While bitcoin is seen as the potential currency of the future, free from government regulation, experts like Ted Bauman see problems with the scalability. What was once seen as a novel cryptocurrency to purchase things you don’t want tracked on the internet is now being considered a legitimate investment by some with a single bitcoin sometimes being valued at thousands of dollars.
The main problem Bauman sees with bitcoin is the speed of transactions. While bitcoin’s system can handle approximately 7 transactions per second that routinely take up to ten minutes each and sometimes longer, Visa’s current technology can process approximately 1,700 per second and over twenty thousand in seconds during times of high volume in comparison. This problem will be further compounded as bitcoin becomes more widely accepted as a form of payment. Follow Ted Bauman at tumblr.com
Bitcoin Has a Massive Problem It Must Address . . . #bitcoin #BitcoinCash #bitcoins #blockchain #fork #cryptocurrency #Crypto #cryptocurrencies #banyanhill #CyberSecurity #digitalcurrencyhttps://t.co/YFvaoHqYAI
— Ted Bauman Guru (@Ted_B_Guru) November 13, 2017
While most of the bitcoin community is in agreement that something needs to be done about this problem, very few are in agreement as to what should be done without sacrificing the security that is held in such high regard. Without improvement, the growth of the infamous cryptocurrency is almost sure to slow or even regress back to the novel state it began with. Until major changes are made, Bauman and others will remain skeptical about the future of bitcoin.
Ted Bauman is currently located in Atlanta, Georgia and as of 2013 joined Banyan Hill Publishing and has focused his career on research, writing and publishing works on the topics of asset protection, international finance and asset protection. He currently edits The Bauman Letter, Alpha Stock Alert, and Plan B Club and recently co-authored Where to Stash Your Cash (Legally). Graduating from the University of Cape Town with two post graduate degrees, Bauman spent two decades in South Africa as a researcher, fund manager, and consultant for low-cost housing developments. His expertise led him to serving as the director of international housing programs at Habitat for Humanity International. Visit at ideamensch.com about Ted Bauman
He also utilized his financial expertise when working with the United Nations, the South African government, and the the World Bank among others. Bauman has visited over 75 countries and believes that financial security is not only achieved through the diversity of investments, but also through diversity of investment locations. Bauman believes strongly in the rights of individuals to achieve and maintain sovereignty from governments and corporations.