palm beach � confidential teeka tiwari and bitcoin filetpye:pdf
teeka tiwari webinar july 19
|
However scams and small scams. And there's something that a scams constantly 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 problem came out. The huge hack. Which woke something up for me.
And so I can't ignore that. I've got to go dig deeper." And so I started traveling all around the world. I started going to Bitcoin occasions; I began to speaking with individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the application of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have information that we don't need to have it individually confirmed, it's cryptographically verified. That principle can ripple out throughout the whole greater economy. And when that penny dropped, I knew I had to devote all my professional resources into ending up being a specialist in this space.
And do you believe, I imply you mentioned something there about not needing to get a third-party, or intermediary to validate something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a lot of folks might not even completely understand validation procedure . 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 people getting notified about it, like the IRS and things like that. Do you believe that the average folks don't possibly understand about these processes, so they do not maybe see what you're stating as this advancement, they do not see it in their daily life? Or what do you think of 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 pressing a buy button and purchasing it, right? You have actually got to go to an exchange, you have actually got to upload your identity documents, then you have actually got to wait to get validated, and after that finally, you can go buy some Bitcoin.
So, a great deal of people discover that too bothersome, and that's why the individuals that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: individuals that are willing to put in perhaps the 20 minutes required to go through a process which simply takes five minutes if you desire to set up a brokerage account.
"Oh Teeka, we love your concepts, but gosh, establishing a crypto account is so hard." 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 making money an enormous amount of money to go through perhaps, you understand, 20 minutes of a nuisance.
So you can't buy Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, before you'll have the ability to buy cryptocurrencies straight through your trading software. And can you imagine what will take place to this whole market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Right now you pointed out the process that individuals go through, and one thing I want to expose too that you didn't point out, but I understand a great deal of folks who battle with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can only buy $500 a week.
As tough as possible, right, like Coinbase. It 'd take me forever prior to I might start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I suggest, 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 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're in the early days of that innovation, however similar to throughout that amount of time, for the folks that had the vision to see where the future was going, and after that bought in on a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, due to the fact that I'm always curious to speak to individuals who are, specifically someone like yourself, who's committed the last, you understand, the lion's share of the last couple of years to actually go both feet in on this. How do you explain cryptocurrency to like a typical person? That's an excellent concern.
They're two absolutely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an option to money. So Bitcoin would be a cryptocurrency. Therefore what provides it value is that it is, there's only going to be a restricted quantity. There'll never ever 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 take a look at that Bitcoin network, individuals continuously try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And actually, with existing innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
Therefore 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 saying, "We do not trust paper cash, you can print an unrestricted quantity of it. It's truly not secure, and the federal government can take it far from you." - Whereas with Bitcoin, right , go ahead.
Yeah. Or individuals that remained in Cypress, or simply people who have suffered through either devaluation, 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 catalyst for more adoption, due to the fact that 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 financiers have a difficult time getting their head around. They resemble, "Well I do not require Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin - Yeah. And so there's this entire burgeoning global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And energy coins are essentially used, let's say Ethereum, which a great deal of people know about Ethereum. Ethereum is basically a global computer system that you can compose computer system programs for and run computer programs on a globally decentralized computer system program.
So we think about something like Ether an energy token, because you're essentially buying programs 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 an idea, like an extremely basic one that I would imagine you 'd called an energy token, is like FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's kind of this very same kind of network result that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on numerous different locations and. And you sort of discussed having this boots on the ground experience. Now, given that we're taking a look at the bulk of these are most likely utility based, remedy? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, but I believe the genuine opportunity depends on the utility coin area.
There's all of these ICOs that were happening, those slowed down a little bit with some modifications to a couple of things that was going on, however individuals are going to come out of the woodwork and start to develop utility coins- Correct, yeah. And people need to comprehend that not all utility coins are developed equivalent.
So you have the advantage of devoting your occupation to this, so you can go out there and do the reconnaissance, you can meet the creators, you can check the code, etc. However for a typical person, there's now what, over 1,000 different kinds of coins offered, practically 1,200 I believe. 'Cause normally it'll crash 80% or two - 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 straight associated to cryptocurrency, it doesn't have to be even directly related to software application, right? So, but I desire to see a performance history of success in something, right? If it's four men in a room that are just out of college, unless they've got some truly good advisors behind them, I'm most likely not going to provide any money.
Yeah. I believe that in marketing in general, my world of organization, we continuously try to find issues and how we can solve them. Now, are the issues things that people are attempting to resolve a part of the Blockchain normally? Or would you state it's better if they're fixing type 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 basically searching for solutions that, so I'll give you an example.
And the factor that we bought it is since they found a way to make files tamper-proof, and it's 99% less expensive than current 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 whole states run their entire operations on, right? So you have actually got okay, the smart person has actually developed big computer system programs, great group, resolving a huge issue that is going to cut big expenses.
I indicate, it does not get any easier than that in regards to deciding who to put cash behind. And a great deal of this prevails sense, and a lot of folks will attempt to make things more complicated than it is. And I have a really basic rule, Ryan. If I don't understand something, I put up my hand, and I state, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).