Ted Bauman has explained that if bitcoin remains as it is now, it will either function extremely slow in the future or it will simply disappear, altogether. As a decentralized network it is only in existence inside of different computers all over the world, and it cannot be tampered with by the government. These bitcoins are created through a computer process that can be slow sometimes, because people have to wait for a process called “mining” to be completed before anything happens on a transaction. When comparing the possible amount of transactions for bitcoin versus credit cards, the number is small, and this means something needs to change to make them faster.
Ted Bauman has suggested that one possible solution to this problem could be to decrease the amount of data that mining blocks process while also making data blocks bigger. One solution was tried where part of the data was moved to another area, but this makes bitcoin not as secure as before. Others have looked to blockchain technology, which increases block sizes to eight megabytes, in turn, speeding up the process of verifying a transaction. This is being called Bitcoin Cash, and this currency is increasing in value while bitcoin is dropping. At this time, Bitcoin Cash is the only fork that can be invested in, but it is expected that other opportunities will rise. The reason for this is that people are having a hard time finding one solution that everyone agrees on. While Ted Bauman is skeptical about investing to heavily in bitcoin, at this time, he does point out to the possibility that it could be something huge. Learn more at seekingalpha.com about Ted Bauman
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
Ted Bauman is the editor of The Bauman Letter, Alpha Stock Alert, and Plan B Club as well as a contributor to Banyan Hill Publishing since 2013. His life’s mission has been to guide people to the resources they need to live a life of freedom from the greed of corporations and the oversight of the government. He was born in Washington D.C. but emigrated to South Africa when he was younger. While there, he earned postgraduate degrees in History and Economics while attending the University of Cape Town and also worked with numerous nonprofits as their fund manager. Eventually, he came back to the United States and worked as Director of International Housing Programs for Habitat for Humanity International. In 2013, he struck out on his own to pursue his passion to become a writer and researcher. Read:https://banyanhill.com/expert/ted-bauman/