is teeka tiwari an honest player
teeka tiwari origin
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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 bad news came out. The huge hack. Which woke something up for me.
Therefore I can't overlook that. I've got to go dig deeper." Therefore I began traveling all around the world. I began going to Bitcoin occasions; I started to speaking with individuals that were smarter than me in this area. And what I realized is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how massive that is! The ramifications of that, of being able to have data that we don't require to have it separately validated, it's cryptographically validated. That concept can ripple out throughout the entire greater economy. And when that penny dropped, I understood I needed to dedicate all my expert resources into becoming an expert in this space.
And do you think, I imply you mentioned something there about not needing to get a third-party, or intermediary to confirm 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 totally comprehend recognition procedure . We were just speaking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and then all of a sudden there's other individuals getting alerted about it, like the IRS and things like that. Do you think that the typical folks do not possibly understand about these processes, so they don't perhaps see what you're stating as this breakthrough, they do not see it in their everyday life? Or what do you consider that? I think that's true.
It's not as easy as shooting 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've got to submit your identity files, then you've got to wait to get verified, and after that finally, you can go purchase some Bitcoin.
So, a great deal of individuals discover that too troublesome, which's why the individuals that are literally making the most amount of money right now in cryptocurrencies are the early adopters: people that are willing to put in possibly the 20 minutes required to go through a procedure which just takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we like your concepts, however gosh, establishing a crypto account is so challenging." 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 larger. So you're in fact truly getting paid a huge 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, however it is simply a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software. And can you imagine what will occur to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Right now you pointed out the procedure that individuals go through, and one thing I wish to expose too that you didn't mention, but I know a lot of folks who have problem with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can only purchase $500 a week.
As hard as possible, right, like Coinbase. It 'd take me permanently before I might start buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka. I mean, it's if you remember 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 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 innovation, 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 companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm always curious to speak with people who are, particularly someone like yourself, who's committed the last, you know, the lion's share of the last few years to truly go both feet in on this. How do you explain cryptocurrency to like an average person? That's a fantastic question.
They're 2 completely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. And so what provides it value is that it is, there's just going to be a minimal quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. And so if you look at that Bitcoin network, people constantly try to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And actually, with current technology, 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've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't rely on fiat money, you can print an unlimited quantity 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 just people who have actually suffered through either hyperinflation, or there's a high need for, in Argentina for example, high need 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 currently don't think in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a difficult time getting their head around. They resemble, "Well I do not need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin - Yeah. Therefore there's this whole burgeoning worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And utility coins are essentially utilized, let's state Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially a worldwide computer that you can compose computer system programs for and run computer system programs on a worldwide decentralized computer system program.
So we think about something like Ether an energy token, because you're essentially purchasing programs power. So I would not actually consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer individuals a concept, like a very basic one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's type of this same kind of network effect that you have with Bitcoin, where it resembles unstoppable example, since it's on many various areas and. And you kind of mentioned having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably energy based, remedy? Mm-hmm (affirmative). Many of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I believe the genuine chance depends on the energy coin space.
There's all of these ICOs that were taking place, those decreased a bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and start to create energy coins- Correct, yeah. And individuals need to comprehend that not all utility coins are produced equivalent.
So you have the benefit of dedicating your occupation to this, so you can head out there and do the recon, you can meet the creators, you can inspect the code, etc. However for a typical person, there's now what, over 1,000 different kinds of coins available, practically 1,200 I think. 'Cause normally it'll crash 80% or so - Does the team have experience of executing in a successful manner in another area of their life? And it does not even need to be directly associated to cryptocurrency, it does not 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 room that are just out of college, unless they have actually got some actually excellent consultants behind them, I'm most likely not going to provide any cash.
Yeah. I think that in marketing in general, my world of service, we continuously search for issues and how we can fix them. Now, are the issues things that people are attempting to solve a part of the Blockchain usually? Or would you state it's much better if they're resolving sort 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 services that, so I'll provide you an example.
And the factor that we purchased it is due to the fact that they discovered a way to make files tamper-proof, and it's 99% more affordable than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a track record of producing computer system programs that whole states run their entire operations on, right? So you have actually got all right, the smart person has constructed big computer programs, excellent team, resolving an enormous problem that is going to cut big expenses.
I imply, it does not get any easier than that in terms of deciding who to put cash behind. And a great deal of this prevails sense, and a great deal of folks will try to make things more complex than it is. And I have an actually simple guideline, Ryan. If I don't understand something, I set up my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).