teeka tiwari forexvestor
teeka tiwari april
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But frauds and little scams. And there's something that a scams always does: it constantly goes to absolutely no. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The massive hack. Which woke something up for me.
Therefore I can't ignore that. I have actually got to go dig much deeper." Therefore I began traveling all around the world. I started going to Bitcoin occasions; I started to talking with people that were smarter than me in this area. And what I understood is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how massive that is! The implications of that, of being able to have information that we do not need to have it separately validated, it's cryptographically confirmed. That idea can ripple out throughout the whole higher economy. And when that cent dropped, I understood I had to devote all my professional resources into becoming a professional in this space.
And do you believe, I indicate you mentioned something there about not having to get a third-party, or intermediary to confirm 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 comprehend recognition process . We were simply talking 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 people getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks do not maybe understand about these procedures, so they do not maybe see what you're stating as this breakthrough, they don't see it in their daily life? Or what do you think of that? I think that's true.
It's not as simple as shooting 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 upload 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 inconvenient, and that's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes needed to go through a process which simply takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so tough." What I tell them is I say, "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 really making money a massive quantity of money to go through maybe, you understand, 20 minutes of a nuisance.
So you can't buy Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software. And can you imagine what will occur to this entire market when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform.
Right now you pointed out the procedure that people go through, and one thing I want to expose too that you didn't discuss, but I know a lot of folks who have problem with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As tough as possible, best, like Coinbase. It 'd take me forever before I could begin buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I imply, it's if you keep in mind the early days of the Web, when we were getting on the Internet, 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 much like throughout that time period, for the folks that had the vision to see where the future was going, and after that bought in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm constantly curious to talk with people who are, especially someone like yourself, who's committed the last, you understand, the bulk of the last few years to really go both feet in on this. How do you describe cryptocurrency to like an average person? That's an excellent question.
They're two totally various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what gives it value is that it is, there's just going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals constantly attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And truly, with current innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
Therefore when people put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We don't trust paper currency, you can print a limitless amount of it. It's truly not protect, and the federal government can take it away from you." - Whereas with Bitcoin, right , go on.
Yeah. Or individuals that remained in Cypress, or just individuals who have suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, because 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 great deal of American or Western investors have a bumpy ride getting their head around. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin - Yeah. And so there's this entire growing global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And energy coins are essentially utilized, let's say Ethereum, which a lot of people understand about Ethereum. Ethereum is basically a worldwide computer system that you can write computer system programs for and run computer programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, since you're basically purchasing programs power. So I wouldn't really consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer people an idea, like a really easy one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's type of this exact same type of network result that you have with Bitcoin, where it's like 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, given that we're looking at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). The majority of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, however I believe the genuine opportunity depends on the energy coin area.
There's all of these ICOs that were taking place, those slowed down a bit with some changes to a few things that was going on, however people are going to come out of the woodwork and start to create energy coins- Correct, yeah. And people need to understand that not all energy coins are created equal.
So you have the benefit of dedicating your profession to this, so you can go out there and do the recon, you can satisfy the founders, you can check the code, etc. But for an average individual, there's now what, over 1,000 different kinds of coins offered, nearly 1,200 I think. 'Cause typically it'll crash 80% or so - Does the team have experience of carrying out in a successful manner in another location of their life? And it does not even need to be directly related to cryptocurrency, it doesn't have to be even directly related to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 men in a room that are just out of college, unless they've got some actually excellent advisors behind them, I'm probably not going to give them any money.
Yeah. I believe that in marketing in basic, my world of service, we constantly search for problems and how we can resolve them. Now, are the issues things that people are attempting to solve a part of the Blockchain generally? Or would you state it's much better if they're resolving type 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 looking for solutions that, so I'll provide you an example.
And the factor that we bought it is due to the fact that they discovered a method to make files tamper-proof, and it's 99% cheaper than present technology, 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 whole states run their entire operations on, right? So you've got okay, the clever man has actually constructed huge computer programs, fantastic group, solving an enormous issue that is going to cut substantial costs.
I mean, it doesn't get any easier than that in regards to deciding who to put money behind. And a lot of this prevails sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a truly basic rule, Ryan. If I do not comprehend something, I set up my hand, and I say, "I didn't comprehend what you just said." Mm-hmm (affirmative).