teeka tiwari pdf
teeka tiwari pick march 14, 2018
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But scams and little scams. And there's something that a fraud constantly does: it constantly goes to zero. 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.
Therefore I can't neglect that. I have actually got to go dig much deeper." And so I began traveling all around the world. I began going to Bitcoin occasions; I began to talking to individuals that were smarter than me in this area. And what I recognized is that Blockchain technology and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how massive that is! The implications of that, of having the ability to have information that we don't require to have it separately verified, it's cryptographically confirmed. That idea can ripple out throughout the whole higher economy. And when that cent dropped, I understood I needed to devote all my professional 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 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 comprehend recognition process . We were just talking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and then suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you think that the average folks do not possibly understand about these processes, so they do not possibly see what you're saying as this development, they do not see it in their daily life? Or what do you think of that? I believe that's 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 buying it, right? You've got to go to an exchange, you've got to upload your identity documents, then you've got to wait to get verified, and after that finally, you can go buy some Bitcoin.
So, a great deal of individuals discover that too bothersome, which's why individuals that are literally making the most amount of cash today in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes required to go through a procedure which simply takes 5 minutes if you wish to establish a brokerage account.
"Oh Teeka, we love 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 whole cryptocurrency market will be 10x larger. So you're in fact truly earning money an enormous 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 just a question of time, Ryan, prior to you'll be able to purchase cryptocurrencies straight through your trading software application. And can you envision what will occur to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Right now you discussed the process that people go through, and one thing I want to bring to light too that you didn't mention, but I understand a great deal of folks who battle with this too, is oh, and by the way, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me forever before I could begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka. I mean, it's if you remember 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 suggest, we remain in the early days of that technology, however similar to during that period 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 2nd, because I'm always curious to speak with people who are, especially someone like yourself, who's devoted the last, you understand, the bulk of the last couple of years to actually go both feet in on this. How do you describe cryptocurrency to like an average individual? That's a great concern.
They're two absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what provides it value 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 computer systems, verifying the transactions on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people continuously attempt to hack it. But because of the nature of the network, today it's been unhackable. And really, with existing 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 since they're saying, "We do not trust fiat money, you can print a limitless quantity of it. It's really not secure, and the federal government can take it away from you." - Whereas with Bitcoin, right , go ahead.
Yeah. Or individuals that remained in Cypress, or just individuals who have suffered through either devaluation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, because 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 financiers 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 stable currency, right? You don't require Bitcoin - Yeah. And so there's this entire blossoming international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And utility coins are essentially used, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is essentially a worldwide computer that you can compose computer programs for and run computer system programs on an internationally decentralized computer program.
So we think about something like Ether an energy token, because you're basically buying programming power. So I wouldn't really consider Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to offer individuals a concept, like a very easy one that I would envision you 'd called an energy token, resembles FileCoin.
Where the idea is that essentially you're hosting files through a peer-based network, and there's kind of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on so many various areas and. And you type of mentioned having this boots on the ground experience. Now, considering 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 recommend and look at are utility-based. We have a couple of cryptocurrencies, but I believe the genuine opportunity lies in the utility coin space.
There's all of these ICOs that were taking place, those decreased a little bit with some modifications to a couple of things that was going on, however individuals are going to come out of the woodwork and begin to produce energy coins- Correct, yeah. And people need to understand that not all utility coins are produced equal.
So you have the benefit of committing your occupation to this, so you can head out there and do the reconnaissance, you can meet the creators, you can check the code, etc. However for an average person, there's now what, over 1,000 different types of coins readily available, practically 1,200 I believe. 'Cause generally it'll crash 80% or so - Does the group have experience of executing in a successful manner in another location of their life? And it doesn't even need to be straight associated to cryptocurrency, it does not have to be even directly associated to software, right? So, but I want to see a track record of success in something, right? If it's 4 people in a space that are simply out of college, unless they have actually got some really excellent advisors behind them, I'm most likely not going to provide them any cash.
Yeah. I believe that in marketing in general, my world of organization, we constantly search for problems and how we can solve them. Now, are the issues things that individuals are attempting to resolve a part of the Blockchain typically? Or would you say it's 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 generally trying to find solutions that, so I'll offer you an example.
And the reason that we bought it is due to the fact that they found a way to make files tamper-proof, and it's 99% less expensive than existing 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 track record of creating computer programs that whole states run their entire operations on, right? So you've got all right, the clever man has actually constructed substantial computer programs, excellent group, fixing a massive issue that is going to cut huge expenses.
I suggest, it does not get any simpler than that in regards to choosing who to put money behind. And a great deal of this is typical sense, and a great deal of folks will attempt to make things more complicated than it is. And I have a truly basic rule, Ryan. If I do not comprehend something, I put up my hand, and I say, "I didn't comprehend what you simply said." Mm-hmm (affirmative).