5 coins to 5 millions review teeka tiwari
teeka tiwari on market manipulation
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But scams and little frauds. And there's one thing that a scams constantly does: it constantly 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 huge hack. And that woke something up for me.
And so I can't overlook that. I have actually got to go dig deeper." And so I began taking a trip all around the world. I began going to Bitcoin occasions; I began to talking to people that were smarter than me in this space. And what I recognized is that Blockchain technology and the application of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The implications of that, of having the ability to have information that we don't require to have it individually verified, it's cryptographically validated. That idea can ripple out throughout the entire greater economy. And when that cent dropped, I understood I had to dedicate all my expert resources into becoming a professional in this area.
And do you think, I imply you discussed something there about not having to get a third-party, or intermediary to validate 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 completely comprehend recognition process . We were simply discussing how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and then suddenly there's other individuals getting notified about it, like the IRS and things like that. Do you think that the typical folks do not perhaps understand 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 believe that holds true.
It's not as easy as shooting 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've got to upload your identity files, then you've got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a lot of individuals find that too troublesome, which's why individuals that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in perhaps the 20 minutes required to go through a procedure which simply takes 5 minutes if you want to set up a brokerage account.
"Oh Teeka, we enjoy your concepts, however gosh, establishing a crypto account is so tough." What I tell them is I say, "Look, when it's easy 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 in fact truly getting paid a massive amount of money to go through perhaps, you know, 20 minutes of a headache.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies directly through your trading software. And can you envision what will happen to this entire marketplace 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 people go through, and one thing I wish to bring to light too that you didn't mention, but I know a great deal of folks who have a hard time with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can only buy $500 a week.
As hard as possible, right, like Coinbase. It 'd take me permanently prior to I might start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I indicate, 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 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 mean, we're in the early days of that technology, however just like during 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 an action back for a second, because I'm always curious to talk with individuals who are, specifically somebody like yourself, who's devoted the last, you know, the lion's share of the last few years to really go both feet in on this. How do you describe cryptocurrency to like a typical individual? That's a fantastic concern.
They're 2 totally various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what offers it value 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, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals constantly try 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 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 actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't trust paper currency, you can print an endless amount of it. It's really not protect, and the federal government can take it away from you." - Whereas with Bitcoin, best , go ahead.
Yeah. Or people that were in Cypress, or just people who have actually suffered through either run-away inflation, or there's a high demand for, in Argentina for instance, 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 already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride 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 steady currency, right? You don't need Bitcoin - Yeah. Therefore there's this entire burgeoning global 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 say Ethereum, which a lot of people understand about Ethereum. Ethereum is basically a worldwide 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 energy token, since you're basically buying programs power. So I would not actually think about 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 basic one that I would imagine 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 kind of thing, due to the fact that it's on a lot of different locations and. And you kind of discussed having this boots on the ground experience. Now, considering that we're looking at the bulk of these are most likely utility based, correct? Mm-hmm (affirmative). Many of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine chance lies in the energy coin area.
There's all of these ICOs that were taking place, those decreased a bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And people need to understand that not all energy coins are created equal.
So you have the advantage of committing your profession to this, so you can head out there and do the reconnaissance, you can satisfy the creators, you can check the code, and so on. But for a typical individual, there's now what, over 1,000 various types of coins offered, nearly 1,200 I believe. 'Cause usually it'll crash 80% approximately - Does the team have experience of performing in a successful manner in another area of their life? And it doesn't even need to be directly associated to cryptocurrency, it doesn't have to be even straight associated to software application, right? So, however I desire to see a performance history of success in something, right? If it's four people in a room that are simply out of college, unless they have actually got some really good advisors behind them, I'm probably not going to provide any money.
Yeah. I think that in marketing in basic, my world of company, we constantly look for problems and how we can resolve them. Now, are the issues things that individuals are attempting to solve a part of the Blockchain generally? Or would you state it's better if they're solving 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 generally trying to find services that, so I'll provide you an example.
And the factor that we purchased it is because they discovered a way 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 after that on top of that, the guy that began it has a performance history of producing computer system programs that whole states run their entire operations on, right? So you've got all right, the wise guy has developed substantial computer programs, great team, solving a huge issue that is going to cut big expenses.
I indicate, it does not get any easier than that in regards to choosing 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 truly easy guideline, Ryan. If I don't comprehend something, I installed my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).