But scams and small frauds. And there's something that a scams constantly does: it always goes to absolutely no - teeka tiwari review. 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.
Therefore I can't overlook that. I've got to go dig much deeper. teeka tiwari glenn beck." And so I started taking a trip all around the world. I began going to Bitcoin events; I started to talking with people that were smarter than me in this space. And what I recognized is that Blockchain technology and the execution of Blockchain innovation 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 require to have it individually confirmed, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I knew I had to dedicate all my professional resources into becoming an expert in this area.
And do you believe, I indicate you mentioned 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 fully comprehend validation process [inaudible 00:04:11].
We were simply talking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and then all of an abrupt there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not possibly understand about these procedures, so they do not perhaps see what you're saying as this development, they do not see it in their daily life? Or what do you think about that? I think that holds true.
It's not as easy as shooting up a web browser and going to e-trade. com and pressing a buy button and buying 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 after that finally, you can go purchase some Bitcoin.
So, a lot of individuals discover that too bothersome, and that's why individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes needed to go through a procedure which just takes five minutes if you desire to set up a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we like your concepts, but gosh, establishing a crypto account is so hard." 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 larger. So you're actually really making money a huge quantity of cash to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari palm beach.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, prior to you'll be able to purchase cryptocurrencies straight through your trading software. And can you picture what will occur to this whole marketplace when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari twitter - undefined.
Right now you discussed the process that individuals go through, and something I want to expose too that you didn't point out, but I know a lot of folks who fight with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me permanently before I could start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari next bitcoin). I imply, 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 suggest it would take 20 minutes to fill 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 technology, but similar to throughout that period of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, due to the fact that I'm constantly curious to speak to individuals who are, especially somebody like yourself, who's dedicated the last, you understand, the bulk of the last few years to actually go both feet in on this - glenn beck teeka tiwari. How do you describe cryptocurrency to like an average individual? That's a terrific concern.
They're 2 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. And so what gives it value is that it is, there's just going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, people constantly try to hack it. However because of the nature of the network, today it's been unhackable. And truly, with current technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
And so when people put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not trust paper currency, you can print an endless quantity of it. It's really not protect, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari palm beach). Or people that were in Cypress, or simply individuals who have actually suffered through either hyperinflation, or there's a high need 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, due to the fact that they currently do not believe in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a bumpy ride getting their head around. glenn beck teeka tiwari. 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 need Bitcoin. However there are billions of individuals in the world that do not have steady currencies.
Yeah. And so there's this entire blossoming global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari twitter. And utility coins are essentially used, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially a worldwide computer system that you can write computer system programs for and run computer system programs on an internationally decentralized computer system program.
So we think about something like Ether an energy token, because you're basically purchasing shows power. So I would not truly 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 a concept, like a really simple one that I would envision you 'd called an energy token, is like FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's type of this very same type of network impact that you have with Bitcoin, where it's like unstoppable example, because it's on a lot of different areas and. I do not understand the ins and outs of it, but as an example for someone who might simply be really basic in their understanding of this, there are so numerous various kinds of utilities that are available.
And you sort of pointed out having this boots on the ground experience. Now, because 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 advise and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the real chance lies in the utility coin area.
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 people are going to come out of the woodwork and begin to produce energy coins- Correct, yeah. And individuals need to comprehend that not all energy coins are developed equal - teeka tiwari 5 coins.
So you have the advantage of devoting your profession to this, so you can head out there and do the recon, you can fulfill the founders, you can check the code, and so on. But for a typical individual, there's now what, over 1,000 various types of coins available, nearly 1,200 I think. 'Cause generally it'll crash 80% or two. And that's when we actually start 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 fixing a problem that needs to be resolved? Among the big drawbacks with really smart, technical individuals, is that they like to resolve issues that no one cares about fixing. teeka tiwari.
Does the group have experience of carrying out in a successful way in another area of their life? And it doesn't even have to be directly associated to cryptocurrency, it doesn't have to be even straight associated to software application, right? So, but I want to see a performance history of success in something, right? If it's 4 men in a space that are simply out of college, unless they've got some really good advisors behind them, I'm most likely not going to provide any money - teeka tiwari reviews.
Yeah. I think that in marketing in general, my world of organization, we continuously look for issues and how we can fix them. Now, are the issues things that people are attempting to fix a part of the Blockchain usually? 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 generally looking for solutions that, so I'll provide you an example - teeka tiwari review. undefined.
And the reason that we bought it is because they found a method to make documents tamper-proof, and it's 99% cheaper than current innovation, 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 system programs that entire states run their entire operations on, right? So you've got all right, the wise man has actually constructed big computer programs, terrific team, resolving a huge problem that is going to cut huge expenses.
I indicate, it does not get any simpler than that in terms of deciding who to put cash behind. And a lot of this is typical sense, and a great deal of folks will try to make things more complicated than it is. And I have an actually easy rule, Ryan. If I do not comprehend something, I put up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).