cyrptoshow.com teeka tiwari
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However scams and little scams. 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 huge hack. And that woke something up for me.
Therefore I can't ignore that. I have actually got to go dig deeper." And so I began traveling all around the world. I started going to Bitcoin events; I started to talking to people that were smarter than me in this space. And what I realized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how huge that is! The implications of that, of being able to have information that we do not need to have it individually verified, it's cryptographically validated. That idea can ripple out throughout the entire higher economy. And when that cent dropped, I understood I needed to commit all my professional resources into becoming a professional in this area.
And do you think, I indicate you pointed out 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 lot of folks may not even fully comprehend recognition process . We were just speaking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then all of an unexpected there's other individuals getting notified about it, like the IRS and things like that. Do you think that the typical folks don't possibly learn about these processes, so they don't possibly see what you're saying as this development, they do not see it in their daily life? Or what do you think of that? I think that holds true.
It's not as simple as shooting up a web internet browser and going to e-trade. com and pressing 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 verified, and after that finally, you can go purchase some Bitcoin.
So, a lot of individuals find that too inconvenient, and that's why the individuals that are literally making the most amount of money right now in cryptocurrencies are the early adopters: individuals that are ready to put in perhaps the 20 minutes needed to go through a process which just takes five minutes if you want to establish a brokerage account.
"Oh Teeka, we enjoy your concepts, however gosh, setting up a crypto account is so challenging." What I inform 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 in fact really getting paid a massive amount of money to go through maybe, you understand, 20 minutes of a discomfort 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 directly through your trading software. And can you imagine what will happen to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Right now you discussed the procedure that people go through, and something I wish to bring to light too that you didn't point out, but I understand a great deal of folks who deal with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can only purchase $500 a week.
As tough as possible, right, like Coinbase. It 'd take me permanently before I could begin buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I imply, 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 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're in the early days of that innovation, however similar to throughout that amount of time, 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 constantly curious to speak with individuals who are, specifically someone like yourself, who's committed the last, you know, the much better part of the last couple of years to really go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's a fantastic concern.
They're two completely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to cash. So Bitcoin would be a cryptocurrency. And so what offers it value is that it is, there's only going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
Therefore when individuals 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 fiat money, you can print a limitless amount of it. It's really not protect, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , proceed.
Yeah. Or people that remained in Cypress, or just individuals who have suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations 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 already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a tough time getting their head around. They resemble, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - undefined. But there are billions of individuals on the planet that do not have stable currencies.
Yeah. Therefore there's this entire blossoming worldwide demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And energy coins are basically used, let's state Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is basically 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 utility token, since you're essentially purchasing shows power. So I wouldn't really consider 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 really simple one that I would picture you 'd called an energy token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's type of this very same kind of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on many different locations and. And you sort of mentioned having this boots on the ground experience. Now, because 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 suggest and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine chance lies in the utility coin space.
There's all of these ICOs that were happening, those decreased a little bit with some changes to a few 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 require to understand that not all energy coins are produced equal.
So you have the advantage of devoting your profession to this, so you can go out there and do the reconnaissance, you can fulfill the creators, you can inspect the code, etc. However for an average person, there's now what, over 1,000 different types of coins available, nearly 1,200 I believe. 'Cause typically it'll crash 80% or so - Does the group have experience of performing in a successful manner in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it does not need to be even directly related to software application, right? So, but I desire to see a performance history of success in something, right? If it's 4 guys in a room that are just out of college, unless they've got some really great consultants behind them, I'm probably not going to provide any money.
Yeah. I believe that in marketing in general, my world of service, we continuously search for issues and how we can solve them. Now, are the problems things that people are attempting to solve a part of the Blockchain usually? Or would you say it's 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 basically searching for options that, so I'll give you an example.
And the factor that we bought it is since they found a way to make documents 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 began it has a performance history of creating computer programs that entire states run their whole operations on, right? So you've got all right, the clever guy has actually constructed big computer system programs, excellent team, fixing an enormous issue that is going to cut substantial costs.
I imply, it does not get any easier than that in terms of choosing who to put cash behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complex than it is. And I have a truly basic rule, Ryan. If I don't understand something, I installed my hand, and I state, "I didn't comprehend what you simply said." Mm-hmm (affirmative).