However frauds and little frauds. And there's one thing that a fraud constantly does: it constantly goes to absolutely no - teeka tiwari next bitcoin. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The massive hack. Which woke something up for me.
Therefore I can't overlook that. I have actually got to go dig deeper. teeka tiwari wikipedia." Therefore I began taking a trip all around the world. I started going to Bitcoin events; I started to speaking with people that were smarter than me in this area. And what I understood is that Blockchain technology and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have information that we don't require to have it separately verified, it's cryptographically validated. That concept can ripple out throughout the entire greater economy. And when that cent dropped, I knew I needed to devote all my expert resources into becoming a specialist 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 validate 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 recognition procedure [inaudible 00:04:11].
We were simply speaking about how I'm leaving to go to China, to China. And heaven forbid 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 typical folks don't possibly understand about these procedures, so they don't perhaps see what you're saying as this breakthrough, they do not see it in their everyday life? Or what do you believe about that? I think that's real.
It's not as easy as shooting up a web internet browser and going to e-trade. com and pressing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to publish your identity documents, then you've got to wait to get verified, and then finally, you can go buy some Bitcoin.
So, a lot of people find that too troublesome, and that's why the people that are actually making the most amount of money today in cryptocurrencies are the early adopters: individuals that are willing to put in perhaps the 20 minutes required to go through a process which just takes 5 minutes if you wish to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we enjoy your ideas, however gosh, establishing a crypto account is so challenging." What I tell 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 actually really getting paid an enormous amount of money to go through possibly, you understand, 20 minutes of a nuisance (undefined). teeka tiwari picks.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you imagine what will take place to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari palm beach - undefined.
Right now you discussed the procedure that individuals go through, and something I desire to bring to light too that you didn't mention, however I understand a lot of folks who have a hard time with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me permanently prior to I could begin buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari net worth). I suggest, it's if you keep in mind the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I mean 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 mean, we remain in the early days of that technology, however similar to during that duration 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 business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm constantly curious to talk with individuals who are, particularly somebody like yourself, who's committed the last, you understand, the lion's share of the last few years to truly go both feet in on this - teeka tiwari glenn beck. How do you explain cryptocurrency to like a typical individual? That's a great concern.
They're two totally different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to cash. So Bitcoin would be a cryptocurrency. And so what offers it value is that it is, there's just going to be a minimal quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. And so if you look at that Bitcoin network, people constantly try to hack it. However because of the nature of the network, today it's been unhackable. And really, with present 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 literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't rely on paper cash, you can print an endless 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, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari review). Or individuals that were in Cypress, or simply people who have suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, because they currently don't think in their own currency? Yeah, and I think we've 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 reviews. They're like, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of people on the planet that don't have stable currencies.
Yeah. Therefore there's this entire growing international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari reviews. And utility coins are basically used, let's state Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is basically a worldwide computer system that you can write computer programs for and run computer system programs on a worldwide decentralized computer system program.
So we consider something like Ether an utility token, since you're essentially purchasing programs power. So I wouldn't really consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to give individuals an idea, like a really basic one that I would imagine 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 type of this exact same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, due to the fact that it's on many different locations and. I do not know the ins and outs of it, however as an example for somebody who may simply be really fundamental in their understanding of this, there are numerous different types of energies that are 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). The majority of the coins that I recommend and look at are utility-based. We have a couple of cryptocurrencies, but I think the real chance lies in the utility coin space.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And people require to comprehend that not all energy coins are produced equivalent - teeka tiwari wikipedia.
So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can fulfill the founders, you can inspect the code, and so on. But for a typical individual, there's now what, over 1,000 different types of coins offered, nearly 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 fast and filthy things that you should look at, right? So, one is, are they solving a problem that requires to be fixed? Among the big drawbacks with extremely wise, technical people, is that they like to resolve issues that no one appreciates solving. teeka tiwari reviews.
Does the group have experience of performing in a successful manner in another area 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 desire to see a performance history 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 excellent advisors behind them, I'm probably not going to provide any cash - teeka tiwari glenn beck.
Yeah. I believe that in marketing in basic, my world of business, we constantly try to find problems and how we can solve them. Now, are the problems things that individuals are trying to solve a part of the Blockchain generally? Or would you state it's better if they're fixing type 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 generally trying to find solutions that, so I'll provide you an example - teeka tiwari wikipedia. undefined.
And the reason that we bought it is because they found a way to make files tamper-proof, and it's 99% less expensive than current 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 track record of developing computer system programs that entire states run their whole operations on, right? So you have actually got fine, the smart man has constructed substantial computer system programs, fantastic team, fixing a massive issue that is going to cut big expenses.
I mean, it does not get any easier than that in terms of choosing who to put cash 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 understand something, I put up my hand, and I say, "I didn't understand what you just said." Mm-hmm (affirmative).