However frauds and small frauds. And there's something that a scams constantly does: it constantly goes to zero - teeka tiwari glenn beck. 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.
And so I can't overlook that. I've got to go dig deeper. teeka tiwari palm beach." 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 space. And what I realized is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how massive that is! The ramifications of that, of being able to have data that we do not need to have it independently validated, it's cryptographically validated. That principle can ripple out throughout the entire greater economy. And when that cent dropped, I knew I needed to dedicate all my professional resources into ending up being a professional in this space.
And do you think, I mean you pointed out 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 lot of folks might not even fully understand validation process [inaudible 00:04:11].
We were simply speaking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and then all of an unexpected there's other individuals getting informed about it, like the IRS and things like that. Do you think that the average folks don't maybe understand about these processes, so they don't possibly see what you're stating as this advancement, they do not see it in their everyday life? Or what do you think of that? I believe that's real.
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've got to go to an exchange, you've got to submit your identity files, then you've got to wait to get validated, and after that lastly, you can go buy some Bitcoin.
So, a great deal of individuals find that too inconvenient, and that's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in perhaps the 20 minutes required to go through a procedure which simply takes 5 minutes if you wish to establish a brokerage account - glenn beck teeka tiwari.
"Oh Teeka, we enjoy your concepts, however gosh, setting up a crypto account is so hard." 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 earning money a massive amount of money to go through perhaps, you know, 20 minutes of a nuisance (undefined). glenn beck teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software. And can you picture what will take place to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Right now you pointed out the process that people go through, and something I desire to bring to light too that you didn't point out, however I know a lot of folks who have a hard time with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can only purchase $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me forever prior to I could start purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari picks). I mean, it's if you remember the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I mean it would take 20 minutes to pack 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 throughout 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 absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to talk with people who are, especially someone like yourself, who's dedicated the last, you understand, the bulk of the last couple of years to actually go both feet in on this - teeka tiwari twitter. How do you explain cryptocurrency to like an average person? That's a great question.
They're two completely various 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. Therefore what gives it worth is that it is, there's just going to be a restricted 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. But due to the fact that of the nature of the network, today it's been unhackable. And truly, with existing innovation, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually 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 an endless quantity of it. It's actually not secure, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go on.
Yeah (teeka tiwari palm beach). Or individuals that were in Cypress, or simply people who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, due to the fact that they currently don't think in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a difficult time getting their head around. teeka tiwari palm beach. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of individuals on the planet that don't have steady currencies.
Yeah. Therefore there's this whole burgeoning worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - teeka tiwari net worth. And energy coins are essentially used, let's state Ethereum, which a lot of people learn about Ethereum. Ethereum is basically a worldwide computer system that you can write computer programs for and run computer system programs on an internationally decentralized computer program.
So we think about something like Ether an energy token, since you're essentially buying shows power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari reviews. And there are other ones out there, to offer individuals a concept, like an extremely basic one that I would picture you 'd called an utility token, resembles FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's sort of this exact same kind of network result that you have with Bitcoin, where it's like unstoppable example, because it's on many different locations and. I don't understand the ins and outs of it, however as an example for someone who may simply be really standard in their understanding of this, there are a lot of various types of energies that are offered.
And you type of pointed out having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, however I believe the real opportunity depends on the utility coin space.
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, however people are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And individuals require to comprehend that not all energy coins are created equivalent - teeka tiwari review.
So you have the advantage of devoting your occupation to this, so you can head out there and do the reconnaissance, you can fulfill the founders, you can examine the code, etc. However for an average individual, there's now what, over 1,000 various kinds of coins readily available, nearly 1,200 I believe. 'Cause typically it'll crash 80% approximately. And that's when we actually start taking a look at the concept in more detail. So here are some quick and filthy things that you should look at, right? So, one is, are they resolving a problem that requires to be solved? Among the big drawbacks with extremely clever, technical individuals, is that they like to fix problems that nobody cares about solving. teeka tiwari net worth.
Does the team have experience of performing in a successful way in another location of their life? And it does not even have to be directly related to cryptocurrency, it doesn't need to be even directly associated to software, right? So, however I want to see a track record of success in something, right? If it's 4 guys in a room that are simply out of college, unless they've got some actually excellent advisors behind them, I'm most likely not going to provide any cash - teeka tiwari twitter.
Yeah. I believe that in marketing in basic, my world of business, we constantly try to find issues and how we can solve them. Now, are the issues things that people are trying to solve a part of the Blockchain generally? Or would you say it's better if they're resolving sort 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 basically searching for services that, so I'll provide you an example - teeka tiwari palm beach. undefined.
And the reason that we purchased it is due to the fact that they discovered a way to make documents tamper-proof, and it's 99% less expensive than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that began it has a track record of developing computer programs that whole states run their entire operations on, right? So you have actually got okay, the smart guy has actually developed substantial computer system programs, terrific team, solving a massive problem that is going to cut huge expenses.
I suggest, it doesn't get any easier than that in regards to deciding who to put money behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually basic guideline, Ryan. If I do not comprehend something, I set up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).