glenn beck bitcoin teeka tiwari
teeka tiwari and judge jeanine
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But scams and little frauds. And there's one thing that a fraud constantly does: it always 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. And that woke something up for me.
Therefore I can't ignore that. I've got to go dig much deeper." Therefore I started taking a trip all around the world. I started going to Bitcoin events; I began to speaking with people that were smarter than me in this area. And what I understood is that Blockchain technology and the execution of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of being able to have data that we do not need to have it independently confirmed, it's cryptographically validated. That concept can ripple out throughout the whole higher economy. And when that cent dropped, I understood I needed to devote all my professional resources into ending up being an expert in this space.
And do you believe, I mean you discussed something there about not needing to get a third-party, or intermediary to confirm 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 completely comprehend validation procedure . We were just talking about how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and after that all of an unexpected there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not perhaps understand about these processes, so they don't possibly see what you're saying as this breakthrough, they don't see it in their everyday life? Or what do you think about that? I think that's true.
It's not as easy as firing up a web browser and going to e-trade. com and pressing a buy button and purchasing it, right? You have actually got to go to an exchange, you have actually got to publish your identity documents, then you have actually got to wait to get verified, and then finally, you can go purchase some Bitcoin.
So, a lot of people discover that too troublesome, which's why the people that are literally making the most amount of cash today 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 wish to establish a brokerage account.
"Oh Teeka, we enjoy your concepts, but gosh, establishing a crypto account is so hard." What I inform 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 larger. So you're in fact truly making money a massive amount of cash to go through maybe, you understand, 20 minutes of a headache.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern 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 whole marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Today you discussed the process that people go through, and one thing I want to bring to light too that you didn't point out, but I know 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 difficult as possible, best, like Coinbase. It 'd take me permanently prior to I could begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka. I indicate, it's if you keep in mind 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 load a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I indicate, we're in the early days of that technology, but similar to during that duration 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 2nd, since I'm always curious to speak with individuals who are, especially somebody like yourself, who's devoted the last, you understand, the lion's share of the last couple of years to actually go both feet in on this. How do you explain cryptocurrency to like an average person? That's an excellent question.
They're 2 completely different things, however 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 provides it value is that it is, there's just going to be a restricted amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals constantly try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And really, with existing innovation, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
And so when individuals put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're saying, "We don't trust paper cash, you can print an endless quantity of it. It's really not secure, and the government can take it far from you." - Whereas with Bitcoin, best , go on.
Yeah. Or individuals that remained in Cypress, or simply people who have actually suffered through either run-away inflation, 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 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 hard time getting their head around. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin - Yeah. And so there's this entire burgeoning global 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 lot of people learn about Ethereum. Ethereum is essentially a global computer that you can compose computer system programs for and run computer system programs on an internationally decentralized computer system program.
So we think about something like Ether an energy token, due to the fact that you're basically buying programs power. So I wouldn't really think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give individuals an idea, like a very easy one that I would picture you 'd called an energy token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's kind of this very same type of network result that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on numerous various locations and. And you kind of pointed out having this boots on the ground experience. Now, given that we're looking at the bulk of these are probably energy based, remedy? 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, however I believe the genuine opportunity depends on the energy coin space.
There's all of these ICOs that were taking place, those slowed down a bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and begin to develop energy coins- Correct, yeah. And individuals require to understand that not all utility coins are created equal.
So you have the benefit of dedicating your occupation to this, so you can go out there and do the reconnaissance, you can fulfill the creators, you can inspect the code, etc. But for a typical individual, there's now what, over 1,000 different kinds of coins available, almost 1,200 I think. 'Cause normally it'll crash 80% or two - undefined. And that's when we actually start taking a look at the concept in more information. So here are some fast and filthy things that you should look at, right? So, one is, are they fixing a problem that requires to be fixed? Among the huge downsides with extremely smart, technical individuals, is that they like to solve issues that no one appreciates fixing.
Does the team have experience of carrying out in a successful way 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 straight related to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 guys in a space that are just out of college, unless they've got some actually good consultants behind them, I'm probably not going to give them any cash.
Yeah. I believe that in marketing in general, my world of business, we constantly look for problems and how we can solve them. Now, are the issues things that people are attempting to fix a part of the Blockchain typically? 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 essentially searching for services that, so I'll provide you an example.
And the factor that we purchased it is since they discovered a way to make files tamper-proof, and it's 99% cheaper than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that began it has a track record of producing computer programs that whole states run their whole operations on, right? So you've got okay, the smart man has built substantial computer system programs, excellent group, solving a massive issue that is going to cut big expenses.
I imply, it doesn't get any easier than that in regards to choosing who to put money behind. And a lot of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have an actually easy guideline, Ryan. If I don't comprehend something, I put up my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).