Throughout his career, Ted Bauman has dedicated his life to creating financial solutions for people so that they can live an autonomous life, free of government or corporate intervention. Although Mr. Bauman was born and raised in the United States, he spent the majority of his career in South Africa, where he worked as an executive in the nonprofit sector, helping to connect others with adequate housing solutions. During this time, he wrote extensively on issues regarding urban planning and housing, securing clients that ranged from the World Bank to the United Nations and a number of grant-making agencies throughout Europe. He attended the University of Cape Town, where he garnered sever postgraduate degrees. In 2008, Ted Bauman returned to the United States, beginning work as a director for Habitat For Humanity, before joining Banyan Hill Publishing in 2013. Today he lives in Atlanta, GA with his family, where he works primarily from his home office. Learn more about Ted Bauman at crunchbase.com
Typically, Ted Bauman begins his day in the same fashion – beginning by dropping his daughter off at school, before returning home to initiate his tasks at his basement office. Finding that he works most efficiently in the morning, he normally begins immediately, staying busy until about 5:00 pm each day. He attempts to complete his most difficult tasks first, being that it is the most productive period for him, and when not writing, spends a large portion of time researching, both mainstream and obscure outlets, for information that will be the most beneficial to his audience. Being that connecting with his audience is such an integral part of his job, considering the fact that his information directly influences their financial success and overall security, he has to utilize the full array of his narrative skills to bring mundane topics to life, while also providing real-world examples.
As he is constantly attempting to stay abreast of the latest financial and economic trends around the world, he has recently noticed a trend amongst his readership – they are now questioning many longstanding traditions regarding the public’s relationship with large corporate entities, as well as the government. He believes that many of the issues and contradictions that have come about are the result of the lack of government regulation regarding the free capital movement. While he admits that he has never been a proponent of any type of government regulation, he finds it incredibly exciting that ordinary people are beginning to question traditional practices, while also seeking new and effective solutions.
Seasoned investment guru Mr. Ted Bauman did a comprehensive article breaking down the current limitations of bitcoin’s underlying technology hindering it from achieving its overall goal of becoming the most popular form of conducting transactions considering how secure it is and the fact that it is a decentralized form of currency. According to Ted Bauman, the function of a currency is to process transactions not only securely but also in a timely fashion. This is yet to be achieved by bitcoin as it currently compares very poorly when put side by side with the leading transaction processing platforms such as Visa which according to publicly available data has the capability to process more than 24,000 transactions each second as opposed to bitcoin which can currently process 6.5 transactions per second. In addition, there are reports of users waiting for 10 minutes on average to process a single transaction on bitcoin, with the longest waiting time recorded to be over 40 minutes. The unfortunate fact is that the situation can only worsen as more people join the Bitcoin platform.
That being said, there is a huge balancing task that will definitely go into trying to improve bitcoin’s underlying technological infrastructure. This is because bitcoin is an encrypted digital currency which exists within a network of computers hence its decentralized nature. This means that whenever a transaction occurs, all nodes connected to the bitcoin ecosystem have to update in real-time making it secure and private, free from manipulation from governments and the financial agencies like the central banks. Research has shown that there have been conscious and deliberate efforts aimed at trying to reduce the painstakingly long transaction processing times. In order to reduce the processing time, the most probable solutions involve reducing the amount of data processed in each and every bitcoin mining block. Conversely, the size of bitcoin’s mining blocks can be increased so that more data can be up for processing at every go. The tradeoff is that all of these approaches involve moving some data out of the blockchain, as a result, reducing the security of the Bitcoin platform.
A note about Ted Bauman
From 2013 Ted Bauman has been working with Banyan Hill Publishing as the Editorial Director. He is also the editor of the Alpha Stock Alert, Plan B Club and the Bauman Letter in which he provides invaluable pieces of advice and opinions on a number of subjects including privacy and low-risk investment.