But frauds and small scams. And there's something that a scams always does: it always goes to no - teeka tiwari wikipedia. 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. And that woke something up for me.
And so I can't neglect that. I've got to go dig deeper. teeka tiwari twitter." Therefore I started taking a trip all around the world. I began going to Bitcoin events; I began to talking with 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.
And that, Ryan, is, I can't overstate how enormous that is! The implications of that, of being able to have data that we don't need to have it individually confirmed, it's cryptographically validated. That concept can ripple out throughout the whole higher economy. And when that cent dropped, I knew I needed to commit all my professional resources into ending up being a professional in this area.
And do you think, I imply you mentioned something there about not having to get a third-party, or intermediary to validate 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 totally understand validation process [inaudible 00:04:11].
We were simply speaking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that all of an abrupt there's other individuals getting informed about it, like the IRS and things like that. Do you think that the average folks do not perhaps understand about these processes, so they don't maybe see what you're stating as this development, they do not see it in their everyday life? Or what do you think of that? I think that holds true.
It's not as simple 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 have actually got to upload your identity files, then you've got to wait to get validated, and then lastly, you can go purchase some Bitcoin.
So, a lot of individuals find that too troublesome, 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 maybe the 20 minutes required to go through a process which simply takes five minutes if you wish to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we enjoy your concepts, but gosh, setting up a crypto account is so tough." What I inform them is I state, "Look, when it's easy 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 making money a massive quantity of money to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari picks.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software application. And can you envision what will occur to this whole marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari 5 coins - undefined.
Today you pointed out the procedure that individuals go through, and one thing I wish to expose too that you didn't mention, but I know a great deal of folks who fight with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can only purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me permanently before I could start purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari wikipedia). I indicate, 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 load a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I indicate, we're in the early days of that innovation, however just like throughout that period of time, for the folks that had the vision to see where the future was going, and then bought in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, since I'm always curious to talk to people who are, specifically someone like yourself, who's devoted the last, you understand, the lion's share of the last few years to actually go both feet in on this - teeka tiwari. How do you explain cryptocurrency to like a typical person? That's a terrific concern.
They're two absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what gives it value is that it is, there's only going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with current innovation, the Bitcoin network is so huge right now, 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 since they're stating, "We do not trust fiat money, you can print an unlimited quantity of it. It's truly not secure, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari glenn beck). Or individuals that were in Cypress, or just individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, because they already don't think in their own currency? Yeah, and I believe 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 next bitcoin. They resemble, "Well I don't need 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 worldwide that do not have steady currencies.
Yeah. And so there's this whole growing international need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - glenn beck teeka tiwari. And utility coins are essentially used, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically an international computer that you can compose computer system programs for and run computer programs on a worldwide decentralized computer program.
So we consider something like Ether an utility token, due to the fact that you're basically purchasing programming power. So I would not actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari picks. And there are other ones out there, to offer people a concept, like an extremely simple one that I would picture you 'd called an utility token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's type of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable kind of thing, due to the fact that it's on a lot of different areas and. I don't know the ins and outs of it, but as an example for somebody who might just be very basic in their understanding of this, there are so numerous different kinds of energies that are offered.
And you sort of mentioned having this boots on the ground experience. Now, since we're taking a look at the bulk of these are most likely utility based, correct? Mm-hmm (affirmative). The majority of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I think the genuine opportunity depends on the energy coin area.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and start to develop energy coins- Correct, yeah. And people require to understand that not all utility coins are produced equal - teeka tiwari 5 coins.
So you have the advantage of dedicating your occupation to this, so you can head out there and do the reconnaissance, you can meet the creators, you can inspect the code, etc. But for an average person, there's now what, over 1,000 different kinds of coins readily available, nearly 1,200 I believe. 'Cause normally it'll crash 80% or two. Which's when we truly start looking at the concept in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they fixing a problem that needs to be resolved? One of the huge drawbacks with very wise, technical individuals, is that they like to solve problems that nobody appreciates solving. teeka tiwari picks.
Does the team have experience of performing in an effective way in another area of their life? And it doesn't even need to be directly related to cryptocurrency, it doesn't need to be even straight associated to software application, right? So, however I desire to see a track record of success in something, right? If it's 4 people in a space that are just out of college, unless they have actually got some really good consultants behind them, I'm probably not going to offer them any cash - glenn beck teeka tiwari.
Yeah. I believe that in marketing in general, my world of organization, we constantly try to find issues and how we can resolve them. Now, are the issues things that people are attempting to fix a part of the Blockchain generally? Or would you state it's much better if they're solving kind 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 searching for solutions that, so I'll give you an example - teeka tiwari 5 coins. undefined.
And the factor that we bought it is since they discovered a way to make files tamper-proof, and it's 99% more affordable 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 performance history of creating computer programs that entire states run their whole operations on, right? So you've got all right, the wise person has actually developed big computer programs, terrific group, fixing a massive problem that is going to cut big expenses.
I indicate, it does not get any easier than that in terms of choosing who to put money behind. And a great deal of this prevails sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly basic guideline, Ryan. If I don't understand something, I set up my hand, and I state, "I didn't understand what you simply stated." Mm-hmm (affirmative).