However frauds and small frauds. And there's one thing that a scams always does: it always goes to no - teeka tiwari palm beach. 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 enormous hack. Which woke something up for me.
And so I can't ignore that. I have actually got to go dig much deeper. teeka tiwari picks." And so I started traveling all around the world. I began going to Bitcoin occasions; I began to speaking to people that were smarter than me in this space. And what I realized is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The implications of that, of having the ability to have data that we don't require to have it separately verified, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that cent dropped, I knew I had to commit all my professional resources into becoming a professional in this area.
And do you believe, I mean you mentioned 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 lot of folks might not even totally understand recognition process [inaudible 00:04:11].
We were just discussing how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then all of an unexpected there's other people getting informed about it, like the IRS and things like that. Do you believe that the typical folks do not perhaps know about these processes, so they don't maybe see what you're saying as this breakthrough, they don't see it in their everyday life? Or what do you consider that? I think that's true.
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've got to publish your identity documents, then you've got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a great deal of individuals find that too troublesome, which's why the individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes needed to go through a procedure which simply takes 5 minutes if you desire to establish a brokerage account - glenn beck teeka tiwari.
"Oh Teeka, we like your ideas, but gosh, setting up a crypto account is so tough." 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 entire cryptocurrency market will be 10x larger. So you're in fact truly making money an enormous quantity of cash to go through perhaps, you know, 20 minutes of a discomfort in the neck (undefined). teeka tiwari next bitcoin.
So you can't purchase Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software. And can you envision what will happen to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari 5 coins - undefined.
Right now you mentioned the process that people go through, and one thing I wish to expose too that you didn't discuss, however I know a great deal of folks who deal with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me forever prior to I might start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari 5 coins). 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 imply 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 suggest, we remain in the early days of that technology, but similar to during that period 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to talk with individuals who are, specifically somebody like yourself, who's committed the last, you understand, the better part of the last few years to actually go both feet in on this - teeka tiwari net worth. How do you describe cryptocurrency to like a typical individual? That's an excellent question.
They're two totally different things, but 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. Therefore what provides 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. Therefore if you take a 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 actually, with existing technology, the Bitcoin network is so huge 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 saying, "We do not trust paper currency, you can print an endless quantity of it. It's really not protect, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari twitter). Or individuals that remained in Cypress, or just people who have suffered through either run-away inflation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, due to the fact that they currently don't believe in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride getting their head around. teeka tiwari reviews. They resemble, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin. However there are billions of individuals on the planet that don't have steady currencies.
Yeah. Therefore there's this entire burgeoning worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari net worth. And energy coins are generally utilized, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially an international computer that you can write computer system programs for and run computer programs on a worldwide decentralized computer program.
So we consider something like Ether an energy token, due to the fact that you're essentially purchasing shows power. So I would not really consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to provide people an idea, like an extremely simple 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 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 so lots of various locations and. I do not understand the ins and outs of it, but as an example for someone who may just be very fundamental in their understanding of this, there are so lots of various kinds of energies that are offered.
And you sort of mentioned having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely energy based, remedy? 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 opportunity lies in the energy coin area.
There's all of these ICOs that were happening, those decreased a bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and begin to produce energy coins- Correct, yeah. And individuals require to understand that not all utility coins are produced equal - teeka tiwari.
So you have the benefit of committing your occupation to this, so you can head out there and do the reconnaissance, you can meet the founders, you can check the code, and so on. But for an average person, there's now what, over 1,000 various types of coins available, nearly 1,200 I believe. 'Cause usually it'll crash 80% or so. Which's when we truly begin looking at the concept in more information. So here are some quick and unclean things that you should take a look at, right? So, one is, are they solving a problem that needs to be fixed? Among the huge drawbacks with really clever, technical individuals, is that they like to fix issues that no one cares about fixing. teeka tiwari reviews.
Does the group have experience of carrying out in an effective way in another location of their life? And it does not even need to be directly related to cryptocurrency, it doesn't have to be even directly associated to software, right? So, however I desire to see a track record of success in something, right? If it's four people in a space that are just out of college, unless they've got some really excellent advisors behind them, I'm probably not going to provide any cash - teeka tiwari 5 coins.
Yeah. I think that in marketing in basic, my world of company, we continuously search for issues and how we can solve them. Now, are the issues things that individuals are attempting to resolve a part of the Blockchain normally? Or would you say it's much better if they're fixing 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 searching for solutions that, so I'll offer you an example - teeka tiwari glenn beck. undefined.
And the reason that we purchased it is since they found a way to make files tamper-proof, and it's 99% cheaper than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that started it has a performance history of producing computer system programs that entire states run their entire operations on, right? So you have actually got all right, the clever person has actually developed big computer system programs, terrific group, fixing a huge issue that is going to cut big expenses.
I suggest, it does not get any simpler than that in regards to deciding who to put money behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have a truly basic guideline, Ryan. If I do not comprehend something, I put up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).