Aside from the fact that Bitcoin has become one of the most intriguing internet phenomena, Ted Bauman believes that it might have serious problems in the future. In his article, Bitcoin Has a Massive Problem, he discusses some of the glaring problems that could face it in the future. In this way, he hopes to help his reader fully take financial advantage of the cryptocurrency.
Bauman explains that the first thing the reader needs to be aware of is the disadvantages of Bitcoins. His major gripe with the digital currency is that the transaction times are extremely slow due to the processing it must go through. Because Bitcoin is not centralized, this means that the computers may need to engage in a type of “mining” to create new ones and process orders. In a world where 1,700 financial transactions are completed in an hour, this is simply unacceptable.
These transaction times are horrible and even though Bitcoin has tried to resolve them, they have not been able to change the underlying code of the currency. Instead, a new currency has rose in popularity, Bitcoin Cash. The best thing about this is that any Bitcoin that existed before this currency released is included in the new one. This creates a huge potential for the next inevitable tier of cryptocurrency. Bauman explains that his readers should buy the original currency and simply wait for the next upgrade in currency. He assures that it is money in the bank.
Ted Bauman has been a pillar of the finance community for years. Since his graduation from the University of Cape Town with graduate degrees in Economics and History, he has put his talents to good use helping the community. In general, he has always been in the business of helping people, as evidenced by his articles. Before he was a writer, he worked as a fund manager planning low-cost housing. He eventually caught the eye of major organizations and was recruited to help with their projects as well. For many years Bauman applied his talents in over 75 different countries, making substantial business contacts. Now, Bauman uses those contacts to provide financial information to his readers. He is an expert in finance, international migrations, and low-risk investment strategies. His work continues to impact people in a genuine and meaningful way. While this article may be about Bitcoins, it is just an extension of the help that Bauman has always readily extended throughout his entire career.