Ted Bauman Suggests Ways to Speed Up Bitcoin
Visa is able to process up to 20,000 transactions a second. Even at peak hours, a retailer knows in a matter of seconds if a Visa charge has been accepted. In the second that Visa is handling tens-of-thousands of transactions Bitcoin handles six or seven. During peak usage times an answer from Bitcoin can take 40 minutes. Financial Expert Ted Bauman warns that completing transactions at a glacial pace could be Bitcoin’s undoing.
During the quarter century that Ted lived in South Africa, he earned a degree in Economics and History from the University of Cape Town. He would further his education at Georgia State University and The State University of New York receiving an MBA in Finance from the former and a BS in Business Administration from the latter.
Ted Bauman spent the first 25 years of his working life employed by nonprofit organizations. Fourteen million people benefited from his efforts as a fund manager for Slum Dwellers International. A job with Habitat for Humanity as Director of International Programs brought Ted back to the States.
In Bitcoin jargon, a record of transactions is known as a mining block. These blocks are linked together to form a blockchain. Ted Bauman believes that speeding up Bitcoin’s transaction completion time is a matter of fewer data in each mining block or making blocks larger.
Bitcoin enthusiasts believe the cryptocurrency is the future of money. Ted Bauman is cautiously optimistic about Bitcoin’s future citing fluctuations in its value. This summer the value of a unit of Bitcoin dropped $3,500 in one month. Ted’s authority to speak on the subject of cryptocurrency comes from his track record of successful investing and experience as a financial consultant and fund manager.
Banyan Hill Publishing produces newsletters devoted to the subject of investing. In 2013 Ted Bauman joined Banyan Hill. He edits the “Bauman Letter” as part of a commitment to help the small independent investor grow and keep more of their wealth. The combined readership for the three newsletters Ted edits, the other two are “Plan B Club” and “Alpha Stock Alert”, is 100,000.
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