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Author Topic: What does bitcoin need to improve?  (Read 3872 times)
Daniel Jonas
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March 02, 2018, 07:55:42 AM
 #61

Monero not only has confidential transactions but anonymity of the sender and recipient. Not only that, but almost every transaction is like that since privacy is default. If bitcoin actually does get bulletproofs, it will either be optional or will be a side chain, so not default. You only get maximum privacy if everyone's doing private transactions. And if your base chain isn't private, you'll eventually be losing some anonymity when interacting with it.

So in short, bullet proofs in bitcoin don't obsolete monero and bitcoin is unlikely to ever obsolete monero because of the inherent trade offs necessary for full privacy.
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magicmeyk
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March 02, 2018, 08:01:39 AM
 #62

I want bitcoin to be legalize all around the world that people will have the opportunity to invest in this project that the lower class has the chance to improve their lives in it.
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March 02, 2018, 08:10:45 AM
 #63

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.
I still waiting that LN will adopted on some exchanges, because this LN can affect many advantages for Bitcoin.
We can using Bitcoin as online payment with small amount + small fees and get confirmation fast
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March 02, 2018, 08:11:46 AM
 #64

Monero not only has confidential transactions but anonymity of the sender and recipient. Not only that, but almost every transaction is like that since privacy is default. If bitcoin actually does get bulletproofs, it will either be optional or will be a side chain, so not default. You only get maximum privacy if everyone's doing private transactions. And if your base chain isn't private, you'll eventually be losing some anonymity when interacting with it.

So in short, bullet proofs in bitcoin don't obsolete monero and bitcoin is unlikely to ever obsolete monero because of the inherent trade offs necessary for full privacy.


Monero will never be on mainstream, now that government are into regulating cryptocurrency, this anon coin will always be behind.  Scalability is the only issue with Bitcoin, so implementing lightning network and more upgrades is needed for it to compete against other cryptocurrency that have faster confirmation.

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Nerman
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March 02, 2018, 08:11:58 AM
 #65

I agree that there are faster coins and has cheaper transaction fee but i do not agree that they are close in dethroning bitcoin. Ethereum is really a far second.

For the improvement i do not think there is something needs to be improved. As the saying says if aint broke dont fix it.
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March 02, 2018, 08:16:35 AM
 #66

I think bitcoin need to improve their security and be more flexible.
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March 02, 2018, 08:24:51 AM
 #67

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.
This is a natural response of the users of coins. Human as we are we often need or seek for something better. Others get contented and stick to the known ways while others choose to venture into something new. This behavior is inevitable. This is what we are. So what does it need to improve? Many just to satisfy a person. Can we pull each coin holder to stick to bitcoin no matter how good it is? No. this is just what we are. We have different ideas, we never settle for anything better, we seek the best such that we jump from one option to another.

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Fire316
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March 02, 2018, 08:39:11 AM
 #68

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 the best digital coin in crypto market. It is the famous and most trusted coin ever. But i think there is need more improvement on it in terms of transaction and transaction fees. Bitcoin transaction now is verry low and the transaction fees are too high. I think it is need to improve to have a fast transaction and low fees for much better bitcoin someday.
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March 02, 2018, 08:40:22 AM
 #69

In the past months that I am learning bitcoin, the biggest problem that I encounter is the high transaction fees and the slow transaction speed. When the time that they introduce segwit to us, the problems are slowly to be solved. Now the fees of bitcoin is low compare to its fees in the past months and because its fees are low now, we can make a fast transaction so it makes the transaction faster.

Now, the only thing that bitcoin needs to improve is its adoption and promotion. Some countries banned bitcoin and some cannot adopt bitcoin because it is very risky compare to fiat currency and we need to accept that. I wish in the future, many countries will use bitcoin as another way of transaction or payment especially online.

Regarding to promotion, yes there are many who promotes bitcoin online especially in the social media platforms but what do they promoting? In my experience they are sharing referral links to others to gain money. Why don't we encourage other people to adopt bitcoin? Lets encourage them to learn about bitcoin or cryptocurrency as a whole.

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March 02, 2018, 08:45:52 AM
 #70

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 Bitcoin just upgraded the processing level of the transaction. Currently, Bitcoin does not need to upgrade anything because it has met the needs of all traders. Bitcoin is used as a common currency to exchange other Altcoins.

romanovst
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March 02, 2018, 08:46:25 AM
 #71

I want bitcoin to be legalize all around the world that people will have the opportunity to invest in this project that the lower class has the chance to improve their lives in it.

That is not the problem with bitcoins, it is because of some governments not being able to understand the concept of bitcoins. They think that most of the people are using it for illegal activities or it is some kind of ponzi scheme. There had been so many similar scam online that these governments fear lots of its citizens losing all their money in bitcoins as well. We as investors, should create proper awareness about bitcoins like how it works and what are its benefits. If we are able to create some interest in the mind of politicians, they might start learning about bitcoins.
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March 02, 2018, 08:47:13 AM
 #72

I agree that there are faster coins and has cheaper transaction fee but i do not agree that they are close in dethroning bitcoin. Ethereum is really a far second.

For the improvement i do not think there is something needs to be improved. As the saying says if aint broke dont fix it.

Yes there are coins that's much cheaper fee and fast transaction than bitcoin but we can't remove the fact that despite will all of these bitcoin still dominates the crypto world. On the other hand, bitcoin transaction now is much more faster than before, maybe because of the segwit2x that already in the system. But aside from what had mention above there's nothing to be improve as of the moment.
surfinonmyownwavebaby
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March 02, 2018, 08:51:42 AM
 #73

Segwit has already improved Bitcoin vastly, and Lightning is soon on its way. With those two upgrades out of the way, I would like to see an improvement in the privacy area. Being semi-anon is great but having the ability to be full anonymous with Bitcoin would be ultra wicked to say the least.

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cryptojac17
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March 02, 2018, 09:07:17 AM
 #74

Segwit has already improved Bitcoin vastly, and Lightning is soon on its way. With those two upgrades out of the way, I would like to see an improvement in the privacy area. Being semi-anon is great but having the ability to be full anonymous with Bitcoin would be ultra wicked to say the least.
Bitcoin will still on his throne until this very moment because  of continuous improvement  that’s why people  still  patronizing bitcoin because of its characteristics which  is  anonymous in nature, decentralized and P2P the thing  that I think should  be done  in order  to make bitcoin still number one in crypto currency world it should be technology continuous improvements.

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March 02, 2018, 11:08:16 AM
 #75

In my opinion, I think we should focus on Bitcoin as a payment system and not as a speculative instrument. Unfortunately when someone enters into Bitcoin in most of the cases he look for the profit through speculative gains but I think that it should be the second priority because the core principle of Bitcoins states that it is a payment system having some benefits as compared to that of traditional payment system so we should focus on gaining benefits out of that factor because it is something that is having a long-lasting impact.
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March 02, 2018, 06:04:19 PM
 #76

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.

expanding the size of blocks, since charges will hypothetically rise less rapidly as the block size increments. In any case, bitcoin is not any more the main child on the crypto square; it is confronting rivalry, specifically from Ethereum, another sort of blockchain. It was propelled just two or three years prior, and has developed quick. It has likewise offered ascend to an influx of "Initial coin offerings" (ICOs), a novel method for crowdfunding.
brickafterbrickwalldpt
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March 02, 2018, 06:12:59 PM
 #77

Bitcoin is good but it's not perfect, it will never be because there are many different opinion what was the original vision of Satoshi Nakamoto. Recently, the biggest problem were fees which were extremely high. Fortunately it looks like this problem is solved for now. SegWit adoption is rising, Lightning Network is almost there. I think that we should focus now on making transactions smaller and more anonymous. Right now everyone can see where we send our bitcoins and how much of them. That is why it is important not to connect your address with you identity.

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March 02, 2018, 06:50:38 PM
 #78

It seems like things that need to be fixed by bitcoin is the speed and cost of the transaction. Bitcoin must be able to compete with another crypto so as not to lose enthusiasts because the day is sure developers always improve the technology to satisfy the users. Let alone another crypto now offer cheaper transaction cost than bitcoin. Even so, bitcoin is still the main crypto for cryptocurrency enthusiasts because bitcoin is the first crypto to be the reference for another crypto.

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March 02, 2018, 06:55:54 PM
 #79

transaction fees are high... also transaction time is high than other currency.These need too be improve.  because of that people not using bitcoin and reduce the dependency on bitcoin. Results in stabilize the price of bitcoin.

Nowadays it is quite low, and yesterday one of my transactions got confirmed in 20 minutes after paying a fee of just 1 Sat/Byte. However, I am not sure whether these low rates will remain for the medium-term future.

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March 02, 2018, 06:57:39 PM
 #80

I also do not like the speed of confirmation of transactions and their price. We saw this flaw when the price of bitcoin was $ 20,000. Can you imagine what the price will be for the transaction if the price of bitcoin is 50K-100k. But there is still the problem of the inability to withdraw your payment if the store sent you a defective product or did not send you anything. Now this is not very important because most stores do not accept bitcoin for payment. But we need to prepare for this now.
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