Somebody please save Bitcoin! (I have an idea..)

[nOraKat]

I am not a programmer but I had an idea.

The biggest thing holding Bitcoin back from being implemented as a currency are transaction times. Who in the world would use Bitcoin to make purchases if they have to wait to purchase something?

Is there a way to implement a standardized secondary system that can work alongside Bitcoin to allow Bitcoin purchases to happen instantaneously?

Perhaps a certain amount of money (say less than $2000) can be transferred into another system to be used instantaneously similar to transferring Bitcoin into a credit card to be used (nearly) instantaneously, only this system will be standardized to work alongside Bitcoin.


(Reducing power consumption for mining would be great also.)

[VirusTeam]

a very great idea, it would be great, but I think people will not want to be beaten by bitcoins, especially if it is very expensive in price, it will be easier for them to always calculate dollars or another currency depending on the country))

[Slark]

We have a system which will make bitcoin transaction nearly instantaneous it is called Lightning Network.
What we need to be aware here is fact that miners won't be happy with upgrading bitcoin with off-chain system.
It would lower the income from transaction fees etc. it will also made Bitcoin even more centralized.

[Crypdon]

Nice idea but it will attract too many scammers if there aren't enough confirmations for the transactions. We need something that is solid and scam proof. If a large bitcoin company is willing to take on the risk with credit then that would help, but it won't be a standard for everyone to follow.

[mk4]

You might want to take a look at this: Lightning Network: Scalable, Instant Bitcoin/Blockchain Transactions

[lelangsabun]

great thing but you may be need some research that before you express your idea that has already exist or not or you just can maybe help devalopment their system again

[bayupermana]

I'm really glad that you bring to us a brilliant ideal but it's not perfect at all and i think you gonna need some more times to fix it by getting more opinions from us.
Saving BTC really is a duty of Bitcoin-ers and seems like too many people forgot it at the first moment they came to Bitcoin.

[stompix]

Perhaps a certain amount of money (say less than $2000) can be transferred into another system to be used instantaneously similar to transferring Bitcoin into a credit card to be used (nearly) instantaneously, only this system will be standardized to work alongside Bitcoin.

And with this destroying every hope of decentralization there is still left.
You're whole idea start from replacing BTC with something else for transactions.
Why would we still need BTC after this?

We have a system which will make bitcoin transaction nearly instantaneous it is called Lightning Network.
What we need to be aware here is fact that miners won't be happy with upgrading bitcoin with off-chain system.
It would lower the income from transaction fees etc. it will also made Bitcoin even more centralized.

How is this going to make BTC more centralized?
Anyone can open a LN node, but not anyone can mine a block since we're also bringing mining into question.
As for miners....after seeing during the tx  madness a mempool of 200k transactions and miners mining half empty blocks, well, these miners we have today can go ......mine!!!!

I'm really glad that you bring to us a brilliant ideal but it's not perfect at all and i think you gonna need some more times to fix it by getting more opinions from us.

I really don't see what is brilliant in this ?!?

[aardvark15]

I am not a programmer but I had an idea.

The biggest thing holding Bitcoin back from being implemented as a currency are transaction times. Who in the world would use Bitcoin to make purchases if they have to wait to purchase something?

Is there a way to implement a standardized secondary system that can work alongside Bitcoin to allow Bitcoin purchases to happen instantaneously?

Perhaps a certain amount of money (say less than $2000) can be transferred into another system to be used instantaneously similar to transferring Bitcoin into a credit card to be used (nearly) instantaneously, only this system will be standardized to work alongside Bitcoin.


(Reducing power consumption for mining would be great also.)

It’s not just the transaction times but also the fees which vary but at times can be high. The lightning network is supposed to help with transaction speeds.

I don’t necessarily think that Bitcoin will fail if these issues can’t be improved because Bitcoin may have found a niche as a store of value.

Another option for transaction times and fees is to use a faster and cheaper altcoin for purchases. I think multiple coins can be used for various applications.

[jack8989]

I am not a programmer but I had an idea.

The biggest thing holding Bitcoin back from being implemented as a currency are transaction times. Who in the world would use Bitcoin to make purchases if they have to wait to purchase something?

Is there a way to implement a standardized secondary system that can work alongside Bitcoin to allow Bitcoin purchases to happen instantaneously?

Perhaps a certain amount of money (say less than $2000) can be transferred into another system to be used instantaneously similar to transferring Bitcoin into a credit card to be used (nearly) instantaneously, only this system will be standardized to work alongside Bitcoin.


(Reducing power consumption for mining would be great also.)

It’s not just the transaction times but also the fees which vary but at times can be high. The lightning network is supposed to help with transaction speeds.

I don’t necessarily think that Bitcoin will fail if these issues can’t be improved because Bitcoin may have found a niche as a store of value.

Another option for transaction times and fees is to use a faster and cheaper altcoin for purchases. I think multiple coins can be used for various applications.

The fee is vary just because there is a same vary on the price for each Bitcoin.
So it means if the valuation of Bitcoin is going up so it's the same with fees transaction and i think it's a good way at all.
People are avoiding the fees transaction but they didn't know it will create a fair and better appreciate for the Bitcoin transfer system.