Financial Expert Ted Bauman Believes Bitcoin’s Transaction Speed May Slow its Progress
We may see a functional, widely accepted cryptocurrency someday, but it won’t be bitcoin.#Crypto #cryptocurrency #cryptocurrencies #bitcoin #Ethereum #investing #stocks #StockMarket #BanyanHillhttps://t.co/re4MOkoAPo
— Ted Bauman Guru (@Ted_B_Guru) January 23, 2018
While so much of the world seems to be looking at bitcoin as the currency of the future, financial experts such as Ted Bauman are looking at it with skepticism. While the cryptocurrency’s strength lies in it’s security and freedom from government regulation, the transaction speed can be painfully slow. In a world where speed is key, this negative aspect may very well end up its downfall. Learn more at Seeking Alpha about Ted Bauman
Visa can currently process more than 20,000 transactions in seconds during peak hours, in comparison bitcoin’s infrastructure can process around seven with transactions taking up to ten minutes and more to complete. The speed may not have been a big issue when bitcoin was a novel currency mainly used to purchase things confidentially that you didn’t want to appear on your credit card statement, but with the expansion of businesses accepting the cryptocurrency it has the potential to be devastating to the future of bitcoin. This flaw is well known in the bitcoin community, but nobody seems to be able to agree on a solution that does not sacrifice the security that investors have come to value. If an agreement isn’t met and a viable solution found, this flaw could slow bitcoin’s growth and even revert it back to the novelty it once was.
Ted Bauman, is a Washington D.C. native who later emigrated to South Africa where he earned two post graduate degrees at the University of Cape Town in history and economics. During his twenty five years in South Africa, he became an expert in investing through his work as a researcher, consultant and fund manager for low-cost housing developments. At one point even working for Habitat for Humanity International as their director of international housing programs. Throughout his career, he worked with prestigious clients such the United Nations, the World Bank, and South Africa. Read:https://banyanhill.com/expert/ted-bauman/
In 2013, Ted Bauman joined Banyan Hill Publishing and focused his career on writing and researching about asset protection, investment planning, and international finance. He currently edits Plan B Club, The Bauman Letter, and Alpha Stock Report as well as recently co-writing the book Where to Stash Your Money (Legally). Bauman believes your wealth should be invested diversely in different fields and countries to minimize risk, this method is important in achieving and maintaining the sovereign life he values so much. View Ted Bauman’s profile on LinkedIn