But scams and small scams. And there's one thing that a scams always does: it always goes to no - teeka tiwari palm beach. 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 enormous hack. Which woke something up for me.
And so I can't disregard that. I have actually got to go dig much deeper. teeka tiwari palm beach." And so I started taking a trip all around the world. I began going to Bitcoin events; I began to speaking with individuals that were smarter than me in this space. And what I recognized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The implications of that, of being able to have information that we don't require to have it independently confirmed, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I knew I needed to dedicate all my expert resources into becoming an expert in this space.
And do you think, I indicate you discussed something there about not having to get a third-party, or intermediary to validate something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a great deal of folks may not even fully understand recognition process [inaudible 00:04:11].
We were just discussing how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and then suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you think that the typical folks do not possibly learn about these procedures, so they don't perhaps see what you're saying as this breakthrough, they do not see it in their daily life? Or what do you think of that? I think that holds true.
It's not as simple as shooting up a web internet browser and going to e-trade. com and pushing a buy button and buying it, right? You have actually got to go to an exchange, you have actually got to publish your identity files, then you have actually got to wait to get confirmed, and after that finally, you can go purchase some Bitcoin.
So, a lot of people find that too troublesome, which's why individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: individuals that want to put in perhaps the 20 minutes needed to go through a process which just takes five minutes if you want to establish a brokerage account - glenn beck teeka tiwari.
"Oh Teeka, we like your ideas, however gosh, establishing 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 really earning money a massive amount of money to go through maybe, you know, 20 minutes of a pain in the neck (undefined). teeka tiwari next bitcoin.
So you can't buy Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you imagine 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 - undefined.
Today you discussed the procedure that individuals go through, and one thing I wish to bring to light too that you didn't point out, but I know a great deal of folks who battle with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just purchase $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're like, well, we'll let you buy $500 a week, Teeka (teeka tiwari wikipedia). 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 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 remain in the early days of that innovation, but just like throughout that amount 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 business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm constantly curious to speak with individuals who are, especially someone like yourself, who's devoted the last, you understand, the bulk of the last few years to really go both feet in on this - teeka tiwari palm beach. How do you explain cryptocurrency to like a typical person? That's an excellent question.
They're two absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative 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, verifying the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people constantly attempt to hack it. However because of the nature of the network, today it's been unhackable. And actually, with existing technology, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually got people 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 amount of it. It's truly not protect, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari 5 coins). Or people that remained in Cypress, or just people who have actually suffered through either devaluation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a catalyst for more adoption, due to the fact that they already do not think in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a lot of American or Western investors have a tough time getting their head around. glenn beck teeka tiwari. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin. But there are billions of individuals worldwide that do not have stable currencies.
Yeah. And so there's this whole burgeoning worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari picks. And energy coins are essentially utilized, let's say Ethereum, which a great deal of people learn about Ethereum. Ethereum is basically a global computer system that you can write computer system programs for and run computer system programs on a globally decentralized computer program.
So we think about something like Ether an utility token, due to the fact that you're essentially purchasing programming power. So I would not really consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari picks. And there are other ones out there, to provide people a concept, like a really simple one that I would imagine you 'd called an energy token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's sort of this very same kind of network effect that you have with Bitcoin, where it resembles unstoppable example, because it's on so many various locations and. I don't understand the ins and outs of it, however as an example for somebody who may just be extremely basic in their understanding of this, there are so many various types of utilities that are readily available.
And you kind of pointed out having this boots on the ground experience. Now, considering that we're looking at the bulk of these are probably energy based, correct? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I believe the real chance lies in the utility coin area.
There's all of these ICOs that were happening, those decreased a bit with some modifications to a couple of things that was going on, but individuals are going to come out of the woodwork and begin to produce energy coins- Correct, yeah. And individuals need to understand that not all energy coins are developed equivalent - teeka tiwari palm beach.
So you have the advantage of committing your profession to this, so you can go out there and do the recon, you can satisfy the founders, you can check the code, etc. However for an average person, there's now what, over 1,000 various types of coins readily available, practically 1,200 I think. 'Cause usually it'll crash 80% approximately. And that's when we really start taking a look at the idea in more detail. So here are some fast and dirty things that you should take a look at, right? So, one is, are they resolving a problem that requires to be resolved? Among the huge drawbacks with very clever, technical people, is that they like to resolve problems that nobody cares about solving. teeka tiwari palm beach.
Does the group have experience of executing in a successful way in another location of their life? And it does not even have to be straight related to cryptocurrency, it doesn't have to be even directly associated to software, right? So, however I wish to see a performance history of success in something, right? If it's 4 men in a room that are just out of college, unless they have actually got some really excellent advisors behind them, I'm most likely not going to provide any cash - teeka tiwari review.
Yeah. I think that in marketing in basic, my world of company, we constantly search for problems and how we can solve them. Now, are the issues things that people are attempting to resolve a part of the Blockchain normally? Or would you state it's much better if they're fixing type 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. undefined.
And the reason that we bought it is since they found a way to make files tamper-proof, and it's 99% cheaper than current technology, 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 performance history of creating computer programs that whole states run their entire operations on, right? So you have actually got all right, the clever person has developed big computer system programs, fantastic group, fixing a massive problem that is going to cut huge expenses.
I imply, it doesn't get any easier than that in regards to deciding who to put cash behind. And a lot of this prevails sense, and a great deal of folks will try to make things more complicated than it is. And I have an actually basic guideline, Ryan. If I don't understand something, I installed my hand, and I say, "I didn't comprehend what you just said." Mm-hmm (affirmative).