But scams and little scams. And there's something that a fraud always does: it constantly goes to zero - teeka tiwari review. However 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 disregard that. I have actually got to go dig deeper. teeka tiwari net worth." Therefore I began traveling 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 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 huge that is! The ramifications of that, of being able to have information that we do not require to have it individually confirmed, it's cryptographically verified. That concept can ripple out throughout the entire greater economy. And when that cent dropped, I understood I had to devote all my expert resources into ending up being an expert in this area.
And do you think, I suggest you discussed something there about not needing to get a third-party, or intermediary to verify 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 might not even completely comprehend recognition procedure [inaudible 00:04:11].
We were just talking about how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and then all of a sudden there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks don't perhaps understand about these procedures, so they don't perhaps see what you're stating as this advancement, 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 simple as firing 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 submit your identity files, then you've got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a lot of people find that too troublesome, and that's why individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes needed to go through a procedure which simply takes five minutes if you wish to establish a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we like your concepts, but gosh, establishing a crypto account is so challenging." What I tell them is I say, "Look, when it's simple 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 truly making money a massive quantity of cash to go through maybe, you know, 20 minutes of a nuisance (undefined). teeka tiwari wikipedia.
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 buy cryptocurrencies directly through your trading software. And can you envision what will take place to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari review - undefined.
Right now you discussed the procedure that people go through, and something I wish to bring to light too that you didn't discuss, but I understand a lot of folks who struggle with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me forever before I could begin buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari picks). I indicate, 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 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 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 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, because I'm constantly curious to speak with people who are, particularly someone like yourself, who's committed the last, you know, the lion's share of the last few years to actually go both feet in on this - teeka tiwari reviews. How do you describe cryptocurrency to like a typical individual? That's a terrific question.
They're 2 totally various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it worth is that it is, there's just going to be a restricted quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with present technology, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when people put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We don't rely on paper money, you can print an unlimited amount of it. It's really not protect, 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 glenn beck). Or individuals that remained in Cypress, or simply people who have actually suffered through either run-away inflation, 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 potentially be a driver for more adoption, since they already do not believe in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a difficult time getting their head around. teeka tiwari glenn beck. They're like, "Well I do not 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 individuals worldwide that don't have steady currencies.
Yeah. Therefore there's this whole burgeoning global demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari net worth. And energy coins are essentially used, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically a global computer that you can write computer programs for and run computer system programs on a worldwide decentralized computer program.
So we consider something like Ether an utility token, because you're essentially buying programs power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari next bitcoin. And there are other ones out there, to offer individuals a concept, like a very simple one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's kind of this same type of network result that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on a lot of various locations and. I don't know the ins and outs of it, but as an example for somebody who may simply be extremely standard in their understanding of this, there are so lots of different types of energies that are available.
And you kind of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are probably energy based, correct? Mm-hmm (affirmative). Many of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, but I believe the genuine opportunity 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 people need to comprehend that not all utility coins are produced equivalent - teeka tiwari 5 coins.
So you have the advantage of dedicating your profession to this, so you can head out there and do the recon, you can meet the creators, you can inspect the code, etc. However for an average individual, there's now what, over 1,000 different types of coins readily available, almost 1,200 I think. 'Cause typically it'll crash 80% approximately. Which's when we actually begin looking at the concept in more information. So here are some quick and dirty things that you should take a look at, right? So, one is, are they fixing a problem that needs to be solved? One of the huge disadvantages with very wise, technical people, is that they like to solve problems that no one cares about resolving. teeka tiwari palm beach.
Does the team have experience of carrying out in an effective way in another area of their life? And it doesn't even have to be straight associated to cryptocurrency, it does not have to be even straight related to software application, right? So, however I wish to see a performance history of success in something, right? If it's four people in a space that are just out of college, unless they've got some actually excellent advisors behind them, I'm most likely not going to offer them any cash - teeka tiwari palm beach.
Yeah. I believe that in marketing in basic, my world of business, we constantly look for issues and how we can fix them. Now, are the issues things that individuals are trying to fix a part of the Blockchain normally? 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 provide you an example - teeka tiwari picks. undefined.
And the factor that we bought it is since they found a way to make documents tamper-proof, and it's 99% more affordable than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that started it has a performance history of developing computer programs that entire states run their entire operations on, right? So you have actually got all right, the smart person has built big computer programs, terrific group, solving a huge problem that is going to cut big expenses.
I mean, it doesn't get any simpler than that in regards to deciding who to put money behind. And a lot of this is common sense, and a great deal of folks will attempt to make things more complex than it is. And I have a really basic rule, Ryan. If I don't comprehend something, I set up my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).