teeka tiwari birthplace
"palm beach confidential quarterly income" by teeka tiwari)
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But frauds and small frauds. And there's one thing that a scams constantly does: it always goes to absolutely no. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. And that woke something up for me.
And so I can't disregard that. I've got to go dig deeper." And so I started traveling all around the world. I began going to Bitcoin events; I started to talking with people that were smarter than me in this area. And what I recognized is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how huge that is! The ramifications of that, of being able to have information that we don't require to have it independently confirmed, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that cent dropped, I understood I needed to devote all my expert resources into becoming a professional in this space.
And do you think, I indicate you mentioned something there about not needing to get a third-party, or intermediary to confirm something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a lot of folks may not even totally understand validation process . We were simply talking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and after that 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 typical folks do not maybe understand about these procedures, so they don't perhaps see what you're saying as this advancement, they don't see it in their everyday life? Or what do you consider that? I think that holds true.
It's not as easy as firing up a web internet browser and going to e-trade. com and pushing 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've got to wait to get verified, and after that lastly, you can go buy some Bitcoin.
So, a great deal of individuals find that too troublesome, and that's why 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 needed to go through a process which just takes 5 minutes if you desire to set up a brokerage account.
"Oh Teeka, we like your concepts, however gosh, setting up a crypto account is so hard." 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 whole cryptocurrency market will be 10x larger. So you're actually truly making money an enormous quantity of money to go through possibly, you know, 20 minutes of a nuisance.
So you can't buy Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software. And can you envision what will happen to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Right now you mentioned the procedure that people go through, and one thing I desire to bring to light too that you didn't point out, however I understand a lot of folks who fight with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me forever before I could start buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka. I suggest, 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 indicate 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 indicate, we're in the early days of that innovation, but 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 business, they made an outright fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm always curious to talk to people who are, especially somebody like yourself, who's devoted the last, you understand, the lion's share of the last few years to really go both feet in on this. How do you describe cryptocurrency to like an average person? That's a great question.
They're two completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what offers it worth 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, verifying the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals constantly try to hack it. However since of the nature of the network, today it's been unhackable. And actually, with existing technology, the Bitcoin network is so huge today, 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 do not trust paper currency, you can print a limitless amount of it. It's truly not secure, and the government can take it away from you." - Whereas with Bitcoin, right , go on.
Yeah. Or individuals that were in Cypress, or simply individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, due to the fact that they already do not think in their own currency? Yeah, and I think we have actually already seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a bumpy ride getting their head around. They're like, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin - Yeah. Therefore there's this entire burgeoning worldwide demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And energy coins are basically utilized, let's state Ethereum, which a lot of people learn about Ethereum. Ethereum is essentially a global computer that you can compose computer system programs for and run computer system programs on a globally decentralized computer system program.
So we consider something like Ether an energy token, because you're essentially purchasing programs 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 provide individuals an idea, like a really easy one that I would picture 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 sort of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable kind of thing, due to the fact that it's on many various locations and. And you kind of pointed out having this boots on the ground experience. Now, because we're taking a look at the bulk of these are most likely energy based, correct? Mm-hmm (affirmative). The majority of the coins that I advise 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 area.
There's all of these ICOs that were happening, those slowed down a little bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And individuals need to understand that not all utility coins are developed equal.
So you have the advantage of committing your occupation to this, so you can head out there and do the recon, you can fulfill the founders, you can check the code, and so on. But for a typical person, there's now what, over 1,000 various types of coins readily available, practically 1,200 I think. 'Cause generally it'll crash 80% or so - undefined. Which's when we truly begin looking at the idea in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they solving an issue that requires to be resolved? Among the big drawbacks with very smart, technical people, is that they like to solve issues that nobody cares about resolving.
Does the team have experience of carrying out in a successful way in another location of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't have to be even directly associated to software, right? So, but I wish to see a track record 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 good consultants behind them, I'm probably not going to offer them any money.
Yeah. I believe that in marketing in general, my world of business, we constantly search for issues and how we can fix them. Now, are the issues things that people are trying 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 basically trying to find services that, so I'll offer you an example.
And the reason that we bought it is due to the fact that they found a method to make files tamper-proof, and it's 99% more affordable than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a performance history of creating computer programs that whole states run their entire operations on, right? So you've got all right, the smart man has actually developed huge computer programs, excellent group, resolving a massive issue that is going to cut substantial expenses.
I imply, it does not get any easier than that in regards to choosing who to put money behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have a really basic rule, Ryan. If I don't understand something, I set up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).