The business world today is excited about Bitcoin. The fact that it is independent from banks and governments gives the promise to escape from unwanted attention from the bank and the government. Investment in crypto assets also gives a high rate of returns compared to the traditional methods of investments. Despite the promising future it has for the economy, bit coin is taking rather long to catch on in the market. Financial experts like Ted Bauman, believe that this is because of bitcoin’s lack of scalability.
Look at it this way; you go to this fancy restaurant for dinner, you realise you left your purse home and your credit cards are not being accepted for some reason. Luckily, you have bitcoins you can use. To pay for your dinner, you may have to wait forty minutes or an hour for the transaction to be complete. Imagine the discomfort! The time it takes for a bitcoin transaction to be completed is too long. For this reason, bitcoin is losing against Visas and MasterCards. When you have a MasterCard, the transaction takes mere minutes. This has made it difficult for people to move to crypto currency from the traditional currency form. Read more at ezinearticles.com about Ted Bauman
Ted Bauman also gives a suggestion of ways in which bitcoin transactions can be made faster. He says the makers of bitcoin can either increase the size of the data blocks they use or reduced the amount of data needed to make each transaction. This will allow people to use bitcoins in their everyday transactions other than just using them as a way to store up investments.
Ted Bauman is an expert in finance. He is one of the few people who have enjoyed success investing in crypto assets. He has come to learn the ins and outs of the market and has gathered knowledge and experience that make him an authority in crypto currency. Considering his success in the traditional trade and in crypto currency, Ted Bauman set out to share his knowledge and experience in the trade with other people. He now is an editorial director at Bayan Hill Publishing. Here, he sheds light on matters revolving around finance and investments in crypto assets.