teeka tiwari 2020 pick
teeka tiwari palm beach - immediate pension plan
|
But scams and small frauds. And there's one thing that a fraud always does: it always goes to absolutely 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 overlook that. I have actually got to go dig deeper." And so I started traveling all around the world. I started going to Bitcoin occasions; I began to speaking to people that were smarter than me in this area. And what I recognized is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of having the ability to have information that we don't require to have it individually confirmed, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I understood I had to commit all my professional resources into becoming a specialist in this area.
And do you believe, I imply you mentioned something there about not needing 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 may not even totally comprehend validation procedure . We were just talking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and after that suddenly there's other people getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not maybe understand about these procedures, so they don't maybe see what you're stating as this breakthrough, they don't see it in their everyday life? Or what do you think of that? I believe that holds true.
It's not as simple as shooting up a web 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 have actually got to upload your identity files, then you've got to wait to get confirmed, and after that finally, you can go buy some Bitcoin.
So, a great deal of individuals find that too troublesome, and that's why the individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes needed to go through a process which just takes 5 minutes if you desire to set up a brokerage account.
"Oh Teeka, we enjoy your ideas, however gosh, establishing a crypto account is so tough." What I inform them is I state, "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 larger. So you're in fact really earning money an enormous amount of money to go through possibly, you understand, 20 minutes of a headache.
So you can't purchase Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, prior to you'll be able to purchase cryptocurrencies straight through your trading software application. And can you picture what will take place to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Right now you discussed the procedure that people go through, and something I want to expose too that you didn't point out, 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 buy $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me forever before I could begin purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I suggest, 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 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, however just like throughout that period of time, for the folks that had the vision to see where the future was going, and then purchased in on a few of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm always curious to talk to individuals who are, especially somebody like yourself, who's dedicated the last, you know, the bulk of the last few years to really go both feet in on this. How do you explain cryptocurrency to like an average person? That's a great concern.
They're two completely various things, however 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. Therefore what provides it worth is that it is, there's only going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals continuously attempt to hack it. However since of the nature of the network, today it's been unhackable. And actually, with present technology, 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 individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't trust fiat money, you can print a limitless amount of it. It's truly not secure, and the federal government can take it away from you." - Whereas with Bitcoin, best , proceed.
Yeah. Or individuals that were in Cypress, or simply individuals who have actually 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 nations that could potentially be a catalyst for more adoption, because they already don't believe in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western investors have a bumpy ride getting their head around. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not require Bitcoin - undefined. However there are billions of people on the planet that do not have steady currencies.
Yeah. And so there's this whole growing global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And utility coins are basically used, let's state Ethereum, which a lot of people learn about Ethereum. Ethereum is essentially an international computer that you can write computer programs for and run computer system programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, because you're essentially buying programs power. So I wouldn't actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to offer individuals a concept, like a really basic one that I would imagine 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 same kind of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on a lot of different areas and. And you sort 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, fix? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I think the real chance depends on the energy coin area.
There's all of these ICOs that were happening, those decreased a bit with some changes to a few things that was going on, but people are going to come out of the woodwork and start to develop energy coins- Correct, yeah. And people need to comprehend that not all utility coins are developed equivalent.
So you have the advantage of dedicating your profession to this, so you can go out there and do the recon, you can satisfy the creators, you can examine the code, etc. But for an average person, there's now what, over 1,000 different types of coins available, nearly 1,200 I believe. 'Cause usually it'll crash 80% approximately - Does the group have experience of carrying out in a successful way in another location of their life? And it does not even have to be directly related to cryptocurrency, it doesn't have to be even straight associated to software application, right? So, however I wish to see a track record of success in something, right? If it's 4 men in a room that are simply out of college, unless they have actually got some truly good consultants behind them, I'm probably not going to provide any money.
Yeah. I think that in marketing in basic, my world of business, we constantly search for issues and how we can resolve them. Now, are the issues things that people are trying to resolve a part of the Blockchain normally? Or would you state it's better if they're resolving type 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 looking for options 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% more affordable than current technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a track record of producing computer programs that entire states run their entire operations on, right? So you've got alright, the smart man has constructed big computer system programs, terrific team, fixing an enormous issue that is going to cut substantial expenses.
I suggest, it does not get any simpler than that in regards to deciding who to put cash behind. And a lot of this prevails sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly basic guideline, Ryan. If I don't comprehend something, I put up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).