teeka tiwari webminar
glenn beck & teeka tiwari
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But frauds and little frauds. And there's one thing that a fraud constantly does: it always 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 massive hack. And that woke something up for me.
Therefore I can't ignore that. I have actually got to go dig deeper." Therefore I began taking a trip all around the world. I started going to Bitcoin events; I started to speaking with people that were smarter than me in this space. And what I realized is that Blockchain innovation and the implementation of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of being able to have information that we don't need to have it separately verified, it's cryptographically confirmed. That idea can ripple out throughout the entire higher economy. And when that cent dropped, I understood I needed to dedicate all my professional resources into ending up being a specialist in this space.
And do you believe, 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 completely comprehend recognition procedure . We were simply talking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that suddenly there's other individuals getting notified about it, like the Internal Revenue Service and things like that. Do you think that the typical folks don't possibly understand about these procedures, so they do not possibly see what you're stating as this development, they don't see it in their daily life? Or what do you consider that? I believe that's real.
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 have actually 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 finally, you can go buy some Bitcoin.
So, a lot of individuals find that too bothersome, which's why the individuals that are actually making the most amount of money right now in cryptocurrencies are the early adopters: people that want to put in perhaps the 20 minutes needed to go through a process which simply takes 5 minutes if you wish to establish a brokerage account.
"Oh Teeka, we like your concepts, however gosh, setting up 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 really getting paid a huge quantity of money to go through perhaps, you understand, 20 minutes of a pain in the neck.
So you can't purchase Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software. And can you imagine what will happen to this whole marketplace when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Right now you pointed out the procedure that people go through, and something I wish to bring to light too that you didn't point out, however I understand a great deal of folks who deal with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can just purchase $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 purchase $500 a week, Teeka. I indicate, it's if you keep in mind 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 indicate, we remain in the early days of that technology, but simply like throughout that time period, for the folks that had the vision to see where the future was going, and after that bought 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 2nd, because I'm constantly curious to talk with individuals who are, especially someone like yourself, who's dedicated the last, you understand, the lion's share of the last few years to actually go both feet in on this. How do you describe cryptocurrency to like an average person? That's a fantastic concern.
They're 2 totally different things, but 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 provides it worth is that it is, there's just going to be a restricted quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And truly, with current technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
And so when people put, you have actually got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We don't rely on paper cash, you can print an unlimited amount of it. It's really not secure, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , proceed.
Yeah. Or people that were 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 need for a black market of U.S. dollars. Correct. Are those countries that could possibly be a catalyst for more adoption, because they currently don't believe 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 investors have a bumpy ride getting their head around. They resemble, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin - Yeah. And so there's this entire blossoming global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are generally utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically a global computer system that you can write computer system programs for and run computer programs on an internationally decentralized computer program.
So we think about something like Ether an energy token, since you're essentially buying shows power. So I would not really think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide people a concept, like a very easy one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's sort of this very same kind of network result that you have with Bitcoin, where it's like unstoppable example, since it's on so numerous different areas and. And you kind of mentioned having this boots on the ground experience. Now, since we're looking at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I believe the real chance lies in the energy coin space.
There's all of these ICOs that were taking place, those decreased a little bit with some changes to a few things that was going on, but individuals are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And individuals require to comprehend that not all utility coins are developed equal.
So you have the advantage of dedicating your profession to this, so you can go out there and do the reconnaissance, you can fulfill the creators, you can check the code, etc. But for a typical individual, there's now what, over 1,000 different kinds of coins available, practically 1,200 I believe. 'Cause typically it'll crash 80% or so - Does the team have experience of carrying out in an effective way in another area of their life? And it does not even have to be straight associated to cryptocurrency, it does not have to be even directly associated to software, right? So, however I wish to see a track record of success in something, right? If it's 4 people in a room that are simply out of college, unless they have actually got some really great advisors behind them, I'm probably not going to give them any money.
Yeah. I think that in marketing in general, my world of company, we constantly try to find problems and how we can fix them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain usually? Or would you say it's better if they're fixing kind 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 searching for options that, so I'll provide you an example.
And the factor that we bought it is since they found a way to make files tamper-proof, and it's 99% cheaper than present technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that began it has a performance history of developing computer system programs that whole states run their whole operations on, right? So you've got alright, the clever guy has actually developed huge computer system programs, terrific group, resolving an enormous issue that is going to cut substantial costs.
I imply, it doesn't get any easier than that in terms of deciding who to put cash behind. And a lot of this is typical sense, and a lot of folks will attempt to make things more complicated than it is. And I have a really easy guideline, Ryan. If I don't understand something, I installed my hand, and I say, "I didn't comprehend what you just stated." Mm-hmm (affirmative).