What are the main problems bitcoiners face?

[Juggy777]

This is a good initiave by you, Bitcoin Is yet not easy to understand and newbies are confused by the huge amount of information. Secondly the issue is of long time waiting for a payment to happen at times. The fluctuations that the currency causes, is a boon and curse for some. There's a always a sword on all the users head what if it is banned or suddenly the mining stops. The ever uncertain future, that keeps people away. People often don't end up understanding it's true use and they loose interest.

[calkob]

I am conducting a sort of survey on what we all see as problems in the bitcoin community.

I hope to spark an open discussion that eventually reaches a consensus.

We should probably focus on only the top 7, or maybe top 10, 5 etc...

What are the MAIN problems you face, or you have seen others face, with bitcoin?





I will list what I think are the top problems. NOTE that these are my personal opinions...
1. Still not adopted by enough of the masses to appear in local businesses
2. Too many god damn scam websites,
3. Coinbase closed my account for no reason, a law should exist to prevent businesses denying individuals key services
4. Coinbase currently is the only way to automatically send RECURRING bitcoin payments - recurring transactions a must
5. no transparent, openly white hat bounty hacker police for problem #2 - an internet police white hat hacker network would be nice

"Identifying problems leads to solutions to those problems.
I have the passion and drive to find people who can solve said problems.
Thank you for any input you may have to offer. Long live Bitcoin!"
~ The King

Having to pay a 20% fee every time i send small amount of bitcoin?  we need to sort this out, or the average user is bever going to use bitcoin.  i think it has to do with block size, as it costs more to get included in a block.

[SAMKUSH]

I am conducting a sort of survey on what we all see as problems in the bitcoin community.

I hope to spark an open discussion that eventually reaches a consensus.

We should probably focus on only the top 7, or maybe top 10, 5 etc...

What are the MAIN problems you face, or you have seen others face, with bitcoin?





I will list what I think are the top problems. NOTE that these are my personal opinions...
1. Still not adopted by enough of the masses to appear in local businesses
2. Too many god damn scam websites,
3. Coinbase closed my account for no reason, a law should exist to prevent businesses denying individuals key services
4. Coinbase currently is the only way to automatically send RECURRING bitcoin payments - recurring transactions a must
5. no transparent, openly white hat bounty hacker police for problem #2 - an internet police white hat hacker network would be nice

"Identifying problems leads to solutions to those problems.
I have the passion and drive to find people who can solve said problems.
Thank you for any input you may have to offer. Long live Bitcoin!"
~ The King

Having to pay a 20% fee every time i send small amount of bitcoin?  we need to sort this out, or the average user is bever going to use bitcoin.  i think it has to do with block size, as it costs more to get included in a block.

I agree with this. I often have to send very small payments with fees that are sometimes the same amount as the transaction, I have tried to use services like Xapo where there are no fees but it involves trusting a third party with my bitcoins.

[Dudeperfect]

My list of current bitcoin problems is following,

# 1. Low Adaption by Merchants – There are almost no offline merchants in my city or even in state and country. I don’t have any idea, how to spend my bitcoins on offline level.

# 2. Scams, Scams, Scams – Almost 40% of my gmail inbox are filled with spam offers/websites regarding bitcoin. Yes scam sites offering bitcoin are actually destroying goodwill of bitcoin.

# 3. Bitcoin Address – Yes, call me crazy but still bitcoin address is almost impossible to remember (I know, it’s for security but still). How if we can have feature on blockchain.info like unique url for blockchain holder profile with custom alias like blockchain.info/dudeperfect and one can simply send bitcoins using that personalized link?

[TomasLoden]

The infrastructure is super weak, at least for now. People aren't going to give a shit about bitcoin until they can buy their Starbucks with it.

[RodeoX]

If Satoshi granted me one wish it would be a way for small businesses to run an ATM network. Right now the laws are to onerous or expensive, and there is not enough certainty to invest the capitol needed. But if we could just go the the corner store and buy a bitcoin it would transform adoption.

[xdrpx]

The few problems I face when it comes to using Bitcoins:

1) No Brick and Mortar store in majority of my country accepts Bitcoins. I've found a couple of restaurants that do, but they're in another state and very far aware. Would be nice to be there once and try to spend some of my Bitcoins to have lunch or dinner with family.

2) No easy means to spend my Bitcoins. Bitcoin debit cards are not shipped to my country due to Government restrictions on usage of cards by authorized Banks within the country only. So it's tough or near impossible to spend my Bitcoins at other stores. High fees for withdrawals and transactions on these debit cards. Debit card in my country have just a small yearly fee and no other transaction or ATM fees.

3) Tough to lure strangers into Bitcoin cause of the disadvantages of points 1 and 2.

4) I feel Bitcoin is used more as a commodity by exchanging and holding for a long term. I feel it needs to be transacted a lot more so gain more circulation.

5) Very tough for the old and poor to use Bitcoins. Mostly due to the technology gap for the old and availability of technology for the poor. Also, the poor can't risk the volatile price of Bitcoin. This is where they'd take a step back even if remittances would in a way be benefited due to low fees.

6) Loss of value when an exchange gets hacked. There's no top of the line security or investments on security made by all exchanges. Even popular exchanges are prone to being hacked. Probably appoint white hat hackers and give them bounty's for finding vulnerabilities and threats on the system and platform.

7) Unconfirmed transactions and usually slow confirmations when there's urgency to make a payment due to clogged blocks.

8 ) Risk of centralized mining power by Chinese miners.

[sportis]

People are not informed about pros and cons of bitcoins
Legislation on most countries is prohibitive to use it
Is difficult to be learned by elderly people
Needs internet everywhere
People trust this which can hold and see

[Shenzou]

I don't know about others but in my country bitcoin is not something that is even discovered so few people know about it,and my biggest problem is the lack of trust in bitcoin by the internet community so u can't find much paces to spend it , i mean there are few but not as much as to consider it equivalent to real money

[Wandering Soul~]

As of now, These are the problems that that I encountered as a bitcoin user

1). There are a very limited merchants/businesses who accepts bitcoin that's why you need to use a third party site like purse.io (online shopping)

2). Traffic transactions, We all know that miners usually picks up a transaction with a high miners fee so if you pay low your transaction might get confirmed after a few hours or so (Normally it takes less than an hour)

3). Too many people trying to scam you .  I know that everything that has a money involved, there will always be a scam but in cryptocurrencies it is two time annoying and disturbing .

4). Freelancing jobs that pays well often includes computer -related services ex. programming, graphic design etc. In sites that pays in paypal even the easy jobs pays well .

[NorrisK]

My main problems with bitcoin at the moment are the increasingly long times for confirmations. In the past with the recommended fees it would usually be included within one or two blocks. Now it often takes more than 5 blocks.

Depending on how you want to use bitcoin, those 5 blocks may be way too long.

Adoption is picking up as far as I can see around me. More and more people are getting interested and started buying small parts of bitcoin to be sure they are not completely left out if it takes off.

[audaciousbeing]

The issue I have face and that have been a bother to me are as follows:

The issue of scam everywhere which no one can do anything about it once you send your funds whether knowingly or out of trust, you coin is gone no one to address the issue and even reprimand the scammer. Nothing

The number of confirmations for transactions could be annoying which should really be looked into.

Another is the popularity which is at the low point over here. Hopefully, it will improve.

[xuan87]

My main problems are

1. the transaction speed is quite slow some of my transaction need to wait until 8 hours to be confirmed, i think because of this problem, only few stores want to adapt bitcoin

2. the reputation of bitcoin is really tainted, most of the people used bitcoin anonymity to do illegal and bad things like buying drugs or scamming other people

3.. the adoption in my country, there is no bitcoin store around here, so if i want to spend my bitcoin i need either searching the things from internet and change it to fiat and the buy the things

[Yakamoto]

In my opinion; lack of vendors, long transaction times compared to other forms of payment (however a necessary means of validation) which make it challenging to buy things in person over a decent time frame, and too much centralization; referring to the development of the blockchain and the other means of value confirmation or generation, such as mining.

[deadpoolx]

I would say number one is probably one of the biggest problems. I noticed that most complaints come from the lack of places to spend Bitcoins.
This has different consequences, some of them are fewer users in the market, lower trading volume, lower liquidity in the market and more price instability.

[Barbut]

Long time for transaction confirmation is most common problem here as I can notice, except that people are talking about scammers and reputation of bitcoin. For me this problems are same as problem's that other currencies have as well, its not problem just in bitcoin to be clear about it.
Adoption will come over the time, its not something that we can speed up. It is important for bitcoin, but let's be honest who invest in promotion of bitcoin out of bitcoin world. Except we see mentioning bitcoin in some movie or news we don't see bitcoins in real world.

[CyberKuro]

The main problems I have faced while using Bitcoin are:

1. The acceptance of Bitcoin among some of the biggest online retailers is nowhere near enough. Online retailers and brick and mortar shops need to step up their game and move with the times.
2. Too many Bitcoin exchanges have been hacked as of late and the inside job excuse is present in almost all the of cases. Shady as hell.
3. Bitcoin has become the favorite tool of online thieves and scammers. Unfortunately I don't know how this could be fixed or ameliorated.
4. Bitcoin is volatile as hell. This is a double-edged sword and it can both make you win more money and make you lose more money. A mute point but still.

I have notice that the main problem about security issue whether that scam or hacker, all of it would bring negative effect to bitcoin.
Another problem such as less option to spend bitcoin as there are no merchants accepted bitcoin as payment in my city and volatile of bitcoin price are not really matter for now which these will resolve as the time ticking away.

[Carlton Banks]

transactions confirm too slow

Ok everyone: You need to pay the correct fees to get included in the next block. And No, you did not include the correct fee if your transaction took more than 1 block


You can literally choose roughly how long you want to wait, by changing the fee. Today, 70 satoshis per KB gets you into the blockchain in somewhere less than 6 blocks. 80 satoshis per KB would get your transaction in in 1 block.


If you're having problems paying too much for a transaction that's small and needs to be confirmed fast, you're gonna have to wait until effective micro-payments layers are working. There's always been recognition that lower bounds are needed to protect against people spamming the network, that's not going to change until micro-payments have a working solution. Bitcoin is a bad fit for micropayments, the design is not strong in that area.

[MingLee]

I personally think that a lot of the issues we see are coming from... well, nothing really. Just people sitting there and saying X or Y isn't good enough for them really. The only technical issues that exist, which even right now is a topic that isn't confirmed to actually be an issue, is the block sizes for the volume of transactions. That isn't even really proven to be an issue yet; it might just be a campaign for a power grab.

[arcanaaerobics]

Mass adoption will never happen
Scammers you can see everywhere, don't matter the currency
Never used Coinbase

About the transparency... I think it's not our problem, if the police/government wants to know something, they have to do the job, not me, not you... For me is a plus, not a problem.