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
Is Bitcoin in its death throes? Ted Bauman seems to think so, and with their prestigious reputation, taking note of their thoughts would be wise. As Bitcoin continues its wildly exorbitant growth, a dangerous flaw has been uncovered in the blockchain which may soon stifle its growth, and possibly even end in the death of the cryptocurrency giant. With the growth of the bitcoin network, transaction times continue to rise, and the blockchain’s lack of scalability has become jarringly apparent. Compared to standard credit card transactions, bitcoin is practically crawling. Learn more at Seeking Alpha about Ted Bauman
Miners Scramble to Solve Bitcoin’s Flaws
So what’s the solution to this looming catastrophe? Ted Bauman believes that it’s reducing overhead and increasing efficiency. Many bitcoin miners thought the same thing, attempting to implement technology to reduce the amount of data per block. However, this project wasn’t meant to be, and it was brought down by security concerns before ever making it off of the assembly line.
There has been another attempt at solving the problem though. Enter Bitcoin Cash, a hard fork of bitcoin with increased block size, and improved transaction times. The branch aims to solve the issue by simple brute force, which, while it doesn’t solve the underlying issue, gives miners more time to find a permanent solution. Bauman remains hopeful yet cautious in regards to Bitcoin Cash, as well as cryptocurrency as a whole, with wildly fluctuating values and the possibility of a bubble.
Why Bitcoin Cash is Necessary
Bitcoin’s primary issue is that it simply isn’t scalable. Only able to handle six or seven transactions per second, compared to the thousands of traditional credit card services, Bitcoin slows to a crawl when large transaction volumes are present. At this point, transactions can take as many as 40 minutes simply to process, with that figure only increasing as more investors move in. It doesn’t take a financial genius to see that it’s simply not sustainable. Read more about Ted Bauman at talkmarkets.com
Few can claim to have the same level of financial expertise exhibited by Ted Bauman. With many years of experience in investment, consulting, management, and publishing, he is one of the most prestigious figures in the financial world. He has offered his own unique solutions to a number of looming economic problems, from debt to crypto.
Prior to his involvement in cryptocurrency, Bauman had taken on a major role in international business and finance. Serving clients such as the World Bank and the United Nations, Bauman is certainly worth his salt, and when he has something to say about finances, it may be best to listen.
Read more on Banyanhill:https://banyanhill.com/expert/ted-bauman/