However frauds and little scams. And there's something that a scams always does: it always goes to no - 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 enormous hack. And that woke something up for me.
And so I can't neglect that. I've got to go dig deeper. teeka tiwari picks." And so I started traveling all around the world. I started going to Bitcoin events; I began to speaking to individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how huge that is! The implications of that, of being able to have data that we don't require to have it independently 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 commit all my professional resources into becoming a specialist in this space.
And do you believe, I suggest you mentioned something there about not needing to get a third-party, or intermediary to confirm 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 procedure [inaudible 00:04:11].
We were just discussing how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and then all of an abrupt there's other people getting notified about it, like the IRS and things like that. Do you think that the typical folks do not maybe learn about these processes, so they don't perhaps see what you're stating as this advancement, they do not see it in their everyday life? Or what do you consider that? I think that's 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 buying it, right? You have actually got to go to an exchange, you've got to submit your identity documents, then you've got to wait to get verified, and then finally, you can go buy some Bitcoin.
So, a great deal of individuals find that too bothersome, which's why the individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes required to go through a procedure which just takes five minutes if you desire to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we enjoy your ideas, however gosh, setting up a crypto account is so difficult." What I inform them is I say, "Look, when it's easy 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 getting paid a massive amount of cash to go through perhaps, you know, 20 minutes of a pain in the neck (undefined). teeka tiwari wikipedia.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software. And can you picture what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform - teeka tiwari net worth - undefined.
Right now you discussed the process that people go through, and one thing I desire to bring to light too that you didn't discuss, but I understand a lot of folks who deal 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 challenging as possible, right, like Coinbase. It 'd take me forever before I might start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari wikipedia). I indicate, it's if you remember the early days of the Internet, 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 remain in the early days of that technology, however similar to throughout that period of time, for the folks that had the vision to see where the future was going, and then purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to speak with people who are, especially somebody like yourself, who's dedicated the last, you understand, the lion's share of the last few years to really go both feet in on this - teeka tiwari net worth. How do you explain cryptocurrency to like an average individual? That's a terrific 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 option to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's only going to be a minimal quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. And so if you look at that Bitcoin network, individuals 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 present technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
Therefore when people put, you've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not rely on paper currency, you can print a limitless quantity of it. It's truly not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (glenn beck teeka tiwari). Or people that remained 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 nations that could possibly be a driver for more adoption, due to the fact that they already don't believe 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 financiers have a difficult time getting their head around. teeka tiwari 5 coins. They resemble, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't need Bitcoin. However there are billions of people worldwide that do not have steady currencies.
Yeah. Therefore there's this entire growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari glenn beck. And energy coins are generally utilized, let's say Ethereum, which a lot of people learn about Ethereum. Ethereum is basically an international computer 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, since you're essentially buying shows power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari picks. And there are other ones out there, to give people a concept, like a really easy one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's kind of this exact same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on numerous various locations and. I do not understand the ins and outs of it, however as an example for somebody who might just be extremely basic in their understanding of this, there are a lot of different types of energies that are available.
And you sort of mentioned 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). The majority of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, but I believe the real chance lies in the energy coin area.
There's all of these ICOs that were taking place, those decreased a bit with some modifications to a few things that was going on, but individuals are going to come out of the woodwork and start to create energy coins- Correct, yeah. And individuals need to comprehend that not all energy coins are created equivalent - teeka tiwari net worth.
So you have the benefit of dedicating your profession to this, so you can head out there and do the reconnaissance, you can fulfill the creators, you can inspect the code, and so on. However for an average person, there's now what, over 1,000 different kinds of coins available, almost 1,200 I think. 'Cause generally it'll crash 80% or so. Which's when we really start taking a look at the idea in more information. So here are some fast and dirty things that you should take a look at, right? So, one is, are they fixing an issue that needs to be resolved? Among the huge disadvantages with extremely smart, technical people, is that they like to fix problems that nobody cares about fixing. teeka tiwari net worth.
Does the team have experience of carrying out in a successful way in another location of their life? And it does not even have to be directly related to cryptocurrency, it does not need to be even directly associated to software application, right? So, but I desire to see a track record of success in something, right? If it's 4 men in a space that are just out of college, unless they've got some actually good consultants behind them, I'm most likely not going to offer them any money - teeka tiwari net worth.
Yeah. I believe that in marketing in basic, my world of service, we constantly look for problems and how we can fix them. Now, are the problems things that people are attempting to solve a part of the Blockchain generally? Or would you state 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 trying to find services that, so I'll give you an example - teeka tiwari picks. undefined.
And the factor that we bought it is due to the fact that they found a way to make files tamper-proof, and it's 99% cheaper than current 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 performance history of developing computer programs that whole states run their whole operations on, right? So you've got alright, the clever person has developed huge computer system programs, fantastic group, fixing a massive problem that is going to cut huge expenses.
I mean, it does not get any easier than that in regards to deciding who to put cash behind. And a great deal of this prevails sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a really simple rule, 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).