teeka tiwari december pick
teeka tiwari enigma
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However frauds and little scams. And there's one thing that a fraud always does: it always goes to absolutely no. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The enormous hack. Which woke something up for me.
And so I can't neglect that. I've got to go dig much deeper." And so I started taking a trip all around the world. I began going to Bitcoin events; I started to talking to individuals that were smarter than me in this space. And what I realized is that Blockchain technology and the execution of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of being able to have information that we do not require to have it individually verified, it's cryptographically verified. That concept can ripple out throughout the entire greater economy. And when that cent dropped, I understood I needed to devote all my professional resources into ending up being an expert in this space.
And do you think, I indicate you mentioned 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 just speaking about how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and after that all of a sudden there's other individuals getting informed about it, like the IRS and things like that. Do you believe that the average folks do not perhaps learn about these processes, so they don't maybe see what you're saying as this breakthrough, they do not see it in their daily life? Or what do you consider that? I believe that's true.
It's not as easy 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 publish your identity documents, then you have actually got to wait to get confirmed, and then finally, you can go purchase some Bitcoin.
So, a great deal of individuals find that too bothersome, which's why the individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: people that are willing to put in perhaps the 20 minutes required to go through a procedure which simply takes five minutes if you want to set up a brokerage account.
"Oh Teeka, we like your concepts, however gosh, setting up a crypto account is so challenging." 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 in fact truly earning money a massive amount of money to go through maybe, you understand, 20 minutes of a headache.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, prior to you'll be able to buy cryptocurrencies straight through your trading software application. And can you imagine what will take place to this whole market when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Today you mentioned the process that people go through, and something I wish to bring to light too that you didn't mention, however I understand a great deal of folks who have a hard time with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just buy $500 a week.
As difficult as possible, ideal, like Coinbase. It 'd take me forever before I might start purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I imply, it's if you remember the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I indicate 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 remain in the early days of that technology, but similar to throughout that time period, 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 outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to speak to individuals who are, specifically someone like yourself, who's dedicated the last, you know, the bulk of the last few years to truly go both feet in on this. How do you describe cryptocurrency to like an average person? That's a great question.
They're two completely various 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. Therefore what gives it worth is that it is, there's just going to be a restricted amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals continuously attempt to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, with present technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
Therefore when individuals put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't trust paper currency, you can print an unrestricted quantity of it. It's really not protect, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , go on.
Yeah. Or individuals that were in Cypress, or just people who have suffered through either devaluation, or there's a high need for, in Argentina for example, 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 don't believe in their own currency? Yeah, and I think we have actually currently 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're like, "Well I do not need 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 blossoming international demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And energy coins are essentially used, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially an international computer system that you can write computer programs for and run computer programs on an internationally decentralized computer system program.
So we think about something like Ether an utility token, because you're basically buying shows power. So I would not actually think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give people an idea, like a really easy one that I would imagine you 'd called an utility token, resembles FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's type of this very same type of network impact that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on many various areas and. undefined. I do not know the ins and outs of it, however as an example for someone who might just be really basic in their understanding of this, there are so numerous various kinds of utilities that are available.
And you sort of discussed having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility based, remedy? Mm-hmm (affirmative). The majority of the coins that I suggest and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine opportunity depends on the energy coin area.
There's all of these ICOs that were taking place, those slowed down a little bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And people require to understand that not all utility coins are developed equal.
So you have the advantage of devoting your profession to this, so you can head out there and do the reconnaissance, you can meet the founders, you can check the code, etc. But for an average person, there's now what, over 1,000 various types of coins readily available, nearly 1,200 I think. 'Cause generally it'll crash 80% or so - undefined. Which's when we actually begin looking at the concept in more detail. So here are some fast and dirty things that you should look at, right? So, one is, are they resolving an issue that needs to be solved? One of the big drawbacks with very clever, technical people, is that they like to resolve problems that nobody cares about fixing.
Does the group have experience of performing in an effective way in another area of their life? And it doesn't even need to be directly related to cryptocurrency, it doesn't have to be even straight associated to software, right? So, but I desire to see a track record of success in something, right? If it's 4 men in a space that are simply out of college, unless they have actually got some really good advisors behind them, I'm probably not going to give them any money.
Yeah. I think that in marketing in general, my world of service, we constantly look for problems and how we can solve them. Now, are the problems things that individuals are trying to resolve a part of the Blockchain normally? 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 options that, so I'll provide you an example.
And the factor that we bought it is because they discovered a method to make files tamper-proof, and it's 99% less expensive than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that started it has a track record of creating computer programs that entire states run their whole operations on, right? So you have actually got fine, the wise person has constructed huge computer system programs, fantastic group, fixing a massive issue that is going to cut substantial expenses.
I suggest, it doesn't get any easier than that in regards to choosing who to put cash behind. And a lot of this prevails sense, and a great deal of folks will attempt to make things more complex than it is. And I have a really simple rule, Ryan. If I don't understand something, I set up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).