teeka tiwari transparency
bitcoin teeka tiwari
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However frauds and small scams. And there's something 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 problem came out. The enormous 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 people that were smarter than me in this space. And what I recognized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overemphasize how massive that is! The ramifications of that, of having the ability to have data that we don't need to have it individually confirmed, it's cryptographically confirmed. That idea can ripple out throughout the entire higher economy. And when that cent dropped, I understood I needed to commit all my expert resources into becoming a specialist in this area.
And do you believe, I imply you pointed out something there about not needing to get a third-party, or intermediary to verify something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a lot of folks may not even totally understand validation process . We were just discussing how I'm delegating go to China, to China. And heaven prohibited it's over $10,000, and then suddenly there's other individuals getting informed about it, like the IRS and things like that. Do you believe that the typical folks don't perhaps understand about these processes, so they don't perhaps see what you're saying as this advancement, they don't see it in their everyday 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've got to go to an exchange, you've got to submit your identity documents, then you've got to wait to get verified, and then lastly, you can go buy some Bitcoin.
So, a lot of individuals find that too bothersome, and that's why the people that are actually making the most amount of money today in cryptocurrencies are the early adopters: people that are willing to put in possibly the 20 minutes required to go through a process which simply takes 5 minutes if you want to establish a brokerage account.
"Oh Teeka, we like your concepts, but gosh, establishing a crypto account is so tough." What I tell them is I state, "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 actually truly making money an enormous amount of money to go through perhaps, you know, 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, before you'll have the ability to purchase cryptocurrencies directly through your trading software application. And can you picture what will take place 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 pointed out the process that people go through, and something I wish to bring to light too that you didn't point out, but I understand a lot of folks who deal 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 tough as possible, right, like Coinbase. It 'd take me permanently prior to I could start buying in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka. I imply, it's if you remember the early days of the Internet, when we were getting on the Web, 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 simply like during that time period, 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 companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm always curious to talk with individuals who are, specifically somebody like yourself, who's committed the last, you know, the much better part of the last few years to truly go both feet in on this. How do you describe cryptocurrency to like a typical person? That's a fantastic question.
They're two totally different things, however 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. And so what provides it worth is that it is, there's only going to be a minimal amount. There'll never 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 constantly 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 huge right now, you can't co-opt it, you can't take it over.
And so when people put, you have actually 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 trust fiat money, you can print an unrestricted quantity of it. It's actually not secure, and the government can take it away from you." - Whereas with Bitcoin, ideal , proceed.
Yeah. Or people that were in Cypress, or just individuals who have suffered through either devaluation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those countries that could possibly be a catalyst for more adoption, since they currently don't believe in their own currency? Yeah, and I think we've already seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. They're like, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin - Yeah. Therefore there's this entire blossoming global demand for cryptocurrencies. So anyhow, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins. And energy coins are essentially utilized, let's state Ethereum, which a great deal of individuals learn about Ethereum. Ethereum is basically an international computer system that you can write computer system programs for and run computer programs on a globally decentralized computer system program.
So we consider something like Ether an energy token, due to the fact that you're basically buying programs 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 individuals an idea, like an extremely simple one that I would imagine you 'd called an energy token, resembles FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this very same type of network impact that you have with Bitcoin, where it resembles unstoppable example, because it's on so lots of different locations and. undefined. I don't know the ins and outs of it, but as an example for someone who may simply be extremely standard in their understanding of this, there are numerous various kinds of energies that are available.
And you sort 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 utility based, remedy? Mm-hmm (affirmative). Many of the coins that I recommend and take a 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 occurring, those decreased a little bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and begin to develop utility coins- Correct, yeah. And people need to comprehend that not all energy coins are produced equal.
So you have the advantage of dedicating your occupation to this, so you can head out there and do the recon, you can satisfy the creators, you can examine the code, etc. But for an average person, there's now what, over 1,000 various kinds of coins readily available, nearly 1,200 I think. 'Cause generally it'll crash 80% or so - undefined. Which's when we truly start taking a look at the idea in more information. So here are some fast and filthy things that you should take a look at, right? So, one is, are they fixing an issue that requires to be solved? Among the big drawbacks with extremely smart, technical individuals, is that they like to resolve problems that no one appreciates solving.
Does the group have experience of carrying out in an effective way in another area of their life? And it does not even have to be straight related to cryptocurrency, it doesn't need to be even straight associated to software, right? So, but I desire to see a track record of success in something, right? If it's 4 people in a space that are simply out of college, unless they've got some truly excellent advisors behind them, I'm probably not going to provide any cash.
Yeah. I believe that in marketing in general, my world of service, we constantly search for issues and how we can solve them. Now, are the problems things that people are trying to solve a part of the Blockchain generally? Or would you state it's better if they're resolving 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 searching for options that, so I'll provide you an example.
And the factor that we bought it is because they discovered a method to make files tamper-proof, and it's 99% less expensive than current technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a performance history of creating computer system programs that whole states run their whole operations on, right? So you have actually got alright, the smart man has actually constructed huge computer system programs, fantastic group, solving an enormous problem that is going to cut huge costs.
I indicate, it does not get any easier than that in regards to deciding who to put money behind. And a great deal of this is common sense, and a lot of folks will try to make things more complicated than it is. And I have a really basic rule, Ryan. If I do not understand something, I set up my hand, and I state, "I didn't understand what you just stated." Mm-hmm (affirmative).