However frauds and small scams. And there's something that a fraud always does: it constantly goes to absolutely no - teeka tiwari picks. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The massive hack. And that woke something up for me.
And so I can't overlook that. I have actually got to go dig much deeper. teeka tiwari next bitcoin." And so I began traveling all around the world. I started going to Bitcoin events; I began to speaking to individuals that were smarter than me in this space. And what I understood is that Blockchain technology and the application 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 data that we don't need to have it separately verified, it's cryptographically confirmed. That idea can ripple out throughout the whole greater economy. And when that cent dropped, I understood I had to dedicate all my expert resources into ending up being a specialist in this space.
And do you believe, I mean 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 lot of folks might not even completely comprehend recognition process [inaudible 00:04:11].
We were simply speaking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and after that all of an abrupt there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not perhaps understand about these processes, so they don't possibly see what you're stating as this breakthrough, they don't see it in their everyday life? Or what do you consider that? I believe that holds true.
It's not as easy as shooting 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 publish your identity documents, then you have actually got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a lot of people discover that too inconvenient, which's why the individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes required to go through a procedure which just takes five minutes if you want to set up a brokerage account - teeka tiwari wikipedia.
"Oh Teeka, we enjoy your concepts, but gosh, setting up a crypto account is so hard." What I inform them is I state, "Look, when it's easy 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 an enormous quantity of money to go through possibly, you understand, 20 minutes of a headache (undefined). teeka tiwari next bitcoin.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software. And can you envision what will take place to this entire market when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform - teeka tiwari picks - undefined.
Right now you discussed the process that people go through, and one thing I wish to expose too that you didn't point out, but I know a great deal of folks who deal with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can just buy $500 a week.
As hard as possible, best, like Coinbase. It 'd take me forever before I might start purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari twitter). I imply, 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 mean 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 suggest, we're in the early days of that technology, but much like during that duration of time, for the folks that had the vision to see where the future was going, and then purchased in on a few of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, due to the fact that I'm constantly curious to talk with people who are, particularly someone like yourself, who's dedicated the last, you know, the better part of the last couple of years to actually go both feet in on this - teeka tiwari net worth. How do you describe cryptocurrency to like an average individual? That's a fantastic concern.
They're two completely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's only 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, validating the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, people continuously attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so when people put, you have actually got individuals 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 rely on paper currency, you can print an unlimited quantity of it. It's actually not secure, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari glenn beck). Or people that were in Cypress, or simply individuals who have suffered through either devaluation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, because they already do not think in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a difficult time getting their head around. glenn beck teeka tiwari. 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 don't require Bitcoin. But there are billions of people on the planet that don't have steady currencies.
Yeah. And so there's this whole blossoming global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari. And energy coins are essentially used, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically an international computer system that you can write computer system programs for and run computer system programs on a globally decentralized computer system program.
So we consider something like Ether an energy token, since you're essentially buying shows power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari. And there are other ones out there, to provide people an idea, like an extremely basic one that I would imagine you 'd called an utility token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's type of this very same kind of network impact 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, however as an example for someone who might simply be very fundamental in their understanding of this, there are so numerous different kinds of utilities that are available.
And you kind of discussed having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). Many of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, however I think the real opportunity depends on the energy coin area.
There's all of these ICOs that were taking place, those decreased a bit with some modifications to a couple of things that was going on, however individuals are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And people need to comprehend that not all utility coins are produced equal - glenn beck teeka tiwari.
So you have the benefit of devoting your profession to this, so you can go out there and do the reconnaissance, you can satisfy the creators, you can check the code, and so on. However for a typical individual, there's now what, over 1,000 various kinds of coins available, almost 1,200 I believe. 'Cause typically it'll crash 80% or so. Which's when we really begin taking a look at the concept in more detail. So here are some quick and unclean things that you should look at, right? So, one is, are they solving a problem that needs to be fixed? One of the big disadvantages with extremely clever, technical individuals, is that they like to fix problems that no one appreciates solving. teeka tiwari 5 coins.
Does the group have experience of performing in an effective manner in another area of their life? And it doesn't even need to be directly related to cryptocurrency, it does not need to be even directly associated to software application, right? So, however I desire to see a performance history of success in something, right? If it's 4 people in a room that are just out of college, unless they've got some actually good consultants behind them, I'm probably not going to give them any cash - teeka tiwari 5 coins.
Yeah. I think that in marketing in basic, my world of organization, we continuously try to find issues and how we can resolve them. Now, are the problems things that people are attempting to fix a part of the Blockchain generally? 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 generally searching for options that, so I'll provide you an example - teeka tiwari 5 coins. undefined.
And the reason that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% less expensive than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that began it has a track record of creating computer programs that entire states run their entire operations on, right? So you've got all right, the smart person has built big computer programs, terrific team, solving a huge problem that is going to cut substantial expenses.
I imply, it doesn't get any simpler than that in regards to choosing who to put money behind. And a great deal of this is common sense, and a great deal of folks will attempt to make things more complex than it is. And I have an actually easy rule, Ryan. If I do not comprehend something, I set up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).