However scams and little scams. And there's one thing that a fraud constantly does: it constantly goes to absolutely no - teeka tiwari net worth. 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 enormous hack. Which woke something up for me.
Therefore I can't ignore that. I've got to go dig much deeper. teeka tiwari net worth." And so I started traveling all around the world. I started going to Bitcoin events; I started to talking to individuals that were smarter than me in this space. And what I realized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The implications of that, of being able to have data that we do not need to have it independently verified, it's cryptographically confirmed. That idea can ripple out throughout the whole higher economy. And when that penny dropped, I understood I had to devote all my professional resources into ending up being a professional in this area.
And do you believe, I indicate you pointed out something there about not needing 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 lot of folks might not even fully understand recognition process [inaudible 00:04:11].
We were just talking 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 unexpected there's other people getting alerted about it, like the IRS and things like that. Do you think that the average folks don't possibly understand about these procedures, so they don't perhaps see what you're stating as this development, they do not see it in their daily life? Or what do you believe about that? I believe that's real.
It's not as easy as shooting up a web 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 submit your identity files, then you have actually got to wait to get verified, and after that finally, you can go purchase some Bitcoin.
So, a great deal of people discover that too bothersome, which's why the individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that are willing to put in maybe the 20 minutes required to go through a process which just takes 5 minutes if you desire to set up a brokerage account - teeka tiwari picks.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so tough." 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 really earning money a massive quantity of cash to go through perhaps, you know, 20 minutes of a headache (undefined). teeka tiwari wikipedia.
So you can't purchase Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies directly through your trading software application. And can you envision what will happen to this whole market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari 5 coins - undefined.
Right now you discussed the process that people go through, and one thing I desire to expose too that you didn't point out, however I understand a great deal of folks who have problem with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me permanently prior to I could begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari net worth). I imply, it's if you keep in mind the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I suggest it would take 20 minutes to load 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 much like throughout 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 second, due to the fact that I'm constantly curious to speak to people who are, particularly somebody like yourself, who's committed the last, you know, the lion's share of the last few years to actually go both feet in on this - teeka tiwari wikipedia. How do you explain cryptocurrency to like an average individual? That's a fantastic question.
They're two absolutely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what provides it value is that it is, there's just going to be a restricted quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And really, with existing innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not rely on paper money, you can print an endless amount of it. It's truly not secure, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go on.
Yeah (teeka tiwari twitter). Or people that remained in Cypress, or just people who have 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 countries that could possibly be a driver for more adoption, because they currently don't think in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a hard time getting their head around. teeka tiwari reviews. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin. However there are billions of people on the planet that do not have stable currencies.
Yeah. Therefore there's this whole burgeoning global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari glenn beck. And energy coins are generally used, let's say Ethereum, which a lot of individuals understand about Ethereum. Ethereum is essentially a worldwide computer system that you can compose computer programs for and run computer programs on a worldwide decentralized computer system program.
So we consider something like Ether an energy token, since you're essentially buying shows power. So I wouldn't really think about Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari review. And there are other ones out there, to provide individuals an idea, like an extremely easy one that I would imagine you 'd called an utility token, is like FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's kind of this same kind of network effect that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on so numerous various areas and. I do not understand the ins and outs of it, however as an example for someone who might simply be very basic in their understanding of this, there are numerous different kinds of utilities that are offered.
And you kind of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). The majority of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, but I think the real opportunity depends on the energy coin space.
There's all of these ICOs that were taking place, those slowed down 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 start to create energy coins- Correct, yeah. And individuals require to understand that not all utility coins are produced equivalent - teeka tiwari reviews.
So you have the advantage of committing your profession to this, so you can head out there and do the recon, you can meet the creators, you can examine the code, and so on. But for an average individual, there's now what, over 1,000 various kinds of coins readily available, almost 1,200 I think. 'Cause usually it'll crash 80% approximately. Which's when we truly start taking a look at the concept in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they fixing a problem that requires to be fixed? One of the huge downsides with very clever, technical people, is that they like to fix problems that no one cares about resolving. teeka tiwari review.
Does the group have experience of carrying out in an effective manner in another location of their life? And it doesn't even have to be straight related to cryptocurrency, it does not have to be even directly related to software application, right? So, but I desire to see a performance history of success in something, right? If it's 4 people in a space that are just out of college, unless they have actually got some actually excellent advisors behind them, I'm most likely not going to give them any cash - teeka tiwari.
Yeah. I believe that in marketing in basic, my world of organization, we continuously try to find issues and how we can resolve 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 solving 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 looking for options that, so I'll give you an example - teeka tiwari 5 coins. 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 existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a performance history of creating computer programs that whole states run their entire operations on, right? So you've got all right, the clever man has built huge computer system programs, terrific team, resolving a huge problem that is going to cut huge costs.
I mean, it doesn't get any easier than that in terms of choosing who to put money behind. And a great deal of this prevails sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly basic guideline, Ryan. If I do not comprehend something, I installed my hand, and I state, "I didn't comprehend what you just said." Mm-hmm (affirmative).