teeka tiwari site:wikipedia.org
teeka tiwari nov 2 picks
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However frauds and little scams. And there's something that a scams always does: it constantly 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 overlook that. I have actually got to go dig deeper." Therefore I began taking a trip all around the world. I began going to Bitcoin events; I began to speaking with individuals that were smarter than me in this space. And what I understood is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how huge that is! The implications of that, of having the ability to have data that we do not need to have it individually validated, it's cryptographically validated. That principle can ripple out throughout the entire higher economy. And when that cent dropped, I knew I had to commit all my professional resources into becoming an expert in this space.
And do you believe, I suggest you discussed something there about not having 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 may not even fully comprehend validation process . We were simply talking about how I'm delegating go to China, to China. And heaven forbid it's over $10,000, and then suddenly there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you believe that the average folks do not possibly understand about these procedures, so they do not possibly see what you're saying as this development, they don't see it in their daily life? Or what do you think of that? I think that's true.
It's not as simple 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've got to submit your identity files, then you have actually got to wait to get validated, and then lastly, you can go purchase some Bitcoin.
So, a lot of people discover that too troublesome, which's why individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that want to put in perhaps the 20 minutes required to go through a procedure which simply takes 5 minutes if you want to establish a brokerage account.
"Oh Teeka, we love your concepts, however gosh, setting up a crypto account is so hard." 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 bigger. So you're in fact really making money a massive amount of money to go through perhaps, you understand, 20 minutes of a nuisance.
So you can't buy Bitcoin yet through their trading platform, however it is simply a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you picture what will take place to this entire marketplace when buying Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Today you mentioned the process that people go through, and one thing I want to bring to light too that you didn't mention, however I know a lot of folks who deal with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just buy $500 a week.
As tough as possible, best, like Coinbase. It 'd take me permanently before I could start buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka. I suggest, 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 remain in the early days of that technology, however similar to throughout that amount of time, for the folks that had the vision to see where the future was going, and then purchased in on some of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm constantly curious to speak with individuals who are, specifically somebody like yourself, who's devoted the last, you understand, the much better part of the last couple of years to truly go both feet in on this. How do you describe cryptocurrency to like a typical individual? That's a terrific question.
They're 2 completely various things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's just going to be a limited quantity. There'll never 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, individuals continuously attempt to hack it. But since of the nature of the network, today it's been unhackable. And really, with current innovation, the Bitcoin network is so huge 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 literally own billions of dollars worth of Bitcoin. And they're making that bet because they're stating, "We do not trust paper currency, you can print an endless amount of it. It's really not protect, and the government can take it far from you." - Whereas with Bitcoin, ideal , go ahead.
Yeah. Or individuals that were in Cypress, or simply individuals who have suffered through either hyperinflation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, since they currently don't believe in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a difficult time getting their head around. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - Yeah. And so there's this whole burgeoning global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And utility coins are basically utilized, let's say Ethereum, which a lot of individuals learn about Ethereum. Ethereum is essentially an international computer system that you can compose computer programs for and run computer programs on a globally decentralized computer program.
So we consider something like Ether an energy token, because you're essentially buying programming power. So I would not actually consider Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to offer people a concept, like a really basic one that I would envision you 'd called an utility 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 result that you have with Bitcoin, where it resembles unstoppable kind of thing, since it's on numerous various locations and. And you sort of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). Most of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I think the genuine opportunity depends on the utility coin area.
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 people are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And individuals need to understand that not all energy coins are produced equivalent.
So you have the benefit of dedicating your occupation to this, so you can head out there and do the recon, you can meet the creators, you can inspect the code, etc. But for a typical individual, there's now what, over 1,000 various kinds of coins readily available, practically 1,200 I think. 'Cause typically it'll crash 80% or two - Does the team have experience of performing in a successful manner in another location of their life? And it does not even need to be straight associated to cryptocurrency, it does not need to be even straight related to software application, right? So, however I wish to see a performance history of success in something, right? If it's four guys in a space that are just out of college, unless they have actually got some truly excellent advisors behind them, I'm most likely not going to provide them any cash.
Yeah. I think that in marketing in basic, my world of business, we continuously try to find issues and how we can solve them. Now, are the issues things that individuals are trying to fix a part of the Blockchain normally? Or would you state it's better if they're fixing 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 searching for solutions that, so I'll provide you an example.
And the factor that we purchased it is due to the fact that they discovered a method 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 after that on top of that, the guy that began it has a track record of producing computer system programs that entire states run their entire operations on, right? So you've got fine, the smart guy has actually built substantial computer programs, terrific team, solving an enormous problem that is going to cut big expenses.
I imply, it doesn't get any simpler than that in terms of deciding who to put cash behind. And a great deal of this is typical sense, and a lot of folks will try 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 state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).