A big problem in bitcoin ???

[signalbitbot]

The problem is that the big players run the market, if it was not - it would be more interesting

[Aikidoka]

I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.

It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.

[Adeyemi]

I am not sure that this section is right to post my thread .
my question is :
since it was already fixed by the bitcoin owner network that 21 millions bitcoin can exist in the whole internet
But now I heard that now the mining of the bitcoin will be unlimited , I mean unlimited bitcoin will generate by the bitcoin network .
If this is real news then the value of the bitcoin will go down speedly
It is because the supply is unlimited so it is simple to say that bitcoin price will no more increase rapidly ., so no more profit

what's your thought guys

Bitcoin Unlimited does not increase the number of coins.
Under this new client, there will only be 21 million coins. The reason why it is
called unlimited is because it allows the potential to create a block that has more
transactions in it. Current protocol has a limit of 1MB. This new client can be 1MB
to unlimited, if the network participants wish it to be so. Bitcoin Unlimited does not
increase coin supply.

Also, this thread was posted in the wrong section. Please move this to "Bitcoin
Discussion" or "Beginner Section". On the bottom left of your thread, there is move
button where you can move your thread to those sections. This is the Legal Section
and your question does not pose any legal aspect.

You mean the supply of the bitcoin remain maintained in the market according to the demand to make the stable market of Bitcoin .
...

What I am saying is, Bitcoin (Core) now has 21 million total coins allowed to be mined.
"Bitcoin Unlimited" if becomes the main implementation will maintain the 21 million total
coins allowed to be mined.

If both Bitcoin (Core) and Bitcoin Unlimited exists at the same time, there will be two chains each
with their own 21 million coins, BUT it is expected that after a short amount of time, only one of
the two chains will continue to exists. In this case, there will not be 42 million coins in the entire
economy, but back to the 21 million coins in the entire economy.

So, the supply of the bitcoin remaining in the market according to demand will change temporarily
UNTIL this situation is finally resolved and only one of the two bitcoins wins. If both exist at the
same time, the prices and demands will go up and down depending on different information.

The bitcoins will be two different ones (BTC & BTU) temporarily. When this happens, no one really
knows what will or will not happen with the value and supply in the markets. Some people are making
bets on what will happen, because there are different opinions and no one really knows.

I hope this answers what you were asking.

I just learnt something new from this. I never knew that there's a Bitcoin Unlimited. I only know of Bitcoin (Core) and the other forks. I guess I need to read more on this to understand this technology better. Thank you for taking your time to explain this.

[Thyristor]

if a government decides Bitcoin is bad because reasons,keeping your energy footprint and bandwidth consumption low makes it easier to hide the existence of a fullnode.The local power company is usually a government-controlled company reporting directly to the government.

[budz0425]

I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.

It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.

The big problem about bitcoin is due to PEOPLE are not being contented all the time, when the price had just reduce to 1% a lot of people already screaming and asking what is the reason, then reduced by 10% they are crying and more than 10% they are so sick and mad as if this is the end of the world without even analyzing first what is happening.

There is no problem in bitcoin, it is just US who are making trouble from it.

[abdulq]

I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.

It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.

The big problem about bitcoin is due to PEOPLE are not being contented all the time, when the price had just reduce to 1% a lot of people already screaming and asking what is the reason, then reduced by 10% they are crying and more than 10% they are so sick and mad as if this is the end of the world without even analyzing first what is happening.

There is no problem in bitcoin, it is just US who are making trouble from it.

Absolutely correct. When market is going up no one ask what is the reason and whatever they are getting they are happy with that but we should bear in mind that thing which is going up so fast can fall down even so fast So cheers!

[xankor]

What problems can be in the system cryptocurrency?

[kimochidesh]

The problem is that the big players run the market, if it was not - it would be more interesting

It true...Big mining pools got a lot of Hashrate distributed among themselves which make Bitcoin more centralized.
https://blockchain.info/pools ..Check out this link to understand an estimation of hashrate distribution amongst the largest mining pools. It briefs the whole story how players are controlling market as well as Txn fees.

[deppil]

I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.

It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.

getting ahead bitcoin prices will be higher and make bitcoin fees more expensive because the default fee is 0.0001 btc. even in exchange fee fransaction can reach 0.002 btc, its crzy expensive for only transaction fee. that's the biggest problem of bitcoin I think, because how can bitcoin be the world's currency or payment method if the cost per transaction is so expensive? do you think this problem can be solved?
for an unstable price I think it's a natural thing because it's been from the beginning that bitcoin is volatile

[Kambal2000]

I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.

It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.

getting ahead bitcoin prices will be higher and make bitcoin fees more expensive because the default fee is 0.0001 btc. even in exchange fee fransaction can reach 0.002 btc, its crzy expensive for only transaction fee. that's the biggest problem of bitcoin I think, because how can bitcoin be the world's currency or payment method if the cost per transaction is so expensive? do you think this problem can be solved?
for an unstable price I think it's a natural thing because it's been from the beginning that bitcoin is volatile

It is already given with that kind of fee that it will really cost a lot, but don't worry cause the benefit that you are having here is much more than what you are earning in your regular job right? So, we should not complain as the transaction is fair enough for me.

Another problem in bitcoin is that we as a person because we are not contented in what we do have or kept complaining about everything, that the price goes down what is happening, so much screaming around the forum whenever the value of bitcoin is decreasing, why not just continue promoting it and hold what we can so that  we can help bitcoin even for a little and not making any noise that would lead to a public panic to those investors/holders.

[tambok]

I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.

It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.

getting ahead bitcoin prices will be higher and make bitcoin fees more expensive because the default fee is 0.0001 btc. even in exchange fee fransaction can reach 0.002 btc, its crzy expensive for only transaction fee. that's the biggest problem of bitcoin I think, because how can bitcoin be the world's currency or payment method if the cost per transaction is so expensive? do you think this problem can be solved?
for an unstable price I think it's a natural thing because it's been from the beginning that bitcoin is volatile

It is already given with that kind of fee that it will really cost a lot, but don't worry cause the benefit that you are having here is much more than what you are earning in your regular job right? So, we should not complain as the transaction is fair enough for me.

Another problem in bitcoin is that we as a person because we are not contented in what we do have or kept complaining about everything, that the price goes down what is happening, so much screaming around the forum whenever the value of bitcoin is decreasing, why not just continue promoting it and hold what we can so that  we can help bitcoin even for a little and not making any noise that would lead to a public panic to those investors/holders.

You were right buddy, we are only seeing the negative factor on how transactions fee ruining our day without even thinking the net benefit we are gaining here, we should be considerate as exchange or any wallets cannot operate well without enough funds. Let's think twice before complaining, let us put our shoe on each situation, for me I'd rather spend expensive transaction rather than receiving nothing.

[preelee04]

Well, the problem about bitcoin is no other than is when will be dump. I believe all of us will have a problem when the of bitcoin is super low. We dont want to know that bitcoin is low price. We want the higher price.

[denny27]

Well, the problem about bitcoin is no other than is when will be dump. I believe all of us will have a problem when the of bitcoin is super low. We dont want to know that bitcoin is low price. We want the higher price.

I don't think that's a big problem.. comrade, I think that's more to the selfishness of us and it's indeed really humane if it's felt, but it's not a big problem. We know that prices really changes without us guessing and it's already the nature of bitcoin / cryptos, we really should be able to examine the price movements to gain profit in investing.
Well there's still something more trouble than that, like some of the negatively things that many people are still doing, until most governments still see it as unfeasible if it's legal and will have a bad impacts on the country.

[richardsNY]

Well, the problem about bitcoin is no other than is when will be dump. I believe all of us will have a problem when the of bitcoin is super low. We dont want to know that bitcoin is low price. We want the higher price.

All you get rich quick noobs want to see a constantly higher price, and you guys are also the group that complains about the price going down due to a perfectly normal correction. All the long term holders don't complain at all, don't you see that? It's always noobs who are complaining about Bitcoin going up or down -- it just shows how people here think about one thing only, and that's the price. What people failed to understand during the correction this year, was that even at its lowest point of $6k, the price was still 500% up compared to the price exactly one year ago. People see problems where there aren't any problems at all....

[bitcoinFPT]

Unstable prices have made people worried about bitcoin, it is difficult to predict the current bitcoin price

[MCVXYZ]

Unstable prices have made people worried about bitcoin, it is difficult to predict the current bitcoin price

why do you think that its a big problem in bitcoin?It may be the right opinion for you but I know a lot of people who don't care what will be the bitcoin price in the future,because  they know how people value it and therefore its not as difficult to predict the  price of it in the future...
Today,Bitcoin is one of the tradable product and people in every sphere are talking about this,they just want it for their social-economical purposes,its so simple,I mean that it is one of the determinant detail of what you said,It may not be the absolute determinant but its axiom...

[crisanto01]

Unstable prices have made people worried about bitcoin, it is difficult to predict the current bitcoin price

why do you think that its a big problem in bitcoin?It may be the right opinion for you but I know a lot of people who don't care what will be the bitcoin price in the future,because  they know how people value it and therefore its not as difficult to predict the  price of it in the future...
Today,Bitcoin is one of the tradable product and people in every sphere are talking about this,they just want it for their social-economical purposes,its so simple,I mean that it is one of the determinant detail of what you said,It may not be the absolute determinant but its axiom...

That a big problem that OP was stating was actually an advantage to some people, and in fact their life had change a lot because of the unstable price of bitcoin some were doing the buy at low price and sell at high price so it is just a way of strategy how you make earnings here.

[Claudyah]

Blockchain has an environmental cost
Blockchain relies on encryption to provide security such as building consensus through a distributed network. This basically means to "prove" that the user has permission to access to the chain, a complex algorithm must be run, which requires a large amount of computing power.

[valintino7]

A big problem in the bitcoin market I think is the market control of people who are holding large amounts of bitcoin. When they own a large amount of bitcoin and they suddenly sell a large amount of their bitcoin, this will greatly affect the volatility of the market.

This is the most affecting price of Bitcoin. As more and more investors are selling Bitcoin in bulk, the price of Bitcoin will go down. Actually, very many factors that cause the price of Bitcoin to go down or up.

[btc-facebook]

A big problem in the bitcoin market I think is the market control of people who are holding large amounts of bitcoin. When they own a large amount of bitcoin and they suddenly sell a large amount of their bitcoin, this will greatly affect the volatility of the market.

This is the most affecting price of Bitcoin. As more and more investors are selling Bitcoin in bulk, the price of Bitcoin will go down. Actually, very many factors that cause the price of Bitcoin to go down or up.

The OP said that bitcoin is unlimited but he misunderstood, the bitcoin supply will remain same.
Let say if there is more demand for bitcoin, I'm sure bitcoin value will keep increase over time but I can see with bitcoin current value , it's still struggling because there are many bad issue for bitcoin in this 2018