But scams and small scams. And there's one thing that a fraud always does: it constantly goes to absolutely no - teeka tiwari glenn beck. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. Which woke something up for me.
Therefore I can't overlook that. I've got to go dig deeper. teeka tiwari 5 coins." Therefore I began taking a trip all around the world. I began going to Bitcoin occasions; I started to speaking to people that were smarter than me in this area. And what I realized is that Blockchain technology and the application of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The implications of that, of having the ability to have information that we do not need to have it separately confirmed, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I knew I had to dedicate all my professional resources into ending up being a specialist in this space.
And do you believe, I indicate you mentioned something there about not having to get a third-party, or intermediary to confirm 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 just speaking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and then all of an unexpected there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the typical folks do not maybe understand about these processes, so they do not perhaps see what you're stating as this development, they do not see it in their daily life? Or what do you consider that? I believe 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 have actually got to publish your identity documents, then you have actually got to wait to get confirmed, and after that lastly, you can go buy some Bitcoin.
So, a lot of individuals find that too inconvenient, which's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that are ready to put in maybe the 20 minutes needed to go through a procedure which just takes five minutes if you wish to establish a brokerage account - teeka tiwari glenn beck.
"Oh Teeka, we enjoy your concepts, 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 whole cryptocurrency market will be 10x bigger. So you're actually truly making money an enormous amount of money to go through maybe, you know, 20 minutes of a discomfort in the neck (undefined). teeka tiwari 5 coins.
So you can't buy Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you picture what will happen to this entire market when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari reviews - undefined.
Right now you discussed the procedure that individuals go through, and one thing I desire to expose too that you didn't discuss, however I know a lot of folks who have problem with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just buy $500 a week.
As tough as possible, right, 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 glenn beck). I mean, it's if you keep in mind 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 mean, we remain in the early days of that innovation, but much like throughout that time period, for the folks that had the vision to see where the future was going, and after that purchased in on a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, since I'm always curious to speak to individuals who are, especially someone like yourself, who's devoted the last, you know, the much better part of the last couple of years to actually go both feet in on this - teeka tiwari picks. How do you explain cryptocurrency to like an average individual? That's a great question.
They're two completely various things, however 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. And so what provides it worth is that it is, there's only going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. And so if you take a 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 really, with current 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've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not trust fiat money, you can print an unrestricted quantity of it. It's really not protect, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari picks). Or individuals that were in Cypress, or simply people who have suffered through either devaluation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, since they already don't think in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a difficult time getting their head around. teeka tiwari next bitcoin. They're like, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. However there are billions of people in the world that do not have stable currencies.
Yeah. Therefore there's this whole growing worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari review. And utility coins are essentially utilized, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a worldwide computer 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, due to the fact that you're essentially purchasing programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari glenn beck. And there are other ones out there, to offer people an idea, like a very 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 type 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 many various areas and. I don't know the ins and outs of it, but as an example for someone who may simply be extremely standard in their understanding of this, there are many various kinds of energies that are readily available.
And you kind of mentioned having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine opportunity lies in the utility coin area.
There's all of these ICOs that were taking place, those slowed down a little bit with some modifications to a few things that was going on, however individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And individuals require to comprehend that not all utility coins are produced equivalent - teeka tiwari.
So you have the advantage of committing your profession to this, so you can head out there and do the reconnaissance, you can satisfy the creators, you can inspect the code, etc. However for a typical individual, there's now what, over 1,000 various types of coins readily available, nearly 1,200 I think. 'Cause generally it'll crash 80% or so. And that's when we really begin looking 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 needs to be fixed? Among the huge disadvantages with extremely smart, technical people, is that they like to fix issues that no one appreciates resolving. teeka tiwari palm beach.
Does the group have experience of executing in an effective way in another location of their life? And it doesn't even have to be directly related to cryptocurrency, it does not need to be even straight related to software, right? So, but I wish to see a track record of success in something, right? If it's four men 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 money - teeka tiwari wikipedia.
Yeah. I think that in marketing in basic, my world of company, we constantly try to find problems and how we can fix 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 solving 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 basically trying to find options that, so I'll give you an example - teeka tiwari net worth. undefined.
And the reason that we purchased it is because they discovered a method to make files tamper-proof, and it's 99% less expensive than existing 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 producing computer programs that entire states run their entire operations on, right? So you have actually got fine, the smart man has actually constructed substantial computer programs, great team, resolving a massive problem that is going to cut big expenses.
I imply, it doesn't get any easier than that in regards to deciding who to put money 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 guideline, Ryan. If I do not understand something, I installed my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).