what five coins is teeka tiwari buying
teeka tiwari podcast
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However scams and little scams. And there's something that a scams 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 problem came out. The massive hack. Which woke something up for me.
Therefore 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 occasions; I started to speaking to people that were smarter than me in this space. And what I understood is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have information that we do not need to have it independently verified, it's cryptographically confirmed. That concept can ripple out throughout the entire higher economy. And when that penny dropped, I understood I had to dedicate all my expert resources into becoming an expert in this area.
And do you think, I imply you pointed out something there about not needing to get a third-party, or intermediary to validate something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a great deal of folks might not even totally understand validation procedure . We were simply talking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and then all of an unexpected there's other individuals getting alerted about it, like the IRS and things like that. Do you think that the typical folks don't possibly understand about these processes, so they do not possibly see what you're stating as this development, they don't see it in their daily life? Or what do you think about that? I think that holds true.
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've got to upload your identity files, then you've got to wait to get validated, and then lastly, you can go purchase some Bitcoin.
So, a great deal of individuals find that too troublesome, which's why individuals that are literally making the most amount of money right now in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes needed to go through a procedure which just takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we enjoy your concepts, however gosh, establishing a crypto account is so difficult." What I inform them is I state, "Look, when it's easy 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 actually truly getting paid an enormous quantity of cash to go through maybe, you understand, 20 minutes of a nuisance.
So you can't buy Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you picture what will happen to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Today you mentioned the process that people go through, and something I wish to expose too that you didn't discuss, but I know a great deal of folks who have a hard time with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can only purchase $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me forever prior to I might begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $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 mean 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 imply, we're in the early days of that technology, but just like during that time period, 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 a step back for a second, due to the fact that I'm constantly curious to speak to individuals who are, especially somebody like yourself, who's dedicated the last, you understand, the lion's share of the last couple of years to truly go both feet in on this. How do you explain cryptocurrency to like a typical person? That's a fantastic question.
They're 2 totally 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 only going to be a minimal quantity. There'll never ever 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 take a look at that Bitcoin network, individuals constantly attempt to hack it. However because of the nature of the network, today it's been unhackable. And really, with present technology, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over.
Therefore when individuals put, you've got individuals 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 paper cash, you can print a limitless amount of it. It's really not secure, and the federal government can take it away from you." - Whereas with Bitcoin, right , proceed.
Yeah. Or individuals that were in Cypress, or simply people who have actually suffered through either devaluation, or there's a high need for, in Argentina for example, 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 currently 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 lot of American or Western financiers have a hard time getting their head around. They're like, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin - Yeah. Therefore there's this entire growing worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And utility coins are generally used, let's state Ethereum, which a great deal of people learn about Ethereum. Ethereum is basically a global computer system that you can compose computer programs for and run computer system programs on an internationally decentralized computer program.
So we consider something like Ether an utility token, since you're essentially purchasing programming power. So I would not truly think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give individuals an idea, like a really easy one that I would picture you 'd called an energy token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's type of this exact same type of network effect that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on a lot of various locations and. And you sort of mentioned having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, but I think the real opportunity depends on the energy 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, but individuals are going to come out of the woodwork and start to develop energy coins- Correct, yeah. And individuals require to understand that not all energy coins are produced equivalent.
So you have the benefit of devoting your occupation to this, so you can go out there and do the reconnaissance, you can satisfy the founders, you can examine the code, etc. But for a typical individual, there's now what, over 1,000 different kinds of coins readily available, practically 1,200 I believe. 'Cause normally it'll crash 80% or so - Does the group have experience of performing in an effective way in another location of their life? And it does not even need to be straight associated to cryptocurrency, it does not need to be even directly associated to software, right? So, but I want 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've got some actually excellent advisors behind them, I'm probably not going to offer them any money.
Yeah. I think that in marketing in basic, my world of business, we constantly look for problems and how we can fix them. Now, are the issues things that individuals are attempting to solve a part of the Blockchain generally? Or would you say it's better if they're fixing type 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 options that, so I'll offer you an example.
And the factor that we purchased it is since they discovered a way to make files tamper-proof, and it's 99% more affordable than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a performance history of developing computer system programs that whole states run their entire operations on, right? So you have actually got alright, the smart person has developed substantial computer system programs, excellent group, fixing an enormous problem that is going to cut big costs.
I imply, it does not get any easier than that in regards to deciding who to put cash behind. And a lot of this is common sense, and a great deal of folks will try to make things more complicated than it is. And I have a truly basic guideline, Ryan. If I don't understand something, I put up my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).