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Author Topic: What's your biggest problem with Bitcoin  (Read 135034 times)
1Referee
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November 01, 2015, 11:20:00 AM
 #541

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!
im really agree, its hard to make a transaction with bitcoin in real life and the stores that accept bitcoin is pretty low

Why is it hard to make transactions in real life? I do it from time to time with my phone. I just scan a QR code and then the transactions will be successfully completed. Easier than that isn't possible. I do however agree with you that there are not a lot stores that accept Bitcoin, especially if you search through the stores in your area. You realize that there is a long way to go to make them accept Bitcoin.
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November 01, 2015, 12:01:08 PM
 #542

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.
I dont know much about the it, maybe these were debated yesterday, why bitcoin xt is better
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November 01, 2015, 12:06:35 PM
 #543

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
Mine went through fine with 0.0001BTC/KB. It is very easy for the network to change the relay fees to a much lower one. Blocks will grow bigger and the transaction volumes wouldn't be a problem at all. It could be a problem is mining pool choose to go for a higher fee but that would just put miners away from the pool as they can't earn anything from the transaction fees.

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jt byte
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November 01, 2015, 12:30:16 PM
 #544

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

The confirmation can take even longer than 1 hour sometimes.
When there are some stress test or simple attacks, it may take up to 2 days.
By this the funds are sent back to the sender and you should make again the tranasctions.
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November 01, 2015, 12:45:53 PM
 #545

For me, the confirmations time, I hope Bitcoin adopt VNL Zero time confirmation..
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November 01, 2015, 01:07:05 PM
 #546

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

The confirmation can take even longer than 1 hour sometimes.
When there are some stress test or simple attacks, it may take up to 2 days.
By this the funds are sent back to the sender and you should make again the tranasctions.
1.5hours is the longest I have waited. As long as you pay 0.1MBTC/KB fee, you will be fine with most stress test. It is expensive to execute higher fees ones. The transaction simply gets dropped out of the mempool and you can craft another transaction.
For me, the confirmations time, I hope Bitcoin adopt VNL Zero time confirmation..
It isn't too much of a risk to take for merchants in brick and mortar stores. Most only requires you to wait for a few seconds as it is impractical to make a double spend then. For online purchases, it isn't too time critical so 1-3 confirmations is reasonable.

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jt byte
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November 01, 2015, 01:45:05 PM
 #547

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

The confirmation can take even longer than 1 hour sometimes.
When there are some stress test or simple attacks, it may take up to 2 days.
By this the funds are sent back to the sender and you should make again the tranasctions.
1.5hours is the longest I have waited. As long as you pay 0.1MBTC/KB fee, you will be fine with most stress test. It is expensive to execute higher fees ones. The transaction simply gets dropped out of the mempool and you can craft another transaction.

Well yes i have waited around 2 hours too,
But i simple do not care about the transaction fee.
Because i use coinbase for daily transaction and they cover the fees.
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November 02, 2015, 11:12:51 AM
 #548

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.

Lol, I know , it's just that I don't like it personally but I have nothing to do since its normal, I'll just go with the flow Cheesy

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November 02, 2015, 11:45:02 AM
 #549

My problem at the moment is the debate about the blocksize and how bitcoin is becoming more and more adopted worldwide yet the blocksize doesn't seem to bother anyone that it's hitting max capacity.

Why wouldn't even a 2 mb blocksize be reasonable to switch to? Why all the debates about not changing it?

It's really beyond me why they would want to limit themselves now that we have come this far.
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November 02, 2015, 01:20:42 PM
 #550

security becomes the most important thing for bitcoin today.
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November 02, 2015, 03:06:43 PM
 #551

With the current price kick, it's really stressful to think when is the right to buy and sell coins. This is my problem today but this is thrilling and exciting. Don't want to miss the action in the current price kick. You think this is really a problem? Lol.

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November 02, 2015, 03:12:22 PM
 #552

I have no problems with Bitcoin. The only thing that I would love to see being different, are the confirmation times. If you buy stuff online, it's not a big deal. But if you do receive coins from some one in real life, it can be frustrating having to wait 30 or more minutes for a single confirmation.
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November 03, 2015, 01:32:45 PM
 #553

security becomes the most important thing for bitcoin today.

not really ! i find the bitcoin most secure among any other thing even the wallet in your pocket is not that secure but bitcoin is its all in your hand what you do and how you handle your coins there are paper wallets some really good hardware wallets and cold storage as well just store your extra coins in a paper wallet and its not going anywhere

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November 04, 2015, 07:49:32 AM
 #554

security becomes the most important thing for bitcoin today.
security seems safe enough, you can use many systems to strengthen your wallet, like 2FA, sms verif, google authy, and other
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November 04, 2015, 07:53:33 AM
 #555

I have no problems with Bitcoin. The only thing that I would love to see being different, are the confirmation times. If you buy stuff online, it's not a big deal. But if you do receive coins from some one in real life, it can be frustrating having to wait 30 or more minutes for a single confirmation.
yeah now could be a very long time to wait 1 delivery confirmation,
but try using a high fee dude, within a few minutes, bitcoin will in quickly
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November 04, 2015, 07:53:48 AM
 #556

Good security is very well needed for today's BTC!

My friend hacked into my classmate's account and stole 1.5 btc off him.
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November 04, 2015, 09:04:20 AM
 #557

that i do not own all of it Smiley
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November 04, 2015, 12:10:40 PM
 #558

I have no problems with Bitcoin. The only thing that I would love to see being different, are the confirmation times. If you buy stuff online, it's not a big deal. But if you do receive coins from some one in real life, it can be frustrating having to wait 30 or more minutes for a single confirmation.

What you are saying is true but it is not everytime. It might be because of some network issues as when I received bitcoins it hardly takes 5 to 10 mins only sometimes it gets delayed but its a part n parcel of any technology there might be certain issues at some times no big deal, the problem which I see with bitcoins is the price fluctuations, I wish that bitcoins should be more stable.
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November 04, 2015, 12:36:48 PM
 #559

I have no problems with Bitcoin. The only thing that I would love to see being different, are the confirmation times. If you buy stuff online, it's not a big deal. But if you do receive coins from some one in real life, it can be frustrating having to wait 30 or more minutes for a single confirmation.
yeah now could be a very long time to wait 1 delivery confirmation,
but try using a high fee dude, within a few minutes, bitcoin will in quickly
You can only get a confirmation when a block is mined and the miner includes your transaction into the block. At times, the network would take more than 10 minutes to find a block. No matter how much you pay, you have to wait for a block to be found.Additionally, high fees does not give you a guarantee as miners can still avoid including your transaction.

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November 04, 2015, 12:39:44 PM
 #560

well my biggest problem now is that I didn't buy any 2 weeks ago!!  I was so convinced that we were still headed downward, but it looks like 2013 is repeating itself!
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