Ted Bauman notes that there could be trouble brewing when it comes to Bitcoin. This is precisely because of the processing time for Bitcoin transactions. He notes that if things do not change in the near future, it would be impossible for people to pay for transactions flawlessly. This could actually lead to the failure of the cryptocurrency if nothing is done to improve these speeds.
When the speed of processing a Bitcoin-transaction is compared to Visa transactions currently, Bitcoin is clearly lagging behind. While Bitcoin network only processes approximately 6.5 transactions per second, Visa is able to process 1,700 transactions every second on stocktwits.com.
Since Bitcoin is actually meant for transactions, whereas it should facilitate flawless exchange of goods and services, it will not succeed if it fails to achieve what a currency needs to do. Although there is hope if things are made better, and it would then be easy to adopt the cryptocurrency in our day to day lives. There are possible solutions to reduce the transaction time such as reducing the amount of data being processed in every bitcoin mining block according to seekingalpha.com. There is also the possibility of making these blocks of data bigger, such that more information is processed at a time.
Ted Bauman has had a successful career, having gained extensive experience over his many working years. His rich knowledge has allowed him the privilege of being able to advice people on how to live truly fulfilling lives. He assists many people to be in touch with resourceful materials, that eventually guides them to enjoy free lives. He encourages people to live lives that have no interference from corporate greed and governmental oversight. He is able to give this advice through his position as the editor of the renown The Bauman Letter, Alpha Stock Alert, and Plan B Club.
Ted gained a lot from his studies, which he took seriously. As a young man, he moved to South Africa, where he studied hard to graduate with postgraduate degrees in History and Economics from the University of Cape Town. He went on to work in South Africa for a period of 25 years. He worked as a fund manager for housing projects of low-cost nature. His efforts really impacted the lives of many slum dwellers, especially through the Slum Dwellers Internationals on sovereignsociety.com. Over 14 million people from 35 countries have been the beneficiaries of his efforts. He is really a role model to many.
Learn more about Ted Bauman: https://plus.google.com/103297567383363792240