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teeka tiwari bitcoin price prediction
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But frauds and small scams. And there's something that a fraud always does: it always goes to zero. 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. And that woke something up for me.
Therefore I can't neglect that. I've got to go dig deeper." And so I began traveling all around the world. I began going to Bitcoin occasions; I started to speaking with people that were smarter than me in this area. And what I realized is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how massive that is! The implications of that, of being able to have information that we don't require to have it separately confirmed, it's cryptographically verified. That idea can ripple out throughout the whole greater economy. And when that cent dropped, I knew I had to dedicate all my professional resources into ending up being an expert in this space.
And do you believe, I indicate you mentioned something there about not having 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 may not even fully comprehend recognition process . We were just discussing 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 informed about it, like the IRS and things like that. Do you believe that the typical folks do not possibly understand about these procedures, so they do not perhaps see what you're stating as this breakthrough, 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 simple as firing up a web internet browser and going to e-trade. com and pressing a buy button and purchasing it, right? You have actually got to go to an exchange, you've got to submit your identity documents, then you've got to wait to get verified, and then finally, you can go buy some Bitcoin.
So, a lot of individuals find that too bothersome, and that's why the people 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 needed to go through a process which just takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we enjoy your concepts, but gosh, establishing a crypto account is so difficult." 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 entire cryptocurrency market will be 10x bigger. So you're actually really getting paid an enormous quantity of money 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 question of time, Ryan, before you'll have the ability to buy cryptocurrencies straight through your trading software. And can you picture what will take place to this whole market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Today you mentioned the procedure that individuals go through, and one thing I want to bring to light too that you didn't point out, however I understand a great deal of folks who deal with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only purchase $500 a week.
As hard as possible, right, like Coinbase. It 'd take me forever before I could start buying in size on Coinbase. They're like, 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 Internet, 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 imply, we're in the early days of that technology, however similar to throughout that amount of time, 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 absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, due to the fact that I'm always curious to talk to people who are, especially somebody like yourself, who's devoted the last, you understand, the bulk of the last couple of years to actually go both feet in on this. How do you describe cryptocurrency to like an average person? That's a fantastic question.
They're two completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. 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 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 look at that Bitcoin network, individuals continuously attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And really, with current technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
Therefore when people put, you have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not rely on paper money, you can print an endless amount of it. It's truly not secure, and the government can take it away from you." - Whereas with Bitcoin, right , go on.
Yeah. Or individuals that were in Cypress, or simply people who have suffered through either devaluation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, due to the fact that they already do not believe in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride 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 steady currency, right? You don't require Bitcoin - Yeah. And so there's this entire blossoming international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are basically utilized, let's state 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 an internationally decentralized computer system program.
So we think about something like Ether an energy 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 provide individuals a concept, like a very simple one that I would picture you 'd called an energy token, resembles FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable example, since it's on numerous different locations and. And you kind of mentioned having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably energy based, correct? 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 real opportunity lies in the utility coin area.
There's all of these ICOs that were occurring, those slowed down a little bit with some modifications to a couple of things that was going on, but people are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And people require to understand that not all utility coins are created equal.
So you have the advantage of committing your occupation to this, so you can head out there and do the reconnaissance, you can satisfy the founders, you can examine the code, and so on. However for an average individual, there's now what, over 1,000 various kinds of coins readily available, nearly 1,200 I think. 'Cause typically it'll crash 80% or so - Does the team have experience of executing in a successful manner in another location of their life? And it doesn't even have to be directly associated to cryptocurrency, it does not need to be even straight associated 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 excellent advisors behind them, I'm most likely not going to provide them any money.
Yeah. I think that in marketing in basic, my world of business, we continuously look for problems and how we can fix them. Now, are the problems things that individuals are attempting to fix a part of the Blockchain normally? Or would you say it's much better if they're resolving 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 basically trying to find options that, so I'll give you an example.
And the reason that we bought it is because they discovered a method to make documents tamper-proof, and it's 99% less expensive than current 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 producing computer programs that whole states run their whole operations on, right? So you've got fine, the smart man has actually constructed substantial computer system programs, fantastic group, fixing a massive problem that is going to cut big expenses.
I indicate, it doesn't get any simpler than that in regards to choosing who to put money behind. And a great deal of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have a truly simple guideline, Ryan. If I don't understand something, I put up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).