glenn beck teeka tiwari youtube
financial expert teeka tiwari
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However scams and little frauds. And there's one thing that a scams constantly does: it always goes to 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 massive hack. And that woke something up for me.
And so I can't disregard that. I have actually got to go dig much deeper." Therefore I started traveling all around the world. I began going to Bitcoin events; I started to speaking to people that were smarter than me in this area. And what I realized is that Blockchain technology and the execution of Blockchain technology 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 separately verified, it's cryptographically validated. That idea can ripple out throughout the whole higher economy. And when that penny dropped, I knew I had to dedicate all my professional resources into becoming a professional in this space.
And do you think, I suggest you pointed out something there about not having 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 process . undefined.
We were just speaking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then all of an unexpected there's other people getting alerted about it, like the IRS and things like that. Do you think that the average folks don't maybe understand about these processes, so they don't possibly see what you're stating as this development, they don't see it in their everyday life? Or what do you think of that? I believe that's true.
It's not as easy as firing 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 have actually got to upload your identity documents, then you have actually got to wait to get verified, and after that lastly, you can go purchase some Bitcoin.
So, a lot of people discover that too bothersome, which's why the individuals that are actually making the most amount of cash right now 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 want to establish a brokerage account.
"Oh Teeka, we like your ideas, but gosh, establishing a crypto account is so difficult." What I inform them is I say, "Look, when it's simple 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 truly getting paid a massive quantity of money to go through perhaps, you understand, 20 minutes of a nuisance.
So you can't purchase Bitcoin yet through their trading platform, but it is just a question of time, Ryan, prior to you'll be able to buy cryptocurrencies directly through your trading software. And can you picture what will happen to this entire market when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Right now you mentioned the process that people go through, and one thing I wish to bring to light too that you didn't point out, but I understand a lot of folks who deal 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 challenging as possible, right, like Coinbase. It 'd take me permanently prior to I might begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka. I imply, 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 mean 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 remain in the early days of that innovation, however simply like throughout that duration 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 business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, since I'm always curious to talk with individuals who are, specifically somebody like yourself, who's committed the last, you understand, the better part of the last few years to really go both feet in on this. How do you explain cryptocurrency to like an average person? That's an excellent question.
They're two absolutely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's just going to be a minimal amount. There'll never ever 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 take a look at that Bitcoin network, people constantly attempt to hack it. However because of the nature of the network, today it's been unhackable. And actually, with present technology, the Bitcoin network is so big right now, 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 stating, "We don't rely on fiat money, you can print an unrestricted amount of it. It's really not secure, and the government can take it far from you." - Whereas with Bitcoin, ideal , go on.
Yeah. Or individuals that were in Cypress, or simply individuals who have suffered through either devaluation, 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 possibly 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 have actually already seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. They resemble, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin - Yeah. And so there's this whole growing global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And energy coins are generally utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically an international computer system that you can write computer programs for and run computer programs on a globally decentralized computer program.
So we think about something like Ether an utility token, because you're essentially purchasing programming power. So I wouldn't actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give people a concept, like an extremely simple one that I would imagine you 'd called an utility token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this same type of network result that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on so lots of various areas and. And you kind of mentioned having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility based, correct? Mm-hmm (affirmative). Most of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, but I believe the real chance depends on the utility coin area.
There's all of these ICOs that were taking place, those slowed down a bit with some modifications to a couple of things that was going on, however people are going to come out of the woodwork and start to produce energy coins- Correct, yeah. And people require to comprehend that not all energy coins are created equivalent.
So you have the benefit of devoting your occupation to this, so you can head out there and do the reconnaissance, you can fulfill the creators, you can examine the code, and so on. But for a typical individual, there's now what, over 1,000 different kinds of coins available, nearly 1,200 I believe. 'Cause usually it'll crash 80% approximately - Does the team have experience of executing in a successful manner in another location of their life? And it doesn't even have to be directly related to cryptocurrency, it doesn't need 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 4 men in a room that are simply out of college, unless they've got some truly good consultants behind them, I'm probably not going to give them any cash.
Yeah. I believe that in marketing in basic, my world of organization, we continuously look for problems and how we can resolve them. Now, are the issues things that people are attempting to fix a part of the Blockchain generally? Or would you say it's much better if they're solving 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 essentially trying to find solutions that, so I'll provide you an example.
And the factor that we purchased it is since they found a way to make documents tamper-proof, and it's 99% less expensive than present technology, 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 developing computer system programs that whole states run their whole operations on, right? So you have actually got all right, the clever man has constructed big computer system programs, terrific group, solving a huge problem that is going to cut substantial costs.
I imply, it does not get any easier than that in terms of choosing who to put money behind. And a great deal 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 don't understand something, I put up my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).