However scams and small frauds. And there's something that a scams constantly does: it constantly goes to no - teeka tiwari 5 coins. 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. Which woke something up for me.
And so I can't ignore that. I've got to go dig deeper. teeka tiwari 5 coins." And so I began traveling all around the world. I began going to Bitcoin occasions; I began to speaking to people that were smarter than me in this area. And what I recognized is that Blockchain technology and the execution of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how massive that is! The ramifications of that, of being able to have information that we do not need to have it individually confirmed, it's cryptographically validated. That idea can ripple out throughout the entire greater economy. And when that cent dropped, I knew I needed to dedicate all my expert resources into ending up being an expert in this space.
And do you think, I suggest 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 reason that this isn't getting as much mass adoption is that a great deal of folks might not even completely understand validation procedure [inaudible 00:04:11].
We were simply talking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and after that all of an abrupt there's other individuals getting informed about it, like the IRS and things like that. Do you think that the typical folks do not possibly understand about these procedures, so they don't perhaps see what you're stating as this development, they don't see it in their everyday life? Or what do you consider that? I think that holds true.
It's not as easy as firing up a web browser and going to e-trade. com and pressing a buy button and buying it, right? You have actually got to go to an exchange, you've got to publish your identity files, then you've got to wait to get validated, and after that lastly, you can go buy some Bitcoin.
So, a lot of people find that too bothersome, which's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes needed to go through a procedure which just takes 5 minutes if you wish to establish a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we like your concepts, however gosh, establishing a crypto account is so difficult." 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 bigger. So you're in fact truly getting paid a massive amount of money to go through perhaps, you understand, 20 minutes of a nuisance (undefined). teeka tiwari.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software application. And can you envision what will take place to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari picks - undefined.
Today you mentioned the process that individuals go through, and one thing I want to expose too that you didn't mention, but I understand a great deal of folks who fight with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, best, like Coinbase. It 'd take me permanently prior to I could begin buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari review). I indicate, 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 mean 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, but simply like throughout that amount 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 speak with individuals who are, especially someone like yourself, who's devoted the last, you understand, the lion's share of the last few years to actually go both feet in on this - teeka tiwari wikipedia. How do you describe cryptocurrency to like a typical individual? That's a great question.
They're two totally different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's just going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the deals on the Bitcoin network. And so if you 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 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 actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't trust paper cash, you can print an unrestricted amount of it. It's actually not protect, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (teeka tiwari reviews). Or people that were in Cypress, or just individuals who have actually suffered through either devaluation, or there's a high demand for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, because they currently don't believe 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 financiers have a difficult time getting their head around. teeka tiwari twitter. They resemble, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. However there are billions of individuals on the planet that do not have stable currencies.
Yeah. Therefore there's this whole growing global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari palm beach. And energy coins are essentially utilized, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a global computer that you can write computer programs for and run computer system programs on a worldwide decentralized computer system program.
So we think about something like Ether an energy token, because you're essentially purchasing programs power. So I wouldn't 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 provide people an idea, like an extremely simple one that I would picture you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's sort of this exact same type of network effect that you have with Bitcoin, where it's like unstoppable example, since it's on many different locations and. I do not know the ins and outs of it, but as an example for someone who might just be really fundamental in their understanding of this, there are numerous different kinds of utilities that are offered.
And you kind of mentioned having this boots on the ground experience. Now, because we're taking a look at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, but I believe the genuine opportunity depends on the energy coin area.
There's all of these ICOs that were happening, those decreased a bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and start to develop energy coins- Correct, yeah. And people need to understand that not all energy coins are developed equivalent - teeka tiwari wikipedia.
So you have the benefit of devoting your profession to this, so you can go out there and do the reconnaissance, you can satisfy the creators, you can inspect the code, etc. However for an average individual, there's now what, over 1,000 different kinds of coins readily available, nearly 1,200 I think. 'Cause generally it'll crash 80% or so. And that's when we actually begin looking at the concept in more detail. So here are some quick and filthy things that you should take a look at, right? So, one is, are they fixing an issue that needs to be fixed? Among the big disadvantages with really wise, technical individuals, is that they like to solve issues that nobody appreciates solving. teeka tiwari next bitcoin.
Does the group have experience of executing in an effective manner in another area of their life? And it doesn't even have to be straight related to cryptocurrency, it does not 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 4 guys in a room that are simply out of college, unless they've got some truly excellent advisors behind them, I'm probably not going to provide any money - teeka tiwari net worth.
Yeah. I believe that in marketing in general, my world of service, we constantly try to find issues and how we can resolve them. Now, are the issues things that individuals are trying to solve a part of the Blockchain generally? Or would you say it's much better if they're solving 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 searching for options that, so I'll offer you an example - teeka tiwari review. undefined.
And the reason that we bought it is because they discovered a method to make files tamper-proof, and it's 99% cheaper 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 producing computer programs that entire states run their whole operations on, right? So you have actually got fine, the wise person has constructed substantial computer programs, excellent team, resolving an enormous problem that is going to cut huge expenses.
I indicate, it doesn't get any easier than that in terms of deciding who to put cash behind. And a lot of this prevails sense, and a great deal of folks will try to make things more complicated than it is. And I have a truly basic rule, Ryan. If I do not understand something, I put up my hand, and I say, "I didn't comprehend what you just said." Mm-hmm (affirmative).