Can Bitcoin become the best technology ?

[rscholey]

I just read a poster saying "Bitcoin is not the best technology around".  It made me wonder.  Can it be changed to be better and if so is that what is planned or is the technology so baked in that it cannot be improved upon?

[BillyBobZorton]

I just read a poster saying "Bitcoin is not the best technology around".  It made me wonder.  Can it be changed to be better and if so is that what is planned or is the technology so baked in that it cannot be improved upon?

What do you mean? who said this and whats better technology then?
Anyway, Bitcoin is getting improved upon constantly. Even if there are better alternatives in the future, it will not matter, network effect is stronger and Bitcoin is good enough. I mean look at our current banking system. The biggest trash ever, but it's the #1 because of network effect and network effect alone.

[Patatas]

Bitcoin is good but not the best imo

[CoinBateman]

Bitcoin doesn't need to be the 'best' in terms of technology. It has the first mover advantage. It will also serve as the base crypto-currency.

[LiteCoinGuy]

hello my friend,

start with this series and have fun here 

https://www.youtube.com/watch?v=Bhe61JaNFLU

[maokoto]

Bitcoin doesn't need to be the 'best' in terms of technology. It has the first mover advantage. It will also serve as the base crypto-currency.

That is right. It would get a lot of effort and a really innovative approach with many more appealing features to overthrow Bitcoin. And we are talking about money... Bitcoin has all the basics you could ask of a currency, and more. Other altcoins offer more things, but are they really REALLY needed so much?

[gentlemand]

When there are millions and billions of dollars invested 'good enough' suddenly sounds like a very compelling proposition.

These people who love to wheel out the myspace/facebook comparison seem to forget that it cost nothing to switch, and if there was a technical failure because the new system was unproven the only thing you'd lose would be your album of burger shot selfies.

You can replicate the blockchain a trillion times a day. You can't replicate the trust that it's still in the process of earning.

[Abiky]

Ethereum has interesting technology, though. It's a platform for decentralized applications. However, even though these alts provide innovation (such as Maidsafe, Ethereum and NXT) Bitcoin will still be the king of all cryptos. It is the first decentralized crypto currency ever made and the most important thing above all this is the Blockchain technology. Just my opinion  

[evok3d]

We most definitely do not live in a world where the best technology leads the market. if that was the case, the world would be a much better place with highly efficient machinery and systems that would reduce costs and increase the lifespan of our material world. If that was the case, Bitcoin would have replaced Visa/PayPal/MasterCard and a lot of other businesses already. Though this is not the case. We live in a world where adoption and marketing leads the way and politicians and the media who can be bribed dictate rules on who can progress and who cannot.

[Kazimir]

It's not the best possible (yet), as in Bitcoin can still be improved further.
But I'd argue it IS the best, compared to other alternatives.

[oblivi]

When there are millions and billions of dollars invested 'good enough' suddenly sounds like a very compelling proposition.

These people who love to wheel out the myspace/facebook comparison seem to forget that it cost nothing to switch, and if there was a technical failure because the new system was unproven the only thing you'd lose would be your album of burger shot selfies.

You can replicate the blockchain a trillion times a day. You can't replicate the trust that it's still in the process of earning.

Ineed good enough is all that matters. Does anyone remember the early days of the internet and the alternatives to the tcp/ip protocol? some said it wasnt the best technology, some said it will never scale, but it obviously did and bitcoin is exactly the same situation again, its so clear to anyone that has been on the internet since 1985.

[dothebeats]

Block chain is the best technology, no arguing in that. Bitcoin's concept is fine, but what is greater is the underlying technology within it, which is the block chain ledger. Even the banks are so interested in acquiring it. Bitcoin and block chain's concept together are the forerunners on the innovations in technology. It doesn't need to be the best, as long as it fulfills its task.

[tearfereon]

Bitcoin is not a technology. It's a product of some technologic advances, such as cryptology, math, computer science etc.

When you say technology it means an area,  not a spesific product.

[Bitcoin.ProGambler]

Bitcoin is just numbers Games. which have value because of his users

[MinerHQ]

Bitcoin is not a technology. It's a product of some technologic advances, such as cryptology, math, computer science etc.

When you say technology it means an area,  not a spesific product.

Yes your correct, it is not a some thing new technology. It is a new product created - I don't think, it is a best but surely it is very good product and slowly more places accepting it as a alternative currency.

[Kprawn]

You will hear a lot of things like this --> http://www.inc.com/murray-newlands/7-top-trends-in-venture-capital.html

" Despite the fact that the average consumer is still trying to decipher what exactly it is, Bitcoin promises to revolutionize payments over the next decade. Blumberg points out, however, that the most important part of Bitcoin is its "blockchain" technology, not the currency itself. "

The trend now, for most investors, are to invest in "Blockchain" technology. In a sense they just want to copy the Blockchain {Bitcoin is a token of payment, running on the Blockchain} and add their own token or

use the other features of the Blockchain {Remember... Bitcoin is just the currency token... but the Blockchain has loads of other uses too}

Learn some more about the Blockchain and where Bitcoin fit into this and you would understand the whole issue about this. 

[umair01]

well honestly every single technology has it flows and edge , just like in bitcoin , nothing can be labeled perfect as there is none and not any technology could be compared to another one as they have each different category but when it comes to the category that bitcoin is in , I think that its at the very top

[Derrike]

By doing some minor tweaks in Bitcoin network, it will become the best technology ever mankind has ever seen.

[investspot]

Bitcoin doesn't need to be the 'best' in terms of technology. It has the first mover advantage. It will also serve as the base crypto-currency.

Agreed.

[ajareselde]

I just read a poster saying "Bitcoin is not the best technology around".  It made me wonder.  Can it be changed to be better and if so is that what is planned or is the technology so baked in that it cannot be improved upon?

Bitcoin is the best technology around because it can and will be changed by the course of time. Nothing is "hard coded" and bitcoin can be forked into something better
in the future if there is some need for it to be done. The only thing that wont change (shouldnt change) is the 21 million coin limit.

cheers