However frauds and small scams. And there's something that a fraud always does: it always goes to zero - teeka tiwari twitter. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. Which woke something up for me.
Therefore I can't ignore that. I have actually got to go dig deeper. teeka tiwari glenn beck." Therefore I began traveling all around the world. I began going to Bitcoin events; I started to talking to people that were smarter than me in this space. 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 overemphasize how enormous that is! The implications of that, of being able to have information that we don't need to have it independently confirmed, it's cryptographically verified. That concept can ripple out throughout the whole higher economy. And when that cent dropped, I understood I needed to devote all my expert resources into ending up being a specialist in this area.
And do you believe, I mean you pointed out something there about not needing to get a third-party, or intermediary to confirm 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 totally comprehend recognition process [inaudible 00:04:11].
We were just discussing how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then all of an abrupt there's other people getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks don't 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 daily life? Or what do you think of that? I believe 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 buying it, right? You've got to go to an exchange, you've got to submit your identity files, then you have actually got to wait to get validated, and after that lastly, you can go buy some Bitcoin.
So, a lot of individuals find that too bothersome, which's why the people that are literally making the most amount of money today in cryptocurrencies are the early adopters: people that are ready to put in maybe the 20 minutes needed to go through a process which just takes five minutes if you want to set up a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we love your ideas, but gosh, setting up a crypto account is so difficult." What I tell them is I say, "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 cash to go through perhaps, you understand, 20 minutes of a headache (undefined). teeka tiwari twitter.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, prior to you'll be able to purchase cryptocurrencies straight through your trading software application. And can you imagine what will occur 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.
Today you pointed out the procedure that people go through, and something I wish to expose too that you didn't point out, but I understand a lot of folks who have problem with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can only purchase $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me forever before I could begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari 5 coins). I mean, 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 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 remain in the early days of that innovation, however simply like during that amount of time, for the folks that had the vision to see where the future was going, and after that 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, because I'm constantly curious to talk with people who are, specifically someone like yourself, who's devoted 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 explain cryptocurrency to like an average person? That's a great question.
They're two completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to money. So Bitcoin would be a cryptocurrency. And so what gives it value is that it is, there's only going to be a minimal quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the transactions on the Bitcoin network. And so if you look at that Bitcoin network, people continuously try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
And so when individuals 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 don't rely on paper money, you can print an unlimited amount of it. It's really not protect, and the federal government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go ahead.
Yeah (glenn beck teeka tiwari). Or individuals that were in Cypress, or simply individuals who have suffered through either hyperinflation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, since they currently don't believe in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride getting their head around. glenn beck teeka tiwari. They're like, "Well I don't need 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 individuals worldwide that don't have stable currencies.
Yeah. And so there's this entire growing global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari. And energy coins are generally used, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is basically an international computer that you can write computer programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an utility token, since you're basically purchasing programs power. So I would not truly think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari wikipedia. And there are other ones out there, to offer individuals an idea, like a very basic one that I would envision 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 sort of this exact same type of network result that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on a lot of different locations and. I do not understand the ins and outs of it, however as an example for somebody who might just be very standard in their understanding of this, there are numerous various kinds of utilities that are offered.
And you sort 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 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, however I think the genuine opportunity lies in the utility coin area.
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, however people are going to come out of the woodwork and start to create utility coins- Correct, yeah. And people need to understand that not all utility coins are developed equal - teeka tiwari.
So you have the benefit of dedicating your occupation to this, so you can head out there and do the recon, you can meet the creators, you can check the code, and so on. But for a typical individual, there's now what, over 1,000 different types of coins available, nearly 1,200 I think. 'Cause usually it'll crash 80% or two. And that's when we really begin looking at the idea in more information. So here are some quick and unclean things that you should look at, right? So, one is, are they fixing an issue that requires to be resolved? One of the huge disadvantages with extremely smart, technical individuals, is that they like to fix problems that no one appreciates fixing. teeka tiwari glenn beck.
Does the team have experience of performing in an effective way in another location of their life? And it does not even have to be directly related to cryptocurrency, it does not have to be even directly associated to software, right? So, but I wish to see a performance history of success in something, right? If it's four guys in a room that are simply out of college, unless they have actually got some really excellent advisors behind them, I'm most likely not going to offer them any money - teeka tiwari glenn beck.
Yeah. I think that in marketing in basic, my world of company, we continuously search for issues and how we can resolve them. Now, are the issues things that people are attempting to resolve a part of the Blockchain generally? Or would you say it's much better if they're solving kind 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 looking for solutions that, so I'll provide you an example - teeka tiwari glenn beck. 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% less expensive than present technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that began it has a performance history of producing computer programs that whole states run their entire operations on, right? So you've got okay, the clever person has actually constructed big computer programs, fantastic group, fixing a massive issue that is going to cut huge costs.
I suggest, it doesn't get any simpler than that in terms of deciding who to put cash behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complicated than it is. And I have a truly basic rule, Ryan. If I do not understand something, I set up my hand, and I say, "I didn't understand what you just said." Mm-hmm (affirmative).