But frauds and little scams. And there's one thing that a fraud constantly does: it always goes to zero - glenn beck teeka tiwari. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The enormous hack. And that woke something up for me.
Therefore I can't overlook that. I've got to go dig much deeper. teeka tiwari net worth." Therefore I started traveling all around the world. I started going to Bitcoin occasions; I started to talking to 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.
Which, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of having the ability to have information that we don't require to have it separately verified, it's cryptographically validated. That principle can ripple out throughout the entire greater economy. And when that cent dropped, I knew I had to devote all my professional resources into becoming a professional in this area.
And do you believe, I indicate you discussed something there about not having 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 lot of folks may not even completely understand validation procedure [inaudible 00:04:11].
We were simply speaking 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 individuals getting informed about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks don't possibly know about these procedures, so they do not perhaps see what you're stating as this advancement, they do not see it in their everyday life? Or what do you think about that? I think that holds true.
It's not as easy as shooting up a web internet browser and going to e-trade. com and pressing 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 have actually got to wait to get validated, and then finally, you can go purchase some Bitcoin.
So, a great deal of people discover that too troublesome, which's why the individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: individuals that want to put in maybe the 20 minutes required to go through a process which just takes five minutes if you wish to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we love your ideas, but gosh, establishing 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 larger. So you're in fact truly getting paid a massive amount of cash to go through maybe, you know, 20 minutes of a headache (undefined). teeka tiwari picks.
So you can't purchase Bitcoin yet through their trading platform, however it is just a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you envision what will happen to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Today you discussed the process that people go through, and something I want to expose too that you didn't discuss, but I know a great deal of folks who have a hard time with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can only purchase $500 a week.
As tough as possible, best, like Coinbase. It 'd take me permanently before I could begin buying in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (glenn beck teeka tiwari). I suggest, it's if you remember the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I imply 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, but similar to during that duration 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, because I'm always curious to speak with individuals who are, specifically someone like yourself, who's devoted the last, you know, the lion's share of the last couple of years to truly go both feet in on this - teeka tiwari wikipedia. How do you describe cryptocurrency to like an average person? That's a great concern.
They're 2 completely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's just going to be a minimal quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the deals on the Bitcoin network. And so if you look at that Bitcoin network, people constantly try to hack it. However since of the nature of the network, today it's been unhackable. And actually, with existing innovation, 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've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't rely on paper money, you can print an endless 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, right [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari wikipedia). Or individuals that were in Cypress, or simply people who have suffered through either hyperinflation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, because they currently don't think in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a difficult time getting their head around. teeka tiwari twitter. They resemble, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin. However there are billions of people on the planet that do not have stable currencies.
Yeah. And so there's this entire burgeoning international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari reviews. And energy coins are essentially utilized, let's state Ethereum, which a lot of people know about Ethereum. Ethereum is basically 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 consider something like Ether an utility token, since you're basically purchasing programming power. So I would not really think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari. And there are other ones out there, to give people a concept, like a very basic one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's sort of this same type of network effect that you have with Bitcoin, where it's like unstoppable example, because it's on so many various areas and. I don't understand the ins and outs of it, but as an example for somebody who might just be very fundamental in their understanding of this, there are a lot of various types of energies that are readily available.
And you type of discussed having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and take a look at are utility-based. We have a few cryptocurrencies, but I believe the genuine opportunity depends on the utility coin area.
There's all of these ICOs that were occurring, those slowed down a 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 create energy coins- Correct, yeah. And individuals need to comprehend that not all energy coins are produced equal - glenn beck teeka tiwari.
So you have the advantage of dedicating your profession to this, so you can go out there and do the reconnaissance, you can fulfill the founders, you can inspect the code, etc. However for an average person, there's now what, over 1,000 various kinds of coins available, practically 1,200 I think. 'Cause usually it'll crash 80% approximately. And that's when we truly begin looking at the idea in more detail. So here are some quick and dirty things that you should take a look at, right? So, one is, are they fixing an issue that requires to be resolved? One of the huge disadvantages with really wise, technical individuals, is that they like to resolve problems that nobody appreciates fixing. teeka tiwari glenn beck.
Does the team have experience of performing in a successful way in another area of their life? And it does not even have to be straight associated to cryptocurrency, it doesn't have to be even directly related to software application, right? So, however I desire to see a performance history of success in something, right? If it's 4 guys in a space that are simply out of college, unless they have actually got some truly great advisors behind them, I'm probably not going to give them any cash - teeka tiwari 5 coins.
Yeah. I think that in marketing in general, my world of service, we continuously try to find issues and how we can solve them. Now, are the problems things that people are trying to solve a part of the Blockchain typically? 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 essentially trying to find services that, so I'll give you an example - glenn beck teeka tiwari. undefined.
And the factor that we purchased it is since they discovered a method to make files tamper-proof, and it's 99% less expensive than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that started it has a performance history of producing computer system programs that whole states run their entire operations on, right? So you've got all right, the wise guy has constructed substantial computer programs, fantastic group, fixing a huge problem that is going to cut huge expenses.
I imply, it doesn't get any easier than that in terms of deciding who to put money behind. And a lot of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have a really simple rule, Ryan. If I do not comprehend something, I installed my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).