training videos from teeka tiwari
teeka tiwari.
|
But scams and small frauds. And there's one thing that a fraud constantly 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." And so I began taking a trip all around the world. I started going to Bitcoin occasions; I started to talking to individuals that were smarter than me in this area. And what I realized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how massive that is! The implications of that, of having the ability to have information that we do not need to have it separately validated, it's cryptographically validated. That idea can ripple out throughout the whole greater economy. And when that penny dropped, I knew I needed to commit all my professional resources into ending up being a specialist in this space.
And do you think, I suggest you discussed something there about not needing to get a third-party, or intermediary to confirm 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 completely comprehend validation 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 individuals getting informed about it, like the IRS and things like that. Do you think that the typical folks don't perhaps know about these processes, so they don't perhaps 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 believe that holds true.
It's not as easy as firing up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You've got to go to an exchange, you've got to publish your identity files, then you've got to wait to get validated, and then finally, you can go purchase some Bitcoin.
So, a great deal of people find that too bothersome, and that's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes required to go through a procedure which simply takes five minutes if you wish to establish a brokerage account.
"Oh Teeka, we enjoy your concepts, however gosh, setting up a crypto account is so hard." 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 really earning money a massive quantity of money to go through perhaps, you know, 20 minutes of a nuisance.
So you can't buy Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software application. And can you envision what will occur to this whole market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Right now you discussed the procedure that individuals go through, and one thing I wish to bring to light too that you didn't discuss, but I know a lot of folks who have a hard time with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me forever before I might begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I indicate, it's if you remember the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I imply 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 imply, we're in the early days of that technology, but much like throughout that time period, 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 business, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm always curious to speak with people who are, particularly someone like yourself, who's devoted the last, you understand, the bulk of the last couple of years to truly go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's a fantastic question.
They're two absolutely different 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 provides it worth is that it is, there's just going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the deals on the Bitcoin network. Therefore if you look at that Bitcoin network, people constantly attempt to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
Therefore when people put, you've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't trust paper currency, you can print an endless amount of it. It's really not secure, and the government can take it away from you." - Whereas with Bitcoin, best , go ahead.
Yeah. Or people that were in Cypress, or simply people who have suffered through either hyperinflation, 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, since they currently do not believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a hard time getting their head around. They resemble, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin - undefined. But there are billions of individuals on the planet that do not have stable currencies.
Yeah. And so there's this entire growing international demand 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 great deal of people learn about Ethereum. Ethereum is basically a worldwide computer that you can write computer system programs for and run computer system programs on an internationally decentralized computer system program.
So we consider something like Ether an utility token, since you're basically purchasing 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 give people an idea, like an extremely easy one that I would envision you 'd called an energy token, resembles FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's type of this same kind of network impact that you have with Bitcoin, where it resembles unstoppable example, since it's on so many different areas and. And you type of pointed out having this boots on the ground experience. Now, because we're taking a look at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). Many of the coins that I advise and look at are utility-based. We have a few cryptocurrencies, but I think the genuine opportunity depends on the energy coin space.
There's all of these ICOs that were happening, those decreased a little bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And individuals require to comprehend that not all energy coins are produced equivalent.
So you have the advantage of devoting your profession to this, so you can go out there and do the recon, you can fulfill the creators, you can check the code, etc. But for an average person, there's now what, over 1,000 various kinds of coins offered, practically 1,200 I think. 'Cause normally it'll crash 80% or so - Does the group have experience of executing in a successful way in another area of their life? And it does not even need to be directly related to cryptocurrency, it does not have to be even straight associated to software, right? So, however I wish to see a track record of success in something, right? If it's four people in a space that are just out of college, unless they've got some truly great advisors behind them, I'm probably not going to provide any money.
Yeah. I believe that in marketing in general, my world of business, we constantly try to find problems and how we can solve them. Now, are the issues things that people are trying to fix a part of the Blockchain usually? Or would you say it's much better if they're solving 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 essentially looking for options that, so I'll provide you an example.
And the factor that we bought it is because they discovered a method to make documents 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 entire states run their entire operations on, right? So you've got okay, the wise guy has developed big computer programs, terrific group, fixing an enormous problem that is going to cut substantial expenses.
I suggest, it does not get any easier than that in terms of deciding who to put money behind. And a great deal of this prevails sense, and a great deal of folks will try to make things more complicated than it is. And I have a really simple guideline, Ryan. If I do not understand something, I installed my hand, and I state, "I didn't comprehend what you just said." Mm-hmm (affirmative).