Ted Bauman Finance Guru Expound On Bitcoin

Cryptocurrency is the current trending word in the world of finance with experts trying to analyze and predict its future. Cryptocurrency is a medium of exchange that is used to make a trade using computers. It is a digital asset that has been engineered to enhance and expand the trading market. Bitcoin is a cryptocurrency that got praises for creating a brilliant way to transfer money privately, free from government interference and safely. However, according to Ted Bauman a credible financial expert and editor of Bauman Letter, there are limits that are likely to prevent Bitcoin’s growth and general acceptance.

Ted Bauman highlighted that Bitcoin is computer generated digital assets that don’t have the potential to process large transaction numbers. To expound on this Bitcoins are produced through a mining process, and when created, bitcoins transactions go on simultaneously. For you to send or receive Bitcoins the mining process has to be completed first. As a result, to finish a Bitcoin transaction process could take a long time and produce fewer bitcoins. Compared to credit cards Bitcoins would be the least preferred.

It’s quite a disappointment if one can’t make a Bitcoin Transaction while still using it and to add to it wait hours for it. If these issues don’t get resolved, there is a higher chance that people would opt for other alternatives that are efficient and stable.

 

There are two solutions offered to rectify the issues, one including reducing the data information that is being processed in block mining or increasing the data blocks such that higher information amount gets processed at a go.

A certain group of people had tried Segregated Witness a technology that reduces Bitcoin block by moving a piece of it somewhere else with no verification.

Unfortunately, this turned out to be a miss since Bitcoins security was vulnerable.

Currently, Investors prefer Bitcoin Cash investment as they wait for a better way to resolve the Bitcoin Transactions issues.

Ted Bauman currently lives with his family in Atlanta. He was born in Wahington, D.C but later on, he moved to South Africa where he attended the University of Cape Town and got his History and Economics postgraduate degrees.

Bauman has served as a fund manager for a project in low-cost housing in non-profit organizations. As a result, he founded the Slum Dwellers International that has helped millions of people in over 34 different countries.

Bauman is currently the editor of Bauman letter where he shares his monthly insights in finance sector

More info here:https://tedbaumanguru.tumblr.com/