily available, practically 1,200 I believe. 'Cause generally it'll crash 80% or so. Which's when we really start taking a look at the idea in more information. So here are some fast and dirty things that you should look at, right? So, one is, are they resolving an issue that requires to be fixed? Among the big downsides with really wise, technical individuals, is that they like to fix problems that nobody appreciates fixing. teeka tiwari reviews.
Does the group have experience of performing in an effective way in another area of their life? And it doesn't even need to be directly related to cryptocurrency, it does not have to be even directly related to software, right? So, but I want to see a track record of success in something, right? If it's four people in a room that are simply out of college, unless they have actually got some truly good advisors behind them, I'm most likely not going to provide any money - teeka tiwari picks.
Yeah. I believe that in marketing in basic, my world of company, we continuously search for issues and how we can resolve them. Now, are the problems things that individuals are attempting to fix a part of the Blockchain typically? Or would you state it's better if they're fixing kind 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 solutions that, so I'll offer you an example - teeka tiwari reviews. undefined.
And the factor that we bought it is due to the fact that they found a method to make files 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 person that started it has a performance history of creating computer system programs that whole states run their whole operations on, right? So you've got fine, the smart guy has developed huge computer system programs, great team, fixing a massive problem that is going to cut substantial costs.
I mean, it doesn't get any simpler than that in regards to deciding who to put money behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complicated than it is. And I have a really simple rule, Ryan. If I do not comprehend something, I installed my hand, and I say, "I didn't understand what you simply said." Mm-hmm (affirmative).