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teeka tiwari bitcoin training video
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But scams and little frauds. And there's something that a scams constantly does: it always goes to no. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The massive hack. And that woke something up for me.
And so I can't ignore that. I have actually got to go dig deeper." And so I began taking a trip all around the world. I began going to Bitcoin events; I began to talking to people that were smarter than me in this space. And what I recognized is that Blockchain technology and the application 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 being able to have information that we don't require to have it individually validated, it's cryptographically verified. That principle can ripple out throughout the whole greater economy. And when that penny dropped, I knew I needed to commit all my professional resources into ending up being a specialist in this area.
And do you believe, I imply you discussed something there about not having 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 might not even completely understand recognition procedure . We were simply discussing how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other people getting informed about it, like the IRS and things like that. Do you believe that the typical folks don't maybe understand about these processes, so they don't possibly see what you're stating as this development, they do not see it in their daily life? Or what do you consider that? I believe that holds true.
It's not as simple as shooting up a web 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 submit your identity documents, then you have actually got to wait to get verified, and then lastly, you can go purchase some Bitcoin.
So, a great deal of people discover that too inconvenient, and that's why individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that are ready to put in perhaps the 20 minutes needed to go through a process which simply takes 5 minutes if you wish to set up a brokerage account.
"Oh Teeka, we like your concepts, however gosh, setting up a crypto account is so tough." What I tell 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 larger. So you're actually truly earning money an enormous quantity of cash to go through maybe, you understand, 20 minutes of a headache.
So you can't purchase Bitcoin yet through their trading platform, however it is just a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies straight through your trading software. And can you imagine what will happen to this entire market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Today you discussed the process that people go through, and something I want to bring to light too that you didn't mention, however I know a lot of folks who struggle with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me permanently before I might start buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka. I indicate, 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 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 mean, we remain in the early days of that innovation, however much like during that period 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, since I'm always curious to speak to people who are, particularly somebody like yourself, who's committed the last, you know, the bulk of the last couple of years to actually go both feet in on this. How do you explain cryptocurrency to like an average individual? That's an excellent concern.
They're two absolutely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. And so what gives it value is that it is, there's just going to be a minimal amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, validating the deals on the Bitcoin network. And so if you look at that Bitcoin network, people continuously try to hack it. However since of the nature of the network, today it's been unhackable. And really, with existing technology, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
Therefore when individuals put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't rely on paper currency, you can print an endless amount of it. It's truly not secure, and the government can take it far from you." - Whereas with Bitcoin, best , proceed.
Yeah. Or people that remained in Cypress, or simply people who have actually suffered through either devaluation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, due to the fact that they already do not believe in their own currency? Yeah, and I believe we've currently 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 need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - Yeah. And so there's this entire blossoming global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And energy coins are generally utilized, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically an international 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, because you're essentially buying shows power. So I wouldn't truly think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give people an idea, like a really basic one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's kind of this exact same kind of network effect that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on numerous various locations and. And you sort of mentioned having this boots on the ground experience. Now, since we're looking at the bulk of these are probably energy based, remedy? Mm-hmm (affirmative). Many of the coins that I advise and look at are utility-based. We have a few cryptocurrencies, but I think the real chance depends on the utility coin space.
There's all of these ICOs that were happening, those decreased a little bit with some modifications to a couple of things that was going on, but individuals are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And people need to comprehend that not all energy coins are produced equal.
So you have the advantage of dedicating your occupation to this, so you can head out there and do the recon, you can fulfill the creators, you can inspect the code, etc. But for an average individual, there's now what, over 1,000 various types of coins readily available, nearly 1,200 I think. 'Cause usually it'll crash 80% or two - Does the team have experience of executing in a successful way in another location of their life? And it does not even need to be directly related to cryptocurrency, it does not need to be even directly associated to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 guys in a room that are simply out of college, unless they have actually got some really great advisors behind them, I'm probably not going to provide them any cash.
Yeah. I believe that in marketing in general, my world of service, we constantly search for problems and how we can fix them. Now, are the problems things that people are attempting to solve a part of the Blockchain generally? Or would you say it's much better if they're resolving kind 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 basically looking for services that, so I'll provide you an example.
And the factor that we purchased it is due to the fact that they discovered a way to make documents tamper-proof, and it's 99% more affordable than present innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that started it has a performance history of creating computer programs that entire states run their whole operations on, right? So you've got alright, the clever person has constructed substantial computer system programs, terrific group, resolving a huge issue that is going to cut huge expenses.
I mean, it does not get any simpler than that in regards to deciding who to put cash behind. And a great deal of this is common sense, and a great deal of folks will try to make things more complex than it is. And I have an actually basic guideline, Ryan. If I do not understand something, I put up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).