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Author Topic: What does bitcoin need to improve?  (Read 3655 times)
Reid
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February 14, 2018, 07:09:06 PM
 #21

Dethrone? Nah.

Just like every coin or token that will be created out there, new or old there will dents in it.
Who can create a perfect one?
Ethereum made a mess just recently. Litecoin is also good but needs improvements.
They are all the same with bitcoin but just cant get above it.
Fees and faster transaction is a big deal and it really needs some changes. But have you ever thought where this other coins will be without bitcoin?  Grin

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February 14, 2018, 07:23:02 PM
 #22

Well the only problem that I have faced using bitcoins was it's high transactions fees and slow confirmation but as segwit and soon coming lightning network bitcoins will have low fees and high transactions speed.I know that there are some coins which have no fees and are instant but I don't think so that they can handle the traffic which bitcoins handles.Bitcoins getting regulated by the government can be good for bitcoins as it would show green light to all the investors who were scared  to invest in bitcoins because many people thought and media spread alot that bitcoins are illegal and all negative things.
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February 14, 2018, 07:36:13 PM
 #23

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

yes. low transaction fees and high transaction speed are what we need most. many people find it difficult to send their  bitcoins because high transaction fees. should transaction fees remain low even as bitcoin prices increase.

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February 14, 2018, 07:56:39 PM
 #24

I think if bitcoin is not fixed then it does not matter because bitcoin is so popular and popular and a king in crypto currency and is in great demand by community, users, investors and even Bitcoin can be taken for granted.
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February 14, 2018, 08:01:30 PM
 #25

As of today the process of payment on bitcoin, its congested, so if they could make it transactions a little bit faster, it's like people are transferring to ETH because of this, and one more thing is the price.... Hahaha can someone make the price change to good side.

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February 14, 2018, 08:08:05 PM
 #26

Lightning Network and Segwit adoption is already progressing well in the background so my honest opinion is that nothing else should be improved with BTC. The issues that we experienced in the past are now being addressed by those two technologies and those will provide great leaps regarding BTC's advancement in the future. What we need to do is to be patient and help spread the word to the community about the benefits that we could get from LN and Segwit (by using Segwit address). Most important is to stop disseminating false information regarding BTC. Stop the hate and stop the FUD.  Wink

We are getting there. Slowly but surely.  


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February 14, 2018, 08:24:45 PM
 #27

Well the only problem that I have faced using bitcoins was it's high transactions fees and slow confirmation but as segwit and soon coming lightning network bitcoins will have low fees and high transactions speed.I know that there are some coins which have no fees and are instant but I don't think so that they can handle the traffic which bitcoins handles.

SegWit itself won't be doing anything in terms of confirmation times, so even with a sufficient fee you may end up having to wait like 40 or so minutes to see a block come through. Lightning's off-chain way of conducting transactions will counter the confirmation times and make transactions settle basically instantly. Regarding other coins offering cheaper and faster confirmations -- the only reason they allow transactions to be sent back and forth for basically free, is that they lack actual usage. Bitcoin having full blocks means that there is more demand for block space than there is available, which is something to be proud of, really. All other coins with their empty rubbish networks can only wish to have full blocks.
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February 14, 2018, 08:52:45 PM
 #28

Bitcoin needs fast and cheap transactions. To improve the speed of transactions and make them less expensive and even secure, we'll soon have Schnorr. Devs are already working on Lightning Network, but with Schnorr multisig is handled like a regular signature, which make transactions more secure.

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February 14, 2018, 09:28:24 PM
 #29

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.

Various aspects of the weakness of bitcoin is no longer secret, various platforms cryptocurrency, not hesitate to publish it and compare it with their crypto. But still the bitcoin popularity isn't invincible at all.

There's one problem that need to be fixed bitcoin yes that's the bottleneck. Bottleneck is the source of all the problems that are in bitcoin, and results in the high transaction fees, has made many traders reluctant to trade bitcoin especially small traders with minimal capital.

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February 14, 2018, 09:47:16 PM
 #30

Right now bitcoin is facing two major problems i.e High transaction fee and long confirmation time, these two major issues need to be resolve to make bitcoin more attractive and convenient for use.
Quick transactions are needed in order to use cryptos in routine because no retailer can bear long confirmation time.
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February 14, 2018, 10:06:14 PM
 #31

Perhaps the need to improve bitcoin is the fast payoff of those who play bitcoin because those who are bored are thinking that they are scams, and that the bitcoin price is no longer going down that is what I want to improve in bitcoin and wish to be fulfilled.
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February 14, 2018, 10:09:42 PM
 #32

I think bitcoin needs a lot of improvements because I sae new cryptocurrencies that are better than bitcoin and have more advantages than it but still bitcoin is the king because that is the right place for it. First of all the transaction fee should be lower. It may seem that 1$ per transaction is pretty low but think if you want to make hundreds of transactions everyday. That means a lot of money spent only for the fees. The confirmation time for transactions should be higher because it takes some time to receive 6 confirmations.

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February 14, 2018, 10:14:52 PM
 #33

For me i think bitcoin will really need to develop or improved its speed of transaction of payouts or cashouts, cause it takes a day or two for you to cash it out, and also its transaction fee, its whooping high for a transaction fee, thats all its not that a really problem to be fix, its just that there are so many other coins now that can compete with bitcoin, so what bitcoin needs to do is to improve its self.
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February 15, 2018, 12:33:52 AM
 #34

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.

For me there is nothing wrong with bitcoin aside from its high fees, its volatile nature is surely not an advantage but for me it compliments bitcoins market and make it much more conducive for trading. I think its still too early for altcoins to overthrow bitcoin and somehow bitcoin makes altcoins shine more and they go hand in hand in this matter.

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February 15, 2018, 12:39:47 AM
 #35

In my opinion everything was perfect in bitcoin aside from being really secured in our accounts.To avoid those hackers who want to get our money immediately,I want them to be punished in their crime.But in terms of our transactions and doing work with it there is no problem with it.
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February 15, 2018, 12:47:57 AM
 #36

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 know that the fees is not from bitcoin but its from the third party website or in the exchange websites or something this is a problem the big fees and the slow of transaction it will take 2 - 3 hours in our country and its the short waiting time but the longest is it takes weeks to confirm the transactions. 

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February 15, 2018, 12:57:22 AM
 #37

The problems that i can see in Bitcoin that needs to get improvement are the transaction fee and the speed of transaction, In the past when the Bitcoin price isn't this high yet the speed are almost instant, the fee are very cheap unlike now even if we just had a price correction fees are still crazy. This is the reason with the fork but the fork coins also cannot solve it.

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February 15, 2018, 03:03:27 AM
 #38

I found just one shortage of bitcoin, that's take long time to transfer, be sides of that I'm not found any problem, and bitcoin have plus poin that's like good for investment because bitcoin is very fluctuate, and bitcoin the only one most famous cryptocurrency in the world because of the little total supply, that's make the price grow up day by day and bitcoin called the king of all coin.
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February 15, 2018, 03:06:47 AM
 #39

We all know that bitcoin has a problem in scalability, I hope somepeople can solve this problem. I have a problem when bitcoin price reach $20000, its transaction fee is very expensive, I think this is the most important thing that bitcoin need to improve.

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February 15, 2018, 03:21:55 AM
 #40

is in desperate need of improvement because in some countries it is considered illegal transactions. btc must adapt to the requirements provided by the government to be used as a valid transaction tool.

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