But scams and little frauds. And there's something that a scams constantly does: it constantly goes to zero - teeka tiwari 5 coins. 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.
Therefore I can't disregard that. I have actually got to go dig deeper. teeka tiwari picks." And so I began traveling all around the world. I began going to Bitcoin events; I started to speaking with people that were smarter than me in this space. And what I realized 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 having the ability to have information that we don't need to have it individually verified, it's cryptographically verified. That principle can ripple out throughout the entire greater economy. And when that cent dropped, I knew I had to commit all my expert resources into becoming a specialist in this area.
And do you believe, I mean you discussed something there about not having to get a third-party, or intermediary to confirm 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 recognition process [inaudible 00:04:11].
We were just talking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then all of an abrupt there's other people getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks don't maybe learn about these procedures, so they don't maybe see what you're stating as this breakthrough, they don't see it in their daily life? Or what do you think of that? I believe that holds true.
It's not as easy as firing up a web 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've got to upload your identity files, then you have actually got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a lot of individuals discover that too bothersome, which's why individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: individuals that want to put in maybe the 20 minutes required to go through a process which simply takes 5 minutes if you want to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we enjoy your concepts, however gosh, establishing a crypto account is so tough." What I tell them is I say, "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 larger. So you're actually truly making money an enormous amount of cash to go through maybe, you understand, 20 minutes of a discomfort in the neck (undefined). teeka tiwari.
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 buy cryptocurrencies straight through your trading software. And can you picture what will happen to this entire market when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Right now you pointed out the procedure that people go through, and one thing I want to bring to light too that you didn't discuss, however I know a lot of folks who have problem with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me forever prior to I might 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 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 mean it would take 20 minutes to load a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I mean, we remain in the early days of that technology, however simply like throughout that period of time, for the folks that had the vision to see where the future was going, and after that bought in on some 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 people who are, specifically someone like yourself, who's dedicated the last, you understand, the bulk of the last couple of years to truly go both feet in on this - glenn beck teeka tiwari. How do you explain cryptocurrency to like a typical individual? That's a terrific concern.
They're 2 absolutely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. And so what offers it value is that it is, there's only going to be a limited quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals continuously try to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And actually, with present 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 since they're saying, "We do not rely on fiat money, you can print a limitless quantity of it. It's actually not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go on.
Yeah (teeka tiwari). Or people that were in Cypress, or just people who have suffered through either devaluation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a catalyst for more adoption, because they currently don't think in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a bumpy ride getting their head around. teeka tiwari glenn beck. They're like, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. However there are billions of individuals on the planet that don't have stable currencies.
Yeah. And so there's this whole growing international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari picks. And utility coins are generally utilized, let's say Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is essentially a worldwide computer system that you can compose computer programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, due to the fact that you're basically buying shows power. So I wouldn't actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to offer individuals an idea, like a very simple one that I would picture 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 exact same kind of network result that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on a lot of various areas and. I don't understand the ins and outs of it, however as an example for somebody who might simply be very fundamental in their understanding of this, there are a lot of various kinds of energies that are available.
And you type of discussed having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). Most of the coins that I suggest and take a look at are utility-based. We have a few cryptocurrencies, but I believe the real chance lies in the utility coin area.
There's all of these ICOs that were happening, those decreased a bit with some changes 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 require to understand that not all energy coins are developed equal - teeka tiwari palm beach.
So you have the advantage of devoting your profession to this, so you can head out there and do the reconnaissance, you can satisfy the creators, you can examine the code, and so on. But for a typical individual, there's now what, over 1,000 different kinds of coins readily available, almost 1,200 I think. 'Cause usually it'll crash 80% or two. Which's when we actually begin looking at the idea in more information. So here are some fast and filthy things that you should take a look at, right? So, one is, are they resolving an issue that needs to be solved? One of the big drawbacks with extremely wise, technical individuals, is that they like to resolve issues that no one cares about fixing. glenn beck teeka tiwari.
Does the team have experience of carrying out in a successful way in another area of their life? And it does not even need to be directly associated to cryptocurrency, it does not have to be even straight associated to software, right? So, however I want to see a track record of success in something, right? If it's four people in a room that are just out of college, unless they have actually got some actually great consultants behind them, I'm probably not going to give them any cash - teeka tiwari net worth.
Yeah. I think that in marketing in basic, my world of company, we constantly search for problems and how we can fix them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain usually? Or would you say it's better if they're solving 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 basically looking for options that, so I'll provide you an example - teeka tiwari. undefined.
And the reason that we purchased it is because they found a method to make files tamper-proof, and it's 99% less expensive than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that started it has a performance history of producing computer system programs that whole states run their entire operations on, right? So you've got fine, the wise guy has actually constructed huge computer programs, fantastic group, resolving a huge issue that is going to cut huge costs.
I indicate, it does not get any simpler than that in terms of choosing who to put cash 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 an actually basic rule, Ryan. If I don't comprehend something, I set up my hand, and I say, "I didn't understand what you simply said." Mm-hmm (affirmative).