cryptocurrency teeka tiwari
crypto predictions 2018 teeka tiwari
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But frauds and little frauds. And there's something that a fraud constantly 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 disregard that. I've got to go dig deeper." And so I began traveling all around the world. I started going to Bitcoin occasions; I started to speaking to people that were smarter than me in this area. And what I understood is that Blockchain technology and the implementation of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how enormous that is! The ramifications of that, of having the ability to have data that we don't require to have it independently confirmed, it's cryptographically verified. That idea can ripple out throughout the whole greater economy. And when that penny dropped, I knew I had to devote all my professional resources into becoming a specialist in this area.
And do you believe, I mean you pointed out 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 great deal of folks may not even fully comprehend validation process . We were just discussing how I'm leaving to go to China, to China. And paradise prohibited it's over $10,000, and after that all of a sudden there's other individuals getting alerted about it, like the IRS and things like that. Do you believe that the average folks do not maybe understand about these processes, so they do not maybe see what you're saying as this advancement, they do not see it in their daily life? Or what do you think of that? I believe that's 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've 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 great deal of individuals discover that too bothersome, and that's why the individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: individuals that want to put in perhaps the 20 minutes needed to go through a procedure which just takes 5 minutes if you want to set up a brokerage account.
"Oh Teeka, we like your ideas, however gosh, establishing a crypto account is so difficult." What I tell them is I state, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The whole cryptocurrency market will be 10x bigger. So you're actually really making money an enormous quantity of cash to go through possibly, you understand, 20 minutes of a pain in the neck.
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 imagine what will occur to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Right now you mentioned the process that people go through, and one thing I desire to expose too that you didn't mention, however I know a lot of folks who have a hard time with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just buy $500 a week.
As tough as possible, best, like Coinbase. It 'd take me permanently before I might start 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 Internet, when we were getting on the Web, we were doing it with 56k modems, right? I indicate 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, 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 a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, since I'm always curious to talk with people who are, specifically somebody like yourself, who's devoted 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 a great concern.
They're 2 completely various things, but 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. And so what offers it worth is that it is, there's just going to be a minimal quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people continuously try to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And really, with existing technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
And so when people put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not trust paper currency, you can print a limitless quantity of it. It's truly not secure, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , go on.
Yeah. Or people that remained in Cypress, or just individuals who have 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, due to the fact that they already do not think in their own currency? Yeah, and I believe we have actually currently 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 need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin - Yeah. And so there's this whole blossoming worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are essentially utilized, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially an international 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 utility token, due to the fact that you're basically purchasing programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer individuals an idea, like a really simple one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's kind of this same kind of network result that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on a lot of various areas and. undefined. I do not understand the ins and outs of it, but as an example for someone who may just be extremely basic in their understanding of this, there are many different types of utilities that are offered.
And you type of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are most likely utility based, correct? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, but I think the real chance lies in the energy coin space.
There's all of these ICOs that were taking place, those decreased a bit with some changes to a few things that was going on, but individuals are going to come out of the woodwork and start to create energy coins- Correct, yeah. And individuals need to understand that not all utility coins are created equivalent.
So you have the benefit of devoting your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the founders, you can check the code, and so on. However for a typical individual, there's now what, over 1,000 various types of coins available, nearly 1,200 I think. 'Cause usually it'll crash 80% or two - Does the group have experience of performing in an effective manner in another area of their life? And it does not even need to be straight related to cryptocurrency, it doesn't need to be even straight related to software, right? So, but I want to see a performance history of success in something, right? If it's four people in a space that are just out of college, unless they have actually got some truly good consultants behind them, I'm most likely not going to provide any cash.
Yeah. I think that in marketing in basic, my world of organization, we constantly search for problems and how we can resolve them. Now, are the problems things that people are attempting to solve a part of the Blockchain usually? Or would you state it's 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 basically looking for solutions that, so I'll give you an example.
And the factor that we bought it is due to the fact that they found a way to make files tamper-proof, and it's 99% more affordable than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the guy that started it has a track record of developing computer programs that whole states run their entire operations on, right? So you've got alright, the smart guy has built substantial computer programs, fantastic team, fixing a massive problem that is going to cut big costs.
I imply, it doesn't get any easier than that in terms of choosing who to put money behind. And a lot of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have a really easy guideline, Ryan. If I do not understand something, I put up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).