However scams and little frauds. And there's something that a fraud constantly does: it always goes to zero - glenn beck teeka tiwari. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The massive hack. Which woke something up for me.
Therefore I can't disregard that. I've got to go dig deeper. glenn beck teeka tiwari." Therefore I started taking a trip all around the world. I began going to Bitcoin occasions; I began to talking with people that were smarter than me in this area. And what I understood is that Blockchain technology and the execution of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how huge that is! The ramifications of that, of being able to have information that we don't require to have it individually verified, it's cryptographically validated. That idea can ripple out throughout the whole greater economy. And when that cent dropped, I understood I needed to dedicate all my expert resources into ending up being a professional 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 validate 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 completely understand validation process [inaudible 00:04:11].
We were simply discussing how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you believe that the average folks do not perhaps learn about these procedures, so they don't possibly see what you're saying as this advancement, they do not see it in their everyday life? Or what do you think of that? I believe that's real.
It's not as simple as firing up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You have actually got to go to an exchange, you have actually got to submit your identity files, then you have actually got to wait to get confirmed, and after that lastly, you can go buy some Bitcoin.
So, a great deal of people find that too troublesome, and that's why individuals that are actually making the most amount of cash 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 five minutes if you want to set up a brokerage account - teeka tiwari twitter.
"Oh Teeka, we like your ideas, but gosh, establishing a crypto account is so tough." What I inform them is I state, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The whole cryptocurrency market will be 10x larger. So you're in fact truly making money a huge quantity of money to go through maybe, you know, 20 minutes of a pain in the neck (undefined). teeka tiwari twitter.
So you can't buy Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, prior to you'll be able to buy cryptocurrencies straight through your trading software application. And can you envision what will occur to this entire marketplace when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari review - undefined.
Today you pointed out the process that individuals go through, and one thing I want to expose too that you didn't discuss, however I understand a great deal of folks who battle with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As tough 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 buy $500 a week, Teeka (teeka tiwari 5 coins). I imply, 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 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 indicate, we're in the early days of that innovation, but similar to during that amount of time, for the folks that had the vision to see where the future was going, and after that 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 constantly curious to speak with individuals who are, particularly somebody like yourself, who's committed the last, you know, the much better part of the last couple of years to really go both feet in on this - teeka tiwari. How do you explain cryptocurrency to like a typical person? That's a fantastic question.
They're two completely various things, however 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 gives 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 computers, verifying the deals on the Bitcoin network. And so if you look at that Bitcoin network, individuals continuously try to hack it. However because of the nature of the network, today it's been unhackable. And really, with current technology, the Bitcoin network is so huge today, 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 don't rely on fiat money, you can print a limitless quantity of it. It's truly not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari review). Or people that were in Cypress, or simply people who have suffered through either hyperinflation, 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 potentially be a catalyst for more adoption, because they currently don't think 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 review. They're like, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of individuals in the world that do not have stable currencies.
Yeah. And so there's this entire growing international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari. And energy coins are essentially used, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a global computer that you can write computer programs for and run computer programs on an internationally decentralized computer system program.
So we consider something like Ether an utility token, due to the fact that you're essentially buying shows power. So I would not truly think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to provide individuals a concept, like a very basic one that I would picture you 'd called an utility token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's sort of this exact same type of network result that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on numerous various areas and. I don't understand the ins and outs of it, but as an example for someone who might just be very basic in their understanding of this, there are so many various types of energies that are available.
And you type of discussed having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, however I believe the genuine opportunity depends on the utility coin space.
There's all of these ICOs that were happening, those decreased a little bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And individuals require to understand that not all energy coins are developed equivalent - teeka tiwari palm beach.
So you have the benefit of devoting your occupation to this, so you can head out there and do the recon, you can meet the founders, you can check the code, etc. But for a typical person, there's now what, over 1,000 various types of coins readily available, nearly 1,200 I believe. 'Cause normally it'll crash 80% or so. And that's when we actually begin looking at the concept in more information. So here are some fast and unclean things that you should look at, right? So, one is, are they solving a problem that requires to be fixed? Among the huge disadvantages with really clever, technical individuals, is that they like to resolve problems that no one cares about fixing. teeka tiwari glenn beck.
Does the team have experience of performing in an effective manner in another area of their life? And it doesn't even need to be straight related to cryptocurrency, it doesn't need to be even directly associated to software application, right? So, however I wish to see a track record of success in something, right? If it's four guys in a space that are simply out of college, unless they've got some actually good advisors behind them, I'm probably not going to provide any cash - teeka tiwari glenn beck.
Yeah. I think that in marketing in basic, my world of company, we continuously try to find issues and how we can fix them. Now, are the problems things that people are attempting to solve a part of the Blockchain usually? Or would you say it's much better if they're resolving sort 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 trying to find options that, so I'll offer you an example - teeka tiwari 5 coins. undefined.
And the reason that we bought it is due to the fact that they found a way to make files tamper-proof, and it's 99% less expensive than existing innovation, 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 creating computer programs that whole states run their whole operations on, right? So you've got alright, the clever person has built big computer system programs, great team, resolving a massive problem that is going to cut huge costs.
I mean, it does not get any easier than that in terms of choosing who to put cash behind. And a great deal of this is common sense, and a lot of folks will try to make things more complicated than it is. And I have an actually easy 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).