However frauds and little scams. And there's something that a scams always does: it always goes to absolutely 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 enormous hack. Which woke something up for me.
Therefore I can't overlook that. I have actually got to go dig much deeper. teeka tiwari wikipedia." Therefore I started traveling all around the world. I began going to Bitcoin events; I started to speaking with 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 implications of that, of being able to have information that we do not need to have it separately validated, it's cryptographically confirmed. That principle can ripple out throughout the whole greater economy. And when that cent dropped, I understood I had to devote all my expert resources into ending up being a professional in this space.
And do you think, I mean you pointed out something there about not having to get a third-party, or intermediary to validate something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a great deal of folks may not even totally comprehend validation procedure [inaudible 00:04:11].
We were just talking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other people getting informed about it, like the IRS and things like that. Do you think that the average folks do not maybe learn about these processes, so they don't possibly see what you're saying as this development, they do not see it in their everyday life? Or what do you consider that? I believe that's true.
It's not as easy as shooting up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You have actually got to go to an exchange, you've got to submit your identity files, then you've got to wait to get validated, and then finally, you can go buy some Bitcoin.
So, a great deal of people discover that too inconvenient, and that's why the individuals that are literally making the most amount of money right now in cryptocurrencies are the early adopters: individuals that are willing to put in perhaps the 20 minutes needed to go through a process which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari 5 coins.
"Oh Teeka, we enjoy your ideas, but gosh, establishing a crypto account is so difficult." What I tell 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 larger. So you're actually really getting paid an enormous quantity of cash to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari reviews.
So you can't buy Bitcoin yet through their trading platform, however 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 imagine what will occur to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - glenn beck teeka tiwari - undefined.
Today you discussed the procedure that people go through, and one thing I desire to expose too that you didn't point out, however I know a lot of folks who deal with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me forever before I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari net worth). I imply, 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 suggest, we're in the early days of that innovation, however similar to during that amount of time, for the folks that had the vision to see where the future was going, and after that bought in on a few of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, since I'm always curious to talk to people who are, specifically somebody like yourself, who's devoted the last, you understand, the bulk of the last few years to truly go both feet in on this - teeka tiwari review. How do you explain cryptocurrency to like a typical person? That's a great concern.
They're two totally different things, but 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 ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. Therefore if you take a 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 truly, with existing technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We do not trust paper cash, you can print an unlimited quantity of it. It's really not secure, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari reviews). 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 example, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, due to the fact that they already don't believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a hard time getting their head around. teeka tiwari net worth. They're like, "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 people in the world that do not have stable currencies.
Yeah. Therefore there's this whole burgeoning global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari review. And energy coins are generally utilized, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a worldwide computer system that you can compose computer programs for and run computer programs on a worldwide decentralized computer program.
So we consider something like Ether an energy token, since you're essentially buying programming power. So I would not really think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari net worth. And there are other ones out there, to provide people an idea, like a very easy one that I would envision you 'd called an energy token, resembles FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's type of this exact same kind of network impact that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on so numerous different locations and. I do not understand the ins and outs of it, but as an example for somebody who may just be really fundamental in their understanding of this, there are many various kinds of energies that are offered.
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 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 believe the real chance depends on the energy coin area.
There's all of these ICOs that were happening, those slowed down a bit with some modifications to a couple of things that was going on, but individuals are going to come out of the woodwork and begin to produce energy coins- Correct, yeah. And individuals require to comprehend that not all utility coins are developed equal - teeka tiwari review.
So you have the advantage of devoting your occupation to this, so you can go out there and do the recon, you can fulfill the founders, you can check the code, etc. But for an average person, there's now what, over 1,000 different types of coins available, almost 1,200 I think. 'Cause typically it'll crash 80% or so. And that's when we really start looking at the idea in more detail. So here are some quick and dirty things that you should look at, right? So, one is, are they resolving a problem that requires to be fixed? Among the huge drawbacks with really clever, technical people, is that they like to fix issues that nobody appreciates fixing. glenn beck teeka tiwari.
Does the team have experience of carrying out in a successful way in another area of their life? And it doesn't even have to be straight related to cryptocurrency, it does not need to be even directly associated to software, right? So, however I wish to see a performance history of success in something, right? If it's four men in a space that are simply out of college, unless they've got some really great advisors behind them, I'm most likely not going to provide any money - teeka tiwari reviews.
Yeah. I believe that in marketing in general, my world of company, we continuously try to find problems and how we can solve them. Now, are the issues things that people are trying to fix a part of the Blockchain generally? Or would you say 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 essentially searching for services that, so I'll provide you an example - teeka tiwari review. undefined.
And the reason that we bought it is since they found a way 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 person that began it has a performance history of producing computer programs that entire states run their whole operations on, right? So you've got all right, the wise guy has actually constructed huge computer system programs, great group, fixing an enormous problem that is going to cut big expenses.
I indicate, it does not get any simpler than that in terms of choosing who to put money behind. And a great deal of this is common sense, and a lot of folks will try to make things more complicated than it is. And I have an actually easy guideline, Ryan. If I do not understand something, I installed my hand, and I state, "I didn't understand what you simply stated." Mm-hmm (affirmative).