What's your biggest problem with Bitcoin

[coinplus]

I have a problem with Bitcoin that would be nice to have fixed and could also increase its adoption.  My biggest problem with Bitcoin is that I cannot reverse a transaction if I did not receive the goods I purchased.  I believe that there are many who feel the same so don't adopt its use because of that problem.  

A possible solution could be some sort of key that's transmitted back that would release the transaction once it was complete.  For example: I send some amount of bitcoin to an address online for some t-shirts, once the t-shirts arrive, they arrive with a key that I use to release the transaction....the other party would also have the key to release the funds so that both parties have an equality in the transaction....some idea like that would make Bitcoin more attractive to skeptical adopters.

But many people find non reversible for good. In a decentralized system we can not revert a payment. Once sent is sent for ever. So escrow will do the reversing job if you prefer to go with.
When we are not able to find an escrow for our need we must go with trusted sellers or buyers. This will happen with even fiat also. So not a new problem because of bitcoin.

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[Andrelvogue]

For me only the mining.

[CoinThug]

Well I don't have a problem with it, just need to be careful what your a doing with it.

[Blue_Tiger73]

The biggest problem that I have with bitcoin is the transaction times. Most of the time I have to wait like half an hour for my transaction to go through. There was one occasion where I had to wait 3 hours. Also a lot of websites require more than 1 confirmation which is soo annoying as it normally takes over 1 hour.

Another thing that also worries me about bitcoin is the security. I've seen some occasions where people's accounts have got hacked and their money stolen. Online wallets are convenient but dangerous for your balance.

[harizen]

Biggest problem is hard to speculate especially now lol.

Every hour Im watching for the price chart to think of my next move. Damn the whole time of the day I always looked at the chart that I normallly didn't do everyday to watch the latest trend. I don't want to missed the action today in bitcoin price.

[elvizzzzzzz]

I have bitcoind on my laptop.

Every six months or so, I run bitcoind to update the database.

It takes over two weeks to update at present, slowly taking longer to complete.

So, 2-3 weeks to complete a transaction? 

[ranochigo]

I have bitcoind on my laptop.

Every six months or so, I run bitcoind to update the database.

It takes over two weeks to update at present, slowly taking longer to complete.

So, 2-3 weeks to complete a transaction? 

Why are you still using Bitcoin Core? Use SPV clients like multibit or electrum. They can do the same thing without so much diskspace. Not much security is compromised either.

IMO, the problem about Bitcoin is the adoption rate and the volatility of the price. The volatility of the price does influence the adoption rate though. With less places accepting Bitcoin, the adoption rate would increase slowly. The volatility of the price would make people think twice before investing in Bitcoin. This is a huge problem that can't be solved in the short term.

[cjmoles]

I have a problem with Bitcoin that would be nice to have fixed and could also increase its adoption.  My biggest problem with Bitcoin is that I cannot reverse a transaction if I did not receive the goods I purchased.  I believe that there are many who feel the same so don't adopt its use because of that problem.  

A possible solution could be some sort of key that's transmitted back that would release the transaction once it was complete.  For example: I send some amount of bitcoin to an address online for some t-shirts, once the t-shirts arrive, they arrive with a key that I use to release the transaction....the other party would also have the key to release the funds so that both parties have an equality in the transaction....some idea like that would make Bitcoin more attractive to skeptical adopters.

But many people find non reversible for good. In a decentralized system we can not revert a payment. Once sent is sent for ever. So escrow will do the reversing job if you prefer to go with.
When we are not able to find an escrow for our need we must go with trusted sellers or buyers. This will happen with even fiat also. So not a new problem because of bitcoin.

yes....escrow is too much of a burden and that's why some sort of smart contract system would make the technology more attractive and less risky.

[davinchi]

I have a problem with Bitcoin that would be nice to have fixed and could also increase its adoption.  My biggest problem with Bitcoin is that I cannot reverse a transaction if I did not receive the goods I purchased.  I believe that there are many who feel the same so don't adopt its use because of that problem.  

A possible solution could be some sort of key that's transmitted back that would release the transaction once it was complete.  For example: I send some amount of bitcoin to an address online for some t-shirts, once the t-shirts arrive, they arrive with a key that I use to release the transaction....the other party would also have the key to release the funds so that both parties have an equality in the transaction....some idea like that would make Bitcoin more attractive to skeptical adopters.

But many people find non reversible for good. In a decentralized system we can not revert a payment. Once sent is sent for ever. So escrow will do the reversing job if you prefer to go with.
When we are not able to find an escrow for our need we must go with trusted sellers or buyers. This will happen with even fiat also. So not a new problem because of bitcoin.

yes....escrow is too much of a burden and that's why some sort of smart contract system would make the technology more attractive and less risky.

Some people may find Escrow so difficult because of the delay it includes. People always look for more instant transactions than getting delayed for than at that event including the security of their money.

[ranochigo]

get them is hard and slow and not cheap in most places.


sadly there is nothing that the devs can do about it

Why get them is hard ? I think with your rank in bitcointalk you can easily to get them with signature campaign.

Signature campaigns, unfortunately have small payouts that are not viable to earn in the long term. Even with lots of postings. The regulations has made it hard for people to buy Bitcoins online with various verification one have to go through.

I have a problem with Bitcoin that would be nice to have fixed and could also increase its adoption.  My biggest problem with Bitcoin is that I cannot reverse a transaction if I did not receive the goods I purchased.  I believe that there are many who feel the same so don't adopt its use because of that problem.  

A possible solution could be some sort of key that's transmitted back that would release the transaction once it was complete.  For example: I send some amount of bitcoin to an address online for some t-shirts, once the t-shirts arrive, they arrive with a key that I use to release the transaction....the other party would also have the key to release the funds so that both parties have an equality in the transaction....some idea like that would make Bitcoin more attractive to skeptical adopters.

But many people find non reversible for good. In a decentralized system we can not revert a payment. Once sent is sent for ever. So escrow will do the reversing job if you prefer to go with.
When we are not able to find an escrow for our need we must go with trusted sellers or buyers. This will happen with even fiat also. So not a new problem because of bitcoin.

yes....escrow is too much of a burden and that's why some sort of smart contract system would make the technology more attractive and less risky.

2 of 3 Multisig address? Deposit the coins into the multisig address and give one key to escrow, seller and one for yourself. If there isn't any problems, the seller and you can easily just release the coins.

[Laosai]

Bitcoin really helped me a lot financially and educationally so I dont have any problems with it except on its fluctuating price >.< That was my biggest and only problem with bitcoin so far.

[lixer]

Bitcoin really helped me a lot financially and educationally so I dont have any problems with it except on its fluctuating price >.< That was my biggest and only problem with bitcoin so far.

We cannot blame bitcoin for IT'S fluctuating prices. I definitely agree with the that bitcoin has helped many people for their education and for a living. So it's definitely clear that we have no other difficulty or big problem for using it as far as I know.

[makcik]

The biggest problem of bitcoin for me is that there's no official bank or community to look after the problems caused by it. Transaction issues or wallet problems are sometimes ignored by the providers and due to lack of any official forum (there are many unofficial forums), people sometimes get cheated. This is a negative view of bitcoins and needs to be tackled correctly

[delliaerd]

My serious problem with bitcoin is none other than a way to get it. It very difficult for me although just 1 BTC

[dothebeats]

The biggest problem of bitcoin for me is that there's no official bank or community to look after the problems caused by it. Transaction issues or wallet problems are sometimes ignored by the providers and due to lack of any official forum (there are many unofficial forums), people sometimes get cheated. This is a negative view of bitcoins and needs to be tackled correctly

Having the tag 'official' on bitcoin would give away its decentralized nature. Also, developers do not ignore serious issues regarding wallets/the protocol. Because they have so many things to do, some queries of the users they can't check because of time issues. You can still go and ask questions to forums btw, and you still can get a decent answer.

[addy boy]

Bitcoin is not so well-defined as a
currency in comparison to a dollar or yuan, and thus its uniqueness is much
less clear. The currency based on a
mysterious algorithm whose originator is
anonymous. No one really knows whether the algorithm can be trusted to generate Bitcoins as promised, or who would be accountable for errors or frauds; there is no definitive monetary
authority.

Were any problems to occur, a new
electronic currency, perhaps one
vouchsafed in a more transparent way,
might arise.

[Masta Splint]

I'd say the biggest problem for me is how long it takes go get bitcoins. Not just that it takes forever for then to accumulate in your account but also that not all the sites send them to your wallet right away. Most of the time you have to wait days to see them appear.

[Bud Spencer]

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

[ranochigo]

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

Why would transaction fees be a problem? Transactions fees are usually very small, maximum I have paid was 0.0001BTC/KB. Credit cards and banks charge more than that. Transaction times is a problem as some online payment gateways required at least 1 confirmation.

[Amph]

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

Why would transaction fees be a problem? Transactions fees are usually very small, maximum I have paid was 0.0001BTC/KB. Credit cards and banks charge more than that. Transaction times is a problem as some online payment gateways required at least 1 confirmation.

maybe he was talking about the stress test event, there must be said also, that in the future, if bitcoin grow big, fees would not be negligeable anymore, they could be a problem

with bitcoin at 10k for example you have to pay $1 in fee already