glenn beck and teeka tiwari
teeka tiwari master course
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However frauds and little scams. And there's something that a fraud always does: it always goes to no. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem 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 deeper." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I started to talking to individuals that were smarter than me in this space. And what I understood is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The implications of that, of being able to have data that we do not require to have it independently confirmed, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I knew I needed to commit all my expert resources into ending up being a specialist in this area.
And do you believe, I mean you discussed 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 lot of folks might not even totally understand recognition procedure . We were simply talking about how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and after that 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 maybe understand about these processes, so they do not possibly see what you're saying as this advancement, they do not see it in their everyday life? Or what do you think of that? I think that's real.
It's not as easy as firing up a web internet browser and going to e-trade. com and pressing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to upload your identity files, then you have actually got to wait to get confirmed, and then finally, you can go purchase some Bitcoin.
So, a lot of individuals find that too troublesome, which's why the individuals that are literally making the most amount of money right now in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes required to go through a process which simply takes five minutes if you desire to set up a brokerage account.
"Oh Teeka, we like your concepts, however gosh, setting up a crypto account is so tough." What I tell 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 bigger. So you're actually really earning money a huge quantity of cash to go through possibly, you know, 20 minutes of a headache.
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 straight through your trading software application. And can you picture what will take place to this entire market when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Today you discussed the procedure that individuals go through, and something I wish to expose too that you didn't point out, however I understand a great deal of folks who deal with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can only buy $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me forever prior to I could begin purchasing in size on Coinbase. They resemble, 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 Web, we were doing it with 56k modems, right? I imply 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 suggest, we remain in the early days of that innovation, however 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 absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm constantly curious to talk to individuals who are, especially someone like yourself, who's devoted the last, you know, the much better part of the last couple of years to truly go both feet in on this. How do you explain cryptocurrency to like an average individual? That's an excellent question.
They're 2 totally different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. And so what provides it value 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 computer systems, verifying the deals on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with current innovation, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
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 since they're saying, "We don't trust fiat money, you can print an endless amount of it. It's truly not secure, and the federal government can take it away from you." - Whereas with Bitcoin, best , proceed.
Yeah. Or individuals that were in Cypress, or just 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 catalyst for more adoption, because they already do not believe in their own currency? Yeah, and I believe we've currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a bumpy ride getting their head around. They're like, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin - Yeah. And so there's this whole blossoming global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And utility coins are generally used, let's say Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is essentially a worldwide computer system that you can write computer system programs for and run computer programs on an internationally decentralized computer system program.
So we think about something like Ether an utility token, since you're basically purchasing programs power. So I wouldn't truly think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give individuals a concept, like a really basic one that I would imagine you 'd called an energy 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 very same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on numerous different locations and. And you sort of discussed having this boots on the ground experience. Now, considering that we're looking at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). Most of the coins that I suggest and take a look at are utility-based. We have a couple of cryptocurrencies, but I believe the real opportunity depends on the utility coin space.
There's all of these ICOs that were taking place, those decreased a bit with some changes to a couple of things that was going on, but individuals are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And individuals need to comprehend that not all energy coins are produced equivalent.
So you have the benefit of dedicating your occupation to this, so you can head out there and do the reconnaissance, you can meet the founders, you can inspect the code, and so on. However for an average individual, there's now what, over 1,000 various types of coins readily available, almost 1,200 I think. 'Cause normally it'll crash 80% or two - Does the group have experience of performing in a successful manner in another area of their life? And it doesn't even need to be directly associated to cryptocurrency, it doesn't need to be even directly associated to software application, right? So, however I wish to see a track record of success in something, right? If it's 4 guys in a room that are just out of college, unless they've got some truly great consultants behind them, I'm probably not going to offer them any cash.
Yeah. I think that in marketing in general, my world of company, we continuously search for problems and how we can fix them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain typically? Or would you say it's better if they're solving sort 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 searching for solutions that, so I'll offer you an example.
And the reason that we bought it is because they discovered a way to make files tamper-proof, and it's 99% cheaper than present technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that started it has a performance history of creating computer programs that whole states run their whole operations on, right? So you've got fine, the smart person has developed substantial computer system programs, terrific team, solving a massive problem that is going to cut huge costs.
I suggest, it does not get any easier than that in regards to choosing who to put money behind. And a lot of this is typical sense, and a great deal of folks will try to make things more complicated than it is. And I have an actually simple rule, Ryan. If I don't comprehend something, I set up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).