However scams and little frauds. And there's something that a scams always does: it always goes to zero - teeka tiwari glenn beck. 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 huge hack. And that woke something up for me.
Therefore I can't overlook that. I've got to go dig much deeper. teeka tiwari reviews." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I started to talking with people that were smarter than me in this space. And what I recognized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of having the ability to have information that we do not require to have it separately validated, it's cryptographically verified. That idea can ripple out throughout the entire greater economy. And when that cent dropped, I knew I had to commit all my expert resources into becoming an expert in this area.
And do you think, I imply 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 factor that this isn't getting as much mass adoption is that a great deal of folks may not even completely comprehend validation process [inaudible 00:04:11].
We were just speaking about how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and then suddenly there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the typical folks don't maybe understand about these processes, so they don't maybe see what you're stating as this breakthrough, they do not see it in their everyday life? Or what do you believe about that? I believe that holds true.
It's not as simple as shooting up a web internet browser and going to e-trade. com and pressing a buy button and buying it, right? You've got to go to an exchange, you've got to upload your identity files, then you have actually got to wait to get verified, and then finally, you can go purchase some Bitcoin.
So, a great deal of individuals discover that too bothersome, and that's why the individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals that are ready to put in maybe the 20 minutes required to go through a process which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari reviews.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so difficult." What I tell them is I say, "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 truly getting paid a huge quantity of cash to go through perhaps, you understand, 20 minutes of a pain in the neck (undefined). teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you imagine what will occur to this whole market when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari wikipedia - undefined.
Today you mentioned the process that individuals go through, and one thing I wish to expose too that you didn't point out, however I know a lot of folks who battle with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just buy $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me forever before I might start buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari wikipedia). I mean, it's if you remember the early days of the Internet, 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 imply, we're in the early days of that technology, however simply 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 companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm always curious to talk with people who are, particularly somebody like yourself, who's committed the last, you know, the lion's share of the last few years to actually go both feet in on this - teeka tiwari picks. How do you explain 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 trying to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it worth is that it is, there's just going to be a minimal amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, people constantly try to hack it. However due to the fact that 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 individuals put, you have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not trust fiat money, you can print an unlimited quantity of it. It's actually not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari reviews). Or people that were in Cypress, or just people who have suffered through either run-away inflation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a catalyst for more adoption, due to the fact that they currently don't think in their own currency? Yeah, and I think we have actually already 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 5 coins. They resemble, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin. However there are billions of people on the planet that don't have steady currencies.
Yeah. And so there's this whole burgeoning global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari 5 coins. And utility coins are generally used, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically an international computer system that you can write computer system programs for and run computer programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, due to the fact that you're essentially purchasing programs power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari reviews. And there are other ones out there, to give people 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 essentially you're hosting files through a peer-based network, and there's sort 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 so numerous different areas and. I don't know the ins and outs of it, however as an example for somebody who may just be extremely basic in their understanding of this, there are so many various kinds of utilities that are readily available.
And you sort of pointed out having this boots on the ground experience. Now, since we're taking a look at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I think the real opportunity lies in the energy coin area.
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 start to develop utility coins- Correct, yeah. And people require to understand that not all utility coins are developed equivalent - teeka tiwari reviews.
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 creators, you can inspect the code, and so on. But for a typical individual, there's now what, over 1,000 different kinds of coins available, nearly 1,200 I believe. 'Cause generally it'll crash 80% or so. Which's when we really begin taking a look at the idea in more detail. So here are some quick and dirty things that you should take a look at, right? So, one is, are they solving an issue that requires to be resolved? One of the big drawbacks with really wise, technical people, is that they like to resolve problems that no one cares about resolving. glenn beck teeka tiwari.
Does the team have experience of carrying out in a successful manner in another location of their life? And it doesn't even have to be directly related to cryptocurrency, it doesn't need to be even straight related to software application, right? So, but I wish to see a track record of success in something, right? If it's four guys in a room that are just out of college, unless they've got some actually good advisors behind them, I'm probably not going to provide them any money - teeka tiwari reviews.
Yeah. I believe that in marketing in basic, my world of service, we continuously try to find issues and how we can solve them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain usually? Or would you say it's better if they're fixing type 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 generally trying to find services that, so I'll give you an example - teeka tiwari picks. undefined.
And the reason that we purchased it is due to the fact that they discovered 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 after that on top of that, the person that began it has a performance history of creating computer programs that whole states run their entire operations on, right? So you've got alright, the clever man has actually developed huge computer system programs, excellent group, fixing an enormous issue that is going to cut substantial costs.
I indicate, it does not get any easier than that in regards to choosing who to put money behind. And a lot of this is typical sense, and a great deal of folks will try to make things more complex than it is. And I have a really simple rule, Ryan. If I do not understand something, I put up my hand, and I say, "I didn't comprehend what you just stated." Mm-hmm (affirmative).