teeka tiwari bitcoin glen beck
ethereum price prediction by teeka tiwari
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But scams and small scams. 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 huge hack. And that woke something up for me.
Therefore I can't neglect that. I have actually got to go dig deeper." Therefore I started taking a trip all around the world. I began going to Bitcoin occasions; I started to talking to individuals that were smarter than me in this area. And what I realized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of having the ability to have data that we do not need to have it independently validated, it's cryptographically verified. That principle 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 specialist in this space.
And do you believe, I imply you pointed out 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 totally comprehend validation process . undefined.
We were just talking about how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and after that all of an unexpected there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the average folks don't perhaps learn about these processes, so they do not maybe see what you're saying as this development, they don't see it in their daily life? Or what do you think of that? I believe that holds true.
It's not as simple as firing 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 upload your identity documents, then you've got to wait to get confirmed, and after that finally, you can go purchase some Bitcoin.
So, a lot of people discover that too bothersome, and that's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that want to put in possibly the 20 minutes required to go through a process which simply takes 5 minutes if you wish to set up a brokerage account.
"Oh Teeka, we enjoy your ideas, however gosh, setting up a crypto account is so challenging." 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 a huge 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 just a concern of time, Ryan, before you'll be able to purchase cryptocurrencies directly through your trading software application. And can you imagine 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.
Today you discussed the procedure that individuals go through, and something I want to expose too that you didn't discuss, however I understand a lot of folks who fight with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me permanently before I could begin purchasing in size on Coinbase. They resemble, well, we'll let you buy $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 pack 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, but simply like throughout that duration of time, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to talk to people who are, especially someone like yourself, who's devoted the last, you know, the bulk of the last couple of years to really go both feet in on this. How do you describe cryptocurrency to like a typical individual? 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 attempting to be an option to money. So Bitcoin would be a cryptocurrency. And so what offers it worth is that it is, there's just going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously try to hack it. But since of the nature of the network, today it's been unhackable. And actually, with present innovation, the Bitcoin network is so big today, you can't co-opt it, you can't take it over.
And so when individuals put, you've got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not trust paper cash, you can print a limitless quantity of it. It's really not secure, and the federal government can take it away from you." - Whereas with Bitcoin, ideal , go on.
Yeah. Or people that remained in Cypress, or simply people who have suffered through either devaluation, or there's a high need for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, since they currently don't believe in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a difficult time getting their head around. They resemble, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You do not require Bitcoin - Yeah. Therefore there's this entire blossoming global demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins. And utility coins are generally utilized, let's say Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a worldwide computer that you can compose computer system programs for and run computer programs on an internationally decentralized computer system program.
So we consider something like Ether an utility token, since you're essentially buying shows 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 a very easy one that I would imagine you 'd called an utility 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 type of network effect that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on so many different locations and. undefined. I don't understand the ins and outs of it, but as an example for somebody who may simply be very fundamental in their understanding of this, there are numerous different kinds of energies that are readily available.
And you type of mentioned having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, but I think the genuine chance lies in the utility coin space.
There's all of these ICOs that were happening, those slowed down a 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 develop energy coins- Correct, yeah. And individuals need to comprehend that not all energy coins are developed equivalent.
So you have the advantage of committing your profession to this, so you can head out there and do the reconnaissance, you can satisfy the founders, you can examine the code, etc. However for an average individual, there's now what, over 1,000 various types of coins offered, nearly 1,200 I think. 'Cause generally it'll crash 80% or two - Does the group have experience of executing in a successful way in another area of their life? And it does not even need to be directly related to cryptocurrency, it does not have to be even directly associated to software application, right? So, however I want to see a track record of success in something, right? If it's 4 guys in a space that are simply out of college, unless they have actually got some truly good consultants behind them, I'm most likely not going to provide any money.
Yeah. I think that in marketing in general, my world of service, we continuously look for problems and how we can resolve them. Now, are the issues things that people are attempting to resolve a part of the Blockchain typically? Or would you say it's better if they're fixing 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 essentially trying to find options that, so I'll provide you an example.
And the factor that we purchased it is because they found a way to make files tamper-proof, and it's 99% more affordable than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the man that began it has a track record of developing computer programs that entire states run their whole operations on, right? So you have actually got alright, the clever guy has developed substantial computer system programs, excellent team, resolving a huge issue that is going to cut big expenses.
I imply, 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 complex than it is. And I have a really simple guideline, Ryan. If I don't comprehend something, I installed my hand, and I state, "I didn't comprehend what you simply said." Mm-hmm (affirmative).