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Author Topic: What does bitcoin need to improve?  (Read 3689 times)
dupee419
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February 14, 2018, 05:29:10 PM
 #1

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.

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February 14, 2018, 05:34:31 PM
 #2

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.

I think there is nothing to fix with bitcoin, because bitcoin is very good, but only one is possible for us with the problem of delivery that sometimes, long to wait until 6 confirmation ...
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February 14, 2018, 05:35:02 PM
 #3

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
..

Bitcoin is one of the secured online currencies and more trustable now a days so we can definitely make a improvement in bitcoin like putting bitcoin ATM's on all cities it is very helpful to withdraw their bitcoin quickly without delay this will helpful to improve bitcoin user's all over the world.

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February 14, 2018, 05:37:23 PM
 #4

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.

Two things need to be worked mainly- transaction fees should be reduced and we should see faster transfers. This will ensure that more people use it for transactions.
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February 14, 2018, 05:37:38 PM
 #5

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.

I think there is nothing to fix with bitcoin, because bitcoin is very good, but only one is possible for us with the problem of delivery that sometimes, long to wait until 6 confirmation ...

I hope you are joking because there is a bunch we can fix currently. First off we can fix the speed and fee at which we transact because they are not up to par and with LN coming that will change hopefully. Privacy is also another issue but upgrades are incoming to take care of that as well. Other than that I don't see much need for improvement, it is not like we need to make Bitcoin great again Cheesy.

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February 14, 2018, 05:39:57 PM
 #6

Bitcoin continues to control the cryptocurrency market becuase it has been the first cryptocurrency, it has the largest amount of supports and it has been proved to have a stable system for the longest time.
Most of the altcoins came out at 2016+, even if they managed to gain a lot of value, they still won't be able to pass bitcoin because they don't have the support bitcoin has.
I believe that bitcoin has a lot to improve, beginning with handling transactions, are currency it is limited to about 3-4 transactions a second, and more then that will just cause the whole system to be flooded in users, but those problems apply to all the kind of cryptocurrencies, you just don't see it at other currencies because only bitcoin was managed to get so much traffic.

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February 14, 2018, 05:45:07 PM
 #7

Bitcoin continues to control the cryptocurrency market becuase it has been the first cryptocurrency, it has the largest amount of supports and it has been proved to have a stable system for the longest time.
Most of the altcoins came out at 2016+, even if they managed to gain a lot of value, they still won't be able to pass bitcoin because they don't have the support bitcoin has.
I believe that bitcoin has a lot to improve, beginning with handling transactions, are currency it is limited to about 3-4 transactions a second, and more then that will just cause the whole system to be flooded in users, but those problems apply to all the kind of cryptocurrencies, you just don't see it at other currencies because only bitcoin was managed to get so much traffic.

Demand is what Bitcoin needs. If there's less coins on the market then there would be an expensive barter for it.



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February 14, 2018, 05:57:03 PM
 #8

The most simple of things to improve upon are transaction time and transaction cost. Bitcoin at best is usable for large transactions (still debatable) it is in no way suitable for micro transactions right now. If it can ever get confirmation times right down and fees to be cents or less then the use cases will increase ten-fold.

Other areas bitcoin can improve upon are the energy requirements used to mine bitcoin, it will always be a sticking point for many and something to attack bitcoin over. If a way can be found for mining to remain as is in terms of profit and function but to greatly reduce energy consumption then that would be a big improvement.

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February 14, 2018, 06:04:41 PM
 #9

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
Bitcoin needs to improve its smart contract flexibility, scalability and privacy. And this could be done bythe promising innovation enabled by “SegWit” called MAST, which stands for Merkelized Abstract Syntax Trees.

MAST extends smart contract flexibility because it has no limit.

MAST improves scalability. It reduces the amount of data that must be transmitted, validated and stored by all nodes on the network.

MAST improves privacy, again by the virtue of keeping unused scripts hidden forever.

https://bitcoinmagazine.com/articles/the-next-step-to-improve-bitcoin-s-flexibility-scalability-and-privacy-is-called-mast-1476388597/

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February 14, 2018, 06:07:56 PM
 #10


I think there is nothing to fix with bitcoin , because bitcoin is very good, but only one is possible for us with the problem of delivery that sometimes, long to wait until 6 confirmation ...

Have you been living under a rock for the past two years, a new user of bitcoin or you genuinely do not know the true state of Bitcoin's major problems? If Bitcoin's issues are not resolved on time so that mass adoption can take place, it will simply lose dominance and become obsolete while a more usable altcoin takes over.
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February 14, 2018, 06:13:46 PM
Last edit: February 14, 2018, 06:31:08 PM by QuestionAuthority
Merited by lite (1)
 #11

That’s a very subjective question. It all depends on what you want bitcoin to be.

Do you want it to be an easy way to send money to people without a nanny (bank) looking over your shoulder, analyzing everything you do and sending a report to the government about your actions? Would you like to be able to send money around the world without paying an oppressive dictatorship (bank) for the privilege of doing it? Then don’t change anything because bitcoin already does that.

Are you more interested in atomic swaps between cryptocurrencies? Then you need to support Lightning network development.

Do you primarily want bitcoin to be a vehicle for enhanced features like decentralized crowdfunding and distributed exchanges? Then you need to support projects like Omni Layer.

Do you have one specific requirement for your cryptocurrency like buying illegal drugs, guns, supporting terrorists, secretly paying prostitutes? Then you need to drop bitcoin and support altcoins like Monero.

Are you in love with your bank, your government and hate decentralization? Would you really like to modernize the banking system and help them speed up the oversight of your pathetic little life? Then you need to support Ripple.

Bitcoin can work for its originally intended purpose right now without any “improvements”.

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February 14, 2018, 06:14:34 PM
 #12

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
I think the main improvements needs for Bitcoin " Transaction fee should be reduced and faster transaction needs too. Some days ago, I withdraw bitcoin from Master node exchanger site and still, I haven't received my bitcoin. So, bitcoin needs a faster transaction.
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February 14, 2018, 06:17:49 PM
 #13

I think we need to find out the way to improve Bitcoin transaction speed. For these days we need to wait about 30 minutes or maybe more than that to receive enough 6 confirm to complete a Bitcoin transaction, I think it's really long. Although there are so many transaction accelerate service but they're not really good and sometime it doesn't work. Hope that we will never having to see thousands Bitcoin transaction stuck or pending for too long anymore Smiley

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February 14, 2018, 06:19:41 PM
 #14

Bitcoin need to be advertise more in order to attract more people. As of now, there were many ways it was advertise but I think is not yet enough. They should exert more effort to do it.

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February 14, 2018, 06:26:30 PM
 #15

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.

I think it would be much better if the fees were not so high and the time for one transaction is so long. This affects people who use it for payments and not just for trading.  Smiley

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February 14, 2018, 06:27:39 PM
 #16

I think we need to find out the way to improve Bitcoin transaction speed. For these days we need to wait about 30 minutes or maybe more than that to receive enough 6 confirm to complete a Bitcoin transaction, I think it's really long. Although there are so many transaction accelerate service but they're not really good and sometime it doesn't work. Hope that we will never having to see thousands Bitcoin transaction stuck or pending for too long anymore Smiley

I know huh, that’s really fucking slow and costs a lot.

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February 14, 2018, 06:41:23 PM
 #17

I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.

The biggest problems with Bitcoin right now are the high fees and slow transaction times. Back a few years ago, everyone talked about the benefits of Bitcoin:

1) Send money anywhere almost instantly and almost free

2) Store of value

3) Payment method that has almost no fee.

Now Bitcoin is basically a store of value. This may be all isxneeds to be, and it is possible that improvements like the lightning network and atomic swaps can fix those other issue.
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February 14, 2018, 06:48:11 PM
 #18

the problem for bitcoin now is high fees and i hope it will resolve soon as lightning network will launch in this year.
it will be biggest year for bitcoin.

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February 14, 2018, 06:49:08 PM
 #19

It already is continually evolving.

Entire altcoin market is speculation on unproven assets. There are 1500+ altcoins and every single one of them is vaporware. As long as Bitcoin keeps evolving, every other coin will be shown up for being worthless when the bubble bursts and Bitcoin will rise from the Ashes.
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February 14, 2018, 06:51:44 PM
 #20

I like how Bitcoin is, I can't think about any other necessary improvement besides transactions fee costs at this moment.

It's more about what shouldn't be "improved" than what should be improved, considering some people believe any Bitcoin's legalization and regulations are improvements...

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