teeka tiwari and palm beach confidential
teeka tiwari and the big black book of secrets
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But frauds and small scams. And there's one thing that a fraud 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 enormous hack. And that woke something up for me.
Therefore I can't neglect that. I've got to go dig deeper." And so I began traveling all around the world. I began going to Bitcoin events; I started to talking to people that were smarter than me in this area. And what I realized is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of being able to have data that we do not need to have it independently verified, it's cryptographically confirmed. That concept can ripple out throughout the entire greater economy. And when that penny dropped, I understood I needed to commit all my professional resources into ending up being a specialist in this space.
And do you believe, I suggest 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 great deal of folks may not even completely comprehend validation procedure . We were simply talking about how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and after that all of a sudden there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the typical folks don't possibly understand about these procedures, so they do not maybe see what you're saying as this advancement, they don't see it in their daily life? Or what do you believe about that? I think that's true.
It's not as easy 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've got to wait to get confirmed, and then finally, you can go purchase some Bitcoin.
So, a great deal of people find that too inconvenient, and that's why individuals that are actually making the most amount of money today in cryptocurrencies are the early adopters: individuals that are prepared to put in possibly the 20 minutes needed to go through a process which simply takes five minutes if you desire to establish a brokerage account.
"Oh Teeka, we like your concepts, however gosh, setting up a crypto account is so difficult." What I inform them is I state, "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 bigger. So you're actually really making money a massive quantity of money to go through perhaps, you understand, 20 minutes of a discomfort in the neck.
So you can't purchase Bitcoin yet through their trading platform, however it is just a question of time, Ryan, prior to you'll have the ability to buy cryptocurrencies straight through your trading software application. And can you imagine what will occur to this entire market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Today you mentioned the process that people go through, and something I wish to bring to light too that you didn't discuss, however I know a great deal of folks who have problem with this too, is oh, and by the method, you can only purchase $1,000 a week. Or you can only purchase $500 a week.
As challenging as possible, ideal, like Coinbase. It 'd take me permanently prior to I could begin buying in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka. I indicate, it's if you keep in mind the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I mean 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, but simply like throughout that amount of time, for the folks that had the vision to see where the future was going, and then bought in on some of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm always curious to speak with individuals who are, especially somebody like yourself, who's dedicated the last, you know, the lion's share of the last couple of years to actually go both feet in on this. How do you describe cryptocurrency to like a typical person? That's a terrific question.
They're two completely different 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. And so what offers it value is that it is, there's just going to be a restricted quantity. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, confirming the transactions on the Bitcoin network. And so if you look at that Bitcoin network, individuals constantly try to hack it. But because of the nature of the network, today it's been unhackable. And truly, with present technology, 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 literally 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 fiat money, you can print a limitless amount of it. It's truly not protect, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , go on.
Yeah. Or people that remained in Cypress, or simply individuals who have suffered through either devaluation, or there's a high need 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 think 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 money." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin - Yeah. Therefore there's this entire growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins. And energy coins are generally utilized, let's state Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is essentially a global computer that you can write computer programs for and run computer system programs on a globally decentralized computer program.
So we think about something like Ether an energy token, because you're essentially purchasing programming power. So I would not really consider Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to give people an idea, like a really basic one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's type of this exact same type of network result that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on numerous various locations and. And you type of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). Many of the coins that I suggest and take a look at are utility-based. We have a few cryptocurrencies, however I believe the real chance depends on the energy coin area.
There's all of these ICOs that were occurring, those slowed down a bit with some changes to a couple of things that was going on, but people are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And people require to comprehend that not all energy coins are developed equivalent.
So you have the advantage of devoting your occupation to this, so you can head out there and do the reconnaissance, you can fulfill the creators, you can examine the code, etc. But for an average individual, there's now what, over 1,000 different types of coins available, almost 1,200 I believe. 'Cause generally it'll crash 80% or so - Does the group have experience of performing in an effective manner 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 associated to software, right? So, however I want 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 have actually got some actually good advisors behind them, I'm most likely not going to provide them any cash.
Yeah. I think that in marketing in general, my world of service, we constantly search for issues and how we can fix them. Now, are the issues things that individuals are trying to resolve a part of the Blockchain typically? Or would you state it's better if they're solving type 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 looking for solutions that, so I'll offer you an example.
And the reason that we purchased it is because they found a way to make documents tamper-proof, and it's 99% less expensive than existing innovation, 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 performance history of creating computer system programs that entire states run their whole operations on, right? So you have actually got okay, the clever guy has actually developed big computer programs, fantastic group, fixing an enormous problem that is going to cut big expenses.
I suggest, it doesn't get any easier than that in terms of deciding who to put money behind. And a lot of this prevails sense, and a great deal of folks will try 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 just said." Mm-hmm (affirmative).