d1-z teeka tiwari
teeka tiwari coin picks
|
But scams and little scams. And there's something that a fraud constantly does: it always 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 enormous hack. And that woke something up for me.
And so I can't neglect that. I have actually got to go dig 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 space. And what I realized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how enormous that is! The ramifications of that, of having the ability to have data that we do not need to have it independently confirmed, it's cryptographically confirmed. That principle can ripple out throughout the entire greater economy. And when that penny dropped, I knew I had to commit all my expert resources into becoming a professional in this space.
And do you think, I imply you mentioned something there about not needing 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 fully understand recognition procedure . undefined.
We were just talking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other individuals getting alerted about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks don't maybe understand about these processes, so they do not possibly see what you're stating as this advancement, they do not see it in their everyday life? Or what do you consider that? I believe that holds true.
It's not as simple as shooting up a web internet 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 submit your identity files, then you've got to wait to get validated, and then lastly, you can go purchase some Bitcoin.
So, a lot of people find that too bothersome, and that's why the individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: individuals that are prepared to put in maybe the 20 minutes required to go through a process which simply takes 5 minutes if you wish to set up a brokerage account.
"Oh Teeka, we enjoy your concepts, but gosh, setting up a crypto account is so hard." What I tell 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 actually really making money a huge amount of cash to go through possibly, you understand, 20 minutes of a discomfort in the neck.
So you can't purchase Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you imagine what will happen to this whole marketplace when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform.
Right now you discussed the process that people go through, and something I wish to bring to light too that you didn't mention, however I understand a lot of folks who fight with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently prior to I could start purchasing in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I imply, 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 fill 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're in the early days of that innovation, however similar to during that period 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 absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, because I'm always curious to talk with individuals who are, particularly somebody like yourself, who's dedicated the last, you understand, the lion's share 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 terrific concern.
They're two completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to money. So Bitcoin would be a cryptocurrency. And so what provides it worth is that it is, there's just going to be a minimal quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, people constantly attempt to hack it. However since of the nature of the network, today it's been unhackable. And truly, with current innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
And so when individuals put, you have actually got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're saying, "We don't trust fiat money, you can print an unlimited amount of it. It's truly not secure, and the government can take it away from you." - Whereas with Bitcoin, ideal , go on.
Yeah. Or people that were in Cypress, or just individuals who have actually suffered through either run-away inflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, because they already do not 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 do not need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't need Bitcoin - Yeah. And so there's this whole blossoming international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And utility coins are essentially utilized, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a worldwide computer system that you can compose computer programs for and run computer programs on a globally decentralized computer program.
So we think about something like Ether an energy token, due to the fact that you're essentially buying programs power. So I wouldn't really think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give individuals an idea, like a very basic one that I would imagine you 'd called an energy token, is like FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's kind of this same type of network impact that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on many different areas and. And you kind of discussed having this boots on the ground experience. Now, because we're taking a look at the bulk of these are probably energy based, remedy? Mm-hmm (affirmative). Most of the coins that I recommend and look at are utility-based. We have a couple of cryptocurrencies, but I believe the real chance lies in the utility 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 develop utility coins- Correct, yeah. And individuals need to understand that not all energy coins are produced equal.
So you have the advantage of committing your occupation to this, so you can go out there and do the reconnaissance, you can satisfy the founders, you can examine the code, etc. But for an average 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 - undefined. Which's when we truly start taking a look at the idea in more detail. So here are some quick and unclean things that you should look at, right? So, one is, are they resolving a problem that requires to be resolved? Among the big disadvantages with really smart, technical people, is that they like to solve issues that nobody appreciates fixing.
Does the team have experience of performing in an effective way in another location of their life? And it doesn't even need to be straight related to cryptocurrency, it doesn't have to be even straight associated to software application, right? So, but I want to see a track record of success in something, right? If it's 4 people in a room that are just out of college, unless they have actually got some actually great consultants behind them, I'm probably not going to provide them any money.
Yeah. I believe that in marketing in basic, my world of organization, we constantly try to find problems and how we can resolve them. Now, are the problems things that individuals are trying to resolve a part of the Blockchain typically? Or would you state it's better if they're solving kind 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 searching for options that, so I'll offer you an example.
And the factor that we purchased it is because they found a method to make files tamper-proof, and it's 99% less expensive than current innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that began it has a performance history of creating computer system programs that whole states run their whole operations on, right? So you've got alright, the clever person has constructed big computer programs, great team, fixing an enormous issue that is going to cut huge costs.
I suggest, it does not get any easier than that in regards to choosing who to put money behind. And a great deal of this is common 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 put up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).