teeka tiwari march 2018 picks
beck, teeka tiwari,
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However frauds and small frauds. And there's something that a fraud always 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 problem came out. The huge hack. Which woke something up for me.
Therefore I can't overlook that. I've got to go dig deeper." Therefore I started traveling all around the world. I started going to Bitcoin events; I began to talking to people that were smarter than me in this space. And what I realized is that Blockchain technology and the application of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The implications of that, of having the ability to have data that we don't need to have it individually confirmed, it's cryptographically validated. That concept can ripple out throughout the whole greater economy. And when that penny dropped, I understood I needed to commit all my professional resources into becoming an expert in this space.
And do you think, I suggest you mentioned something there about not needing 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 great deal of folks might not even fully comprehend recognition procedure . undefined.
We were simply speaking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then all of an abrupt there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks do not possibly understand about these processes, so they don't perhaps see what you're saying as this development, they do not see it in their everyday life? Or what do you believe about that? I think that holds true.
It's not as simple as shooting up a web browser and going to e-trade. com and pressing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to submit your identity documents, then you've got to wait to get verified, and then finally, you can go purchase some Bitcoin.
So, a lot of individuals discover that too inconvenient, which's why the individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes needed to go through a process which simply takes five minutes if you want to establish a brokerage account.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so difficult." What I tell them is I state, "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 larger. So you're in fact truly getting paid a massive amount of cash to go through maybe, you understand, 20 minutes of a pain in the neck.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, prior to you'll be able to buy cryptocurrencies directly through your trading software. And can you picture what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Right now you mentioned the procedure that individuals go through, and one thing I desire to bring to light too that you didn't point out, however I know a great deal of folks who have problem 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 hard as possible, best, like Coinbase. It 'd take me forever prior to I could begin purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I suggest, it's if you keep in mind 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 indicate, 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 bought in on a few of these young business, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, since I'm always curious to talk to individuals who are, specifically someone like yourself, who's committed the last, you understand, the bulk of the last couple of years to actually go both feet in on this. How do you explain cryptocurrency to like a typical person? That's an excellent question.
They're 2 absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it worth 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, verifying the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously attempt to hack it. However since of the nature of the network, today it's been unhackable. And really, with current technology, the Bitcoin network is so big 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 don't rely on paper money, you can print an unrestricted quantity of it. It's truly not secure, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , go ahead.
Yeah. Or people that remained in Cypress, or simply individuals who have suffered through either devaluation, 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 already don't believe 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 investors have a difficult time getting their head around. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin - Yeah. Therefore there's this whole blossoming worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And utility coins are generally utilized, let's say Ethereum, which a lot of people know about Ethereum. Ethereum is essentially a worldwide computer that you can write computer system programs for and run computer programs on an internationally decentralized computer program.
So we think about something like Ether an energy token, due to the fact that you're essentially buying programs power. So I wouldn't really consider Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide people a concept, like a really basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's kind of this exact same type of network impact 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 kind of mentioned having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, but I think the real chance lies in the energy coin space.
There's all of these ICOs that were taking place, those slowed down a little bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And individuals require to comprehend that not all energy coins are produced equal.
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 an average person, there's now what, over 1,000 different types of coins available, almost 1,200 I believe. 'Cause generally it'll crash 80% approximately - Does the group have experience of carrying out in an effective way in another location of their life? And it doesn't even need to be directly associated to cryptocurrency, it doesn't need to be even directly associated to software, right? So, but I desire 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've got some truly great consultants behind them, I'm most likely not going to give them any money.
Yeah. I believe that in marketing in general, my world of company, we constantly look for issues and how we can resolve them. Now, are the issues things that individuals are attempting to resolve a part of the Blockchain usually? Or would you state it's much better if they're solving sort 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 generally trying to find services that, so I'll give you an example.
And the factor that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% more affordable than current 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 developing computer programs that whole states run their entire operations on, right? So you've got fine, the wise man has actually constructed huge computer system programs, great group, resolving a massive problem that is going to cut big expenses.
I mean, it does not get any easier than that in terms of deciding who to put money behind. And a great deal of this is common sense, and a lot of folks will attempt to make things more complex 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 just said." Mm-hmm (affirmative).