What's your biggest problem with Bitcoin

[zeraTunerse]

The current availability of where I can spend with BTC is my biggest issue. I know time will tell but that is my biggest issue right now.
On another note, long confirmation times is another issue that could be dealt with.

The biggest problem with me is that in my country no one is aware about the bitcoins and that makes me really worried that where should i spend my bitcoins. No doubt I use it for online purchases but I really want that the merchants in my country should start accepting it as a mode of payment

[induktor]

My biggest problem, let's see:

#1 - Asics, centralized processing by a very few, Litecoin promised to avoid that and didn't deliver, vertcoin so far has done it!.

#2 - Bitcoin core, taking forever to load, taking forever to check hashes when the computer crashes, taking forever to update.

(of course if you use a big ass machine with 100MB+ connection won't be an issue, but most people run bitcoin core from their notebooks with 1MB connection, sometimes takes like 7 - 10 minutes to load, and several 10's of minutes to hours to update!.

Usually, when I go to an exchange to buy or sell BTC, I update the notebook's core wallet before I left, then I load it on the exchange office (and even when only 30 minutes has passed, it takes me like 10 - 15 minutes to update!, this is ridiculous!)

On top of that, I have to wait sometimes 10 minutes or more to wait for the at least 2 confirmations, before I left, even when I always pay a high fee to make sure it would be pretty quick, the last time i sell btc i pay like 0.070 BTC fee, which i thing is pretty significant, and still it took like 11 minutes for the first confirmation.

Nowadays I have the wallet on my primary server which is a dual xeon with sas drives so I can load the wallet pretty quickly and access it remotely from my VPN when I am at the exchange, but again, it is ridiculous i have to use a 20000 USD server to run a wallet (of course this sever does a lot of other things, but you get the idea!)

I don't mind blockchain size, as 42GB is nothing compared to actual hard drive sizes, but:
- time to load wallet
- time to recheck hashes, and...
- time to update the wallet

are the most significant problems for me.

[oldmaid]

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.

Too slow.

[MUFC]

How could bitcoin possibly handle the type of traffic the modern day world demands or even a small fraction of it?

Why could it not? I think once the block size debacle has been sorted there's nothing I can envision holding it back other than just the mainstream getting involved (which will be a slow process any way).

[camelson]

I have NO such a Big Problem with BTC, But Little Problem, Yeah I have, I cant withdraw my BTC directly to fiat Money, I have to go to exchanges or localbitcoin for that. Have Master card of bit-x but its fees are too high. Other wise BTC, doing very well in my daily life,

[wearepoor]

I have NO such a Big Problem with BTC, But Little Problem, Yeah I have, I cant withdraw my BTC directly to fiat Money, I have to go to exchanges or localbitcoin for that. Have Master card of bit-x but its fees are too high. Other wise BTC, doing very well in my daily life,

But there is option of transfering BTC directly to your bank account I guess so you can withdraw in your local currency and the fees are not too high. So that would be the best option for you as I prefer directly transfering BTC do my Bank account.

[Punggawa]

i dont have big problem with bicoin, but for know just too late confirmed transaction
but it's not big problem

[camelson]

I have NO such a Big Problem with BTC, But Little Problem, Yeah I have, I cant withdraw my BTC directly to fiat Money, I have to go to exchanges or localbitcoin for that. Have Master card of bit-x but its fees are too high. Other wise BTC, doing very well in my daily life,

But there is option of transfering BTC directly to your bank account I guess so you can withdraw in your local currency and the fees are not too high. So that would be the best option for you as I prefer directly transfering BTC do my Bank account.

I dont think so, that sites directly send btc to my country bank, with very low fees, i never countered a sindle site.  I need to first exchange btc

[scott btc]

The biggest problem is the confirmation time

[CEG5952]

Two things:

1. Confirmation time is too long

2. Withdrawal methods. It would be great if you could directly cash out your bitcoin to fiat.

[scott btc]

#1 problem of Bitcoin is probably lack of adoption.

No, it is whales. People who obtained insane amount of bitcoins one way or another and then removed them from economy, reducing exchange liquidity and causing price to swing wildly. There won't be mass adoption unless liquidity improves big time. But you tell that to someone who sits on 10,000+ BTC and does not have to sell any of those coins unless price suits him (1 million dollars or so).

I think people just haven't heard of it, or they have heard of it, but they don't know what it is.

[Jhacker]

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.

You've just got to make it easy for people to "top up" their bitcoin wallets. Once using bitcoin is simpler than using cash, credit cards, or writing a check, people will use it and every merchant will want to accept it.

[Jhacker]

*confirmation time and inconsistency (sometimes it is few minutes to get first confirmation, sometimes you have to wait half an hour)
*no finance motivation for running bitcoin core node (which cost more and more resources to run and is unusable for home users)
*centralization of bitcoin mining (even I know, that you can't do anything with it, I feel it like a problem)
*non-reverse payments (if you missclick with floating point, you are simply screwed)

and much more, but you asked only for the biggest one:)
 

Non-reverse payments is easily solved; I am working on a solution now that should be up soon at www.morsecoin.com. You simply get the recipient to confirm they own the public key by entering their private key. This can be done on the client side so their key never traverses the network.

[jaberwock]

biggest problem is greedy local exchanges that charges too much for withdraws and for trades.

But it is not software's fault.

 

[nextgencoin]

Bitcoin is perfect, problem is the tech nerdy lot that populate this forum seem to not understand that the mainstream don't want to know about hashing, the blockchain tech, complicated wallets, etc etc.

Thats why Getgems will fill than void. Get Bitcoin away from the nerds at last!!!!

https://bitcointalk.org/index.php?topic=1117801.0

[nextgencoin]

Two things:

1. Confirmation time is too long

2. Withdrawal methods. It would be great if you could directly cash out your bitcoin to fiat.

Getgems sends coins ina split second....problem solved, don't moan...

[fryarminer]

OP, what are you a software development team of?

[Jhacker]

Well, the majority of the replies are about confirmation times. I guess none of them use 3rd party services with instant off chain payment systems. {Xapo / AsMoney etc.}

I have a problem with NEW users being scammed and hacked, due to a lack of security on the 3rd party services they are using. I would want to see someone developing a cheap hardware Bitcoin wallet for entry level Bitcoin users. Something like the Trezor, but just a lot cheaper. {They should be able to buy it, at the price of a 16GB USB Flash Disk}

People should not adopt Bitcoin, just to be hacked within the first few days.   

How do the 3rd party service protect themselves against double spending attacks then?

[Jhacker]

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)
 

Change addresses. I guess it's unsolvable, but if only there could be a bitcoin which didn't require the use of a change address with transactions (i.e., unspent funds remain in original address).

Well that's easy enough, just use the the same address for the to address and the change address. Money goes right back.

[Jhacker]

It's not easy to solve unless you have a degree in computer science. Are there any easy to understand instructions on how to craft your transaction so there is no change anywhere? I mean really basic instructions that any idiot can understand.

I have such a degree... so I'll give it a shot.  I'm not at my node, so I'll have to do this off the top of my head.

1) I see your address is 1MkPr5qEaU5A7fuLx8cpqYfQSanQZptfBS
2) You can see that my address is 18MDTTiqPM8ZEo29Cig1wfGdkLNtvyorW5
3) I see that you have 8.40 mBTC
4) I propose you give me 1.0 mBTC for awesomeness
5) You hit the send button on your Bitcoin-Qt client.
6) You fill in my address as the to: 18MDTTiqPM8ZEo29Cig1wfGdkLNtvyorW5 for 1.0 mBTC
7) You fill in your address as the second recpt: 1MkPr5qEaU5A7fuLx8cpqYfQSanQZptfBS for 7.39 ( the 0.01 mBTC is for TX fee )
8.) If 8.40 is your total balance (can only see the one addr), then no change will get generated.

If your wallet has many addresses, and shows a total of 8976.54 mBTC then just change the amount going back to yourself as simply... all your money.

Here's the math (stay with me).

If you own 8976.54 mBTC in your wallet, and want to pay me (continuing theme) 1 mBTC.

• 8976.54 - 1 (for payment to me) = 8975.54
• 8975.54 - 0.01 (for transaction fee) = 8975.53
• 8975.53 is what you send to yourself in the send window

I might do some screenshots, but I think this subject is getting a bit off in the weeds.

Suffice to say, post a thread "How do I send my change back to my Hot Wallet in Bitcoin-Qt (or whatever)" and you should get plenty of replies.  Easy stuff.

Sorry I use multibit and I put the wallet files for that address into deep cold storage to force myself to HODL my Bitcoins. I haven't noticed a second recpt address field in multibit so I cannot attempt your instructions. In fact I have never seen a second recpt address field in the qt for any alt coin either. Are there any normal alt coin qt wallets with second recpt address fields?

Working on implementing multiple to addresses now. It's not hard to do.