Ted Bauman Warns About Bitcoins Fatal Flaw

Today, Ted Bauman is one of the foremost financial authorities in the world, and in his newsletter, The Bauman Letter, under the Banyan Hill Publishing banner, he recently touched on one of the most widely talked about financial events in recent history – the rise, and potentially premature fall, of Bitcoin. While there is no mistaking the promise that Bitcoin and other cryptocurrencies hold, Bitcoin is currently facing one detrimental, if not fatal, flaw – its processing speed. As of now, Bitcoin can only process a handful of transactions each second, while traditional banking organizations such as Visa, can process thousands per second. This becomes a major problem when dealing with services that require immediate processing, such as leaving a parking deck or filling up the gas tank. Bitcoin processing can often time, take minutes, if not hours, to fully complete. As of now, this slow processing speed is severely hindering the potential of Bitcoin, and as stock prices have been fluctuating wildly over the last few weeks, Ted Bauman and like-minded finance experts are taking a cautious approach to Bitcoin investing.

Ted Bauman was born in Washington D.C. but emigrated to South Africa in his youth. There, he would complete his postgraduate studies, attending The University of South Africa, and garner degrees in economics and history. Throughout his 25 year career in South Africa, Ted Bauman worked primarily as an executive fund manager in the nonprofit sector, concentrating on securing low-cost housing for people with low incomes. He also helped to found Slum Dwellers International, which, to date, has helped millions of people around the world in regards to low-income housing. Throughout the 2000’s, Ted Bauman acted as a consultant and researcher, writing extensively on various areas of finance, while also working in conjunction with a number of reputable organizations, including the United Nations and the World Bank. In 2008, after concluding a 25-year career, Ted Bauman returned to the United States, taking the position of Director of International Housing with Habitat for Humanity. He would stay there until 2013, when, deciding to pursue a full-time career in writing and research, he left to join Banyan Hill Publishing. Today, Ted Bauman has garnered a loyal fan base, and he recently co-authored a book, “Where to Stash Your Cash (Legally),” with his father, former United States Congressman, Robert Bauman. Ted Bauman currently resides in Atlanta, GA, with his family, and works primarily from his basement office. View: https://ideamensch.com/ted-bauman/