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HeroCat
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August 12, 2016, 02:25:34 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours.  |
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vero
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August 12, 2016, 02:33:45 PM |
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Total centralization would kill all key features for what we value cryptocurrency.
I actually think that decentralization will kill all currencies or a place to store money owned by third parties. people will be more trusting of their own self For sure it is possible in the future, because it is giving the people a lot of opportunities because of its decentralized economy. And I'm thinking about for the next 5 years for sure all over the world. Bitcoin is going to be a method already of payment by almost all companies and it is going to be a need by that time. large companies like Microsoft, Dell, and Expedia have begun taking bitcoin as payment. Few start accepting bitcoin roughly one year ago, a number of major companies are not. Only introduced 7 years ago, Bitcoin is still growing. from where you heard the news, I know bill gates has long been considering accepting bitcoin if all the news is true I think it's great for the development of bitcoin and definitely prices will rise rapidly |
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danherbias07
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August 12, 2016, 02:47:39 PM |
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It will be a big one for bitcoin. A lot will see it and would also trust it. Investors will come seeing a big company is supporting it.
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secone
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August 12, 2016, 05:18:22 PM |
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I predict bitcoin will become one of the digital currency that is recognized worldwide. more and more users are using bitcoin. some large companies have received the bitcoin as a financial payment media.
and the current number of users bitcoin is not too much if the count of the entire population of the world, so that large companies or banks not willing to take steps to adopt. but if bitcoin user growth is increasing, I believe bitcoin will be successful in the future. |
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Bepesand
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August 13, 2016, 05:21:33 PM |
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I predict bitcoin will become one of the digital currency that is recognized worldwide. more and more users are using bitcoin. some large companies have received the bitcoin as a financial payment media.
and the current number of users bitcoin is not too much if the count of the entire population of the world, so that large companies or banks not willing to take steps to adopt. but if bitcoin user growth is increasing, I believe bitcoin will be successful in the future. There are too few users, so the banks or large financial instutions will not be intererested in the bitcoin. After more users, they will adopt it. |
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deisik
Legendary
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August 13, 2016, 06:41:22 PM |
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I predict bitcoin will become one of the digital currency that is recognized worldwide. more and more users are using bitcoin. some large companies have received the bitcoin as a financial payment media.
and the current number of users bitcoin is not too much if the count of the entire population of the world, so that large companies or banks not willing to take steps to adopt. but if bitcoin user growth is increasing, I believe bitcoin will be successful in the future. There are too few users, so the banks or large financial instutions will not be intererested in the bitcoin. After more users, they will adopt it. Now banks and large financial institutions are not interested in Bitcoin because its user base is tiny, but when its user base hits the sky while the price hits the moon, the banks and large financial institutions won't be interested in Bitcoin because they won't have enough means to afford it. Whoever comes first is served best, lol... Otherwise known as the winner takes it all |
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goinmerry
Legendary
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Activity: 2940
Merit: 1083
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August 15, 2016, 10:57:51 AM |
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I predict bitcoin will become one of the digital currency that is recognized worldwide. more and more users are using bitcoin. some large companies have received the bitcoin as a financial payment media.
and the current number of users bitcoin is not too much if the count of the entire population of the world, so that large companies or banks not willing to take steps to adopt. but if bitcoin user growth is increasing, I believe bitcoin will be successful in the future. There are too few users, so the banks or large financial instutions will not be intererested in the bitcoin. After more users, they will adopt it. Now banks and large financial institutions are not interested in Bitcoin because its user base is tiny, but when its user base hits the sky while the price hits the moon, the banks and large financial institutions won't be interested in Bitcoin because they won't have enough means to afford it. Whoever comes first is served best, lol... Otherwise known as the winner takes it all But wait. If they will think that there is still a chance for it to grow then they can still risk some money to afford some bitcoin. If I got the means to have a large number of money to buy it then I will. It just need a little optimism. |
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deisik
Legendary
Offline
Activity: 3444
Merit: 1280
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August 15, 2016, 11:15:52 AM |
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I predict bitcoin will become one of the digital currency that is recognized worldwide. more and more users are using bitcoin. some large companies have received the bitcoin as a financial payment media.
and the current number of users bitcoin is not too much if the count of the entire population of the world, so that large companies or banks not willing to take steps to adopt. but if bitcoin user growth is increasing, I believe bitcoin will be successful in the future. There are too few users, so the banks or large financial instutions will not be intererested in the bitcoin. After more users, they will adopt it. Now banks and large financial institutions are not interested in Bitcoin because its user base is tiny, but when its user base hits the sky while the price hits the moon, the banks and large financial institutions won't be interested in Bitcoin because they won't have enough means to afford it. Whoever comes first is served best, lol... Otherwise known as the winner takes it all But wait. If they will think that there is still a chance for it to grow then they can still risk some money to afford some bitcoin. If I got the means to have a large number of money to buy it then I will. It just need a little optimism. But banks may evidently not have that little bit of optimism. In fact, they don't need optimism at all (either big or small), all they need are sure and consistent ways to earn profits. For example, lending money secured with a solid collateral is one of such ways. Really, why would they want to risk money if they can earn money pretty much without taking risk altogether? Does Bitcoin cut it? Obviously, not yet |
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Bepesand
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August 15, 2016, 05:25:04 PM |
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I predict bitcoin will become one of the digital currency that is recognized worldwide. more and more users are using bitcoin. some large companies have received the bitcoin as a financial payment media.
and the current number of users bitcoin is not too much if the count of the entire population of the world, so that large companies or banks not willing to take steps to adopt. but if bitcoin user growth is increasing, I believe bitcoin will be successful in the future. There are too few users, so the banks or large financial instutions will not be intererested in the bitcoin. After more users, they will adopt it. Now banks and large financial institutions are not interested in Bitcoin because its user base is tiny, but when its user base hits the sky while the price hits the moon, the banks and large financial institutions won't be interested in Bitcoin because they won't have enough means to afford it. Whoever comes first is served best, lol... Otherwise known as the winner takes it all But wait. If they will think that there is still a chance for it to grow then they can still risk some money to afford some bitcoin. If I got the means to have a large number of money to buy it then I will. It just need a little optimism. But banks may evidently not have that little bit of optimism. In fact, they don't need optimism at all (either big or small), all they need are sure and consistent ways to earn profits. For example, lending money secured with a solid collateral is one of such ways. Really, why would they want to risk money if they can earn money pretty much without taking risk altogether? Does Bitcoin cut it? Obviously, not yet The bitcoin can be used by the banks in the future. The cost of using the bitcoin will be lower so the banks can earn more profit. |
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coin_gambler
Sr. Member
Offline
Activity: 462
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
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August 15, 2016, 06:32:20 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i doubt it will be that big of a trouble in the future, in my opinion the bitcoin code is going to be changed and waiting time problems will be solved |
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terman45x
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August 15, 2016, 08:07:35 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i doubt it will be that big of a trouble in the future, in my opinion the bitcoin code is going to be changed and waiting time problems will be solved Merchants will hate to wait for the confirmation time and if that issue is not solved then I don't think that they will be interested in accepting bitcoin as a mode of payment. |
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Crazygreek
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August 15, 2016, 08:41:21 PM |
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I have no predictions, and i don't like making prediction cause i am bad on it, everything goes wrong and better just wait to see what will happen in future.
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ttargett
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August 15, 2016, 11:01:23 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i hope this is going to be changed in the near future in order to attract more people to bitcoins |
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Intristing
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August 16, 2016, 03:03:05 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i hope this is going to be changed in the near future in order to attract more people to bitcoins The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant. |
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danherbias07
Legendary
Offline
Activity: 3122
Merit: 1119
Leading Crypto Sports Betting & Casino Platform
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August 16, 2016, 03:43:38 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i hope this is going to be changed in the near future in order to attract more people to bitcoins The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant. Actually it is getting really longer now. I hope they can manage to do something about it. But if none for the moment I wont mind also. It is still cheaper than others. |
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deisik
Legendary
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Activity: 3444
Merit: 1280
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August 16, 2016, 05:34:57 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i hope this is going to be changed in the near future in order to attract more people to bitcoins The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant. The actual transaction confirmation times are irrelevant. Even if the Bitcoin blockchain clock would tick every second (okay, every other second), that wouldn't change anything substantially. How come? Because you need a truly distributed, decentralized system to get rid of this problem altogether. Ironically, Bitcoin, often cited as a beacon of decentralization, has a transaction ledger (aka blockchain) which is totally and unreservedly centralized up to a point one and only one instance of blockchain is authentic (aka static global variable)... Cash hits devastatingly fatal where Bitcoin fails miserably |
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Bepesand
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August 17, 2016, 03:47:06 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i hope this is going to be changed in the near future in order to attract more people to bitcoins The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant. The actual transaction confirmation times are irrelevant. Even if the Bitcoin blockchain clock would tick every second (okay, every other second), that wouldn't change anything substantially. How come? Because you need a truly distributed, decentralized system to get rid of this problem altogether. Ironically, Bitcoin, often cited as a beacon of decentralization, has a transaction ledger (aka blockchain) which is totally and unreservedly centralized up to a point one and only one instance of blockchain is authentic (aka static global variable)... Cash hits devastatingly fatal where Bitcoin fails miserably The confirmation time matters. A few weeks ago, I paid higher than usual fee and the first confirmation happened 10 blocks later. I missed the buying of goods on that day. |
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deisik
Legendary
Offline
Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
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August 17, 2016, 03:54:27 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. i hope this is going to be changed in the near future in order to attract more people to bitcoins The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant. The actual transaction confirmation times are irrelevant. Even if the Bitcoin blockchain clock would tick every second (okay, every other second), that wouldn't change anything substantially. How come? Because you need a truly distributed, decentralized system to get rid of this problem altogether. Ironically, Bitcoin, often cited as a beacon of decentralization, has a transaction ledger (aka blockchain) which is totally and unreservedly centralized up to a point one and only one instance of blockchain is authentic (aka static global variable)... Cash hits devastatingly fatal where Bitcoin fails miserably The confirmation time matters. A few weeks ago, I paid higher than usual fee and the first confirmation happened 10 blocks later. I missed the buying of goods on that day. You obviously didn't get my point. Diminishing confirmation times won't necessarily make situation much better than it is now, since the Bitcoin blockchain is centralized, and no matter how fast new blocks are mined and propagated (let's remain real here), the number of transactions could still overwhelm the Bitcoin network capacity... Cash, on the other hand, is compellingly free from this problem (since it is totally decentralized) |
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~Bitcoin~
Legendary
Offline
Activity: 994
Merit: 1000
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August 17, 2016, 06:47:10 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. It may take 24 hours only if you haven't attached enough fee in your transaction. Many web wallets have already added recommended fee system so that every transaction get confirmed within max 10 minute or first block after sending coin. |
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torrentheaven
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August 17, 2016, 07:16:24 PM |
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The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. It may take 24 hours only if you haven't attached enough fee in your transaction. Many web wallets have already added recommended fee system so that every transaction get confirmed within max 10 minute or first block after sending coin. Yes and I have never faced any issue with delay in confirmation time, as whenever I receive coins in my wallet it hardly takes 5 to 10 minutes for transaction to get confirmed. |
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