Ted Bauman Shares Insight into the Bitcoin Craze

Bitcoin has been increasing in value, and it is the reason why people around the world are investing in it. But, according to Ted Bauman, there are not very good things about Bitcoin at the moment. The only benefit that the Bitcoin users enjoy is that it is decentralized and the government has no control over its value. Since Bitcoin can be mined using supercomputers, it is more secure and private too. The value of Bitcoin has been increasing only due to the speculations about its usability, but many people do not know how and when they can use it. Once they study a little deeper, they will find the flaws that Bitcoin will pose for the users. Check:http://thesovereigninvestor.com/precisionprofits/ted-bauman/

Ted Bauman explained the problem with Bitcoin with a simple example. He asked the readers to imagine themselves at the airport in the year 2020 and looking to drive their cars as soon as possible after a long meeting in another city. The reader head back to the airport garage and finds that he does not have his wallet with him. They feel relieved knowing that the parking accepts Bitcoin as payment as well. But, when you use your Bitcoins at the airport garage counter, it takes about 20 minutes for the transaction to be completed. By the time it is completed, you are frustrated, and there is a long line of cars behind you leaving you embarrassed. Ted Bauman feels that this scenario is likely to come true for most people if they Bitcoin technology is not improved. There is no denying that Bitcoin technology offers many opportunities to the users, but with its flaws, it can be unusable. Digital payments need to be quick and efficient, and Bitcoin transactions are a long way from it. The long transaction wait of Bitcoin makes it ineffective for any business transaction and can slow down the economy if it is adopted as currency by countries.

Ted Bauman has been sharing his expertise on the cryptocurrencies for many years besides other financial topics through his publishing company, Banyan Hill Publishing. She conducts thorough research on different economic topics and writes about them through articles monthly and sometimes weekly. He spent most of his adult life in South Africa where he shifted with his parents when he was young. He currently lives in the United States and works as an independent financial advisor along with the editorial director of Banyan Hill Publishing. Learn more at Crunchbase about Ted Bauman