teeka tiwari crypto master course
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But frauds and little 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 huge hack. Which woke something up for me.
And so I can't disregard that. I've got to go dig much deeper." And so I began traveling all around the world. I started going to Bitcoin events; I began to speaking with people that were smarter than me in this space. And what I understood is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The implications of that, of being able to have information that we don't require to have it separately validated, it's cryptographically verified. That principle can ripple out throughout the entire higher economy. And when that penny dropped, I knew I had to dedicate all my expert resources into becoming a specialist in this space.
And do you believe, I indicate you discussed something there about not having to get a third-party, or intermediary to validate 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 might not even totally understand recognition process . We were just talking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and then suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you think that the typical folks do not perhaps learn about these procedures, so they don't possibly see what you're stating as this advancement, 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 purchasing it, right? You have actually got to go to an exchange, you have actually got to publish your identity documents, then you have actually got to wait to get verified, and after that lastly, you can go buy some Bitcoin.
So, a great deal of people discover that too bothersome, which's why the 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 required to go through a process which just takes 5 minutes if you wish to establish a brokerage account.
"Oh Teeka, we enjoy your ideas, however gosh, establishing a crypto account is so challenging." 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 whole cryptocurrency market will be 10x larger. So you're in fact truly earning money an enormous quantity of cash to go through perhaps, you understand, 20 minutes of a pain in the neck.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software. And can you picture what will take place to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Today you pointed out the process that individuals go through, and one thing I wish to expose too that you didn't point out, however I know a lot of folks who have a hard time 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 hard as possible, right, like Coinbase. It 'd take me forever before I could begin purchasing 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 Internet, when we were getting on the Web, we were doing it with 56k modems, right? I suggest 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 imply, we remain in the early days of that innovation, however similar to during that amount of time, for the folks that had the vision to see where the future was going, and after that 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, due to the fact that I'm constantly curious to talk with individuals who are, specifically somebody like yourself, who's dedicated the last, you understand, the bulk of the last couple of years to really go both feet in on this. How do you explain cryptocurrency to like an average individual? That's an excellent concern.
They're two absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to money. So Bitcoin would be a cryptocurrency. And so what provides it value is that it is, there's just going to be a restricted amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the deals on the Bitcoin network. And so if you look at that Bitcoin network, people constantly attempt to hack it. But because of the nature of the network, today it's been unhackable. And actually, with current innovation, the Bitcoin network is so huge 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 because they're saying, "We do not trust paper money, you can print an unrestricted amount of it. It's actually not protect, and the federal government can take it away from you." - Whereas with Bitcoin, best , proceed.
Yeah. Or people that remained in Cypress, or just individuals who have actually suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, due to the fact that they already don't think in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a tough 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 need Bitcoin - Yeah. Therefore there's this whole growing 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 generally utilized, let's state Ethereum, which a lot of individuals understand about Ethereum. Ethereum is basically a global computer system that you can compose computer system programs for and run computer system programs on a globally decentralized computer program.
So we consider something like Ether an energy token, because you're essentially purchasing shows power. So I wouldn't actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give individuals a concept, like a really basic one that I would picture 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 type of network impact that you have with Bitcoin, where it's like unstoppable kind of thing, since it's on numerous various locations 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 utility based, remedy? Mm-hmm (affirmative). Most of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, but I believe the genuine chance lies in the utility coin space.
There's all of these ICOs that were happening, those decreased a little bit with some modifications to a couple of things that was going on, but people are going to come out of the woodwork and begin to develop utility coins- Correct, yeah. And individuals require to comprehend that not all utility coins are created equivalent.
So you have the benefit of devoting your profession to this, so you can go out there and do the recon, you can meet the creators, you can inspect the code, and so on. But for a typical individual, there's now what, over 1,000 various types of coins readily available, nearly 1,200 I think. 'Cause normally it'll crash 80% or two - undefined. Which's when we actually begin taking a look at the concept in more information. So here are some fast and filthy things that you should look at, right? So, one is, are they fixing a problem that needs to be solved? One of the big downsides with really wise, technical individuals, is that they like to fix problems that no one appreciates fixing.
Does the group have experience of carrying out in a successful way in another location of their life? And it doesn't even have to be straight associated to cryptocurrency, it doesn't need to be even straight associated to software application, right? So, but I wish to see a performance history of success in something, right? If it's four men in a space that are simply out of college, unless they've got some truly great advisors behind them, I'm most likely not going to give them any money.
Yeah. I think that in marketing in general, my world of business, we constantly search for problems and how we can fix them. Now, are the issues things that people are trying to fix a part of the Blockchain normally? Or would you say 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 generally trying to find options that, so I'll offer you an example.
And the factor that we purchased it is because they discovered a method 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 then on top of that, the person that started it has a track record of developing computer system programs that entire states run their whole operations on, right? So you have actually got fine, the clever man has actually built substantial computer programs, excellent team, resolving a huge problem that is going to cut substantial costs.
I indicate, it doesn't get any simpler 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 say, "I didn't understand what you just stated." Mm-hmm (affirmative).