teeka tiwari 5 coins to 5 million
teeka tiwari biography
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But scams and small scams. And there's one thing 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 huge hack. Which woke something up for me.
Therefore I can't disregard that. I have actually got to go dig deeper." Therefore I started traveling all around the world. I started going to Bitcoin events; I started to talking with people that were smarter than me in this space. And what I realized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The implications of that, of having the ability to have information that we don't need to have it individually verified, it's cryptographically verified. That concept can ripple out throughout the entire higher economy. And when that penny dropped, I knew I had to devote all my expert resources into becoming an expert in this area.
And do you think, I mean 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 lot of folks may not even completely comprehend recognition process . undefined.
We were simply talking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other individuals getting informed about it, like the IRS and things like that. Do you believe that the typical folks do not maybe understand about these procedures, so they do not perhaps see what you're stating as this advancement, they don't see it in their daily life? Or what do you consider that? I believe that holds true.
It's not as easy as shooting up a web internet browser and going to e-trade. com and pushing a buy button and buying it, right? You've got to go to an exchange, you have actually got to submit your identity documents, then you have actually got to wait to get confirmed, and then lastly, you can go buy some Bitcoin.
So, a great deal of people find that too bothersome, which's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that are willing to put in possibly the 20 minutes needed to go through a procedure which just takes five minutes if you wish to set up a brokerage account.
"Oh Teeka, we enjoy your ideas, but gosh, setting up a crypto account is so tough." What I inform them is I say, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The entire cryptocurrency market will be 10x larger. So you're in fact really earning money an enormous amount of cash to go through maybe, you understand, 20 minutes of a headache.
So you can't purchase Bitcoin yet through their trading platform, but it is just a concern of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software. And can you imagine what will take place to this entire marketplace when buying Bitcoin or any cryptocurrency is as simple as shooting up your e-trade, or fidelity tradings platform.
Today you discussed the procedure that individuals go through, and one thing I desire to expose too that you didn't point out, however I understand a lot of folks who deal with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can only buy $500 a week.
As hard as possible, ideal, like Coinbase. It 'd take me forever before I could 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 Internet, when we were getting on the Web, we were doing it with 56k modems, right? I mean 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 indicate, we're in the early days of that innovation, but much like throughout 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 business, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, due to the fact that I'm always curious to talk with individuals who are, especially somebody like yourself, who's devoted the last, you understand, the bulk of the last few years to truly go both feet in on this. How do you explain cryptocurrency to like an average individual? That's a fantastic concern.
They're 2 totally different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to cash. So Bitcoin would be a cryptocurrency. And so what offers it worth is that it is, there's just going to be a restricted amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, people constantly try to hack it. But since of the nature of the network, today it's been unhackable. And really, with present innovation, the Bitcoin network is so big right now, you can't co-opt it, you can't take it over.
And so when individuals put, you've got individuals who have actually own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We do not rely on paper currency, you can print a limitless quantity of it. It's really not secure, and the government can take it away from you." - Whereas with Bitcoin, right , go ahead.
Yeah. Or individuals that remained in Cypress, or simply individuals who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, since they currently do not believe in their own currency? Yeah, and I believe we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. They're like, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't need Bitcoin - undefined. However there are billions of people worldwide that do not have steady currencies.
Yeah. And so there's this whole burgeoning international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And energy coins are generally utilized, let's say Ethereum, which a great deal of people learn about Ethereum. Ethereum is essentially an international computer system that you can compose computer programs for and run computer system programs on a globally decentralized computer program.
So we think about something like Ether an energy token, since you're basically buying programming power. So I would not actually think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to provide people a concept, like a really simple 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 sort of this exact same type of network effect that you have with Bitcoin, where it's like unstoppable example, since it's on so numerous various locations and. And you kind of pointed out having this boots on the ground experience. Now, considering that we're looking 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 believe the genuine opportunity depends on the energy coin area.
There's all of these ICOs that were occurring, those decreased a little bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and start to produce utility coins- Correct, yeah. And people need to comprehend that not all energy coins are created equal.
So you have the advantage of devoting your occupation to this, so you can go out there and do the recon, you can meet the founders, you can inspect the code, and so on. However for a typical person, there's now what, over 1,000 different types of coins readily available, almost 1,200 I think. 'Cause generally it'll crash 80% or so - undefined. Which's when we truly start looking at the idea in more detail. So here are some quick and unclean things that you should take a look at, right? So, one is, are they fixing an issue that requires to be fixed? Among the huge drawbacks with very smart, technical individuals, is that they like to resolve problems that nobody appreciates fixing.
Does the group have experience of performing in a successful manner in another area of their life? And it does not even need to be straight associated to cryptocurrency, it does not have to be even straight associated to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 people in a space that are just out of college, unless they have actually got some truly good advisors behind them, I'm most likely not going to offer them any money.
Yeah. I believe that in marketing in basic, my world of service, we continuously search for issues and how we can solve them. Now, are the issues things that people are attempting to solve a part of the Blockchain usually? Or would you say it's much better if they're fixing sort of a mass issue? 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 found a method to make files tamper-proof, and it's 99% less expensive 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 track record of producing computer programs that entire states run their whole operations on, right? So you've got fine, the smart man has actually built big computer system programs, great team, fixing an enormous problem that is going to cut huge expenses.
I mean, it doesn't get any simpler than that in regards to choosing who to put money behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complex than it is. And I have a truly easy guideline, Ryan. If I don't comprehend something, I set up my hand, and I state, "I didn't comprehend what you simply said." Mm-hmm (affirmative).