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Author Topic: What's your biggest problem with Bitcoin  (Read 134994 times)
dvmd catona
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April 16, 2018, 01:40:17 PM
 #2421

Bitcoin as a technology and currency is fine (other than volatility for the latter). Any problems I've ever had were relate to the trading of this technology/currency which is a human problem more than anything.
naldal kaka25
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April 16, 2018, 01:41:03 PM
 #2422

The biggest problem is confirmation time, which sucks at stress test
Satoshi Nakamoto was so talented that he even solved the
problem of double spending of digital currency in his system.
webdevmastery
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April 16, 2018, 01:41:30 PM
 #2423

Software development team here.
We would like to hear from the community what are the most annoying\frustrating stuff you have with Bitcoin and would love to get a solution for ?
Feel free to talk about any problem, even if it seems unsolvable or too abstract (e.g. Bitcoin is not safe enough for the average user)
Edit:
After reading all the replies, I feel confident summarizing that the #1 problem of Bitcoin is probably lack of adoption.
And the main reasons of lack of adoption are probably ease of use and insufficient security.
We are a team of entrepreneurs and software developers that are going to spend the next following months-year on developing a new product.
One of the most appealing markets for us is the Bitcoin market.
We will try to learn us much as possible from your replies and try to tackle the problems head on.

I cannot see any problem from cryptocurrency because the market is growing and the prices in the market today is already going back to normal so those who invest a huge amount in the past few weeks will surely earn a huge amount of profit.
luisdvmd25
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April 16, 2018, 01:41:53 PM
 #2424

Never had any until the blockchain started work slowly. Sometimes it takes forever to get enough confirmations. And this is the main problem for now.
Bitcoin_Delivery
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April 16, 2018, 01:43:20 PM
 #2425

Now delivery sometime when not in accordance with the fee network will make a long delay. this is very disturbing if the payment we have to finish quickly. this is a bitcoin problem that until now I feel quite big
Bibi shop
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April 16, 2018, 01:46:53 PM
 #2426

The problem with me is that I need to wait long for the confirmations, as it is very time consuming and also irritating sometimes, as it will not be that helpful at the time of emergencies where you need to transfer money to someone else.
Abiky
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April 16, 2018, 10:15:32 PM
 #2427

Right now higher transaction fees. However, many believe that with the rise of lightning network and abstraction of core layer of bitcoin, this could change the fundamentals. I am not technical expert to explain this but have been following the news for a while.

Exactly. The high fees in one of the biggest problems that Bitcoin has been facing today. While they have been reduced lately, they're still higher than what they were since Bitcoin's inception. With the Lightning Network, we could finally experience near zero fees, making micropayments practical once again. This would further boost Bitcoin's adoption as a currency for daily payments in the mainstream world, having a positive effect in its price and demand over the long term.

On the other hand, Bitcoin Cash is doing something similar by increasing its block size to help reduce the fees on the network and increase transaction capacity. It's going to hark fork on May, with many interesting features such as an increase in blocks of up to 32MB in size. Therefore, solutions in both cryptocurrencies are being rolled in, to make micropayments a reality and boost the adoption of cryptocurrencies in general. The future looks very exciting and if Bitcoin manages to solve one of its biggest issues, then it would take over the world.

Despite this, Bitcoin has other series of issues or problems which needs to address soon. One of these issues is the lack of privacy within every transaction made on the network. Solutions like Schnorr Signatures, and Confidential Transactions aim to address this issue, making Bitcoin even better than what it is right now. In the end, Bitcoin would have less problems in the future than what it has right now. Just my opinion Smiley

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Pozitiw[4]ik
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April 16, 2018, 10:43:55 PM
 #2428

I don't have problems with Bitcoin, however, I think that the modus operandi could be less complicated for people with limited knowledge of the digital world. This is the main reason for most of people not use bitcoins.
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