teeka tiwari gifto
agora financiual, immediate retirement fudn, by teeka tiwari
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But frauds and small frauds. And there's something that a scams always 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 problem came out. The enormous hack. And that woke something up for me.
And so I can't disregard that. I have actually got to go dig much deeper." And so I started taking a trip all around the world. I began going to Bitcoin occasions; I began to speaking with individuals that were smarter than me in this space. And what I realized 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 huge that is! The ramifications of that, of having the ability to have data that we do not require to have it individually validated, it's cryptographically validated. That idea can ripple out throughout the entire higher economy. And when that penny dropped, I understood I needed to dedicate all my expert resources into becoming a professional in this area.
And do you believe, I mean you discussed something there about not needing to get a third-party, or intermediary to verify something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a great deal of folks may not even fully comprehend recognition process . We were just discussing how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and after that all of an abrupt there's other people getting informed about it, like the Internal Revenue Service and things like that. Do you think that the average folks don't maybe understand about these procedures, so they don't possibly see what you're saying as this development, they don't see it in their daily life? Or what do you believe about 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 buying 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 confirmed, and then finally, you can go purchase some Bitcoin.
So, a lot of individuals discover that too troublesome, 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 maybe the 20 minutes required to go through a process which just takes five minutes if you wish to establish a brokerage account.
"Oh Teeka, we enjoy your ideas, however gosh, setting up a crypto account is so difficult." What I inform them is I state, "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 larger. So you're in fact really getting paid a massive quantity of money to go through possibly, you understand, 20 minutes of a nuisance.
So you can't purchase Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software application. And can you envision what will take place to this entire market when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Right now you pointed out the procedure that individuals go through, and one thing I wish to bring to light too that you didn't point out, but I know a great deal of folks who struggle with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, right, like Coinbase. It 'd take me forever prior to I could begin buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I indicate, 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 mean 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 indicate, we're in the early days of that technology, however just like during that duration of time, for the folks that had the vision to see where the future was going, and then bought in on a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, due to the fact that I'm constantly curious to talk with individuals who are, specifically someone like yourself, who's dedicated the last, you understand, the lion's share of the last couple of years to truly go both feet in on this. How do you describe cryptocurrency to like an average person? That's a fantastic question.
They're 2 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. Therefore what provides it value 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. Therefore if you look at that Bitcoin network, people constantly try to hack it. However due to the fact that 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.
Therefore when individuals put, you have actually got people 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 fiat money, you can print an unrestricted amount of it. It's actually not secure, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , proceed.
Yeah. Or individuals that remained in Cypress, or simply individuals who have actually 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, due to the fact that they currently do not believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a tough time getting their head around. They're like, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - Yeah. Therefore there's this whole burgeoning global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And energy coins are basically utilized, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically a global computer that you can write computer programs for and run computer programs on an internationally decentralized computer program.
So we consider something like Ether an utility token, due to the fact that you're basically buying programs power. So I would not really consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give individuals a concept, like a really basic one that I would envision you 'd called an energy token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this same kind of network impact that you have with Bitcoin, where it resembles unstoppable example, because it's on many various areas and. And you sort of mentioned having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, however I believe the genuine chance depends on the utility coin area.
There's all of these ICOs that were occurring, those decreased a 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 people require to understand that not all utility coins are created equal.
So you have the advantage of committing your profession to this, so you can go out there and do the recon, you can fulfill the creators, you can inspect the code, and so on. However for a typical person, there's now what, over 1,000 various kinds of coins offered, practically 1,200 I think. 'Cause usually it'll crash 80% or so - undefined. And that's when we truly begin taking a look at the concept in more detail. So here are some fast and unclean things that you should look at, right? So, one is, are they resolving an issue that requires to be fixed? One of the big downsides with extremely clever, technical people, is that they like to resolve issues that no one cares about resolving.
Does the team have experience of carrying out in an effective way in another area of their life? And it doesn't even need to be straight associated to cryptocurrency, it doesn't need to be even straight related to software application, right? So, however I wish to see a track record 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 actually great advisors behind them, I'm probably not going to provide any cash.
Yeah. I think that in marketing in general, my world of company, we continuously look for problems and how we can resolve them. Now, are the problems things that individuals are trying to resolve a part of the Blockchain normally? Or would you state it's much better if they're resolving 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 services that, so I'll provide you an example.
And the factor that we bought it is since they discovered a way to make files tamper-proof, and it's 99% less expensive than present technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a performance history of creating computer programs that whole states run their whole operations on, right? So you have actually got all right, the smart person has constructed big computer system programs, fantastic team, solving a huge problem that is going to cut substantial costs.
I imply, it doesn't get any simpler than that in terms of deciding who to put cash behind. And a lot 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 really basic rule, Ryan. If I do not understand something, I put up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).