However frauds and small frauds. And there's one thing that a fraud always does: it constantly goes to 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 enormous hack. Which woke something up for me.
Therefore I can't overlook that. I have actually got to go dig deeper. teeka tiwari." And so I began taking a trip all around the world. I began going to Bitcoin events; I began to speaking to individuals that were smarter than me in this area. And what I realized is that Blockchain technology and the execution of Blockchain technology 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 data that we do not require to have it independently confirmed, it's cryptographically validated. That principle can ripple out throughout the entire higher economy. And when that cent dropped, I understood I had to commit all my professional resources into ending up being a professional in this space.
And do you think, I suggest you mentioned something there about not needing to get a third-party, or intermediary to verify 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 process [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 notified about it, like the IRS and things like that. Do you think that the average folks don't maybe understand about these procedures, so they don't perhaps see what you're saying as this breakthrough, they don't see it in their daily life? Or what do you consider that? I think that's real.
It's not as easy 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 have actually got to submit your identity files, then you have actually got to wait to get verified, and then finally, you can go buy some Bitcoin.
So, a great deal of people find that too bothersome, which's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: individuals that are ready 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 - teeka tiwari wikipedia.
"Oh Teeka, we love your ideas, however gosh, setting up a crypto account is so challenging." What I inform them is I state, "Look, when it's simple 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 really getting paid a massive amount of cash to go through maybe, you understand, 20 minutes of a discomfort in the neck (undefined). teeka tiwari net worth.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you picture what will occur to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari next bitcoin - undefined.
Right now you mentioned the process that people go through, and something I wish to bring to light too that you didn't point out, but I know a lot of folks who struggle with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As tough as possible, right, like Coinbase. It 'd take me permanently before I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari reviews). I imply, it's if you keep in mind the early days of the Internet, when we were getting on the Web, 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 mean, we're in the early days of that technology, however similar to during that time period, 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm constantly curious to speak with individuals who are, especially somebody like yourself, who's devoted the last, you understand, the lion's share of the last couple of years to really go both feet in on this - teeka tiwari picks. How do you describe cryptocurrency to like a typical individual? That's a fantastic concern.
They're two completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. And so what offers it value is that it is, there's only going to be a restricted quantity. 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 look at that Bitcoin network, people constantly attempt to hack it. However since of the nature of the network, today it's been unhackable. And actually, with existing technology, the Bitcoin network is so big 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 literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't rely on paper currency, you can print a limitless amount of it. It's truly not protect, 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 net worth). Or individuals that remained in Cypress, or just individuals who have suffered through either devaluation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, because they currently do not think in their own currency? Yeah, and I believe we have actually already 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 next bitcoin. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin. But there are billions of individuals in the world that do not have steady currencies.
Yeah. And so there's this whole blossoming global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari palm beach. And energy coins are essentially utilized, let's say Ethereum, which a lot of people know about Ethereum. Ethereum is essentially a global computer system that you can compose computer system programs for and run computer programs on a worldwide decentralized computer system program.
So we consider something like Ether an utility token, due to the fact that you're essentially buying programming power. So I wouldn't actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to offer individuals an idea, like a very basic one that I would envision you 'd called an utility token, resembles FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this exact same kind of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on so many various areas and. I do not know the ins and outs of it, but as an example for somebody who may simply be really standard in their understanding of this, there are many different types of energies that are readily available.
And you sort 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, fix? Mm-hmm (affirmative). Most of the coins that I suggest and take a look at are utility-based. We have a couple of cryptocurrencies, but I believe the real opportunity lies in the energy coin space.
There's all of these ICOs that were taking place, those decreased a little bit with some modifications to a couple of things that was going on, but individuals are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And individuals require to comprehend that not all utility coins are produced equal - teeka tiwari.
So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can fulfill the creators, you can examine the code, and so on. However for a typical person, there's now what, over 1,000 different kinds of coins offered, nearly 1,200 I think. 'Cause normally it'll crash 80% or two. Which's when we truly start taking a look at the idea in more detail. So here are some quick and filthy things that you should take a look at, right? So, one is, are they solving an issue that needs to be resolved? One of the huge drawbacks with extremely smart, technical individuals, is that they like to resolve issues that no one appreciates solving. glenn beck teeka tiwari.
Does the group have experience of carrying out in an effective way in another area of their life? And it doesn't even have to be straight related to cryptocurrency, it doesn't have to be even straight related to software, right? So, but I desire to see a performance history of success in something, right? If it's four guys in a room that are just out of college, unless they have actually got some really good consultants behind them, I'm most likely not going to offer them any cash - teeka tiwari review.
Yeah. I believe that in marketing in basic, my world of company, we continuously try to find issues and how we can solve them. Now, are the issues things that individuals are attempting to resolve a part of the Blockchain generally? Or would you state it's 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 generally trying to find solutions that, so I'll provide you an example - teeka tiwari. undefined.
And the factor that we purchased it is since they discovered a method to make documents tamper-proof, and it's 99% less expensive than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that began it has a track record of producing computer system programs that whole states run their whole operations on, right? So you have actually got okay, the clever man has actually constructed huge computer programs, terrific group, solving an enormous problem that is going to cut big expenses.
I indicate, it doesn't get any simpler than that in terms of choosing who to put cash behind. And a lot of this is common sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a truly basic rule, Ryan. If I do not comprehend something, I set up my hand, and I state, "I didn't understand what you simply stated." Mm-hmm (affirmative).