teeka tiwari the palm beach confidential report filetype:pdf
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However scams and little scams. And there's something that a scams always does: it always goes to no. However 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.
And so I can't disregard that. I've got to go dig much deeper." Therefore I began taking a trip all around the world. I started going to Bitcoin events; I began to speaking to individuals that were smarter than me in this space. And what I recognized 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 implications of that, of having the ability to have information that we don't need to have it individually validated, it's cryptographically validated. That principle can ripple out throughout the whole greater economy. And when that cent dropped, I understood I needed to devote all my professional resources into becoming a professional in this area.
And do you think, I suggest you pointed out something there about not needing to get a third-party, or intermediary to verify 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 totally comprehend recognition process . We were simply discussing how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and after that all of an abrupt there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not possibly understand about these procedures, so they do not perhaps see what you're stating as this development, they do not see it in their everyday life? Or what do you consider that? I believe that holds true.
It's not as easy as firing up a web internet 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've got to submit your identity files, then you've got to wait to get confirmed, and after that lastly, you can go buy some Bitcoin.
So, a great deal of individuals discover that too troublesome, which's why the individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes required to go through a process which simply takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we like your ideas, however gosh, establishing a crypto account is so challenging." What I tell them is I state, "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 larger. So you're actually really making money a huge amount of money to go through maybe, you understand, 20 minutes of a headache.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll have the ability to purchase cryptocurrencies directly through your trading software. And can you picture what will occur to this whole market when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform.
Today you pointed out the procedure that individuals go through, and one thing I want to bring to light too that you didn't point out, but I know a lot of folks who deal with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just buy $500 a week.
As hard as possible, best, like Coinbase. It 'd take me forever before I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $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 suggest 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 suggest, we remain in the early days of that innovation, 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 some 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 with individuals who are, specifically someone like yourself, who's committed the last, you understand, the much better part of the last couple of years to actually go both feet in on this. How do you explain cryptocurrency to like an average person? That's a fantastic question.
They're 2 completely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it value is that it is, there's only going to be a restricted 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 constantly try to hack it. However because of the nature of the network, today it's been unhackable. And truly, with present technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
And so when individuals put, you've got people who have actually 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 an unlimited amount of it. It's actually not secure, and the government can take it far from you." - Whereas with Bitcoin, right , go on.
Yeah. Or people that were in Cypress, or just individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a catalyst for more adoption, since they currently don't believe in their own currency? Yeah, and I think 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're like, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin - Yeah. And so there's this whole growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And energy coins are generally utilized, let's say Ethereum, which a great deal of individuals know about Ethereum. Ethereum is basically a worldwide computer system that you can compose computer system programs for and run computer system programs on a worldwide decentralized computer system program.
So we consider something like Ether an utility token, since you're essentially buying programs 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 provide individuals an idea, like a really easy one that I would imagine 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 sort of this exact same type of network impact that you have with Bitcoin, where it resembles unstoppable kind of thing, due to the fact that it's on so lots of various areas and. And you type of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely utility based, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and take a look at are utility-based. We have a few cryptocurrencies, however I believe the genuine opportunity lies in the energy coin space.
There's all of these ICOs that were happening, those slowed down a little bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and begin to develop utility coins- Correct, yeah. And individuals need to comprehend that not all energy coins are developed equal.
So you have the benefit of devoting your profession to this, so you can head out there and do the recon, you can meet the creators, you can examine the code, etc. But for an average individual, there's now what, over 1,000 different types of coins offered, almost 1,200 I think. 'Cause normally it'll crash 80% or so - Does the team have experience of carrying out in an effective manner in another location of their life? And it does not even need to be straight related to cryptocurrency, it does not need to be even directly related to software, right? So, but I want to see a track record of success in something, right? If it's 4 men in a space that are simply out of college, unless they have actually got some really great advisors behind them, I'm most likely not going to provide any money.
Yeah. I think that in marketing in basic, my world of business, we constantly look for problems and how we can solve them. Now, are the issues things that people are trying to fix a part of the Blockchain normally? Or would you say it's much 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 essentially trying to find services that, so I'll offer 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% less expensive than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that began it has a performance history of producing computer system programs that whole states run their entire operations on, right? So you've got okay, the wise guy has actually constructed big computer system programs, great group, fixing a huge issue that is going to cut big costs.
I suggest, it does not get any easier than that in regards to deciding who to put money behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have a truly simple guideline, Ryan. If I don't comprehend something, I put up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).