However frauds and little scams. And there's one thing that a fraud constantly does: it constantly goes to no - teeka tiwari twitter. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The enormous hack. And that woke something up for me.
And so I can't neglect that. I have actually got to go dig deeper. teeka tiwari wikipedia." Therefore I began taking a trip all around the world. I began going to Bitcoin events; I started to talking to people that were smarter than me in this space. 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 enormous that is! The implications of that, of having the ability to have information that we do not require to have it independently validated, it's cryptographically confirmed. That idea can ripple out throughout the whole greater economy. And when that penny dropped, I understood I needed to commit all my professional resources into becoming a specialist in this area.
And do you believe, I indicate you discussed 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 lot of folks might not even fully comprehend validation procedure [inaudible 00:04:11].
We were just 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 notified about it, like the Internal Revenue Service and things like that. Do you think that the average folks don't perhaps learn about these procedures, so they do not maybe see what you're stating as this development, they do not see it in their everyday life? Or what do you believe about that? I think that's real.
It's not as simple as shooting up a web internet 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 publish your identity documents, then you have actually got to wait to get validated, and after that finally, you can go purchase some Bitcoin.
So, a lot of people discover that too bothersome, and that's why the people that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: individuals that are ready to put in possibly the 20 minutes required to go through a procedure which just takes five minutes if you wish to establish a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so difficult." 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 entire cryptocurrency market will be 10x bigger. So you're actually truly making money a huge quantity of money to go through perhaps, you understand, 20 minutes of a discomfort in the neck (undefined). teeka tiwari review.
So you can't purchase Bitcoin yet through their trading platform, however it is just a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you picture what will take place to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari wikipedia - undefined.
Today you discussed the process that people go through, and something I wish to expose too that you didn't mention, but I understand a great deal of folks who battle with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can only buy $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me permanently prior to I could begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari 5 coins). I mean, it's if you keep in mind the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I indicate 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 suggest, we're in the early days of that technology, however simply like during that time period, 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 a step back for a second, due to the fact that I'm always curious to speak with people who are, particularly somebody like yourself, who's dedicated the last, you understand, the better part of the last couple of years to really go both feet in on this - teeka tiwari twitter. How do you describe cryptocurrency to like a typical individual? That's an excellent concern.
They're two absolutely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it value is that it is, there's just going to be a restricted quantity. 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. Therefore if you take a look at that Bitcoin network, individuals constantly attempt to hack it. But since of the nature of the network, today it's been unhackable. And actually, with current technology, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not rely on paper cash, you can print an unlimited amount 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 wikipedia). Or people that were in Cypress, or just individuals who have suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, because they already don't believe in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a hard time getting their head around. teeka tiwari wikipedia. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin. But there are billions of people on the planet that don't have steady currencies.
Yeah. Therefore there's this entire blossoming global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari picks. And utility coins are basically used, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically a global computer system that you can write computer programs for and run computer system programs on an internationally decentralized computer program.
So we consider something like Ether an energy token, because you're essentially purchasing programs power. So I wouldn't really consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari picks. And there are other ones out there, to offer individuals a concept, like a very easy one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's kind of this same type of network impact that you have with Bitcoin, where it's like unstoppable example, because it's on a lot of various areas and. I do not know the ins and outs of it, but as an example for someone who might simply be really standard in their understanding of this, there are numerous different kinds of energies that are readily available.
And you type of pointed out having this boots on the ground experience. Now, because we're taking a look at the bulk of these are probably energy based, fix? Mm-hmm (affirmative). The majority of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I believe the genuine opportunity lies in the utility coin area.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a few 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 created equal - teeka tiwari wikipedia.
So you have the advantage of devoting your occupation to this, so you can head out there and do the reconnaissance, you can meet the creators, you can examine the code, etc. But for an average person, there's now what, over 1,000 different types of coins available, almost 1,200 I think. 'Cause usually it'll crash 80% approximately. Which's when we truly begin looking at the concept in more information. So here are some fast and dirty things that you should look at, right? So, one is, are they solving a problem that needs to be resolved? One of the big drawbacks with really wise, technical people, is that they like to resolve issues that nobody cares about fixing. teeka tiwari palm beach.
Does the group have experience of carrying out in a successful manner in another location of their life? And it doesn't even need to be straight related to cryptocurrency, it does not have to be even straight related to software application, right? So, however I wish to see a performance history of success in something, right? If it's four people in a room that are simply out of college, unless they have actually got some really excellent consultants behind them, I'm probably not going to provide them any cash - teeka tiwari next bitcoin.
Yeah. I think that in marketing in general, my world of service, we constantly try to find issues and how we can solve them. Now, are the problems things that individuals are trying to solve a part of the Blockchain usually? Or would you say it's better if they're solving sort 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 looking for options that, so I'll offer you an example - teeka tiwari palm beach. undefined.
And the reason that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% cheaper than present innovation, 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 performance history of developing computer programs that whole states run their entire operations on, right? So you've got okay, the clever man has built huge computer programs, excellent team, solving a massive issue that is going to cut huge costs.
I indicate, it does not get any simpler than that in regards to choosing who to put cash behind. And a great deal of this prevails sense, and a great deal of folks will try to make things more complex than it is. And I have a really simple guideline, Ryan. If I don't comprehend something, I installed my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).