teeka tiwari lawsuit
teeka tiwari trading license
|
But scams and small scams. And there's something that a scams constantly 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 problem came out. The massive hack. And that woke something up for me.
Therefore I can't overlook that. I've got to go dig much deeper." Therefore I started taking a trip all around the world. I began going to Bitcoin occasions; I began to speaking to people that were smarter than me in this area. And what I recognized is that Blockchain technology and the execution of Blockchain innovation 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 need to have it individually verified, it's cryptographically verified. That principle can ripple out throughout the whole greater economy. And when that cent dropped, I knew I had to commit all my expert resources into ending up being a specialist in this area.
And do you believe, I indicate you mentioned something there about not needing 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 lot of folks may not even totally comprehend validation procedure . undefined.
We were simply discussing how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and after that suddenly there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the average folks do not perhaps learn about these procedures, so they do not maybe see what you're stating 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 buying it, right? You've got to go to an exchange, you've got to submit your identity documents, then you have actually got to wait to get validated, and then finally, you can go purchase some Bitcoin.
So, a great deal of individuals find that too bothersome, which'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 perhaps the 20 minutes needed to go through a procedure which simply takes 5 minutes if you want to establish a brokerage account.
"Oh Teeka, we love your ideas, however gosh, establishing a crypto account is so difficult." What I tell them is I say, "Look, when it's easy 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 truly getting paid a massive amount of money to go through possibly, you understand, 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, prior to you'll have the ability to buy cryptocurrencies straight through your trading software application. 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.
Right now you pointed out the procedure that people go through, and something I want to expose too that you didn't discuss, but I understand a great deal of folks who have problem with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just buy $500 a week.
As tough as possible, right, like Coinbase. It 'd take me permanently prior to I might begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I mean, it's if you keep in mind the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I indicate 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 imply, we're in the early days of that technology, but just like throughout that period of time, for the folks that had the vision to see where the future was going, and then purchased in on a few of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm always curious to speak with individuals who are, particularly someone like yourself, who's committed the last, you know, the better part of the last few years to truly go both feet in on this. How do you describe cryptocurrency to like a typical individual? That's a great question.
They're two absolutely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what gives it value is that it is, there's just going to be a limited quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals continuously attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And really, with current innovation, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over.
And so when individuals put, you've got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not rely on paper cash, you can print a limitless quantity of it. It's truly not protect, and the federal government can take it far from you." - Whereas with Bitcoin, right , go ahead.
Yeah. Or individuals that remained in Cypress, or simply individuals who have actually 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 catalyst for more adoption, since they already do not think in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a lot of American or Western financiers 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 do not require Bitcoin - Yeah. Therefore there's this entire blossoming international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And energy coins are basically used, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is basically a global computer that you can write computer system programs for and run computer system programs on a globally decentralized computer program.
So we consider something like Ether an energy token, since you're essentially buying programming power. So I would not really think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide individuals an idea, like a very basic one that I would picture you 'd called an utility 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 type of network result that you have with Bitcoin, where it's like unstoppable example, since it's on so numerous various areas and. And you kind of discussed having this boots on the ground experience. Now, considering that we're looking at the bulk of these are most likely energy based, correct? 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, however I think the real chance depends on the utility coin area.
There's all of these ICOs that were happening, those decreased a little bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And individuals need to comprehend that not all energy coins are created equivalent.
So you have the benefit of devoting your profession to this, so you can head out there and do the reconnaissance, you can satisfy the founders, you can examine the code, and so on. But for an average individual, there's now what, over 1,000 different kinds of coins available, almost 1,200 I think. 'Cause normally it'll crash 80% approximately - undefined. And that's when we really start taking a look at the concept in more detail. So here are some fast and dirty things that you should look at, right? So, one is, are they fixing an issue that needs to be fixed? One of the big downsides with really wise, technical people, is that they like to fix issues that no one cares about resolving.
Does the group have experience of performing in an effective manner in another area of their life? And it doesn't even need to be directly related to cryptocurrency, it does not need to be even straight related to software, right? So, however I want to see a performance history of success in something, right? If it's four guys in a room that are just 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 believe that in marketing in general, my world of business, we continuously search for problems and how we can resolve them. Now, are the problems things that individuals are attempting to resolve a part of the Blockchain usually? Or would you say it's much better if they're solving 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 generally searching for services that, so I'll give you an example.
And the factor that we purchased it is due to the fact that they discovered a way to make documents tamper-proof, and it's 99% more affordable than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that started it has a track record of creating computer system programs that entire states run their entire operations on, right? So you have actually got all right, the clever man has actually built big computer programs, terrific group, fixing an enormous problem that is going to cut substantial costs.
I imply, it does not get any easier than that in regards to deciding who to put cash behind. And a great deal of this prevails sense, and a great deal of folks will try to make things more complicated than it is. And I have an actually basic rule, Ryan. If I don't comprehend something, I set up my hand, and I say, "I didn't understand what you just said." Mm-hmm (affirmative).