teeka tiwari investing
"teeka tiwari" scam
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But frauds and little frauds. And there's one thing that a scams constantly 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 enormous hack. And that woke something up for me.
Therefore I can't overlook that. I've got to go dig deeper." And so I started traveling all around the world. I started going to Bitcoin events; I began to speaking to individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of having the ability to have information that we don't require to have it individually confirmed, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I understood I had to devote all my professional resources into ending up being a specialist in this area.
And do you believe, I imply you mentioned something there about not needing to get a third-party, or intermediary to validate something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a lot of folks may not even completely comprehend recognition process . We were simply speaking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly 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 possibly understand about these procedures, so they don't possibly see what you're saying as this development, they don't see it in their daily life? Or what do you consider that? I believe that holds true.
It's not as easy as shooting up a web internet 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've got to wait to get confirmed, and then finally, you can go buy some Bitcoin.
So, a great deal of people find that too bothersome, and that's why individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes needed to go through a process which simply takes 5 minutes if you want to set up a brokerage account.
"Oh Teeka, we love your concepts, however gosh, establishing a crypto account is so hard." What I tell them is I state, "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 bigger. So you're in fact really making money an enormous amount of cash to go through possibly, you know, 20 minutes of a nuisance.
So you can't purchase 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 envision what will happen to this whole market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Right now you mentioned the process that individuals go through, and something I wish to expose too that you didn't discuss, but I understand a lot of folks who fight with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As difficult as possible, best, like Coinbase. It 'd take me permanently prior to I could start purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I suggest, 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 imply 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 innovation, but just like throughout that amount of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm always curious to talk with individuals who are, especially someone like yourself, who's devoted the last, you know, the lion's share of the last couple of years to truly go both feet in on this. How do you explain cryptocurrency to like a typical individual? That's a fantastic concern.
They're two absolutely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what provides it worth is that it is, there's just going to be a limited quantity. 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 look at that Bitcoin network, individuals continuously try to hack it. However because of the nature of the network, today it's been unhackable. And really, with existing technology, 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 have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't rely on paper currency, you can print an endless quantity of it. It's actually not secure, and the government can take it far from you." - Whereas with Bitcoin, right , go ahead.
Yeah. Or people that remained in Cypress, or simply people who have suffered through either run-away inflation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a catalyst for more adoption, since they already do not think in their own currency? Yeah, and I think we have actually 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're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - undefined. However there are billions of people on the planet that don't have steady currencies.
Yeah. Therefore there's this entire growing international need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are essentially utilized, let's say Ethereum, which a lot of individuals know about Ethereum. Ethereum is essentially a global computer system that you can write computer programs for and run computer system programs on a globally decentralized computer program.
So we consider something like Ether an utility token, since you're essentially purchasing programming power. So I wouldn't truly consider 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 simple one that I would envision you 'd called an energy token, resembles FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's kind of this exact same type of network impact that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on many different areas and. And you kind of mentioned having this boots on the ground experience. Now, because we're taking a look at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). The majority of the coins that I recommend and look at are utility-based. We have a couple of cryptocurrencies, however I think the real opportunity depends on the utility coin area.
There's all of these ICOs that were taking place, those decreased a little 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 utility coins- Correct, yeah. And people need to understand that not all utility coins are produced equal.
So you have the advantage of committing your occupation to this, so you can head out there and do the recon, you can meet the founders, you can inspect the code, etc. However for an average person, there's now what, over 1,000 different types of coins available, nearly 1,200 I think. 'Cause usually 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 need to be straight related to cryptocurrency, it does not need to be even straight related to software application, right? So, however I desire to see a performance history of success in something, right? If it's 4 men in a space that are just out of college, unless they've got some actually good advisors behind them, I'm probably not going to offer them any money.
Yeah. I believe that in marketing in general, my world of organization, we constantly search for problems and how we can solve them. Now, are the problems things that individuals are trying to resolve a part of the Blockchain typically? Or would you state it's much better if they're resolving 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 looking for services that, so I'll provide you an example.
And the reason that we purchased it is due to the fact that they discovered a method to make files tamper-proof, and it's 99% less expensive than existing 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 creating computer system programs that entire states run their entire operations on, right? So you have actually got okay, the clever guy has actually constructed substantial computer programs, terrific team, solving an enormous issue that is going to cut huge costs.
I imply, it does not get any easier than that in terms of deciding who to put money behind. And a great deal of this is typical sense, and a lot of folks will attempt to make things more complex than it is. And I have an actually simple rule, Ryan. If I don't comprehend something, I put up my hand, and I say, "I didn't understand what you simply said." Mm-hmm (affirmative).