However scams and little scams. And there's one thing that a scams constantly does: it always goes to no - teeka tiwari review. 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. And that woke something up for me.
And so I can't disregard that. I have actually got to go dig much deeper. glenn beck teeka tiwari." Therefore I started traveling all around the world. I started going to Bitcoin occasions; I started to speaking to people that were smarter than me in this area. And what I understood is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of having the ability to have information that we don't require to have it separately confirmed, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I understood I needed to devote all my expert resources into becoming a specialist in this area.
And do you believe, I imply you mentioned something there about not needing 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 may not even completely understand recognition procedure [inaudible 00:04:11].
We were simply talking about how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and after that suddenly there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks don't possibly understand about these procedures, so they do not possibly see what you're saying as this development, they do not see it in their everyday life? Or what do you consider that? I believe that's true.
It's not as simple as shooting up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You've got to go to an exchange, you've got to upload your identity documents, then you've got to wait to get verified, and after that lastly, you can go buy some Bitcoin.
So, a great deal of individuals discover that too inconvenient, and that's why individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes required to go through a process which just takes 5 minutes if you desire to set up a brokerage account - teeka tiwari glenn beck.
"Oh Teeka, we love your concepts, however gosh, establishing a crypto account is so hard." What I tell them is I state, "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 an enormous quantity of money to go through maybe, you know, 20 minutes of a pain in the neck (undefined). glenn beck teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies directly through your trading software. And can you envision what will take place to this whole market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - glenn beck teeka tiwari - undefined.
Right now 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 great deal of folks who deal with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only buy $500 a week.
As difficult as possible, best, like Coinbase. It 'd take me permanently before I could begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari review). I suggest, it's if you remember the early days of the Web, when we were getting on the Web, 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 remain in the early days of that technology, but much like throughout that time period, for the folks that had the vision to see where the future was going, and then bought in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm constantly curious to speak with individuals who are, especially someone like yourself, who's dedicated the last, you know, the much better part of the last few years to actually go both feet in on this - teeka tiwari 5 coins. How do you explain cryptocurrency to like an average individual? That's a fantastic question.
They're 2 absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what offers it value is that it is, there's only going to be a minimal quantity. There'll never 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 continuously 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 huge right now, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you've 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 saying, "We don't trust fiat money, you can print an unlimited amount of it. It's really not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari wikipedia). Or people that remained in Cypress, or just people who have actually suffered through either hyperinflation, 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 possibly be a catalyst for more adoption, because they currently don't think in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. teeka tiwari next bitcoin. They resemble, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin. But there are billions of individuals on the planet that don't have steady currencies.
Yeah. Therefore there's this whole blossoming international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - glenn beck teeka tiwari. And energy coins are generally used, let's state Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is essentially a global computer that you can write computer programs for and run computer programs on an internationally decentralized computer program.
So we think about something like Ether an energy token, since you're basically buying programming power. So I wouldn't actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to offer individuals a concept, like a very basic one that I would imagine you 'd called an utility token, is like FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's type of this exact same type of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on a lot of various locations and. I do not know the ins and outs of it, however as an example for someone who may simply be very basic in their understanding of this, there are many different types of energies that are readily available.
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 most likely utility based, remedy? Mm-hmm (affirmative). Most of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I believe the real chance lies in the energy coin space.
There's all of these ICOs that were occurring, those slowed down a little 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 produce energy coins- Correct, yeah. And people need to comprehend that not all energy coins are created equivalent - teeka tiwari next bitcoin.
So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can satisfy the creators, you can examine the code, etc. But for an average individual, there's now what, over 1,000 different types of coins offered, practically 1,200 I believe. 'Cause normally it'll crash 80% or so. And that's when we truly start taking a look at the idea in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they resolving an issue that needs to be solved? One of the big downsides with really clever, technical individuals, is that they like to resolve problems that no one cares about solving. teeka tiwari palm beach.
Does the team have experience of carrying out in an effective manner in another area of their life? And it doesn't even have to be directly associated to cryptocurrency, it does not have to be even directly related to software, right? So, but I wish to see a performance history of success in something, right? If it's 4 guys in a room that are simply out of college, unless they have actually got some truly good consultants behind them, I'm most likely not going to provide any money - teeka tiwari.
Yeah. I believe that in marketing in basic, my world of organization, we constantly search for problems and how we can fix them. Now, are the problems things that individuals are trying to solve a part of the Blockchain normally? Or would you say it's much better if they're fixing kind 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 essentially looking for options that, so I'll provide you an example - teeka tiwari palm beach. undefined.
And the factor that we bought it is since they found a method to make documents tamper-proof, and it's 99% less expensive than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a track record of producing computer system programs that entire states run their whole operations on, right? So you've got all right, the wise man has actually constructed huge computer programs, terrific group, resolving a huge problem that is going to cut huge expenses.
I mean, it doesn't get any easier than that in regards to choosing who to put cash behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually simple rule, Ryan. If I don't comprehend something, I installed my hand, and I say, "I didn't comprehend what you just said." Mm-hmm (affirmative).