But scams and little scams. And there's one thing that a scams always does: it always goes to zero - teeka tiwari 5 coins. 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 have actually got to go dig much deeper. teeka tiwari review." And so I began traveling all around the world. I started going to Bitcoin occasions; I began to speaking to individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how massive 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 entire higher economy. And when that cent dropped, I knew I needed to devote all my professional resources into becoming a professional in this space.
And do you think, I suggest you pointed out something there about not needing to get a third-party, or intermediary to verify something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a great deal of folks may not even totally comprehend validation process [inaudible 00:04:11].
We were simply speaking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and then all of an unexpected there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not maybe understand about these processes, so they don't maybe 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 think that holds true.
It's not as simple as firing up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You have actually got to go to an exchange, you have actually got to publish your identity documents, then you've got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a lot of individuals find that too bothersome, and that's why individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that are willing to put in possibly the 20 minutes required to go through a process which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari next bitcoin.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so challenging." 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 entire cryptocurrency market will be 10x larger. So you're in fact really making money a huge amount of money to go through perhaps, you understand, 20 minutes of a nuisance (undefined). teeka tiwari review.
So you can't purchase Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software. And can you picture what will take place to this entire market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari net worth - undefined.
Today you discussed the process that individuals go through, and something I desire to bring to light too that you didn't mention, however I know a great deal of folks who fight with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can only purchase $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me forever prior to I might begin purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari). I suggest, 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 suggest it would take 20 minutes to pack 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 innovation, however simply like throughout that amount of time, for the folks that had the vision to see where the future was going, and then purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to talk with individuals who are, specifically somebody like yourself, who's dedicated the last, you understand, the bulk of the last few years to actually go both feet in on this - glenn beck teeka tiwari. How do you explain cryptocurrency to like an average individual? That's an excellent concern.
They're two totally different things, however 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 provides it worth 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, validating the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people constantly try to hack it. However since of the nature of the network, today it's been unhackable. And actually, with current technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
Therefore when people put, you've got people 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 don't trust paper money, you can print a limitless quantity of it. It's actually not protect, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go on.
Yeah (teeka tiwari wikipedia). Or individuals 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 currently 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 twitter. They're like, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin. But there are billions of people in the world that do not have stable currencies.
Yeah. Therefore there's this whole burgeoning worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari review. And utility coins are generally utilized, let's state Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically a global computer system that you can compose computer system programs for and run computer programs on a globally decentralized computer system program.
So we think about something like Ether an utility token, due to the fact that you're essentially purchasing shows power. So I wouldn't really think about 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 a really basic one that I would picture you 'd called an energy token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's sort of this same type of network impact that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on a lot of different areas and. I do not know the ins and outs of it, however as an example for somebody who might simply be really fundamental in their understanding of this, there are so lots of different types of utilities that are offered.
And you type of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I believe the genuine opportunity depends on the utility coin area.
There's all of these ICOs that were occurring, those slowed down a 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 create energy coins- Correct, yeah. And people require to comprehend that not all energy coins are created equal - teeka tiwari picks.
So you have the advantage of devoting your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the founders, you can check the code, etc. But for a typical person, there's now what, over 1,000 different types of coins available, practically 1,200 I believe. 'Cause usually it'll crash 80% or so. Which's when we really start looking at the concept in more detail. So here are some quick and dirty things that you should look at, right? So, one is, are they solving an issue that needs to be resolved? Among the big drawbacks with extremely wise, technical individuals, is that they like to fix issues that no one cares about solving. teeka tiwari twitter.
Does the group have experience of carrying out in a successful manner in another location of their life? And it does not even need to be straight related to cryptocurrency, it doesn't need to be even straight associated to software, right? So, but I want to see a performance history of success in something, right? If it's four people in a space that are simply out of college, unless they have actually got some actually great consultants behind them, I'm most likely not going to provide any money - glenn beck teeka tiwari.
Yeah. I think that in marketing in general, my world of business, we constantly look for problems and how we can resolve them. Now, are the issues things that people are attempting to solve a part of the Blockchain typically? Or would you say it's much 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 looking for options that, so I'll offer you an example - teeka tiwari picks. undefined.
And the factor that we bought it is because they discovered a method to make files tamper-proof, and it's 99% more affordable than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a track record of producing computer system programs that entire states run their entire operations on, right? So you have actually got all right, the smart guy has built substantial computer system programs, excellent group, fixing an enormous problem that is going to cut huge costs.
I mean, it does not get any simpler than that in regards to deciding who to put cash behind. And a lot of this prevails sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a really easy guideline, Ryan. If I do not understand something, I set up my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).