teeka tiwari info
teeka tiwari jon stewart
|
However frauds and little scams. And there's one thing that a scams always does: it constantly goes to no. But 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. Which woke something up for me.
And so I can't overlook that. I've got to go dig deeper." And so I started taking a trip all around the world. I started going to Bitcoin occasions; I started to talking with individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the execution of Blockchain technology 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 need to have it independently verified, it's cryptographically confirmed. That idea can ripple out throughout the entire greater economy. And when that penny dropped, I understood I had to dedicate all my expert resources into ending up being a specialist in this space.
And do you think, I mean you mentioned something there about not needing 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 lot of folks might not even totally comprehend validation procedure . We were simply talking 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 IRS and things like that. Do you think that the typical folks don't perhaps understand about these procedures, so they don't possibly see what you're saying as this advancement, they do not see it in their daily life? Or what do you think of that? I think that's true.
It's not as simple as shooting 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 files, then you've got to wait to get verified, and then finally, you can go purchase some Bitcoin.
So, a lot of individuals discover that too inconvenient, and that'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 possibly the 20 minutes required to go through a process which simply takes five minutes if you want to set up a brokerage account.
"Oh Teeka, we love your ideas, however gosh, establishing a crypto account is so difficult." What I inform them is I say, "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 actually really earning money a massive quantity of money to go through maybe, you understand, 20 minutes of a nuisance.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies straight through your trading software application. And can you imagine what will occur 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 mentioned the procedure that people go through, and one thing I wish to expose too that you didn't mention, however I know a great deal of folks who have a hard time with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can only buy $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me permanently prior to I might begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I mean, it's if you keep in mind the early days of the Internet, when we were getting on the Internet, 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 suggest, we remain in the early days of that technology, however much like during that time period, 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 to individuals who are, particularly somebody like yourself, who's devoted the last, you understand, the better part of the last few years to truly go both feet in on this. How do you explain cryptocurrency to like a typical person? That's a fantastic concern.
They're 2 totally various things, but 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. Therefore what gives it value is that it is, there's only going to be a limited amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the transactions on the Bitcoin network. Therefore if you look at that Bitcoin network, individuals continuously try to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And actually, with present innovation, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over.
Therefore when people put, you have actually got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not trust paper currency, you can print a limitless amount of it. It's really not protect, and the government can take it away from you." - Whereas with Bitcoin, ideal , proceed.
Yeah. Or individuals that remained 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 potentially be a catalyst for more adoption, since they already don't think in their own currency? Yeah, and I think we've 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're like, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin - Yeah. Therefore there's this entire burgeoning global demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And energy coins are essentially utilized, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a worldwide computer system that you can compose computer programs for and run computer programs on an internationally decentralized computer program.
So we think about something like Ether an utility token, due to the fact that you're essentially purchasing shows 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 offer individuals a concept, like a very 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 type of this same kind of network effect that you have with Bitcoin, where it resembles unstoppable kind of thing, because it's on many different areas and. And you type of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are most likely utility based, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, however I believe the real opportunity depends on the energy coin space.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a few things that was going on, however people are going to come out of the woodwork and start to create utility coins- Correct, yeah. And individuals need to comprehend that not all utility coins are developed equivalent.
So you have the advantage of devoting your profession to this, so you can head out there and do the reconnaissance, you can meet the creators, you can check the code, and so on. But for a typical person, there's now what, over 1,000 different kinds of coins offered, practically 1,200 I believe. 'Cause generally it'll crash 80% or so - 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 directly associated to cryptocurrency, it does not have to be even directly related to software, right? So, but I want to see a performance history of success in something, right? If it's four people in a room that are simply out of college, unless they have actually got some truly great advisors behind them, I'm probably not going to give them any cash.
Yeah. I believe that in marketing in basic, my world of service, we constantly try to find problems and how we can fix them. Now, are the issues things that people are trying to fix a part of the Blockchain generally? Or would you state it's better if they're solving sort 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 essentially searching for solutions that, so I'll give you an example.
And the reason that we bought it is because they found a way to make documents 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 person that started it has a track record of producing computer system programs that entire states run their entire operations on, right? So you have actually got fine, the wise guy has actually built substantial computer system programs, terrific group, resolving an enormous problem that is going to cut substantial costs.
I imply, it does not get any simpler than that in regards to choosing who to put cash behind. And a great deal of this is common sense, and a great deal of folks will attempt to make things more complicated than it is. And I have an actually basic guideline, Ryan. If I do not understand something, I put up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).