stock gumshoe teeka tiwari next bitcoin
teeka tiwari linkedin
|
But frauds and small frauds. And there's one thing that a fraud always does: it constantly goes to no. But 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 ignore that. I've got to go dig much deeper." Therefore I began traveling all around the world. I started going to Bitcoin occasions; I started to speaking to individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how massive that is! The ramifications of that, of having the ability to have information that we don't require to have it individually validated, it's cryptographically verified. That idea can ripple out throughout the whole greater economy. And when that penny dropped, I understood I had to dedicate all my expert resources into becoming a professional in this space.
And do you think, I imply you pointed out 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 great deal of folks may not even fully understand validation procedure . undefined.
We were simply speaking about how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and after that suddenly there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks do not perhaps understand about these procedures, so they do not perhaps see what you're saying as this development, they do not see it in their everyday life? Or what do you consider that? I think 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 have actually got to go to an exchange, you've got to publish your identity files, then you have actually got to wait to get validated, and after that finally, you can go buy some Bitcoin.
So, a lot of individuals discover that too inconvenient, and that's why the people that are literally making the most amount of money right now in cryptocurrencies are the early adopters: people that are ready to put in possibly the 20 minutes needed to go through a process which simply takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we like your ideas, but gosh, setting up a crypto account is so tough." What I tell 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 actually truly making money a massive amount of cash to go through maybe, you know, 20 minutes of a pain in the neck.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software. And can you envision what will take place 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 procedure that individuals go through, and one thing I wish to expose too that you didn't discuss, but I understand a great deal of folks who have problem with this too, is oh, and by the way, you can only purchase $1,000 a week. Or you can only buy $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me forever before I might start buying in size on Coinbase. They resemble, well, we'll let you buy $500 a week, Teeka. I imply, it's if you remember the early days of the Internet, 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 imply, we remain in the early days of that technology, however similar to during that duration 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 companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a second, since I'm always curious to speak with people who are, specifically somebody like yourself, who's committed the last, you know, the lion's share of the last few years to truly go both feet in on this. How do you describe cryptocurrency to like an average individual? That's an excellent question.
They're 2 totally various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's only going to be a limited 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. And so if you look at that Bitcoin network, individuals constantly try to hack it. However since of the nature of the network, today it's been unhackable. And truly, with current technology, 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 literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We don't rely on fiat money, you can print an unlimited amount of it. It's truly not secure, and the federal government can take it far from you." - Whereas with Bitcoin, best , go on.
Yeah. Or individuals that remained in Cypress, or just people who have suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could potentially be a driver for more adoption, because they currently don't believe in their own currency? Yeah, and I believe 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 don't need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin - undefined. However there are billions of individuals in the world that do not have stable currencies.
Yeah. And so there's this whole blossoming worldwide need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And energy coins are essentially used, let's say Ethereum, which a great deal of people understand about Ethereum. Ethereum is basically a global computer system that you can compose computer programs for and run computer system programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, because you're basically purchasing programs power. So I would not truly think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to give individuals a concept, like an extremely basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's sort of this same kind of network impact that you have with Bitcoin, where it's like unstoppable example, since it's on numerous various areas and. undefined. I do not know the ins and outs of it, but as an example for somebody who might simply be very standard in their understanding of this, there are a lot of different kinds of utilities that are readily available.
And you sort of pointed out having this boots on the ground experience. Now, because we're taking a look at the bulk of these are most likely utility based, fix? Mm-hmm (affirmative). Most of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, but I think the real opportunity lies in the energy coin area.
There's all of these ICOs that were taking place, those decreased 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 begin to develop utility coins- Correct, yeah. And individuals need to understand that not all utility coins are produced equal.
So you have the benefit of devoting your profession to this, so you can head out there and do the reconnaissance, you can satisfy the founders, you can examine the code, and so on. But for a typical person, there's now what, over 1,000 different types of coins offered, nearly 1,200 I believe. 'Cause typically it'll crash 80% or so - undefined. And that's when we actually 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 solving an issue that requires to be resolved? One of the huge downsides with really wise, technical people, is that they like to solve issues that nobody cares about resolving.
Does the team have experience of performing in a successful manner in another area of their life? And it does not even need to be directly associated to cryptocurrency, it does not need to be even straight associated to software, right? So, but I want to see a track record of success in something, right? If it's four guys in a room that are just out of college, unless they've got some actually good advisors behind them, I'm probably not going to provide any money.
Yeah. I think that in marketing in basic, my world of company, we continuously try to find issues and how we can resolve them. Now, are the problems things that people are attempting to solve a part of the Blockchain typically? 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 basically trying to find services that, so I'll give you an example.
And the factor that we purchased it is since they discovered a method to make documents tamper-proof, and it's 99% cheaper than current technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that began it has a track record of creating computer system programs that whole states run their whole operations on, right? So you have actually got okay, the smart person has built substantial computer system programs, excellent group, fixing a massive issue that is going to cut substantial costs.
I mean, it does not get any simpler than that in regards to deciding who to put cash behind. And a lot of this prevails sense, and a lot of folks will try to make things more complex than it is. And I have an actually easy guideline, Ryan. If I do not comprehend something, I installed my hand, and I state, "I didn't comprehend what you just said." Mm-hmm (affirmative).