Bitcoin has been the latest craze within the financial industry, being hailed as the next great investment, and while many agree that cryptocurrency is here to stay, according to financial expert Ted Bauman, Bitcoin may not be able to overcome one fatal flaw. The editor of the Bauman Letter, presented his readership with a scenario, asking them to look into the future, visualizing a time in which Bitcoin has become mainstream. While this seems like a positive, particularly for early investors, the scalability issues concerning Bitcoin could prove to be a major problem in upcoming years. When compared to traditional institutions such as Visa, the time it takes to process a Bitcoin transaction can be ridiculously slow. While credit card transactions today are almost always instantaneous, depending on the traffic at the time, Bitcoin transactions can take up to an hour to complete. This can be a serious problem when it becomes necessary to make fast transactions, and in today’s world, this is the case more often than not.
Ted Bauman joined Banyan Hill Publishing in 2013, after a 25-year career in South Africa, and a short stint as the director of international housing with Habitat for Humanity. Today he lives in Atlanta, GA with his wife and daughter, where he works from home as the editor of Plan B Club, Alpha Stock Alert, and the Bauman Letter. As a young man, Ted Bauman relocated to South Africa, where he garnered postgraduate degrees in economics and history from the University of Cape Town. After graduation, he would serve in a number of executive roles, mostly operating in the nonprofit sector, where he helped to secure funding for various low-income housing projects. He was also a key player in the founding of Slum Dwellers International, which has helped millions of people around the world in the search for adequate housing. Throughout his career, Mr. Bauman has visited over 75 countries, spending the vast majority of this time visiting Europe, Africa, and Asia. His extensive travels have taught him about the importance of spreading wealth across different countries to achieve maximum safety, and he recently collaborated on a novel with his father, former United States Congressman, Robert Bauman, entitled “Where to Stash Your Cash (Legally).” Aside from this, he has contributed to a number of international journals, including the Journal of Microfinance, Cape Times, New Internationalist, Small Enterprise Development, and Cape Argus.
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