teeka tiwari pick today
ethereum teeka tiwari recommendation
|
However frauds and small frauds. And there's something that a fraud always does: it constantly goes to zero. 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. And that woke something up for me.
And so I can't ignore that. I have actually got to go dig deeper." Therefore I began traveling all around the world. I started going to Bitcoin events; I started to talking with people that were smarter than me in this area. And what I realized is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how huge that is! The implications of that, of having the ability to have data that we do not require to have it independently validated, it's cryptographically validated. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I knew I had to commit all my professional resources into becoming an expert in this area.
And do you think, I suggest you discussed something there about not having to get a third-party, or intermediary to validate 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 completely understand recognition process . We were simply speaking about how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and then all of an unexpected there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not possibly learn about these procedures, so they don't maybe see what you're stating as this breakthrough, they don't see it in their everyday life? Or what do you think of that? I believe that's real.
It's not as easy as shooting up a web internet browser and going to e-trade. com and pressing a buy button and buying it, right? You've got to go to an exchange, you have actually got to publish your identity files, then you've got to wait to get confirmed, and after that finally, you can go purchase some Bitcoin.
So, a lot of people find that too bothersome, which's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes required to go through a process which simply takes 5 minutes if you desire to establish a brokerage account.
"Oh Teeka, we like your concepts, but gosh, establishing a crypto account is so hard." What I inform 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 getting paid 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 be able to buy cryptocurrencies straight through your trading software application. And can you picture what will occur to this entire marketplace when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform.
Right now you mentioned the process that people go through, and one thing I wish to bring to light too that you didn't discuss, however I understand a great deal of folks who have a hard time with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me permanently prior to I could start 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 suggest, we remain in the early days of that innovation, however similar to throughout that duration of time, for the folks that had the vision to see where the future was going, and then purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, due to the fact that I'm constantly curious to speak with individuals who are, particularly somebody like yourself, who's dedicated the last, you know, the better part of the last few years to actually go both feet in on this. How do you describe cryptocurrency to like a typical person? That's an excellent question.
They're two absolutely 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 gives it value is that it is, there's only going to be a limited amount. 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. And so if you look at that Bitcoin network, people continuously try to hack it. However since of the nature of the network, today it's been unhackable. And really, with present innovation, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over.
Therefore when people put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're saying, "We do not trust paper cash, you can print a limitless amount of it. It's actually not secure, and the government can take it far from you." - Whereas with Bitcoin, right , go ahead.
Yeah. Or people that were in Cypress, or just people who have suffered through either devaluation, or there's a high demand for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, because they already don't believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a difficult time getting their head around. They're like, "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 whole growing worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And energy coins are generally used, let's state Ethereum, which a great deal of people learn about Ethereum. Ethereum is basically a global computer that you can write 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 basically buying shows power. So I would not actually 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 an extremely simple one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's sort of this same kind of network result that you have with Bitcoin, where it's like unstoppable example, because it's on many different areas and. And you type 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 utility based, correct? Mm-hmm (affirmative). The majority 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 chance lies in the utility coin space.
There's all of these ICOs that were occurring, those decreased a little bit with some modifications to a couple of things that was going on, however individuals are going to come out of the woodwork and start to create utility coins- Correct, yeah. And individuals need to comprehend that not all energy coins are developed equivalent.
So you have the advantage of devoting your occupation to this, so you can go out there and do the reconnaissance, you can meet the founders, you can examine the code, and so on. But for a typical individual, there's now what, over 1,000 different types of coins available, almost 1,200 I think. 'Cause generally it'll crash 80% approximately - Does the team have experience of performing in a successful manner in another location of their life? And it does not even need to be directly related to cryptocurrency, it doesn't have to be even straight associated to software application, right? So, however I wish to see a track record of success in something, right? If it's four guys in a space that are simply out of college, unless they've got some really excellent advisors behind them, I'm probably not going to give them any cash.
Yeah. I think that in marketing in basic, my world of business, we continuously search for issues and how we can fix them. Now, are the problems things that people are trying to solve a part of the Blockchain typically? Or would you say it's better if they're resolving 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 options that, so I'll give you an example.
And the factor that we bought it is due to the fact that they discovered a way to make files tamper-proof, and it's 99% less expensive than existing technology, 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 performance history of developing computer system programs that entire states run their whole operations on, right? So you have actually got fine, the clever guy has actually constructed huge computer programs, fantastic team, resolving a huge problem that is going to cut huge expenses.
I indicate, it does not get any simpler than that in terms of choosing 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 a really basic guideline, Ryan. If I do not comprehend something, I installed my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).