What's your biggest problem with Bitcoin

[cjmoles]

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.

My biggest problem with bitcoin is its lack of a smart contract functionality.  It is too easy to send bitcoin off for some goods or services and not receive those goods or services in return.  I know that there are escrow services that provide a measure of comfort but they're not safe either and represent a degree of centralization.  Some of the newer alternatives, such as Ethereum, have included turing capabilities and smart contract functionality to their platform which makes their system less reliant on trust. It would be nice if Bitcoin also included those features somehow.  

[teddy5145]

There aren't very many problems for me with Bitcoin. My only issue is buying BTC, I don't know about any other service's but I use Coinbase currently. It take minimum of 5 days for the BTC I purchase to be credited to my wallet. I think that is just crazy! I mean honestly why should it take that long (with a 1% fee) to get your bitcoin's?? That's honesty my only problem I have, granted it's not BTC's fault and most likely the service I use.

Try to use another alternatives
I honestly don't use Coinbase again because of that
although i gotta say Coinbase is really secure because your coins are being insured

[pogress]

I am still concerned about security in online wallet by 3rd parties.

For security I am not so attentive. for its own security it depends on you.. if you want to more secure you can add some verification like authy, sms, or google authenticator
to a third party you can use the wallet offline

It is not enought, for maximum security you need hardware wallet like trezor. But the problem is trezor cost 99 USD (including shipping). It is too much for regular joe, more like under 20 USD (without shipping) is realistically necessary for trezor to get Bitcoin mainstream - and I think it is bigest problem with Bitcoin to get mainstream - the lack of cheap very secure hardware wallet like trezor

[Parazyd]

I am still concerned about security in online wallet by 3rd parties.

For security I am not so attentive. for its own security it depends on you.. if you want to more secure you can add some verification like authy, sms, or google authenticator
to a third party you can use the wallet offline

It is not enought, for maximum security you need hardware wallet like trezor. But the problem is trezor cost 99 USD (including shipping). It is too much for regular joe, more like under 20 USD (without shipping) is realistically necessary for trezor to get Bitcoin mainstream - and I think it is bigest problem with Bitcoin to get mainstream - the lack of cheap very secure hardware wallet like trezor

It's fairly easy to make your own hardware wallet using SIM cards, Yubikeys or similar stuff.
And quite cheap too, the new Raspberry Pi is what, $5 nowadays?

[Etoiliste]

the biggest bitcoin is that the confirmation take time it should be 10 minutes to get 30 confirmation atleast

[owm123]

the biggest bitcoin is that the confirmation take time it should be 10 minutes to get 30 confirmation atleast

There are many reason why confirmation times are not a few seconds. Is 10 minutes to much? Maybe. But how short should it be? 1 minute? Dont know. For example, Monero has 1 minute now, but I think they will be increasing it to 2 min. 1 min seems too short.

[owm123]

[quote author=cjmoles link=topic=1101336.msg13415737#msg13415737

My biggest problem with bitcoin is its lack of a smart contract functionality.  It is too easy to send bitcoin off for some goods or services and not receive those goods or services in return.  I know that there are escrow services that provide a measure of comfort but they're not safe either and represent a degree of centralization.  Some of the newer alternatives, such as Ethereum, have included turing capabilities and smart contract functionality to their platform which makes their system less reliant on trust. It would be nice if Bitcoin also included those features somehow.  

[/quote]

Is it the same problem with paying online using credit cards or paypal? I mean, you can buy staff online and not receive it, but you can do charge-back as a last resort. So the smart contracts would provide charge-back functionality or something else?

[nerFohanzo]

[quote author=cjmoles link=topic=1101336.msg13415737#msg13415737

My biggest problem with bitcoin is its lack of a smart contract functionality.  It is too easy to send bitcoin off for some goods or services and not receive those goods or services in return.  I know that there are escrow services that provide a measure of comfort but they're not safe either and represent a degree of centralization.  Some of the newer alternatives, such as Ethereum, have included turing capabilities and smart contract functionality to their platform which makes their system less reliant on trust. It would be nice if Bitcoin also included those features somehow.  

Is it the same problem with paying online using credit cards or paypal? I mean, you can buy staff online and not receive it, but you can do charge-back as a last resort. So the smart contracts would provide charge-back functionality or something else?


[/quote]

Yeah but the thing is that bitcoin is always better then paypal or credit cards where they charge heavily on their customers and bitcoins on the other hand is very transparent with the least fees and yes the confirmation time is the biggest problem with bitcoins and sometimes it takes a long time to get confirmed or else there are more satisfied customers of bitcoins for sure as compared to paypal or credit cards.

[Xexen4]

my problem is lost/forgotten coins on old/earlier accounts. some of these lucky guys did not know what they have

[owm123]

my problem is lost/forgotten coins on old/earlier accounts. some of these lucky guys did not know what they have

How is this your problem, unless you are the one that lost some old wallets and accounts?:-)

[cjmoles]

My biggest problem with bitcoin is its lack of a smart contract functionality.  It is too easy to send bitcoin off for some goods or services and not receive those goods or services in return.  I know that there are escrow services that provide a measure of comfort but they're not safe either and represent a degree of centralization.  Some of the newer alternatives, such as Ethereum, have included turing capabilities and smart contract functionality to their platform which makes their system less reliant on trust. It would be nice if Bitcoin also included those features somehow.  

Is it the same problem with paying online using credit cards or paypal? I mean, you can buy staff online and not receive it, but you can do charge-back as a last resort. So the smart contracts would provide charge-back functionality or something else?

Smart contracts can do many things; however, a smart contract can be written (coded) to act as a sort of escrow service by which the funds are not released unless both parties fulfill their part of the obligation. There are many, many applications possible utilizing a platform with smart contract functionality.  Their application is, pretty much, limited only by one's imagination.

[goinmerry]

my problem is lost/forgotten coins on old/earlier accounts. some of these lucky guys did not know what they have

Oh yeah. I have heard one story that says he have 11,000 bitcoin in his account. He is lucky guy because he remembered his password and got back his wallet. Now I dont really know if he is dead due to excitement of made himself fat because he have a lot money. 

[n691309]

my problem is lost/forgotten coins on old/earlier accounts. some of these lucky guys did not know what they have

It's not just you, there are many that have lost the password or forgot but it's common mistake, recently i am having issue calculating the tx fee everytime.

[King tyga]

during transaction process it may take up to 2 to 20 minutes for complete transaction.if i want to use suddeny come a work and we need to bitcoin to paying bitcoin but it will come fast it will take long time to transction process so this is biggest problem of bitcoins.

[Undermood]

For me, I don't know what is the minimum fees to pay and get the transactions confirmed in the next block. The variable block time and the number of tx stuck at mempool are all the factors affecting the confirmatin time.

[gentlemand]

For me, I don't know what is the minimum fees to pay and get the transactions confirmed in the next block. The variable block time and the number of tx stuck at mempool are all the factors affecting the confirmatin time.

Let your wallet decide? Most of them will give you recommendations about fees. They can't guarantee you the next block but I've never had much trouble with them.

[kheein]

I get the problem of bitcoin is the problem of slow transaction confirmation . and one sending bitcoin wallet address to another person , fortunately sipemilik wallet was returned it to me .

[avw1982]

For me, I don't know what is the minimum fees to pay and get the transactions confirmed in the next block. The variable block time and the number of tx stuck at mempool are all the factors affecting the confirmatin time.

Same here for me as you said confirmation time in transactions, Which is taking while sending bitcoin that time it takes long time confirmation only. It’s a little problem but have to fix this soon. And the big headache is scammers. They are trying to cheat with all possibilities.

[chaser15]

And the big headache is scammers. They are trying to cheat with all possibilities.

Bitcoin is money so expect scammers like real money does.

And besides there will be no scammer if no one will be scammed. So make a research about the investment site before putting some eggs on it.

[blackmachinegun]

my problem is lost/forgotten coins on old/earlier accounts. some of these lucky guys did not know what they have

It's not just you, there are many that have lost the password or forgot but it's common mistake, recently i am having issue calculating the tx fee everytime.

same with me, I forgot the password in the wallet, and then I did not record the unique code
so I cannot recover my wallet, unfortunately still any some bits in the wallet