But scams and little scams. And there's something that a scams constantly 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 massive hack. And that woke something up for me.
And so I can't disregard that. I've got to go dig much deeper. teeka tiwari twitter." Therefore I began taking a trip all around the world. I began going to Bitcoin events; I started to talking to individuals that were smarter than me in this area. And what I understood is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how huge that is! The ramifications of that, of having the ability to have information that we don't need to have it independently verified, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I understood I needed to commit all my professional resources into becoming a professional in this area.
And do you think, I indicate you pointed out something there about not having to get a third-party, or intermediary to verify 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 may not even completely understand validation process [inaudible 00:04:11].
We were just speaking about how I'm leaving to go to China, to China. And heaven forbid 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 do not perhaps understand about these processes, so they do not maybe see what you're stating as this development, they don't see it in their daily life? Or what do you believe about that? I think that's true.
It's not as simple as shooting up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You've got to go to an exchange, you've got to publish your identity documents, then you've got to wait to get confirmed, and then finally, you can go buy some Bitcoin.
So, a great deal of individuals discover that too inconvenient, which's why individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: people that are willing to put in maybe the 20 minutes needed to go through a procedure which just takes five minutes if you want to establish a brokerage account - teeka tiwari net worth.
"Oh Teeka, we love your ideas, however gosh, establishing a crypto account is so difficult." What I tell them is I state, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The entire cryptocurrency market will be 10x bigger. So you're actually really earning money a massive quantity of cash to go through perhaps, you know, 20 minutes of a headache (undefined). teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, before you'll be able to buy cryptocurrencies directly through your trading software application. And can you envision what will take place to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari next bitcoin - undefined.
Today you discussed the procedure that individuals go through, and one thing I want to bring to light too that you didn't discuss, but I know a great deal of folks who fight with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me forever prior to I might begin buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari 5 coins). I mean, 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 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 indicate, we're in the early days of that technology, but much like throughout that duration 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to speak to people who are, specifically someone like yourself, who's committed the last, you understand, the lion's share of the last few years to really go both feet in on this - teeka tiwari wikipedia. How do you describe cryptocurrency to like a typical individual? That's a terrific question.
They're two absolutely various things, however 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 provides 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, validating the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, people constantly try 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 right now, you can't co-opt it, you can't take it over (undefined).
And so when people put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't trust paper currency, you can print a limitless amount of it. It's truly 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 picks). Or individuals that were in Cypress, or just individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, because they already do not think in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western investors have a bumpy ride getting their head around. teeka tiwari twitter. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of individuals worldwide that do not have steady currencies.
Yeah. And so there's this entire burgeoning global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari review. And utility coins are generally used, let's say Ethereum, which a lot of people learn about Ethereum. Ethereum is essentially a worldwide computer system that you can write computer system programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, since you're basically purchasing programming power. So I would not actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari palm beach. And there are other ones out there, to offer people an idea, like a really easy one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's type of this exact same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on numerous various areas and. I do not know the ins and outs of it, but as an example for somebody who might simply be very fundamental in their understanding of this, there are numerous different types of energies that are offered.
And you type of mentioned having this boots on the ground experience. Now, considering that we're looking at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). Most of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, however I believe the genuine chance lies in the utility coin area.
There's all of these ICOs that were happening, those slowed down a little bit with some changes to a few things that was going on, but people are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And individuals need to comprehend that not all utility coins are developed equivalent - teeka tiwari reviews.
So you have the advantage of devoting your profession to this, so you can go out there and do the reconnaissance, you can meet the creators, you can inspect the code, and so on. However for an average individual, there's now what, over 1,000 various types of coins available, nearly 1,200 I think. 'Cause generally it'll crash 80% approximately. And that's when we truly start taking a look at the idea in more detail. So here are some fast and dirty things that you should take a look at, right? So, one is, are they solving a problem that needs to be resolved? Among the big downsides with really wise, technical people, is that they like to solve issues that no one appreciates fixing. teeka tiwari review.
Does the group have experience of executing in an effective way in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't need to be even directly related to software, right? So, however I desire to see a performance history of success in something, right? If it's 4 men in a space that are simply out of college, unless they have actually got some truly great advisors behind them, I'm probably not going to give them any money - teeka tiwari next bitcoin.
Yeah. I believe that in marketing in basic, my world of business, we constantly look for issues and how we can fix them. Now, are the problems things that individuals are trying to fix a part of the Blockchain typically? Or would you say it's better if they're solving 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 trying to find services that, so I'll provide you an example - teeka tiwari palm beach. undefined.
And the factor that we purchased it is because they found a way to make documents 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 person that began it has a performance history of developing computer system programs that entire states run their whole operations on, right? So you have actually got fine, the wise person has built big computer programs, fantastic group, resolving an enormous problem that is going to cut substantial expenses.
I indicate, it does not get any simpler than that in terms of choosing who to put cash behind. And a great deal of this is typical sense, and a lot of folks will attempt to make things more complex than it is. And I have a truly simple rule, Ryan. If I don't comprehend something, I installed my hand, and I say, "I didn't understand what you simply stated." Mm-hmm (affirmative).