But frauds and little frauds. And there's one thing that a fraud always does: it constantly goes to absolutely no - teeka tiwari palm beach. But 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. Which woke something up for me.
And so I can't overlook that. I've got to go dig deeper. teeka tiwari wikipedia." Therefore I started traveling all around the world. I started going to Bitcoin events; I started to speaking to people that were smarter than me in this space. And what I understood 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 enormous that is! The ramifications of that, of having the ability to have information that we don't require to have it separately validated, it's cryptographically verified. That concept can ripple out throughout the whole greater economy. And when that penny dropped, I knew I had to commit all my professional resources into ending up being a specialist in this area.
And do you believe, I suggest you pointed out something there about not needing 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 may not even totally understand validation procedure [inaudible 00:04:11].
We were simply discussing how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and after that 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 possibly understand about these procedures, so they don't perhaps see what you're saying as this development, they don't see it in their daily life? Or what do you think about that? I believe that's real.
It's not as easy 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've got to upload your identity documents, then you've got to wait to get confirmed, and after that finally, you can go buy some Bitcoin.
So, a lot of people find that too inconvenient, which's why the people that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes needed to go through a procedure which just takes 5 minutes if you wish to establish a brokerage account - teeka tiwari next bitcoin.
"Oh Teeka, we like your concepts, however gosh, establishing a crypto account is so difficult." 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 in fact really getting paid an enormous amount of cash to go through perhaps, you know, 20 minutes of a pain in the neck (undefined). teeka tiwari reviews.
So you can't purchase Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, prior to you'll be able to buy cryptocurrencies straight through your trading software. And can you picture what will occur 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 next bitcoin - undefined.
Right now you discussed the procedure that people go through, and something I want to expose too that you didn't point out, but I understand a great deal of folks who battle with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently prior to I might start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari review). I imply, 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 imply 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 remain in the early days of that innovation, however just 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 business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm always curious to talk to individuals who are, particularly somebody 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 - teeka tiwari twitter. How do you describe cryptocurrency to like a typical individual? That's an excellent question.
They're two absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what provides it value is that it is, there's only going to be a minimal quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, people constantly try to hack it. But since of the nature of the network, today it's been unhackable. And actually, with current 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 people who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't rely on fiat money, you can print an unrestricted quantity of it. It's actually not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari twitter). Or people that remained in Cypress, or just individuals who have actually suffered through either devaluation, 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 possibly be a driver for more adoption, because they already don't believe 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 difficult time getting their head around. teeka tiwari wikipedia. They're like, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin. But there are billions of individuals worldwide that don't have stable currencies.
Yeah. Therefore there's this entire growing worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari palm beach. And utility coins are basically utilized, let's state Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically a worldwide computer that you can write computer programs for and run computer system programs on an internationally decentralized computer program.
So we think about something like Ether an utility token, due to the fact that you're basically purchasing shows power. So I would not actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari net worth. And there are other ones out there, to offer individuals a concept, like a really basic one that I would envision 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 kind of network impact that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on so lots of various areas and. I do not understand the ins and outs of it, however as an example for somebody who may simply be really fundamental in their understanding of this, there are many various types of energies that are offered.
And you type of pointed out having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). Many of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, however I believe the genuine opportunity depends on the energy coin area.
There's all of these ICOs that were happening, those decreased a bit with some changes to a few things that was going on, but people are going to come out of the woodwork and start to create energy coins- Correct, yeah. And individuals need to comprehend that not all utility coins are produced equal - teeka tiwari reviews.
So you have the advantage of devoting your occupation 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 a typical person, there's now what, over 1,000 different kinds of coins offered, practically 1,200 I believe. 'Cause typically it'll crash 80% or so. Which's when we truly begin looking at the concept in more information. So here are some fast and filthy things that you should look at, right? So, one is, are they solving an issue that needs to be solved? Among the big drawbacks with really smart, technical individuals, is that they like to solve problems that nobody cares about fixing. teeka tiwari palm beach.
Does the team have experience of performing in an effective manner in another area of their life? And it doesn't even need to be directly related to cryptocurrency, it doesn't have to be even straight associated to software application, right? So, but I desire to see a performance history of success in something, right? If it's 4 guys in a room that are simply out of college, unless they've got some truly good consultants behind them, I'm probably not going to offer them any money - teeka tiwari review.
Yeah. I believe that in marketing in general, my world of service, we constantly search for problems and how we can resolve them. Now, are the problems things that individuals are trying to fix a part of the Blockchain typically? Or would you state it's much better if they're resolving 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 essentially looking for options that, so I'll offer you an example - teeka tiwari. undefined.
And the factor that we purchased it is due to the fact that they discovered a method to make documents tamper-proof, and it's 99% less expensive than current technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that started it has a track record of producing computer programs that whole states run their whole operations on, right? So you've got okay, the clever guy has developed huge computer programs, fantastic team, resolving a massive problem that is going to cut big expenses.
I imply, it does not get any simpler than that in regards to deciding who to put money behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have a really basic rule, Ryan. If I do not understand something, I installed my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).