teeka tiwari 2020 stock pick
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But scams and small scams. And there's something that a fraud constantly does: it always 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 huge hack. Which woke something up for me.
Therefore I can't ignore that. I've got to go dig much deeper." Therefore I started traveling all around the world. I began going to Bitcoin occasions; I began to speaking to individuals that were smarter than me in this area. And what I realized is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of having the ability to have information that we do not require to have it separately verified, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I understood I needed to commit all my professional resources into becoming a specialist in this area.
And do you think, I suggest you discussed 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 lot of folks might not even completely comprehend validation procedure . We were simply discussing how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not perhaps learn about these procedures, so they don't possibly see what you're stating as this development, they do not see it in their daily life? Or what do you believe about that? I think that's real.
It's not as easy as firing up a web 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 submit your identity files, then you have actually got to wait to get validated, and then finally, you can go buy some Bitcoin.
So, a lot of people discover that too bothersome, which's why the individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: people that are ready to put in maybe the 20 minutes needed to go through a process which simply takes five minutes if you desire to establish a brokerage account.
"Oh Teeka, we like your concepts, but gosh, setting up a crypto account is so tough." What I inform them is I state, "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 actually truly getting paid a huge amount of cash to go through perhaps, you know, 20 minutes of a headache.
So you can't buy Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies directly through your trading software application. And can you imagine what will happen to this whole marketplace when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Today you pointed out the procedure that people go through, and one thing I desire to expose too that you didn't mention, but I understand a great deal of folks who have a hard time with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just 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 mean, it's if you remember the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I imply it would take 20 minutes to fill a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I mean, we remain in the early days of that innovation, however similar to during that period of time, for the folks that had the vision to see where the future was going, and after that purchased in on a few of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, since I'm always curious to speak to individuals who are, specifically somebody like yourself, who's committed the last, you know, the bulk of the last few years to really go both feet in on this. How do you explain cryptocurrency to like an average individual? That's a fantastic question.
They're 2 totally various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what offers it worth is that it is, there's only going to be a minimal amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. And so if you 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 present innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
And so when people put, you have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We do not rely on fiat money, you can print an unlimited quantity of it. It's actually not secure, and the government can take it far from you." - Whereas with Bitcoin, best , proceed.
Yeah. Or people that were in Cypress, or just people who have actually suffered through either run-away inflation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, because they already do not believe in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a great deal 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 steady currency, right? You don't need Bitcoin - Yeah. And so there's this whole blossoming worldwide need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And energy coins are essentially utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a worldwide computer that you can write computer programs for and run computer system programs on a globally decentralized computer program.
So we consider 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 offer people an idea, like an extremely basic one that I would picture you 'd called an utility token, is like 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 effect that you have with Bitcoin, where it's like unstoppable kind of thing, due to the fact that it's on many different areas and. And you sort of mentioned having this boots on the ground experience. Now, considering that we're looking at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, however I believe the genuine chance lies in the utility coin space.
There's all of these ICOs that were taking place, those slowed down 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 create utility coins- Correct, yeah. And individuals require to comprehend that not all energy coins are created equivalent.
So you have the advantage of committing your occupation to this, so you can head out there and do the recon, you can meet the founders, you can examine the code, and so on. But for an average individual, there's now what, over 1,000 various kinds of coins available, practically 1,200 I believe. 'Cause typically it'll crash 80% or two - Does the team have experience of carrying out in a successful way in another area of their life? And it doesn't even need to be straight related to cryptocurrency, it does not need to be even straight related to software application, right? So, however I wish to see a performance history of success in something, right? If it's four men in a space that are just out of college, unless they've got some truly good consultants behind them, I'm probably not going to provide any cash.
Yeah. I think that in marketing in general, my world of company, we constantly look for issues and how we can solve them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain usually? Or would you say it's much better if they're fixing kind 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 looking for options that, so I'll offer you an example.
And the factor that we purchased it is because they found a way to make files tamper-proof, and it's 99% cheaper than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a performance history of developing computer system programs that whole states run their whole operations on, right? So you have actually got alright, the wise man has actually developed substantial computer system programs, great team, resolving an enormous issue that is going to cut big costs.
I imply, it doesn't get any easier than that in terms of deciding who to put cash behind. And a great deal of this prevails sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly basic guideline, Ryan. If I don't comprehend something, I put up my hand, and I say, "I didn't understand what you simply stated." Mm-hmm (affirmative).