Bitcoins have become a large interest to the public recently. While not everyone understands their use entrepreneur and editor Ted Bauman wrote and published an interesting article about the cyber currency. The article reaches into the future several years to 2020 and how bitcoin can be used for travel instead of cash or credit cards. That is until getting to a place like an airport parking garage that does not take this form of currency or the transaction with bitcoin takes twenty minutes.
Mr. Bauman continues explaining that if the underlying technology for bitcoins is not updated to meet expectations it will not become a type of currency. Though he says this technology is being worked on to change its current form. But that it is possible to profit from bitcoin, which is a cyber currency. Currently, this is a currency that exists within a network of computers. This has an advantage though since it is private it is both secure and free of manipulation by governments.
In his newsletter The Bauman Letter, he explained a little more about bitcoins including how they were created. When new bitcoins are created it is a process called mining. Bitcoin transactions are processed at the same time so people trying to send or receive bitcoins have to wait until the mining process is completed. This can result in slow transactions with a bitcoin network that is only able to process approximately 6.5 transactions per second. It then results in an average bitcoin transaction taking about ten minutes, but in some cases last year it took over forty-two minutes.
Ted Bauman an expert in finances is the editor of The Bauman Letter, Alpha Stock Alert, Smart Money Alert and Plan B Club. His focus is on finding safe ways to help people protect and grow their wealth. Mr. Bauman joined Hill Publishing in 2013 and specializes in asset protection, low-risk investment strategies, privacy and international migration issues. One other focus Mr. Bauman has is providing sound advice for people who are retired to grow their wealth safely.
Mr. Bauman’s articles published in The Bauman Letter include topics like smarter and safer gains missed, debt is the invisible threat to wealth and an article about his algorithm to beat the market. The articles are short and to the point providing information to readers that can help them understand the market, new technology and how to protect their investments.