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Ted Bauman Says Bitcoin Inability to Quickly Process Large Transactions will be the Cause of the Currency Downfall

Bitcoin has been praised by many as the currency of the future. It is considered as the safest mode of holding on to money. It is safe as it is secure from interference from government agencies. However, according to Bauman, Bitcoin successes may be short-lived due to its inability to quickly and efficiently process large volumes of transaction. The problem, according to Bauman, will hinder the currency growth as well as full acceptance.

Ted Bauman, in his newsletter the Bauman Letter, tells readers to picture a time in the future when Bitcoin will become the widely used form of currency for most of the transactions. Bauman says even though Bitcoin becomes widely accepted, there is still the scalability issue that the currency needs first to address for them to succeed. Read more about Ted Bauman at talkmarkets.com


Ted Bauman to put things into perspective and make it easy for his readers to digest his recommendations uses real-life examples. In this case, Bauman gave the example of a person who wants to exit the parking lot and needs to make payment. The person Bauman says has lost his wallet, and the only available method for him to transact is by using what is on his disposal at the moment, and that is Bitcoin. Bauman assumes that the machine accepts cryptocurrency and the person opts to pay for the parking using Bitcoin. According to Bauman, the transaction on a good day can take up to one or two minutes and on a bad day 20 minutes or even hours. The slow speed of processing transactions that are usually experienced with Bitcoin will be the cause of its downfall says, Bauman.

Ted Bauman to explain his points goes to the extent of comparing Bitcoin with other modes of payments such as credit cards. A credit card such as Visa can process more than 20,000 transactions per second. Credit card transactions are instant. On the other hand, Bitcoin can only handle about six to seven transactions per second. The difference is so enormous, and this explains why there are always delays when transacting with Bitcoins. Bitcoins miners fortunately according to Ted Bauman are working on the case, but Bauman largely remains skeptical about the issue.

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Ted Bauman Doesn’t Believe Amazon Is Too Big To Fail

A lot of people believe that Amazon is a monopoly, or at least well on their way to becoming one, but Ted Bauman does not believe that this is true. While they are certainly leaders when it comes to e-commerce, it’s important to remember that they still do not produce as much revenue as companies such as Kroger and WalMart that are still going strong among customers who prefer to be able to purchase things at a brick and mortar location. Ted Bauman also states that while they are certainly a big name in online retail, competitors such as WalMart, eBay, Apple, and more still make up more than half of the business that is done online. In addition, even though the company has significant sales online, there isn’t much evidence that this has impacted most conventional brick and mortar retailers.

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It’s because of this and other factors that the financial writer for Banyan Hill Publishing, Ted Bauman, does not believe that the e-commerce giant qualifies as a monopoly. In fact, while the company is certainly going strong, he sees them as similar to Sears when their catalog was one of the most popular ways to shop for people in the United States. People want convenience and both Amazon and Sears were able to provide this, but Ted Bauman knows that sometimes companies cannot keep up with the changing times. In the case of Sears, this was exactly what happened and the company has been unable to meet the demands of modern customers in recent years despite many efforts.

While a lot of companies aren’t fond of Amazon ras rivals, most don’t believe that their practices go against the spirit of competition. Ted Bauman believes that this is important when deciding if the company is a monopoly or not. While Amazon may have negatively impacted stores that sell books and other similar items, people are still choosing more powerful retailers when it comes to medicine, groceries, hardware, and more. While the quick delivery times of Amazon are certainly impressive, they don’t compare to the convenience of being able to go to a store to purchase items when and where you need them.


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