what teeka tiwari is saying about bitcoin and the stock market?
teeka tiwari parents biography
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However frauds and little frauds. And there's one thing that a scams always does: it always goes to no. But 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 ignore that. I've got to go dig much deeper." And so I started traveling all around the world. I started going to Bitcoin events; I started to talking with people that were smarter than me in this area. And what I understood is that Blockchain technology and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The implications of that, of being able to have information that we don't need to have it independently validated, it's cryptographically verified. That idea can ripple out throughout the entire greater economy. And when that penny dropped, I understood I needed to devote all my expert resources into ending up being an expert in this area.
And do you believe, I suggest you discussed something there about not having to get a third-party, or intermediary to verify something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a lot of folks might not even fully 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 then all of an abrupt there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the typical folks do not possibly understand about these processes, so they don't perhaps see what you're saying as this development, they don't see it in their everyday life? Or what do you think of that? I think that holds true.
It's not as simple as shooting up a web browser and going to e-trade. com and pushing a buy button and buying it, right? You have actually got to go to an exchange, you've got to submit your identity documents, then you have actually got to wait to get confirmed, and then lastly, you can go purchase some Bitcoin.
So, a great deal of people discover that too bothersome, and that's why individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that are willing to put in perhaps the 20 minutes required to go through a process which just takes 5 minutes if you wish to set up a brokerage account.
"Oh Teeka, we enjoy your ideas, but gosh, setting up a crypto account is so hard." 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 truly getting paid an enormous quantity of money to go through maybe, you understand, 20 minutes of a pain in the neck.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you picture what will take place to this entire market when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform.
Right now you discussed the procedure that people go through, and something I desire to bring to light too that you didn't discuss, but I understand a great deal of folks who fight with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can only purchase $500 a week.
As tough as possible, best, like Coinbase. It 'd take me permanently before I might begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I mean, it's if you remember 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 much like during 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 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, especially someone like yourself, who's dedicated the last, you understand, the better part of the last couple of years to truly go both feet in on this. How do you explain cryptocurrency to like an average individual? That's a great concern.
They're two absolutely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what gives it worth 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, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, 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 people who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not trust paper money, you can print an endless amount of it. It's truly not secure, and the federal government can take it far from you." - Whereas with Bitcoin, best , proceed.
Yeah. Or people that remained in Cypress, or simply people who have actually suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, because they already do not believe in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a difficult time getting their head around. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin - Yeah. And so there's this whole burgeoning international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And utility coins are generally used, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is essentially a global computer that you can write computer programs for and run computer system programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, because you're essentially purchasing 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 an extremely simple one that I would picture you 'd called an energy token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's type of this same type of network effect that you have with Bitcoin, where it resembles unstoppable kind of thing, because it's on a lot of different 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 most likely utility based, remedy? Mm-hmm (affirmative). Most 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 chance lies in the utility coin area.
There's all of these ICOs that were occurring, those slowed down a little bit with some modifications to a few things that was going on, but individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people require to comprehend that not all utility coins are developed equivalent.
So you have the benefit of devoting your occupation to this, so you can head out there and do the recon, you can fulfill the founders, you can inspect the code, and so on. However for an average individual, there's now what, over 1,000 different types of coins readily available, nearly 1,200 I think. 'Cause generally it'll crash 80% or two - Does the team have experience of executing in an effective manner in another location of their life? And it does not even need to be directly associated to cryptocurrency, it doesn't have to be even directly associated to software, right? So, but I want to see a track record of success in something, right? If it's four people in a space that are simply out of college, unless they've got some truly good consultants behind them, I'm probably not going to provide any money.
Yeah. I think that in marketing in general, my world of company, we constantly search for problems and how we can fix 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 resolving kind 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 looking for options that, so I'll offer you an example.
And the factor that we purchased it is since they discovered a method to make documents tamper-proof, and it's 99% less expensive than present technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that started it has a performance history of developing computer programs that whole states run their entire operations on, right? So you have actually got fine, the smart man has built huge computer programs, great team, fixing an enormous issue that is going to cut huge costs.
I mean, it doesn't get any easier than that in regards to choosing who to put cash behind. And a lot of this is typical sense, and a great deal of folks will try to make things more complicated than it is. And I have an actually basic rule, Ryan. If I do not comprehend something, I set up my hand, and I say, "I didn't understand what you just said." Mm-hmm (affirmative).