But frauds and small frauds. And there's something that a scams constantly does: it always goes to no - glenn beck teeka tiwari. But 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 ignore that. I've got to go dig much deeper. teeka tiwari net worth." And so I began traveling all around the world. I started going to Bitcoin occasions; I started to speaking to individuals that were smarter than me in this area. And what I understood is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of being able to have information that we do not need to have it separately confirmed, it's cryptographically validated. That idea can ripple out throughout the whole higher economy. And when that penny dropped, I understood I needed to dedicate all my expert resources into becoming a professional in this space.
And do you believe, I imply you discussed something there about not having 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 might not even fully understand recognition procedure [inaudible 00:04:11].
We were just discussing how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and after that suddenly there's other people getting notified about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not possibly understand about these procedures, so they don't perhaps see what you're saying as this development, they do not see it in their everyday life? Or what do you think of that? I believe that's true.
It's not as easy as firing up a web internet 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 have actually got to submit your identity documents, then you have actually got to wait to get confirmed, and then finally, you can go buy some Bitcoin.
So, a great deal of people find that too inconvenient, which's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: individuals that are willing to put in possibly the 20 minutes needed to go through a procedure which simply takes 5 minutes if you desire to establish a brokerage account - teeka tiwari 5 coins.
"Oh Teeka, we love your ideas, however gosh, establishing a crypto account is so tough." What I tell them is I state, "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 perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari palm beach.
So you can't buy Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, prior to you'll be able to purchase cryptocurrencies directly through your trading software. And can you imagine what will take place to this entire market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Right now you discussed the process that people 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 struggle with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just buy $500 a week.
As hard as possible, best, like Coinbase. It 'd take me forever before I could start purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari). 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 suggest 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 much like throughout that time period, 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 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 talk with individuals who are, particularly somebody like yourself, who's dedicated the last, you know, the lion's share of the last few years to truly go both feet in on this - teeka tiwari next bitcoin. How do you describe cryptocurrency to like a typical individual? That's a fantastic question.
They're two totally various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to cash. So Bitcoin would be a cryptocurrency. And so what gives it value is that it is, there's only going to be a minimal amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the deals on the Bitcoin network. And so if you look at that Bitcoin network, people constantly attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, with current technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We do not rely on paper 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, ideal [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari net worth). Or people that remained in Cypress, or just people who have actually suffered through either run-away inflation, or there's a high need for, in Argentina for instance, 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 think we have actually already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a difficult time getting their head around. teeka tiwari net worth. They resemble, "Well I do not require 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 on the planet that don't have steady currencies.
Yeah. And so there's this entire burgeoning international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari wikipedia. And utility coins are generally utilized, let's say Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically a global computer that you can write computer programs for and run computer programs on an internationally decentralized computer program.
So we consider something like Ether an energy token, because you're basically buying programming power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to offer people a concept, like a very easy 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 kind of this same kind of network impact that you have with Bitcoin, where it's like unstoppable example, because it's on many various locations and. I don't know the ins and outs of it, but as an example for somebody who may just be extremely standard in their understanding of this, there are many various types of energies that are offered.
And you kind of discussed having this boots on the ground experience. Now, because 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 take a look at are utility-based. We have a few cryptocurrencies, but I believe the genuine opportunity depends on the utility coin space.
There's all of these ICOs that were taking place, 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 start to develop utility coins- Correct, yeah. And individuals need to understand that not all energy coins are created equal - glenn beck teeka tiwari.
So you have the benefit of devoting your occupation to this, so you can go out there and do the recon, you can satisfy the founders, you can check the code, and so on. However for an average person, there's now what, over 1,000 different types of coins readily available, practically 1,200 I believe. 'Cause normally it'll crash 80% or so. Which's when we really begin taking a look at the idea in more detail. So here are some fast and filthy things that you should take a look at, right? So, one is, are they solving a problem that requires to be fixed? One of the big drawbacks with very smart, technical people, is that they like to fix problems that nobody cares about resolving. teeka tiwari.
Does the group have experience of performing in an effective manner in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't need to be even straight associated 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 truly great consultants behind them, I'm most likely not going to provide any cash - teeka tiwari review.
Yeah. I believe that in marketing in basic, my world of business, we continuously search for problems and how we can fix them. Now, are the problems things that people are attempting to resolve a part of the Blockchain generally? Or would you state it's better if they're fixing kind 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 solutions that, so I'll give you an example - teeka tiwari next bitcoin. undefined.
And the factor that we purchased it is since they discovered a way to make documents tamper-proof, and it's 99% less expensive than existing 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 track record of producing computer system programs that entire states run their entire operations on, right? So you have actually got all right, the clever guy has built huge computer system programs, fantastic team, solving an enormous problem that is going to cut huge expenses.
I suggest, it doesn't get any simpler than that in regards to choosing who to put money behind. And a lot of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have a truly simple rule, Ryan. If I don't understand something, I set up my hand, and I say, "I didn't comprehend what you just said." Mm-hmm (affirmative).