Ted Bauman Warns About Bitcoin’s Bad Copies

Meet Ted Bauman

When it comes to interesting backgrounds, Ted Bauman certainly has one. He was born in Washington but emigrated to South Africa where he lived for 25 years. He graduated from a prominent University of Cape Town with degrees in both History and Economics. As a part of his international experience, Bauman has traveled to as many as 75 other countries where he helped millions of people with housing projects.

Nowadays, Bauman works in Atlanta and works as an editor for the Banyan Hill Publishing. His articles present a great deal of informative and engaging short reads that this media outlet has to offer for prospective and current investors. Most of his topics are focused on areas of finance and current trends in the business world, but he also gives tangible advice on matters such as retirement.

As a part of his extensive traveling throughout his life, Bauman has learned how to best preserve a good portfolio that will be profitable. One of the most important tips he gives is to station capital in multiple countries around the world. This will ensure a geographical diversification that reduces risk and minimizes potential losses.

What does Bauman Cryptocurrencies?

One can hardly discuss currency issues with anyone more qualified than an individual who has probably seen 90% of the world’s total currencies. Bauman, however, is a strong opponent of the latest craze in the virtually-based coins such as Bitcoin. One of the main reasons why he believes this industry is more based on enthusiasm than substance is the sheer number of ICOs that have been happening.

An ICO is the initial coin offering that companies organize to raise funds for their cryptocurrency. Since Bitcoin received recognition, there have been as many as 20 ICOs every single month. This means that almost 150 cryptocurrencies get launched every year. Sadly, the group of investors that Bauman calls “desperate” are the ones who will fall for this kind of offer.

The writer also dislikes the obvious lack of regulation when it comes to this industry. Since it is relatively new, Congress has not had a chance to limit the seemingly wide-spread reach of things like Bitcoin, something that Bauman thinks is not the best case scenario for a market nor economy. By putting a lot of capital into these investments, people could easily find themselves left empty-handed when the reality meets the hype.

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