teeka tiwari picks 2018
master course in crypto currency teeka tiwari
|
But frauds and small frauds. And there's one thing that a scams constantly does: it always 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.
And so I can't neglect that. I've got to go dig much deeper." And so I started taking a trip all around the world. I began going to Bitcoin occasions; I began to talking with individuals that were smarter than me in this area. And what I understood is that Blockchain innovation and the execution of Blockchain innovation by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how huge that is! The implications of that, of being able to have data that we don't require to have it separately verified, it's cryptographically confirmed. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I understood I had to dedicate all my expert resources into becoming a professional in this area.
And do you think, I suggest you mentioned something there about not having to get a third-party, or intermediary to confirm 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 might not even totally understand validation procedure . We were just discussing how I'm delegating go to China, to China. And paradise prohibited it's over $10,000, and then suddenly there's other people getting notified 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 possibly see what you're saying as this development, they don't see it in their everyday life? Or what do you think about that? I think that holds true.
It's not as simple as shooting up a web internet 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 after that lastly, you can go purchase some Bitcoin.
So, a lot of individuals discover that too bothersome, and that's why the individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: individuals that are prepared to put in perhaps the 20 minutes needed to go through a procedure which simply takes five minutes if you wish to establish 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 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 in fact truly earning money an enormous quantity of cash to go through perhaps, you know, 20 minutes of a headache.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, before you'll be able to purchase cryptocurrencies straight through your trading software. And can you picture what will occur to this whole marketplace when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform.
Right now you mentioned the procedure that individuals go through, and something I wish to expose too that you didn't discuss, but I know a great deal of folks who fight with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As challenging as possible, best, like Coinbase. It 'd take me permanently before I could begin purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I mean, it's if you keep in mind the early days of the Web, when we were getting on the Internet, we were doing it with 56k modems, right? I mean 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're 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 a few of these young companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, since I'm constantly curious to speak with individuals who are, especially someone like yourself, who's dedicated 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 a typical person? That's a fantastic concern.
They're 2 completely different things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to money. So Bitcoin would be a cryptocurrency. Therefore what gives it value is that it is, there's only going to be a minimal amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, people constantly try to hack it. But because of the nature of the network, today it's been unhackable. And actually, with current 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 since they're saying, "We don't rely on paper money, you can print a limitless amount of it. It's actually not secure, and the federal government can take it far from you." - Whereas with Bitcoin, ideal , go ahead.
Yeah. Or people that remained in Cypress, or simply people who have actually suffered through either run-away inflation, or there's a high demand for, in Argentina for example, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a driver for more adoption, due to the fact that they currently do not believe in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a lot of American or Western financiers have a bumpy ride getting their head around. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You do not need Bitcoin - undefined. But there are billions of people in the world that don't have steady currencies.
Yeah. Therefore there's this entire burgeoning global need for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins. And utility coins are basically utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically a worldwide computer that you can compose computer system programs for and run computer programs on a worldwide decentralized computer program.
So we think about something like Ether an energy token, since you're basically purchasing programs power. So I wouldn't really think about Ether a cryptocurrency, I would call them an energy coin. Okay. And there are other ones out there, to offer individuals an idea, like a really simple 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 very same type of network effect that you have with Bitcoin, where it's like unstoppable kind of thing, because it's on so many different areas and. And you kind of discussed having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely energy based, fix? Mm-hmm (affirmative). The majority of the coins that I advise and look at are utility-based. We have a couple of cryptocurrencies, however I think the genuine chance depends on the utility coin space.
There's all of these ICOs that were taking place, those decreased a bit with some modifications to a few things that was going on, but individuals are going to come out of the woodwork and begin to create utility coins- Correct, yeah. And individuals require to comprehend that not all energy coins are created equal.
So you have the advantage of devoting your occupation to this, so you can head out there and do the reconnaissance, you can meet the founders, you can examine the code, etc. But for an average person, there's now what, over 1,000 different kinds of coins offered, nearly 1,200 I think. 'Cause typically it'll crash 80% or so - Does the team have experience of performing in a successful way in another area of their life? And it does not even need to be straight associated to cryptocurrency, it doesn't have to be even directly associated to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 guys in a room that are just 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 basic, my world of company, we continuously look for problems and how we can solve them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain generally? Or would you state it's much better if they're resolving kind 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 searching for options that, so I'll give you an example.
And the factor that we bought it is due to the fact that they discovered a way 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 after that on top of that, the person that began it has a performance history of developing computer programs that whole states run their whole operations on, right? So you have actually got okay, the wise man has built substantial computer system programs, fantastic team, solving an enormous problem that is going to cut big costs.
I indicate, it doesn't get any easier than that in regards to deciding who to put money behind. And a great deal of this prevails sense, and a lot of folks will try to make things more complicated than it is. And I have an actually simple guideline, Ryan. If I don't understand something, I put up my hand, and I state, "I didn't comprehend what you just stated." Mm-hmm (affirmative).