paypal cannabis coin crypto teeka tiwari
teeka tiwari rippoff report
|
But scams and little scams. And there's one thing that a scams always does: it constantly 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 massive hack. Which woke something up for me.
And so I can't overlook that. I have actually got to go dig deeper." And so I began traveling all around the world. I started going to Bitcoin events; I began to speaking with individuals that were smarter than me in this space. And what I recognized is that Blockchain innovation and the application 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 being able to have data that we do not need to have it independently confirmed, it's cryptographically confirmed. That concept can ripple out throughout the entire higher economy. And when that penny dropped, I knew I needed to commit all my professional resources into ending up being 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 reason that this isn't getting as much mass adoption is that a great deal of folks may not even completely comprehend recognition procedure . We were just talking about how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and then suddenly there's other individuals getting informed about it, like the IRS and things like that. Do you think that the average folks do not possibly know about these procedures, so they do not possibly see what you're stating as this advancement, they do not see it in their daily life? Or what do you think about that? I think that's true.
It's not as simple as shooting up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You have actually got to go to an exchange, you have actually got to submit your identity documents, then you have actually got to wait to get confirmed, and then finally, you can go buy some Bitcoin.
So, a great deal of individuals find that too inconvenient, and that's why the individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes required to go through a procedure which just takes five minutes if you wish to establish a brokerage account.
"Oh Teeka, we like your ideas, but gosh, establishing a crypto account is so difficult." 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 in fact truly getting paid a massive quantity of money to go through maybe, you understand, 20 minutes of a headache.
So you can't purchase Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies straight through your trading software. And can you envision what will occur to this entire marketplace when purchasing 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 one thing I wish to expose too that you didn't mention, but I know 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 difficult as possible, right, like Coinbase. It 'd take me forever before I could start 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 Web, when we were getting on the Web, we were doing it with 56k modems, right? I mean 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 mean, we remain in the early days of that innovation, however similar to throughout that amount of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm always curious to talk with individuals who are, particularly somebody like yourself, who's committed the last, you know, the lion's share of the last few years to actually go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's a fantastic concern.
They're two totally different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. And so what provides it worth is that it is, there's just going to be a limited quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. Therefore if you 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 present innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
And so 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 do not rely on fiat money, you can print an unlimited amount of it. It's actually not secure, and the federal government can take it away from you." - Whereas with Bitcoin, ideal , go on.
Yeah. Or individuals that were in Cypress, or just individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, due to the fact that they currently do not think 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 resemble, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - Yeah. And so there's this entire blossoming global demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are basically used, let's say Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically a global computer system that you can write computer system programs for and run computer programs on a worldwide decentralized computer program.
So we consider something like Ether an utility token, due to the fact that you're essentially buying programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer individuals a concept, like an extremely simple one that I would envision 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 exact same kind of network effect that you have with Bitcoin, where it resembles unstoppable kind of thing, because it's on numerous various areas and. And you type 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, fix? Mm-hmm (affirmative). The majority 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 chance lies in the utility coin space.
There's all of these ICOs that were happening, those decreased a bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And individuals need to understand that not all energy coins are created equivalent.
So you have the advantage of committing your profession to this, so you can head out there and do the reconnaissance, you can fulfill the founders, you can inspect the code, etc. However for a typical person, there's now what, over 1,000 various kinds of coins offered, practically 1,200 I believe. 'Cause generally it'll crash 80% approximately - Does the group have experience of performing in an effective way in another area of their life? And it does not even have to be straight related to cryptocurrency, it doesn't need to be even straight associated to software application, right? So, however I desire to see a track record of success in something, right? If it's four people in a room that are simply out of college, unless they have actually got some actually great advisors behind them, I'm most likely not going to provide any money.
Yeah. I think that in marketing in general, my world of business, we continuously look for problems and how we can resolve them. Now, are the issues things that individuals are attempting to resolve a part of the Blockchain normally? Or would you state it's much better if they're fixing sort 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 basically searching for solutions that, so I'll provide you an example.
And the factor that we bought it is due to the fact that they discovered a method to make documents tamper-proof, and it's 99% cheaper than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that began it has a track record of developing computer programs that entire states run their whole operations on, right? So you have actually got all right, the clever guy has actually constructed huge computer programs, terrific team, solving a huge issue that is going to cut huge expenses.
I suggest, it does not get any simpler than that in regards to choosing who to put cash behind. And a great deal of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have a truly basic guideline, Ryan. If I do not understand something, I installed my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).