teeka tiwari crypto suggestions
teeka tiwari and bitcoin cash
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However frauds and little scams. And there's something that a scams constantly does: it always goes to zero. 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. Which woke something up for me.
And so I can't overlook that. I have actually got to go dig deeper." Therefore I began traveling all around the world. I began going to Bitcoin events; I began to talking to people that were smarter than me in this space. And what I understood 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 huge that is! The implications of that, of having the ability to have information that we do not require to have it independently verified, it's cryptographically validated. That principle can ripple out throughout the whole higher economy. And when that cent dropped, I understood I needed to dedicate all my professional resources into becoming a specialist in this area.
And do you believe, I indicate you discussed something there about not needing to get a third-party, or intermediary to verify 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 fully comprehend recognition procedure . undefined.
We were just talking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then suddenly there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you believe that the average folks don't maybe understand about these processes, so they don't maybe see what you're stating as this advancement, they don't see it in their everyday life? Or what do you consider that? I think that's real.
It's not as simple as firing up a web browser and going to e-trade. com and pushing a buy button and purchasing it, right? You have actually got to go to an exchange, you've got to upload your identity files, then you have actually got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a great deal of people discover that too inconvenient, which's why the individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that are ready to put in maybe the 20 minutes required to go through a process which simply takes 5 minutes if you wish to establish a brokerage account.
"Oh Teeka, we love your ideas, however gosh, setting up a crypto account is so tough." 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 entire cryptocurrency market will be 10x larger. So you're actually really making money a huge amount of money to go through possibly, you understand, 20 minutes of a discomfort in the neck.
So you can't purchase Bitcoin yet through their trading platform, but it is just 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 market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Right now you pointed out the process that individuals go through, and one thing I want to expose too that you didn't discuss, however I understand a great deal of folks who fight with this too, is oh, and by the method, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me forever before I might start purchasing in size on Coinbase. They're like, well, we'll let you buy $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 imply it would take 20 minutes to fill 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 technology, but much like during that time period, for the folks that had the vision to see where the future was going, and after that 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, due to the fact that I'm constantly curious to talk to people who are, especially 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 a typical person? That's a fantastic question.
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 money. So Bitcoin would be a cryptocurrency. Therefore what provides it value is that it is, there's just going to be a limited quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals 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 existing innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
Therefore when individuals put, you have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We don't trust paper currency, you can print a limitless 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 were in Cypress, or just individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a catalyst for more adoption, due to the fact that they currently don't believe in their own currency? Yeah, and I think we've currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride getting their head around. They're like, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin - Yeah. And so 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 energy coins are basically used, let's say Ethereum, which a lot of individuals understand about Ethereum. Ethereum is essentially an international computer system that you can compose computer system programs for and run computer system programs on a globally decentralized computer program.
So we think about something like Ether an utility token, because you're basically buying programs power. So I wouldn't truly think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide individuals a concept, like a really basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's sort of this same type of network result that you have with Bitcoin, where it's like unstoppable example, because it's on a lot of various areas and. undefined. I do not know the ins and outs of it, however as an example for someone who might simply be very fundamental in their understanding of this, there are a lot of different types of utilities that are available.
And you kind of discussed having this boots on the ground experience. Now, since we're looking at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). Many of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, however I think the real chance lies in the energy coin space.
There's all of these ICOs that were occurring, those decreased 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 understand that not all utility coins are produced equal.
So you have the advantage of devoting your occupation to this, so you can go out there and do the recon, you can satisfy the creators, you can examine the code, and so on. But for an average individual, there's now what, over 1,000 different types of coins readily available, nearly 1,200 I believe. 'Cause usually 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 have to be straight related to cryptocurrency, it doesn't have to be even straight related to software, right? So, however I wish to see a track record of success in something, right? If it's four people in a space that are just out of college, unless they've got some truly good consultants behind them, I'm most likely not going to provide any money.
Yeah. I believe that in marketing in basic, my world of service, we constantly search for problems and how we can resolve them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain typically? Or would you say it's much 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 essentially looking for services that, so I'll offer you an example.
And the factor that we bought it is due to the fact that they found a method to make documents tamper-proof, and it's 99% less expensive than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that started it has a performance history of creating computer system programs that entire states run their whole operations on, right? So you have actually got alright, the wise guy has built huge computer system programs, terrific team, solving a massive issue that is going to cut big expenses.
I mean, 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 complicated than it is. And I have a truly basic rule, Ryan. If I do not understand something, I set up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).