But scams and small frauds. And there's one thing that a scams always does: it constantly goes to absolutely no - teeka tiwari review. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. And that woke something up for me.
And so I can't overlook that. I have actually got to go dig deeper. teeka tiwari glenn beck." Therefore I started traveling all around the world. I began going to Bitcoin events; I began to speaking with people that were smarter than me in this area. And what I realized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how massive that is! The implications of that, of having the ability to have information that we do not need to have it separately 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 devote all my professional resources into becoming a specialist in this space.
And do you believe, I imply you pointed out 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 great deal of folks might not even completely comprehend recognition procedure [inaudible 00:04:11].
We were just speaking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you believe that the typical folks do not perhaps know about these processes, so they don't possibly see what you're saying as this breakthrough, they don't see it in their daily life? Or what do you believe about 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 pressing a buy button and purchasing it, right? You've got to go to an exchange, you've got to submit your identity documents, then you've got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a great deal of people find that too bothersome, which's why the people that are literally making the most amount of money right now in cryptocurrencies are the early adopters: people that are willing to put in maybe the 20 minutes required to go through a procedure which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we enjoy your concepts, but gosh, setting up a crypto account is so hard." What I tell them is I say, "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 bigger. So you're actually truly getting paid a huge amount of money to go through possibly, you understand, 20 minutes of a nuisance (undefined). teeka tiwari net worth.
So you can't buy Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you envision what will happen to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting 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, but I know a lot 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 difficult as possible, best, like Coinbase. It 'd take me forever before I could begin buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari). I mean, it's if you remember the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I indicate 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 suggest, we're in the early days of that innovation, but simply like during that time period, for the folks that had the vision to see where the future was going, and after that bought in on some of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm constantly curious to speak to people who are, specifically someone like yourself, who's devoted the last, you understand, the lion's share of the last couple of years to actually go both feet in on this - glenn beck teeka tiwari. How do you describe cryptocurrency to like a typical individual? That's a fantastic question.
They're 2 completely various things, but 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. Therefore what provides it value is that it is, there's just going to be a minimal quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, people continuously attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And really, with existing innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
Therefore when people put, you've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not trust fiat money, you can print an endless amount of it. It's actually not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari wikipedia). Or individuals that remained in Cypress, or just individuals who have actually suffered through either devaluation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, since they already don't believe in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a great deal of American or Western investors have a tough time getting their head around. teeka tiwari. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin. However there are billions of individuals in the world that do not have stable currencies.
Yeah. Therefore there's this entire burgeoning international need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari. And energy coins are essentially used, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is basically a global computer 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 utility token, since you're basically purchasing programs power. So I wouldn't truly think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to give individuals an idea, like a really easy one that I would picture you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's kind of this very same kind of network effect that you have with Bitcoin, where it's like unstoppable example, since it's on many different locations and. I do not know the ins and outs of it, however as an example for somebody who may simply be very fundamental in their understanding of this, there are a lot of various types of energies that are readily available.
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, correct? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I think 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, but individuals are going to come out of the woodwork and start to create utility coins- Correct, yeah. And individuals need to comprehend that not all utility coins are produced equivalent - teeka tiwari reviews.
So you have the advantage of committing your profession to this, so you can go out there and do the reconnaissance, you can meet the founders, you can check the code, etc. However for an average person, there's now what, over 1,000 various types of coins available, practically 1,200 I believe. 'Cause normally it'll crash 80% or so. Which's when we truly begin taking a look at the concept in more information. So here are some quick and filthy things that you should take a look at, right? So, one is, are they fixing a problem that requires to be resolved? One of the big downsides with extremely wise, technical individuals, is that they like to resolve issues that nobody cares about fixing. teeka tiwari palm beach.
Does the group have experience of performing in an effective way in another location of their life? And it does not even have to be straight associated to cryptocurrency, it does not have to be even straight related to software, right? So, however I desire to see a track record of success in something, right? If it's 4 men in a space that are just out of college, unless they've got some really good consultants behind them, I'm most likely not going to provide any money - teeka tiwari palm beach.
Yeah. I believe that in marketing in general, my world of service, we continuously look for problems and how we can solve them. Now, are the problems things that individuals are attempting to fix a part of the Blockchain normally? Or would you say it's much better if they're resolving 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 options that, so I'll offer you an example - teeka tiwari next bitcoin. 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% more affordable than existing technology, 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 track record of developing computer programs that whole states run their whole operations on, right? So you have actually got alright, the wise guy has built big computer system programs, great group, fixing an enormous issue that is going to cut big expenses.
I suggest, it doesn't get any simpler than that in regards to deciding 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 a truly simple guideline, Ryan. If I don't comprehend something, I set up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).