teeka tiwari meme
teeka tiwari banned from stocks
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But frauds and small frauds. And there's one thing that a fraud always does: it constantly goes to absolutely no. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The massive hack. And that woke something up for me.
Therefore I can't neglect that. I have actually got to go dig deeper." And so I started traveling all around the world. I began going to Bitcoin events; I began to talking with people that were smarter than me in this area. And what I recognized is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have data that we do not need to have it independently validated, it's cryptographically verified. That concept can ripple out throughout the entire higher economy. And when that cent dropped, I understood I had to dedicate all my professional resources into ending up being a specialist in this space.
And do you believe, I indicate you discussed 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 great deal of folks might not even totally understand validation procedure . We were just speaking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then all of an unexpected there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the average folks don't maybe understand about these procedures, so they do not maybe see what you're stating as this breakthrough, they do not see it in their everyday life? Or what do you think about that? I believe 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 upload your identity files, then you've got to wait to get validated, and then lastly, you can go buy some Bitcoin.
So, a great deal of individuals find that too bothersome, which's why individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are willing to put in perhaps the 20 minutes needed to go through a procedure which just takes five minutes if you wish to establish a brokerage account.
"Oh Teeka, we like your concepts, but gosh, setting up 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 entire cryptocurrency market will be 10x bigger. So you're in fact really making money an enormous quantity of money to go through perhaps, you understand, 20 minutes of a headache.
So you can't purchase Bitcoin yet through their trading platform, but it is just a question of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software. And can you envision what will occur to this whole marketplace when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform.
Today you mentioned the process that people go through, and something I wish to expose too that you didn't point out, but I know a lot of folks who have problem with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can only buy $500 a week.
As tough as possible, best, like Coinbase. It 'd take me forever prior to I might start buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I indicate, 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 suggest it would take 20 minutes to pack a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I mean, we're in the early days of that technology, but much like throughout that amount 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 to individuals who are, particularly someone like yourself, who's dedicated the last, you know, the lion's share of the last few years to really go both feet in on this. How do you explain cryptocurrency to like a typical person? That's a great concern.
They're 2 totally various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it worth is that it is, there's only going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the transactions on the Bitcoin network. Therefore if you 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 truly, with present innovation, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
And so when individuals put, you've got individuals who have literally 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 currency, you can print an unlimited quantity of it. It's truly not secure, and the government can take it away from you." - Whereas with Bitcoin, right , proceed.
Yeah. Or people that remained in Cypress, or just individuals who have suffered through either run-away inflation, or there's a high need for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, due to the fact that they currently don't think in their own currency? Yeah, and I believe we have actually currently 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 need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - Yeah. And so there's this entire blossoming worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And utility coins are generally used, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a global computer system that you can compose computer system programs for and run computer programs on a globally decentralized computer program.
So we consider something like Ether an energy token, because you're basically buying programs power. So I wouldn't really think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give people an idea, like a really easy one that I would picture 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 exact same kind of network result that you have with Bitcoin, where it's like unstoppable kind of thing, due to the fact that it's on numerous different locations and. And you sort of pointed out having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I believe the genuine opportunity depends on the utility coin area.
There's all of these ICOs that were occurring, 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 begin to produce energy coins- Correct, yeah. And people need to comprehend that not all utility coins are developed equal.
So you have the advantage of devoting your occupation to this, so you can head out there and do the reconnaissance, you can satisfy the creators, you can inspect the code, and so on. But for an average individual, there's now what, over 1,000 different types of coins available, nearly 1,200 I believe. 'Cause generally it'll crash 80% or two - Does the group have experience of executing in a successful manner in another area of their life? And it does not even have to be straight related to cryptocurrency, it does not have to be even directly associated to software application, right? So, however I desire to see a track record 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 excellent consultants behind them, I'm probably not going to give them any cash.
Yeah. I believe that in marketing in basic, my world of business, we constantly look for issues and how we can fix them. Now, are the issues things that people are trying to resolve a part of the Blockchain typically? Or would you state it's better if they're solving 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 basically searching for solutions that, so I'll offer you an example.
And the factor that we purchased it is because they found a method 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 performance history of producing computer programs that entire states run their whole operations on, right? So you have actually got fine, the wise guy has built big computer programs, terrific group, fixing an enormous problem that is going to cut huge expenses.
I imply, it does not get any easier than that in regards to choosing who to put cash behind. And a lot of this prevails sense, and a lot of folks will attempt to make things more complex than it is. And I have a truly basic rule, Ryan. If I do not understand something, I put up my hand, and I state, "I didn't understand what you simply stated." Mm-hmm (affirmative).