Ted Bauman recently published an article on Bitcoin and the weaknesses of the popular digital currency. Bitcoin continues to grow in popularity and has been for some time now. There are many reasons for the popularity but the main one is the power to conduct financial transactions without interference from the government, and a large degree of security and privacy. The transactions are a big part of freedom of government control but they come with a major flaw. One transaction for bitcoin can take more than 10 minutes to complete. People today want their money right away, so this is a major concern.
Because of the concern over the long transaction times, consumers have begun looking for a new alternative form of currency and have turned to Bitcoin Cash. As soon as Bitcoin Cash came out it tanked the Bitcoin prices. However, most people were not aware that all the Bitcoin currency that existed before was now part of the Bitcoin Cash system. Ted Bauman now believes that investing in Bitcoin will return his readers a large sum. He bases this belief because he sees a flaw in Bitcoin Cash, which will give rise to Bitcoin value. Visit Ted Bauman at thesovereigninvestor.com to know more.
Ted Bauman says that bitcoin will not work as a currency because of the 40 minute processing time for transactions. He compared Bitcoin’s transaction times to Visa which can process nearly 1,700 transactions every second, while Bitcoin currently can only process 6.5 transactions per second. As more people begin to use bitcoin, the processing time will become even longer, meaning a longer waiting time.
Ted Bauman acknowledges that attempts are being made to solve this problem, but nobody has found a workable solution. The main reason is because of the speed and security need. When you increase speed, either the amount of data processed in each bitcoin mining sample will be reduced or the size of the blocks of data will increase. Both of these options will create some minor holes in security. View Ted Bauman’s profile on LinkedIn
Ted Bauman became the editorial director at Banyan Hill Publishing in 2013. He also is lead editor of the Bauman Letter, Plan B Club and Alpha Stock Alert. His specialties include asset protection and privacy matters. He’s also knowledgeable in international migration issues and low-risk investment. Ted Bauman was born and raised in the Washington D.C. region. He emigrated to South Africa, where he studied economics and history. Ted Bauman now lives in Atlanta, Georgia.
Inflation Is Staring You in the Face. Are You Prepared? Will You Profit?#inflation #economy #quantitativeeasing #monetarypolicy #interestrates #stockmarket #stocks #investing #banyanhillhttps://t.co/dGcqmqThc0
— Ted Bauman Guru (@Ted_B_Guru) December 4, 2017
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