What Is the Meaning Behind Shervin Pishevar’s Twitter Tempest?

One detail that’s grabbed the attention of headlines is the recent outburst by Shervin Pishevar concerning a rather gloomy outlook on the US economy in the coming years, and it seems to be brought on in part by a Bitcoin crash that hasn’t yet finished while a ruined infrastructural support system lags far behind that of other countries. It all seems so odd: The venture capitalist, who formerly headed Sherpa Capital, had disappeared since his resignation from the company back in December. What brought him back in such a furious storm?

For those not yet in the know, Shervin Pishevar was originally forced to exit Sherpa Capital due to overwhelming attention toward allegations of sexual misconduct, and he stated that it was necessary to cut himself off from the company in order to prevent the drama from interfering with its operation. Interestingly enough, his return to media headlines now coincides with a recent lawsuit that was placed on a company known as Definers Public Affairs — a rather official-sounding name if one hadn’t known differently — for allegedly slandering him.

In his 21-hour onslaught of more than 40 tweets outlining a dark future for US enterprisers and consumers alike in the coming years, Shervin Pishevar notes the following:

  • The infrastructural support system in the US is in bad shape. It’s difficult to acquire funding for projects anymore, and those that are approved take months or years to finish what the likes of China can knock out in mere hours.
  • The big fish in business, namely the five most influential companies (Apple, Amazon, Alphabet [Google], Facebook and Microsoft), will continue to trample start-ups in the country, stifling innovation and discouraging more companies from starting up in the future.
  • The stock market is about to see a 6,000-point drop thanks to these conditions and more, one of them being the much-emphasized continuation of the Bitcoin crash. Shervin Pishevar points out that the cryptocurrency is expected to drop by as much as another $5,000 before coming to a rest and then slowly ascending once more.

https://genius.com/Shervin-pishevar-platform-lyrics

Ted Bauman Provides An Insight into Major Problem Facing Bitcoin

Background

Ted Bauman is an editor at Banyan Hill Publishing. Bauman also acts as an editor for Bauman Letter where he provides advice on investment strategies, asset protection among other current issues. Ted was born in Washington, D.C. He grew up in Maryland. Ted’s family migrated to South Africa. He joined the University of Cape Town where he graduated with degrees in Economics and History. He worked in the non-profit sector in different capacities for 25 years. He was involved in the fund management of low-cost house projects before joining Banyan Hill in the year 2013.

Bitcoins

Ted recently shared his insights on the potential of bitcoin in growing economy in the Bauman Letter issue of December 2017. As a cryptocurrency, bitcoin only exist in the decentralized network. It implies bitcoin is private, transparent, and free. He explained that miners create new bitcoins through mining which is an intensive process. The network continuously processes bitcoin transactions. However, anyone intending to send bitcoins or receive has to wait until the completion of the mining process to transact.

Bauman argues that the process is quite slow when you compare to debit or credit processing time. For instance, Visa can complete 150 million transactions in a day or 24,000 transactions per second. On the hand, bitcoin network process approximately 6.5 operations every second. Additionally, on average a bitcoin transaction requires around 10 minutes to complete. Others take even more extended periods. Ted Bauman outlines that as bitcoin use grows, waiting time for processing a deal will get longer.

Ted argues that for bitcoin to succeed as a currency, the long processing time needs a solution. Bitcoin should provide a platform for people to transact business efficiently. Bitcoin networks need to solve the problem to grow exponentially and eliminate speculations of success.

Ted Bauman offers two solutions to bitcoin long processing time. He recommends reducing the data processed in mining blocks or enlarge data blocks to enhance processing of information at the same time. To speed up transactions, bitcoin miners hope to adopt technology that can reduce the size of blocks. However, Ted outlines that eliminating some data from blocks lowers the security bitcoin.

The emergence of bitcoin cash aims to enhance the scalability of bitcoin. Bitcoin Cash involved the creation of new transactions on the system using bigger block size. The more significant block size hopes to accelerate confirmation of trades in bitcoin. Bauman adds that bitcoin remains to hold potential growth in future. However, due to the volatility of prices and swings in markets, he is cautious about the market.

Bauman Letter

Ted is an editor for Bauman Letter. It focuses on investment strategies. Additionally, the monthly publication also provides advice on wealth, asset protection, and privacy. Ted also writes on stock trading to offer reader on developments in the stock market and provide useful information in profitable stocks.

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