However scams and small scams. And there's something that a scams constantly does: it always goes to no - 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 huge hack. And that woke something up for me.
Therefore I can't overlook that. I've got to go dig deeper. teeka tiwari review." And so I began taking a trip all around the world. I began going to Bitcoin occasions; I began to talking to individuals that were smarter than me in this area. And what I understood is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The ramifications of that, of having the ability to have data that we don't need to have it separately validated, it's cryptographically confirmed. That idea can ripple out throughout the entire higher economy. And when that cent dropped, I understood I needed to devote all my professional resources into becoming an expert in this area.
And do you think, I imply you discussed 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 might not even totally understand recognition procedure [inaudible 00:04:11].
We were just discussing 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 notified about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not possibly understand about these procedures, so they don't possibly see what you're stating as this breakthrough, they don't see it in their daily life? Or what do you consider that? I think that holds true.
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 publish your identity files, then you've got to wait to get confirmed, and after that lastly, you can go buy some Bitcoin.
So, a great deal of people discover that too bothersome, which's why individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: people that are willing to put in possibly the 20 minutes required to go through a procedure which just takes 5 minutes if you wish to establish a brokerage account - teeka tiwari picks.
"Oh Teeka, we like your ideas, but gosh, setting up a crypto account is so challenging." What I inform them is I say, "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 making money a massive quantity of money to go through maybe, you know, 20 minutes of a pain in the neck (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 buy cryptocurrencies directly through your trading software application. And can you envision what will take place to this entire market when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari picks - undefined.
Right now you mentioned the process that individuals go through, and something I wish to expose too that you didn't point out, however I understand a lot of folks who battle with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me forever before I might begin buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka (teeka tiwari reviews). I indicate, it's if you remember the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I indicate 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 indicate, we remain in the early days of that technology, but similar to throughout that period of time, 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 absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, due to the fact that I'm always curious to talk to individuals who are, especially someone like yourself, who's dedicated the last, you understand, the much better part of the last few years to really go both feet in on this - teeka tiwari glenn beck. How do you explain cryptocurrency to like an average individual? That's a great concern.
They're two totally various things, but 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. And so what offers it value 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 deals on the Bitcoin network. Therefore if you look at that Bitcoin network, people continuously try to hack it. But because of the nature of the network, today it's been unhackable. And really, with existing technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're saying, "We do not trust paper cash, you can print an unlimited amount of it. It's truly not protect, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari wikipedia). Or people 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 possibly be a driver for more adoption, since they already do not think in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a bumpy ride getting their head around. teeka tiwari next bitcoin. 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. But there are billions of people in the world that do not have steady currencies.
Yeah. Therefore there's this entire blossoming global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari next bitcoin. And energy coins are basically utilized, let's state Ethereum, which a great deal of individuals know about Ethereum. Ethereum is essentially a global computer system that you can write computer system programs for and run computer programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, because you're essentially purchasing programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari review. And there are other ones out there, to give individuals a concept, like an extremely easy one that I would picture you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's type of this exact same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on so many various locations and. I do not know the ins and outs of it, however as an example for somebody who may simply be extremely fundamental in their understanding of this, there are so lots of different types of utilities that are offered.
And you kind 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). Most of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, however I believe the real opportunity depends on the energy coin area.
There's all of these ICOs that were occurring, those slowed down a bit with some modifications to a few things that was going on, but people 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 equivalent - teeka tiwari 5 coins.
So you have the benefit of dedicating your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the founders, you can check the code, and so on. But for a typical individual, there's now what, over 1,000 different kinds of coins offered, almost 1,200 I believe. 'Cause usually it'll crash 80% or two. Which's when we truly begin 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 needs to be fixed? Among the huge drawbacks with extremely clever, technical individuals, is that they like to solve problems that nobody appreciates resolving. glenn beck teeka tiwari.
Does the group have experience of executing in a successful manner in another location of their life? And it doesn't even have to be directly associated to cryptocurrency, it doesn't need to be even straight associated 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 truly great consultants behind them, I'm probably not going to provide them any cash - teeka tiwari.
Yeah. I believe 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 individuals are trying to fix a part of the Blockchain normally? Or would you say it's much better if they're fixing type 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 looking for solutions that, so I'll give you an example - teeka tiwari wikipedia. undefined.
And the factor that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% cheaper than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that started it has a performance history of producing computer programs that entire states run their whole operations on, right? So you have actually got okay, the clever man has constructed huge computer programs, terrific team, resolving an enormous problem that is going to cut big costs.
I mean, it does not get any easier than that in regards to choosing 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 an actually easy guideline, Ryan. If I don't comprehend something, I installed my hand, and I state, "I didn't comprehend what you simply said." Mm-hmm (affirmative).