teeka tiwari cryptocurrency picks
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But scams and small scams. And there's one thing that a scams always does: it always goes to zero. 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 massive hack. And that woke something up for me.
And so I can't disregard that. I've got to go dig much deeper." Therefore I began taking a trip all around the world. I started going to Bitcoin occasions; I began to talking with 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 overstate how massive that is! The implications of that, of having the ability to have data that we don't need to have it separately verified, it's cryptographically verified. That concept can ripple out throughout the whole greater economy. And when that cent dropped, I knew I needed to dedicate all my professional resources into ending up being a professional in this space.
And do you believe, I suggest you pointed out something there about not having 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 totally understand validation procedure . We were simply talking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other people getting informed about it, like the IRS and things like that. Do you think that the typical folks don't possibly learn about these processes, so they don't perhaps see what you're stating as this breakthrough, they do not see it in their everyday life? Or what do you believe about that? I think that's true.
It's not as simple 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 publish your identity files, then you have actually got to wait to get validated, and then finally, you can go purchase some Bitcoin.
So, a great deal of individuals find that too inconvenient, which's why the people that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: individuals that want to put in maybe the 20 minutes required to go through a procedure which just takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we like your ideas, but gosh, establishing a crypto account is so hard." What I tell 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 getting paid an enormous quantity of money to go through perhaps, you know, 20 minutes of a discomfort in the neck.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you envision what will occur to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Today you discussed the process that individuals go through, and something I want to bring to light too that you didn't point out, however I understand a lot of folks who battle with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me permanently before I might begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka. 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 indicate 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're in the early days of that innovation, but much like throughout that time period, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, due to the fact that I'm always curious to talk with people who are, particularly someone like yourself, who's dedicated the last, you know, the lion's share of the last few years to really go both feet in on this. How do you describe cryptocurrency to like an average person? That's a terrific concern.
They're two absolutely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it value is that it is, there's only going to be a limited quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the transactions on the Bitcoin network. And so if you take a 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 really, with current technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
And so when individuals put, you've got individuals who have actually 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 fiat money, you can print a limitless quantity of it. It's actually not secure, and the federal government can take it far from you." - Whereas with Bitcoin, best , proceed.
Yeah. Or people that were in Cypress, or just people who have suffered through either run-away inflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, because they already do not think in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a difficult time getting their head around. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't need Bitcoin - Yeah. Therefore there's this whole blossoming global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And utility coins are basically utilized, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is essentially an international computer that you can compose computer programs for and run computer system programs on a globally decentralized computer program.
So we think about something like Ether an energy token, since you're essentially buying programming power. So I would not really consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give people an idea, like a very 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 type of this same kind of network impact that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on so lots of different locations and. And you kind of mentioned having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). Most of the coins that I suggest and take a look at are utility-based. We have a couple of cryptocurrencies, however I believe the real chance depends on the utility coin area.
There's all of these ICOs that were occurring, those slowed down a bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And people need to comprehend that not all energy coins are produced equal.
So you have the benefit of devoting your profession to this, so you can go out there and do the recon, you can satisfy the founders, you can inspect the code, etc. But for a typical person, there's now what, over 1,000 different types of coins readily available, almost 1,200 I think. 'Cause normally it'll crash 80% or so - Does the team have experience of performing in an effective way in another location of their life? And it does not even need to be straight associated 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 4 guys in a room that are just out of college, unless they have actually got some actually excellent consultants behind them, I'm probably not going to offer them any money.
Yeah. I think that in marketing in general, my world of business, we continuously look for issues and how we can fix them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain usually? Or would you say it's much better if they're resolving 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 trying to find options that, so I'll provide you an example.
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 developing computer system programs that whole states run their whole operations on, right? So you've got okay, the smart man has constructed substantial computer system programs, excellent group, resolving a massive issue that is going to cut huge costs.
I mean, it doesn't get any easier than that in terms of deciding who to put cash behind. And a lot of this is common sense, and a great deal of folks will try to make things more complicated than it is. And I have a really easy rule, Ryan. If I do not comprehend something, I set up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).