whete teeka tiwari was born
palm beach confidential (cryptocurrency) - teeka tiwari
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However scams and small scams. And there's something that a fraud constantly does: it always goes to no. 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 huge hack. And that woke something up for me.
Therefore I can't neglect that. I have actually got to go dig deeper." Therefore I started taking a trip all around the world. I began going to Bitcoin events; I started to speaking with people that were smarter than me in this area. And what I realized is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The implications of that, of having the ability to have data that we do not require to have it independently confirmed, it's cryptographically verified. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I knew I needed to commit all my professional resources into becoming a professional 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 verify 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 completely understand validation procedure . We were simply speaking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then all of a sudden there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not maybe know about these processes, so they do not maybe see what you're saying as this breakthrough, they don't see it in their daily life? Or what do you consider that? I believe that's real.
It's not as easy as firing up a web 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 publish your identity files, then you've got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a lot of individuals find that too inconvenient, and that's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that are prepared to put in maybe the 20 minutes required to go through a process which simply takes five minutes if you want to establish a brokerage account.
"Oh Teeka, we enjoy your concepts, however gosh, setting up a crypto account is so challenging." What I inform them is I say, "Look, when it's simple 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 an enormous amount of cash to go through maybe, you know, 20 minutes of a headache.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, before you'll have the ability to purchase cryptocurrencies directly through your trading software. And can you imagine what will occur to this whole marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Today you discussed the procedure that people go through, and something I want to expose too that you didn't point out, but I understand a lot of folks who struggle 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 tough as possible, ideal, like Coinbase. It 'd take me forever prior to I might begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka. I mean, it's if you keep in mind the early days of the Internet, 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 amount of time, for the folks that had the vision to see where the future was going, and then bought in on a few of these young business, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm always curious to talk to individuals who are, specifically somebody like yourself, who's devoted the last, you know, the lion's share of the last couple of years to actually go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's an excellent concern.
They're 2 absolutely different things, however 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 provides it worth is that it is, there's only going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the deals on the Bitcoin network. And so if you look at that Bitcoin network, people continuously try to hack it. However since of the nature of the network, today it's been unhackable. And actually, with present technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
Therefore when people 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 stating, "We don't rely on paper cash, you can print an unlimited amount of it. It's actually not protect, and the government can take it far from you." - Whereas with Bitcoin, best , go ahead.
Yeah. Or people that remained in Cypress, or simply people who have actually suffered through either devaluation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, due to the fact that they already 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 great deal of American or Western financiers have a difficult time getting their head around. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin - undefined. But there are billions of individuals worldwide that don't have stable currencies.
Yeah. Therefore there's this entire blossoming international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are basically used, let's state Ethereum, which a lot of people learn about Ethereum. Ethereum is basically an international computer that you can compose computer system programs for and run computer system programs on a globally decentralized computer program.
So we consider something like Ether an utility token, due to the fact that you're essentially purchasing shows power. So I would not really think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give people a concept, like an extremely simple one that I would imagine you 'd called an utility token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's sort of this exact same kind of network effect that you have with Bitcoin, where it resembles unstoppable kind of thing, since it's on so numerous different locations and. And you kind of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely energy based, remedy? Mm-hmm (affirmative). The majority of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the real opportunity depends on the energy coin space.
There's all of these ICOs that were happening, those decreased a little 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 people need to comprehend that not all energy coins are created equivalent.
So you have the advantage of devoting your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the founders, you can examine the code, etc. However for an average individual, there's now what, over 1,000 various kinds of coins offered, almost 1,200 I think. 'Cause typically it'll crash 80% approximately - Does the team have experience of carrying out in a successful manner in another location of their life? And it does not even have to be straight associated to cryptocurrency, it doesn't have to be even directly related to software application, right? So, but I wish 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 really excellent consultants behind them, I'm probably not going to offer them any money.
Yeah. I think that in marketing in basic, my world of business, we continuously look for issues and how we can fix them. Now, are the problems things that individuals are trying to resolve a part of the Blockchain normally? Or would you say it's much better if they're fixing 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 essentially looking for options that, so I'll provide you an example.
And the reason that we bought it is since they found a method to make documents tamper-proof, and it's 99% more affordable than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that started it has a track record of producing computer programs that entire states run their entire operations on, right? So you have actually got fine, the wise guy has actually constructed substantial computer programs, great group, solving a massive issue that is going to cut substantial expenses.
I suggest, it doesn't get any simpler than that in terms of choosing who to put money behind. And a great deal of this is common sense, and a lot of folks will attempt to make things more complicated than it is. And I have an actually easy guideline, Ryan. If I do not understand something, I installed my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).