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Ted Bauman Warns Of Transaction Problems With Bitcoin

Posted by eastcoop on

There has been a lot of talk in the news recently about Bitcoin. Many people have invested money into it, thinking that the prices will go up. There are many advantages of using Bitcoin, ranging from security and privacy to the absence of any regulations by governments, for the most part. However, financial expert Ted Bauman says that there is a major problem with Bitcoin. If Bitcoin is to be scaled and become a global currency that is actually used by people all around the world, then this problem has to be fixed. The problem is that the networks that control Bitcoin transactions can complete only a limited number of transactions at a time. Learn more on Seeking Alpha about Ted Bauman

Ted Bauman writes about this in his highly sought after publication, The Bauman Letter. In an issue of the newsletter, he asks his readers to envision what life would be like sometime in the future when everyone is using Bitcoin to conduct their daily transactions, as Bitcoin enthusiasts predict.

Let us say that you have parked in a garage and you need to pay a fee in order to get out. Let us also say that you do not have any cash or credit cards on you, and you need to pay in Bitcoin. What if the Bitcoin transaction takes half an hour in order to go through? What if it takes an hour to go through? You may be stuck in the garage, unable to get out.

Bitcoin is not the same as credit cards. Credit card networks can conduct thousands of transactions each second. Visa can actually process up to twenty thousand transactions each second. Bitcoin, on the other hand, can only process up to seven transactions per second. This means that during busy times, you can end up waiting a long time for your transaction to be processed. It is not uncommon for a transaction to take forty minutes to be processed. If everyone will start using Bitcoin, it is very likely that it will start taking much longer than that. People will not want that, so Bitcoin does not yet have the capability to become a global currency that is used by everyone.

Ted Bauman is the editor of The Bauman Letter. He writes and edits for Banyan Hill Publishing. He has years of experience with investing.

Learn more:http://thesovereigninvestor.com/precisionprofits/ted-bauman/

 

FInancial Experts/Investor/Editor

Ted Bauman’s Take on Bitcoin Transaction Process

Posted by eastcoop on

You have just come from a long flight and you are headed to the airport’s parking garage for your car. It’slate and cold, and you need nothing short of a good rest. You want to get home with nothing else on your mind apart from refreshing. The year is 2020 and bitcoin craze has reached fever pitch. Everything is paid for through bitcoin. However, you misplace your wallet and credit cards,so you are unable to pay for your parking ticket in cash. You decide to pay with bitcoin since the machine takes cyber currency, thinking the process will only take few seconds. Your ticketpop out twenty minutes later.

The above scenarios of delay may rise if the bitcoin’s fundamental technology is not improved. However, you can solve this problem if you play your cards right. Bitcoin relies on a decentralized system of computers, which enables it to bypass any form of government manipulation. The creation of bitcoin follows a process known as mining. When mining is underway, bitcoins transactions is also happening. This implies that you have to wait for the mining process to complete before the transactioncan be finalized.

Comparatively, this is a slower process than a credit card transaction. Visa Cards take more than 150 million transactions in a day. A breakdown of this sees 1700 transactions per second with a possibility of taking up to 24000 transactions per second. This spells doom for bitcoin, which takes 6.5 transactions per second. These transactions take between 10 to 42 minutes for processes to be finalized.

However, bitcoin is becoming more popular and waiting time is gradually increasing. Bitcoin currency may be lost if people are unable to transact when they are using it. For bitcoin to become entirely successful, technological changes must be utilized to ease the transaction process. Check this article at Bloomberg.com to know more about Ted Bauman

 

About Ted Bauman

Ted Bauman is the Editor of Alpha Stock Alert, Plan B Club, and The Bauman Letter. Through his articles,Ted Bauman communicates about privacy, asset protection, international migration and other important matters.

Born in Washington DC, Ted moved to South Africa, attended the University of Cape Town forhis Postgraduate degrees in Economics and History. For 25 years,Bauman has served in different executive roles. Bauman has also co-authored a book titledWhere to Stash Your Cash (Legally) with his father, Robert Bauman. He is currently based in Atlanta.

Learn more:http://sovereignsociety.com/meet-the-experts/ted-bauman/

 

Investment Guru/Investing/Editor

Ted Bauman Writes To Help People Become Financially Independent

Posted by eastcoop on

Ted Bauman works hard to help people with their finances, and as the editor of three different helpful publications, he is reaching many people all over the world. When he was asked about what kind of web services or software he likes to use, he commented that he uses a spread of websites that help him with analysis, research, and getting the important information he needs. His favorite piece of software is called Stock Market Buy, and he uses it to keep an eye on stocks and to set up portfolios. He also says that while you can visit your broker’s website to find info about stock choices, you can, truly, discover this on your own by doing your own research.

Ted Bauman comes up with ideas by focusing on why they are so important to people. He looks for examples that people can relate with in order to communicate vital ideas that can help them to get on top of their finances. To keep on top of his business of the day and to stay more productive, he rises early and focuses on doing the hardest work at that time. He has revealed that he knows that the early morning hours are when he is most productive, so he ensures that he has that slot open to him as much as possible. To make sure that he is always providing people with the most relevant information of the day, Bauman makes sure that he studies and is on top of all of the latest happenings and information from both mainstream sources and less used resources that are on the internet. To know more, Click:https://www.crunchbase.com/person/ted-bauman

Ted Bauman is the editor of the Bauman Letter, Alpha Stock Alert, and Plan B Club, and he joined up with Banyan Hill Publishing in 2013. He was born in Washington D.C. but journeyed to South Africa when he was younger and lived there for many years. He attended the University of Cape Town where he graduated, and he also continued his education there earning himself History and Economics postgraduate degrees. Bauman has helped many people in South Africa, and a lot of his time there was spent managing funds for nonprofits who got people into low-cost housing. Now, as a writer, he is helping people to protect their assets and to choose wise investment opportunities that are low-risk. Ted Bauman is the go-to-guy for the latest information that can help people to manage their money more wisely. Learn more at Seeking Alpha about Ted Bauman