The highly-esteemed investing consultant and financial expert, Ted Bauman, believes that bitcoin is reaching its breaking point. He notes that as the cryptocurrency giant continues to grow, so do its transaction-times. With the blockchain’s inability to properly process large numbers of transactions efficiently, continually rising transaction delays could spell out the end for the massive bitcoin network. When compared to the modern-day capabilities of credit card companies, Bitcoin can’t compare. In fact, as Bitcoin grows, it’s only getting slower.

Bitcoin Slows To A Crawl

Major credit card companies such as Visa are able to easily process multiple thousands of transactions per second. This leads to the vast majority of credit card transactions seeming almost instant. Bitcoin, on the other hand, with its unique organizational structure, can handle anywhere between six and seven transactions per second. With an end user’s transactions often taking as many as 40 minutes to process, it can be an incredibly slow process. This wait is only getting longer as more people invest in the Bitcoin craze, and as unsustainable growth continues to slow transaction speed to a crawl. Visit Ted Bauman at medium.com to know more

Bitcoin Cash; A Possible Solution?

Is there any solution? Bauman seems to think so, as did bitcoin miners, who had attempted to integrate specialized technology in order to vastly reduce the amount of data in each block. Unfortunately, due to security concerns regarding the new system, this project was canned before it ever saw the light of day.

A second attempt at improving the blockchain was Bitcoin Cash, emerging after a number of miners initiated a hard fork of bitcoin. The fork separated this branch from bitcoin, giving the new system vastly improved block size. With improved transaction times, Bitcoin Cash shows a lot of promise. However, Ted Bauman remains cautious of this new branch, which, rather than solving the core problem, simply prolongs the decline of the blockchain.

Ted Bauman

In the world of finance, few are as accomplished or experienced as Ted Bauman. With significant experience as an investor, financial consultant, fund manager, and publisher, he has the qualifications and the knowledge to offer novel solutions to the largest economic problems. Before he was involved in business, Bauman had become a highly respected authority in international business as well as finance.

With prestigious clients such as the United Nations, the World Bank, and South Africa’s government, Bauman is no greenhorn. He isn’t simply an accomplished investor, he is one of the most highly regarded financial moguls currently living, and for good reason.

Learn more:https://www.crunchbase.com/person/ted-bauman