aion teeka tiwari
teeka tiwari scam?
|
But scams and little frauds. And there's something that a fraud constantly does: it constantly goes to no. 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 massive hack. Which woke something up for me.
And so I can't neglect that. I have actually got to go dig deeper." And so I began traveling all around the world. I began going to Bitcoin events; I began to speaking to individuals that were smarter than me in this space. And what I recognized is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of being able to have data that we don't need to have it separately confirmed, it's cryptographically verified. That principle can ripple out throughout the entire higher economy. And when that cent dropped, I understood I had to devote all my expert resources into becoming a specialist in this area.
And do you think, I suggest you mentioned 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 great deal of folks may not even fully comprehend validation procedure . We were just speaking about how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and then suddenly there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks do not maybe learn about these processes, so they do not perhaps see what you're saying 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 simple as shooting 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 submit your identity documents, then you've got to wait to get verified, and then finally, you can go buy some Bitcoin.
So, a great deal of people discover that too bothersome, which's why the individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes needed to go through a process which just takes 5 minutes if you desire to set up a brokerage account.
"Oh Teeka, we enjoy your ideas, but gosh, setting up a crypto account is so challenging." What I tell them is I state, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The entire cryptocurrency market will be 10x bigger. So you're actually really making money an enormous quantity of cash to go through perhaps, you understand, 20 minutes of a pain in the neck.
So you can't buy Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software. And can you picture what will happen to this entire market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Today you mentioned the procedure that individuals go through, and one thing I want to expose too that you didn't discuss, however I know a great deal 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 tough as possible, right, like Coinbase. It 'd take me permanently prior to I might start buying 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 imply 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 suggest, we're in the early days of that innovation, but much like during that amount of time, for the folks that had the vision to see where the future was going, and then bought in on some of these young business, 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 dedicated the last, you understand, the lion's share of the last few years to really go both feet in on this. How do you explain cryptocurrency to like an average individual? That's a fantastic concern.
They're two totally various 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 offers it worth is that it is, there's just going to be a restricted amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people continuously try to hack it. But because of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so huge today, 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 since they're saying, "We don't rely on paper money, you can print an endless amount of it. It's actually not secure, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , go ahead.
Yeah. Or individuals that remained 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 demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, due to the fact that they already don't think in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a bumpy ride getting their head around. 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 require Bitcoin - undefined. But there are billions of people on the planet that do not have steady currencies.
Yeah. And so there's this entire blossoming global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are essentially used, let's say Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is basically a worldwide computer that you can write computer programs for and run computer programs on a globally decentralized computer program.
So we think about something like Ether an energy token, since you're basically buying programming power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide people an idea, like an extremely easy one that I would imagine you 'd called an energy token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this very same type of network impact that you have with Bitcoin, where it resembles unstoppable example, since it's on a lot of various areas and. And you sort of mentioned 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). Many of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, but I think the real opportunity lies in the utility coin area.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a couple of things that was going on, but people are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And individuals need to understand that not all utility coins are created equal.
So you have the advantage of devoting your occupation to this, so you can go out there and do the recon, you can satisfy the founders, you can inspect the code, and so on. However for a typical person, there's now what, over 1,000 various kinds of coins available, nearly 1,200 I believe. 'Cause typically it'll crash 80% or so - Does the group have experience of performing in a successful way in another area of their life? And it does not even have to be straight related to cryptocurrency, it does not have to be even directly related to software, right? So, however I wish to see a track record of success in something, right? If it's four people in a space that are simply out of college, unless they've got some actually excellent advisors behind them, I'm most likely not going to provide them any cash.
Yeah. I think that in marketing in general, my world of company, we continuously search for issues and how we can solve them. Now, are the problems things that people are trying to resolve a part of the Blockchain typically? Or would you say it's better if they're resolving 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 services that, so I'll provide you an example.
And the factor that we bought it is due to the fact that they found a way to make documents 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 track record of creating computer programs that whole states run their entire operations on, right? So you've got fine, the wise person has developed substantial computer programs, terrific team, resolving an enormous issue that is going to cut big expenses.
I indicate, it doesn't get any simpler than that in terms of deciding who to put money behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have a really simple guideline, Ryan. If I don't comprehend something, I put up my hand, and I state, "I didn't understand what you simply said." Mm-hmm (affirmative).