But frauds and small scams. And there's something that a fraud constantly does: it always goes to no - 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 huge hack. Which woke something up for me.
And so I can't overlook that. I have actually got to go dig much deeper. teeka tiwari review." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I began to speaking to people that were smarter than me in this area. And what I recognized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The implications of that, of having the ability to have data that we don't require to have it individually confirmed, it's cryptographically confirmed. That concept can ripple out throughout the entire greater economy. And when that cent dropped, I understood I needed to devote all my expert resources into becoming a specialist in this space.
And do you believe, I mean you mentioned 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 discussing how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and then all of an abrupt there's other people getting informed about it, like the Internal Revenue Service and things like that. Do you believe that the average folks do not possibly learn about these processes, so they do not maybe see what you're stating as this advancement, they don't see it in their daily life? Or what do you think of that? I believe that's real.
It's not as simple as shooting up a web 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 have actually got to upload your identity files, then you've got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a great deal of individuals find that too troublesome, and that's why the people that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that are prepared to put in possibly the 20 minutes needed to go through a process which simply takes five minutes if you wish to set up a brokerage account - glenn beck teeka tiwari.
"Oh Teeka, we enjoy your ideas, but gosh, establishing a crypto account is so hard." 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 in fact truly making money an enormous quantity of cash to go through maybe, you know, 20 minutes of a nuisance (undefined). teeka tiwari palm beach.
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 directly through your trading software application. And can you imagine what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari picks - undefined.
Right now you discussed the process that individuals go through, and one thing I desire to expose too that you didn't point out, but I understand a lot of folks who have problem with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can only purchase $500 a week.
As tough as possible, best, like Coinbase. It 'd take me forever prior to I could start purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari palm beach). I mean, it's if you keep in mind 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 imply, we're in the early days of that technology, but similar to throughout that time period, 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm always curious to speak to individuals who are, specifically somebody like yourself, who's devoted the last, you know, the bulk of the last few years to actually go both feet in on this - teeka tiwari twitter. How do you explain cryptocurrency to like an average individual? That's a great question.
They're 2 absolutely different 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 limited amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals continuously attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We do not rely on paper money, you can print an unlimited amount of it. It's really not protect, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari net worth). Or people that were in Cypress, or just individuals who have suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, since 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 financiers have a tough time getting their head around. teeka tiwari picks. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't need Bitcoin. But there are billions of people in the world that don't have stable currencies.
Yeah. And so there's this whole growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari glenn beck. And utility coins are generally utilized, let's state Ethereum, which a lot of individuals understand about Ethereum. Ethereum is essentially a global computer system that you can write computer programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, because you're essentially purchasing shows power. So I would not actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to provide individuals an idea, like a really easy one that I would envision you 'd called an utility token, resembles FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's kind of this exact same type of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on numerous various locations and. I don't 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 utilities that are readily available.
And you type of pointed out having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). Most of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine chance lies in the energy coin area.
There's all of these ICOs that were taking place, those slowed down a little bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And people require to understand that not all utility coins are produced equivalent - teeka tiwari twitter.
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 creators, you can examine the code, and so on. However for an average person, there's now what, over 1,000 various types of coins offered, nearly 1,200 I believe. 'Cause typically it'll crash 80% or so. Which's when we really begin looking at the idea in more information. So here are some fast and dirty things that you should take a look at, right? So, one is, are they resolving an issue that requires to be fixed? One of the huge drawbacks with extremely wise, technical individuals, is that they like to fix issues that nobody appreciates fixing. glenn beck teeka tiwari.
Does the team have experience of executing in an effective way in another area of their life? And it does not even have to be straight associated to cryptocurrency, it does not need to be even directly associated to software, right? So, however I wish to see a track record 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 excellent advisors behind them, I'm probably not going to give them any cash - teeka tiwari reviews.
Yeah. I believe that in marketing in basic, my world of organization, we constantly look for problems and how we can solve them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain normally? Or would you say it's much better if they're fixing sort 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 searching for solutions that, so I'll provide you an example - teeka tiwari review. undefined.
And the reason that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% more affordable than current 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 performance history of creating computer programs that entire states run their entire operations on, right? So you've got okay, the smart guy has built huge computer programs, terrific team, fixing a huge problem that is going to cut huge costs.
I suggest, it doesn't get any easier than that in regards to choosing who to put money behind. And a great deal of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have an actually simple rule, Ryan. If I don't understand something, I installed my hand, and I state, "I didn't comprehend what you simply said." Mm-hmm (affirmative).