teeka tiwari 12 second trade
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But scams and little scams. And there's something that a fraud always does: it constantly goes to no. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The enormous hack. Which woke something up for me.
Therefore I can't neglect that. I've got to go dig much deeper." Therefore I started 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 area. And what I realized is that Blockchain technology and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of being able to have data that we don't require to have it independently confirmed, it's cryptographically verified. That principle can ripple out throughout the whole greater economy. And when that cent dropped, I knew I needed to devote all my expert resources into becoming a professional in this area.
And do you think, I indicate you mentioned something there about not having to get a third-party, or intermediary to validate 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 fully comprehend recognition process . undefined.
We were simply talking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other people getting alerted about it, like the IRS and things like that. Do you believe that the average folks don't perhaps understand about these processes, so they don't perhaps see what you're saying as this advancement, they don't 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 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 publish your identity files, then you have actually got to wait to get verified, and after that finally, you can go purchase some Bitcoin.
So, a lot of individuals discover that too inconvenient, and that's why the people that are actually making the most amount of cash today in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes needed to go through a process which simply takes 5 minutes if you wish to set up a brokerage account.
"Oh Teeka, we enjoy your concepts, but gosh, setting up a crypto account is so hard." 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 entire cryptocurrency market will be 10x bigger. So you're actually really getting paid a huge quantity of cash to go through perhaps, you understand, 20 minutes of a headache.
So you can't buy Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll be able to purchase cryptocurrencies directly through your trading software application. And can you envision what will happen to this whole market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Right now you mentioned the process that people go through, and something I wish to bring to light too that you didn't mention, however I understand a lot of folks who have problem with this too, is oh, and by the way, 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 purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I mean, 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 indicate it would take 20 minutes to load 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 remain in the early days of that innovation, but simply like throughout that amount of time, for the folks that had the vision to see where the future was going, and then bought in on some of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, due to the fact that I'm constantly curious to talk to individuals who are, specifically someone like yourself, who's devoted the last, you know, the bulk of the last couple of years to actually go both feet in on this. How do you explain cryptocurrency to like a typical person? That's an excellent question.
They're two completely different 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. Therefore what offers it worth is that it is, there's only 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, people continuously attempt to hack it. But since of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
And so when people put, you have actually got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We do not rely on paper currency, you can print an unrestricted amount of it. It's actually not protect, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , go ahead.
Yeah. Or individuals that were in Cypress, or simply individuals who have actually suffered through either devaluation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a catalyst for more adoption, since they already 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 hard time getting their head around. They're like, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - Yeah. Therefore 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 used, let's state Ethereum, which a great deal of individuals know about Ethereum. Ethereum is basically an international computer that you can compose computer system programs for and run computer programs on an internationally decentralized computer program.
So we think about something like Ether an utility token, since you're basically buying programming power. So I would not actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide individuals an idea, like a really basic one that I would envision 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 kind of this very same type of network effect that you have with Bitcoin, where it's like unstoppable example, because it's on numerous different locations and. And you sort of pointed out having this boots on the ground experience. Now, since we're looking at the bulk of these are most likely energy based, remedy? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a couple of cryptocurrencies, but I think the genuine opportunity depends on the energy coin space.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a couple of 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 require to understand that not all utility coins are produced equivalent.
So you have the benefit of dedicating your occupation to this, so you can go out there and do the reconnaissance, you can meet the creators, you can examine the code, and so on. However for an average person, there's now what, over 1,000 various types of coins available, practically 1,200 I believe. 'Cause typically it'll crash 80% approximately - Does the team have experience of executing in a successful manner in another location of their life? And it does not even have to be straight associated to cryptocurrency, it doesn't need to be even directly associated to software, right? So, but I want to see a performance history of success in something, right? If it's 4 people in a space that are simply out of college, unless they've got some actually good consultants behind them, I'm most likely not going to provide any money.
Yeah. I believe that in marketing in general, my world of organization, we continuously search for problems and how we can resolve them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain typically? Or would you state it's much 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 services that, so I'll provide you an example.
And the reason that we purchased it is since 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 guy that started it has a performance history of producing computer programs that whole states run their whole operations on, right? So you have actually got fine, the wise guy has actually built big computer system programs, excellent group, resolving 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 cash behind. And a lot of this is common sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly basic rule, Ryan. If I don't comprehend something, I set up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).