Can Bitcoin become the best technology ?

[ashour]

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.

This, Bitcoin itself is a technology and is the most popular cryptocurrency. So the statement is false, bitcoin is currently the most popular cryptocurrency.

[HeroCat]

Bitcoin can be one of best technologies, if transfer times will be aeound not more than 2 minutes 

[amiryaqot]

BTCitcoin is one of the best coin as we look at it's technology and i don't think we need another thing so false claim they have the best technology, there are so many factor which makes BTCitcoin the best ever.

[Falconer]

I think bitcoin is a cryptocurrency, same with fiat as a currency. The technology is its transaction and value systems, or we can say it as blockchain. With improved technology, bitcoin will develop rapidly time by time.

[Pk880058]

Bitcoin can be one of best technologies, if transfer times will be aeound not more than 2 minutes 

hey transfer or transaction time is instant but the major problem is in the confirmation time.

[amand0]

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.

Sir, Your reply is legit and wise thank you .

[manselr]

Bitcoin can be one of best technologies, if transfer times will be aeound not more than 2 minutes 

hey transfer or transaction time is instant but the major problem is in the confirmation time.

Confirmation time is not a problem. Credit cards take 180 days to confirm and I never see people complaining about this (well, I see it when they get unwanted chargebacks, hacks etc).
But the point is, 10 min is an huge improvement vs anything previously seen.
Have you ever had any problems with 10 min confirmation time? exactly you havent, and no one else has.

[umair01]

hey transfer or transaction time is instant but the major problem is in the confirmation time.

that's needed to ensure there are no double spending done and usually it's just 5 to 10 minutes max if nothing goes wrong

[Stargazer]

Bitcoin can be one of best technologies, if transfer times will be aeound not more than 2 minutes  

hey transfer or transaction time is instant but the major problem is in the confirmation time.

Confirmation time is not a problem. Credit cards take 180 days to confirm and I never see people complaining about this (well, I see it when they get unwanted chargebacks, hacks etc).
But the point is, 10 min is an huge improvement vs anything previously seen.
Have you ever had any problems with 10 min confirmation time? exactly you havent, and no one else has.

Last time I checked you couldn't get a 10 min confirmation. It usually takes over 20 min to get first confirmation and then you have to wait another 30 min until it all goes through.
Debit cards have almost instant confirmations, so Bitcoin still has a long way to go.

[thebenjamincode]

well for me, bitcoin is great. but it is not yet the best since there are many other altcoins which is not very popular but has potential and wonderful features that are useful. Some altcoins just needs to be recognized because of their features

[binggo1]

i dont think so. cause in around of us, very much best technology like apple as we know, smartphone, and the other..
and now the company have a competition to do the best technology and liked by society..

[Jorge320]

It is already the best crypto example of technology, is it perfect?  No, but we are constantly fine tweaking the technology to make it better and better.  There's no other example of crypto that leads the pack in terms of ease of use, practical use, and adoption out there.

[Pk880058]

Bitcoin can be one of best technologies, if transfer times will be aeound not more than 2 minutes  

hey transfer or transaction time is instant but the major problem is in the confirmation time.

Confirmation time is not a problem. Credit cards take 180 days to confirm and I never see people complaining about this (well, I see it when they get unwanted chargebacks, hacks etc).
But the point is, 10 min is an huge improvement vs anything previously seen.
Have you ever had any problems with 10 min confirmation time? exactly you havent, and no one else has.

Last time I checked you couldn't get a 10 min confirmation. It usually takes over 20 min to get first confirmation and then you have to wait another 30 min until it all goes through.
Debit cards have almost instant confirmations, so Bitcoin still has a long way to go.

Yes at this time we are dependant on paper currency to buy daily items like coffee or pizza.
But if confirmation time decrease then it will be good for daily chores.

[Snorek]

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

Don't be so overly optimistic. Blockchain is great, there is no doubt about it. But it is not the greatest technology. It would not be possible without internet and many other previous discoveries in the first place.
It is great that people are started to notice significance of blockchain:
Blythe Masters on the Significance of Blockchains in Financial Industries at Singularity University's Exponential Finance 2015.
https://www.youtube.com/watch?v=PZ6WR2R1MnM

[Scamalert]

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?

No bitcoin is not the best technoligy.
But the blockchain technoligy is most likly the greatst invension since the fission reactor and the Internet.

[Derrike]

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

Don't be so overly optimistic. Blockchain is great, there is no doubt about it. But it is not the greatest technology. It would not be possible without internet and many other previous discoveries in the first place.
It is great that people are started to notice significance of blockchain:
Blythe Masters on the Significance of Blockchains in Financial Industries at Singularity University's Exponential Finance 2015.
https://www.youtube.com/watch?v=PZ6WR2R1MnM

Yes I know that block chain is great.
But I was referring to the block sizes and the confirmation time required to complete the transaction.

[pereira4]

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

Don't be so overly optimistic. Blockchain is great, there is no doubt about it. But it is not the greatest technology. It would not be possible without internet and many other previous discoveries in the first place.
It is great that people are started to notice significance of blockchain:
Blythe Masters on the Significance of Blockchains in Financial Industries at Singularity University's Exponential Finance 2015.
https://www.youtube.com/watch?v=PZ6WR2R1MnM

Everything is a result of a previous invention. You could say the internet is not that great, because without cables and electricity it could have never been possible... ad infinitum.

[Snorek]

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

Don't be so overly optimistic. Blockchain is great, there is no doubt about it. But it is not the greatest technology. It would not be possible without internet and many other previous discoveries in the first place.
It is great that people are started to notice significance of blockchain:
Blythe Masters on the Significance of Blockchains in Financial Industries at Singularity University's Exponential Finance 2015.
https://www.youtube.com/watch?v=PZ6WR2R1MnM

Yes I know that block chain is great.
But I was referring to the block sizes and the confirmation time required to complete the transaction.

Confirmation times can be lowered. It is possible. Bitcoin block confirmations generally take about ten minutes. That's often longer than is possible to wait for a transaction to clear.
However, it is not wise for bitcoin's code to be upgraded to make confirmations quicker. Confirmation time is security parameter. Lowering it makes the system fundamentally less secure.

[GrandmaJean]

bitcoin can become the best technology as it lets people to be their own banks to themselves and transfer money between people with almost no fees at all

[bornil267645]

I don't think bitcoin is the technology that will reshape the future, but the blockchain tech might. It has the potential of completely change the scenario of modern society.