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
Over the recent years, Bitcoin has gradually gained popularity as a leading cryptocurrency, and 2017 was the year when the value of Bitcoin skyrocketed. The nature of Bitcoin makes it attractive and promising, especially given that its decentralized nature of operation means that there is no possibility of government interference, as is typical with most other currencies. However, this advantage does not come without problems, and as Ted Bauman, an experienced and accomplished investor notes, these issues have the potential to reduce the usefulness of Bitcoin all-together.
Bauman notes that scalability is one of the pressing issues that face bitcoin. As things are right now, the transaction times for a bitcoin transaction are painfully slow, with some even having been reported to take more than 40 minutes. This is because according to how the bitcoin technology is made, it can handle only about seven transactions per second, while other modes of payment such as Visa can handle about 24,000 transactions per second. This slow speed of processing means that people may find payments using bitcoin inconveniencing and therefore revert to alternative modes of payment. Learn more at Crunchbase about Ted Bauman
From his wealth of experience, Ted Bauman suggests that this situation can only be remedied by reducing the amount of data that can be processed in a single mining block, or by increasing the data blocks so that many transactions can be handled concurrently. Fortunately, Bitcoin users have already considered these, and this has led to the emergence of a new currency, Bitcoin Cash, which is an extension of bitcoin. With Bitcoin Cash, the processing of transactions is done on a much larger system, and this has dramatically helped to speed up the verification process. This development has made the value of bitcoin to start decreasing as that of Bitcoin Cash goes up.
The precision of his investment advice shows the excellent grasp that Bauman has on the subject. He is a native of Washington D.C. but later moved to South Africa where he pursued his postgraduate studies at the University of Cape Town. He then built his career and honed his skills as a consultant and a researcher, among others.
He has rendered his services to giant companies such as the World Bank, the UN, and the government of South Africa, among other clients. At the moment, he has devoted his life to research, and works with Banyan Publishing, and is the editor of The Bauman Letter, where he focusses on issues like investment finance, low-risk investment strategies, asset protection among others.
Read more on Ezine Articles:https://ezinearticles.com/expert/Ted_Bauman/1964192