palm beach confidential quarterly income" by teeka tiwari
teeka tiwari bitcoin crypto master course
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But scams and small frauds. And there's one thing that a fraud always does: it constantly goes to 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 massive hack. And that woke something up for me.
And so I can't disregard that. I have actually got to go dig deeper." And so I started traveling all around the world. I began going to Bitcoin occasions; I started to speaking to individuals that were smarter than me in this space. And what I understood is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of being able to have data that we don't require to have it individually validated, it's cryptographically confirmed. That principle can ripple out throughout the entire greater 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 believe, I indicate you pointed out 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 totally comprehend validation process . We were just talking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and after that suddenly there's other individuals getting notified about it, like the IRS and things like that. Do you think that the average folks do not perhaps understand about these processes, so they don't 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've got to go to an exchange, you've got to submit your identity files, then you have actually got to wait to get verified, 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: individuals that are ready to put in perhaps the 20 minutes required to go through a process which just takes 5 minutes if you want to establish a brokerage account.
"Oh Teeka, we love your ideas, however gosh, setting up a crypto account is so hard." 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 whole cryptocurrency market will be 10x larger. So you're in fact really making money an enormous quantity of money to go through perhaps, you understand, 20 minutes of a nuisance.
So you can't purchase Bitcoin yet through their trading platform, but it is just a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies straight through your trading software application. And can you envision what will happen to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as easy as shooting up your e-trade, or fidelity tradings platform.
Right now you mentioned the process that people go through, and one thing I want to bring to light too that you didn't mention, but I understand a lot of folks who battle with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As hard as possible, best, like Coinbase. It 'd take me forever before I might start buying in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka. I mean, it's if you keep in mind 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 load 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 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 absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm always curious to talk with people who are, particularly somebody like yourself, who's devoted the last, you know, the lion's share of the last few years to actually go both feet in on this. How do you describe cryptocurrency to like an average person? That's a terrific concern.
They're two absolutely various things, however 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 offers it value is that it is, there's just going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the deals on the Bitcoin network. Therefore if you take a look at that Bitcoin network, individuals continuously try to hack it. But due to the fact that of the nature of the network, today it's been unhackable. And truly, with existing technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over.
And so when people put, you've got people 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 trust paper currency, you can print an endless amount 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 remained in Cypress, or just people who have suffered through either devaluation, or there's a high demand for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, since they currently don't think 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 difficult time getting their head around. They're like, "Well I don't require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin - Yeah. Therefore there's this entire burgeoning international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And utility coins are basically utilized, let's state Ethereum, which a lot of people know about Ethereum. Ethereum is basically a global computer that you can write computer system programs for and run computer programs on a globally decentralized computer program.
So we think about something like Ether an energy token, because you're basically buying programming power. So I would not really think about Ether a cryptocurrency, I would call them an utility coin. Okay. And there are other ones out there, to provide people an idea, like a really easy one that I would picture you 'd called an energy token, resembles FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's kind of this very same kind of network impact that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on a lot of various areas and. undefined. I do not know the ins and outs of it, however as an example for somebody who might just be really standard in their understanding of this, there are a lot of different types of energies that are available.
And you kind 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 advise and take a look at are utility-based. We have a couple of cryptocurrencies, but I believe the real opportunity lies in the utility coin space.
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, however people are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people need to understand that not all utility coins are developed equivalent.
So you have the benefit of devoting your occupation to this, so you can go out there and do the recon, you can fulfill the founders, you can check the code, and so on. However for an average individual, there's now what, over 1,000 various types of coins offered, almost 1,200 I think. 'Cause generally it'll crash 80% or so - undefined. And that's when we really start taking a look at the concept in more information. So here are some quick and dirty things that you should look at, right? So, one is, are they fixing a problem that requires to be fixed? Among the big drawbacks with very clever, technical individuals, is that they like to fix issues that nobody appreciates fixing.
Does the team have experience of executing in a successful way in another area of their life? And it doesn't even have to be directly associated to cryptocurrency, it doesn't have to be even directly related to software, right? So, however I desire to see a performance history of success in something, right? If it's 4 men in a space that are simply out of college, unless they've got some truly good advisors behind them, I'm probably not going to provide any money.
Yeah. I believe that in marketing in general, my world of business, we constantly try to find issues and how we can resolve them. Now, are the problems things that individuals are trying to solve a part of the Blockchain normally? Or would you say it's better if they're solving 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 trying to find services that, so I'll give you an example.
And the factor that we purchased it is due to the fact that they found a method to make documents tamper-proof, and it's 99% less expensive than existing technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that started 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 clever person has constructed huge computer programs, excellent group, fixing a massive problem that is going to cut big expenses.
I suggest, it doesn't get any simpler than that in terms of 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 an actually easy guideline, Ryan. If I don't comprehend something, I put up my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).