The Bitcoin craze continues as more and more people begin to buy this type of cryptocurrency. However Ted Bauman recently came out and warned that it’s not a reliable replacement currency for the future. Bitcoin was intended to be a nongovernmental form of currency. Ted Bauman has become very concerned with the lengthy processing times Bitcoin offers. The value of Bitcoin continues to rise and fall, with nobody able to predict how it will react in the future.
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
Ted Bauman has explained that what makes a currency reliable is its ability to process transactions in a secure and timely manner. Currently bitcoin takes more than 40 minutes to process a single transaction, according to one user. Ted Bauman compares Bitcoin to Visa, which can process nearly 1,700 transactions per second and has the capability to process nearly 24,000 transactions per second. As more people continue to use Bitcoin, the processing time will grow longer and longer, leading to increased waiting times. Nobody has the time to wait 20 minutes to complete a transaction, today’s busy world. Follow Ted Bauman on Twitter to know more about him.
People have attempted to find a way to solve this problem but no solution has been found yet. This is because of several issues. The main issue is the delicate balance between speed and security. When you increase the speed of processing transactions, you must reduce the data in each mined block, or increase the size of the data blocks. Both options leave some data exposed. For those considering Bitcoin, Ted Bauman encourages them to continue to buy gold to protect their portfolios from possible financial collapse.
Ted Bauman is currently the editorial director for Banyan Hill Publishing. Along with BHP, he is the editor for several publications including The Bauman Letter, Plan B Club and the Alpha Stock Alert. Ted Bauman is knowledgeable in asset protection, privacy issues, low-risk management and global migration.
Check this article at Bloomberg.com to know more about Ted Bauman
Ted Bauman was born and raised in the Washington D.C. metro area and later emigrated to South Africa. While in South Africa, he attended the University of Cape Town and studied economics and history. He graduated with bachelor’s degrees. During his time in South Africa, he spent 25 years serving in executive roles with several nonprofit based organizations. Ted Bauman is dedicated to help people lead a life, free from government interference and corporate greed. He and his family reside in Atlanta, Georgia. Ted Bauman continues to help those in need of his sound business advice.
More information here:https://tedbaumanguru.com/