teeka tiwari cryptocurrency recommendation
palm beach confidential" by teeka tiwari
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But scams and small frauds. And there's something that a scams constantly does: it always goes to absolutely 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 enormous hack. Which woke something up for me.
And so I can't neglect that. I have actually got to go dig much deeper." And so I began traveling all around the world. I began going to Bitcoin occasions; I started to speaking to 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 overemphasize how massive that is! The implications of that, of having the ability to have information that we do not require to have it separately verified, it's cryptographically verified. That principle can ripple out throughout the whole greater 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 having 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 lot of folks might not even totally understand recognition procedure . undefined.
We were just talking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then all of an abrupt there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the average folks don't maybe know about these procedures, 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 believe about that? I believe that holds true.
It's not as easy as firing up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You have actually got to go to an exchange, you have actually got to upload your identity files, then you've got to wait to get confirmed, and after that lastly, you can go purchase some Bitcoin.
So, a great deal of people discover that too inconvenient, 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 love your concepts, however gosh, establishing 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 entire cryptocurrency market will be 10x larger. So you're in fact truly making money an enormous amount 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, however it is just a question of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you picture what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform.
Today you pointed out the procedure that individuals go through, and something I desire to bring to light too that you didn't point out, but I understand a great deal of folks who struggle 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 tough as possible, right, like Coinbase. It 'd take me permanently before I might start buying in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka. I imply, it's if you remember the early days of the Web, when we were getting on the Internet, 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're in the early days of that technology, but much like throughout that time period, for the folks that had the vision to see where the future was going, and after that bought in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm constantly curious to talk with people who are, especially someone like yourself, who's dedicated the last, you know, the bulk 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 fantastic question.
They're two absolutely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's just 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 transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals constantly try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And truly, with present technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
And so when people put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're saying, "We don't trust paper cash, you can print an unlimited amount of it. It's truly not secure, and the government can take it far from you." - Whereas with Bitcoin, best , go ahead.
Yeah. Or people that remained in Cypress, or simply individuals who have suffered through either run-away inflation, or there's a high demand 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 currently don't think in their own currency? Yeah, and I believe we have actually already 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 don't need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin - Yeah. And so there's this whole growing worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are essentially utilized, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a global computer system that you can compose computer programs for and run computer system programs on an internationally decentralized computer system program.
So we consider something like Ether an utility token, due to the fact that you're basically buying programming power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give people a concept, like a really simple one that I would picture you 'd called an energy token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's sort of this very same type of network impact that you have with Bitcoin, where it resembles unstoppable kind of thing, due to the fact that it's on so lots of different areas and. And you type of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are probably energy based, correct? Mm-hmm (affirmative). The majority of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, but I think the real opportunity depends on the utility coin space.
There's all of these ICOs that were occurring, those decreased a 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 develop utility coins- Correct, yeah. And individuals need to understand that not all utility coins are developed equivalent.
So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can fulfill the founders, you can check the code, and so on. But for an average individual, there's now what, over 1,000 different types of coins offered, practically 1,200 I think. 'Cause typically it'll crash 80% approximately - undefined. Which's when we really begin taking a look at the idea in more information. So here are some fast and dirty things that you should take a look at, right? So, one is, are they resolving an issue that needs to be solved? One of the huge downsides with very wise, technical people, is that they like to solve issues that nobody appreciates resolving.
Does the team have experience of carrying out in a successful way in another location of their life? And it does not even have to be directly associated to cryptocurrency, it does not have to be even directly associated to software application, right? So, however I wish to see a performance history of success in something, right? If it's 4 men in a room that are simply out of college, unless they have actually got some actually good consultants behind them, I'm most likely not going to provide any money.
Yeah. I think that in marketing in basic, my world of organization, we constantly look for issues and how we can solve them. Now, are the issues things that people are attempting to fix a part of the Blockchain normally? Or would you state it's much better if they're resolving kind 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 looking for options that, so I'll give you an example.
And the reason that we bought it is since they discovered a way to make documents tamper-proof, and it's 99% more affordable than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that began it has a track record of creating computer programs that entire states run their whole operations on, right? So you have actually got all right, the wise person has actually built substantial computer system programs, terrific team, fixing a huge issue that is going to cut huge costs.
I indicate, it does not get any easier than that in terms of deciding who to put money behind. And a lot of this is typical sense, and a great deal of folks will attempt to make things more complicated than it is. And I have an actually easy guideline, Ryan. If I do not comprehend something, I put up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).