Tosg399
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June 23, 2018, 06:14:16 PM |
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1) It needs to become less volatile.
Too much volatility kills demand; anecdotally, it remains the biggest barrier to adoption (aside from a lack of understanding) that I’ve seen locally.
Of course, volatility will diminish once consumers are actually using Bitcoin more as a currency than a commodity.
“One of the biggest killer apps [to build would be] removing the volatility and currency risk,” Jered Kenna of Tradehill, a B2B Bitcoin exchange for institutional investors, pointed out at Bitcoin London. BitPay is one such app that helps to reduce volatility by increasing adoption, he said, as it helps consumers connect to a variety of merchants who accept the currency.
2) It needs more exchange platforms.
To buffer Bitcoin from the failures of a given exchange platform, it needs to quickly develop more trusted networks, said Erik Vorhees, founder of Coinapult, a secure Bitcoin wallet and merchant service that works to provide Bitcoin liquidity to businesses.
“The most important thing is for the market to become deeper,” he says. “For that to happen, people need to get away from Mt. Gox. Mt. Gox has been the deepest exchange, but every time they come under pressure, they fail. People are scared to leave their money at Mt. Gox, for both operational reasons and because of regulators around the world.”
Mt. Gox has had its share of hacking scandals. Others are building other exchanges that are more trusted, Vorhees explained.
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"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
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Big Show
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June 23, 2018, 06:35:36 PM |
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The speed of bitcoin transactions needs to be improved. See, many altcoins have faster transaction speeds than bitcoins. I think that's it, so bitcoin is not shifted by other coins.
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arjanenako
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June 23, 2018, 06:42:23 PM |
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Bitcoin hasnt need to improve, but it need help. What help? Help to reduces scam in transaction. When people would help to reduces scams in Bitcoin, surely not just bitcoin but also are people will improve
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CoinstarF
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June 23, 2018, 07:03:58 PM |
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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...
In my opinion Bitcoin has nothing to improve this is a natural creation of Satoshi Nakamoto, needs improvement is our attitude towards using and deal with it when we joined here we knows that bitcoin has a good rules and regulations only some adjustments of the service fee because internet also adjusting thier bills. |
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KesoNie
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June 23, 2018, 07:11:13 PM |
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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 are now useful to all the people out there it helps us to do transactions and gives us income. For me bitcoin are now useful but it makes more useful and convenient lf the system will be more improved and developed like the transaction fees and speed make it more affordable and faster. Then make it more secured because hackers and scammers are everywhere trying to break down your accounts. Bitcoin has a lot of goodness even today that it has it's own weaknesses like being unstable, continuous undefined changing of values and being the coin that are subjected for some changes. But so far alll I wanted to change in bitcoin is to become bitcoin stable and reliable dource of income which is I know it was impossible. |
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Ootsumasu
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June 23, 2018, 07:17:22 PM |
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what bitcoin needs is stability in both purchases and sales. this will make it easier to earn the trust of many people in different countries.
I think with the creation of stability will solve the problem that has been experienced by bitcoin users.
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Jossy111
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June 23, 2018, 07:17:49 PM |
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Though I can say that bitcoin is doing well but it can be better. We need bitcoin to make transaction both on ATM and POS possible so that we it can be easier for all bitcoin holders to make transactions anywhere in the world. This is my own area of concern.
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ambrixa
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June 23, 2018, 07:45:49 PM |
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Bitcoin has gone up tremendous the last few years. (I don't think anybody can tell if that was too high or too low)
millions of people have bought bitcoin before, as an entrance to other crypto's. (that need is over nowadays)
also millions have bought bitcoin to speculate on it's value itself. (that will stay)
(some people say bitcoin can reach 100k or 200k)
a lot of people have lost money (they are not the best promotors)
But also a lot of people who bought bitcoin at lower prices, will try to sell it now, if they are scared prices will drop. On the other hand, people are still accumulating bitcoins. (For every seller there is a buyer)
And there is a psychological 'price'.
Ask yourself the following (a bit retorical) questions:
Would I buy bitcoin for 1 dollar? (the answer can only be: for sure and probably a lot).
Would I buy bitcoin for 100 dollar? (most people would buy it)
Would I buy bitcoin for 1000 dollar? (still a lot of people would buy it)
Would I buy bitcoin for 10K ? (some people would still buy it)
Would I buy bitcoin for 20K? 50K ? (some people actually bought it for 20K, and if it reaches 20K again, people are willing to pay 20K, or 30K again)
Would I buy bitcoin for 100K? 200? 500? ( .... )
That the value has dropped from almost 20k to 6k nowadays is therefor not a strange thing. it has dropped before and recovered. So will it recover again? (nobody can tell !!)
Will it drop to 1 dollar? probably not
So the current value must have some underlaying factors.
Even if you take in consideration the following:
Nowadays, the bitcoin network is slow (compared to others) (4 transactions per second)
the bitcoin network is/was expensive for transactions (compared to others) (at one moment 30 dollar per transaction).
bitcoin is not as popular for smart contracts (compared to others)
Bitcoin uses a lot of energy, instead of for example POS crypto's .
Still, people are wiling to pay 6K for it. So it must have some value?
It is still dominating the crypto landscape. (40%) Although also that number is slowly decreasing over time.
Bitcoin blockchain is so big, that it is almost impossible to hijack nowadays. So it's size makes it very secure!
But other networks are almost as big and also impossible to hijack.
If you relate the price of bitcoin to the hardware needed to keep the network alive, then bitcoin also has a real value. But with lower prices, some people will stop mining bitcoin or switch to other cryptos. But thenthe transactions costs will go up again, and therefor mining will become profitable again. So that will create an equilibrium as well.
And because the difficulty goes up (and thus the hardware demands), the price itself will go up as well. (unless the hardware prices erodation will outrun the hashrate growth)
So yes.. probably.. the price will go up at some point. And if you extrapolate that fact to the future, it could make sense to pay more now in order to have a good position in the future.
but what will happen if bitcoin is no longer NO#1 in marketcapitalization. What will be the psychological effect? what will happen if countries ban (energy intensive) mining?
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John Williamss
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June 24, 2018, 06:00:32 AM |
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It needs to become less volatile. Bitcoin’s price is determined by the laws of supply and demand. Because the supply is limited to 21 million bitcoins, as more people use Bitcoin the increased demand, combined with the fixed supply, will force the price to go up. Because the number of people using Bitcoin in the world is still relatively small, the price of Bitcoin in terms of traditional currency can fluctuate significantly on a daily basis, but will continue to increase as more people start to use it.
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haritha3038
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June 24, 2018, 06:41:28 AM |
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I feel bitcoin holders don't wish bitcoin to fall in value as a result of can|it'll} be terribly prejudicious to them and that i additionally hope bitcoin will convalesce from year to year,Just must improve is group action fee and group action time. someday blockchain take an excessive amount of time to try to to group action in your time do fastly however lighting network will management the bitcoin group action fees.
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Gibreil
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June 24, 2018, 06:48:25 AM |
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In my opinion, there is no need for the bitcoin to improve. It was developed less than a decade and it seems like the people loves the way it is. If there is an update with it, I think bitcoin should pursue lightning networks because it will help for the transaction to become fast and it will help to lessen the charges.
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vssakib
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June 24, 2018, 06:54:24 AM |
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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  I agree with your opinion. Bitcoin does mainly improve transection cost reduce and very fast. |
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Cacao2017
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June 24, 2018, 07:23:00 AM |
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I think that bitcoin is so well suited to what you can invest in or towards trusting if the bitcon changes they are not them and they will disappear from their specs bitcoin dont need to improve
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135cc
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Your professional profile on the blockchain
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June 24, 2018, 12:19:26 PM |
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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.
Im agree with you. Right now, bitcoin still be a king in crypto world. In my opinion, bitcoin should improving their security system. |
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bitcoinskyrocket09
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June 24, 2018, 12:36:37 PM |
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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.
In my own opinion, I think that there is no need for the bitcoin to improve its sytem. It was developed less than a decade back the and it seems like the people loves the way it is and the way how bitcoin work its system. If ever that there is an update with it then I think it is the time that bitcoin should pursue lightning networks to it because it will help for more good transaction to become faster, easier and it will help to lessen the charges of the users. |
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KesoNie
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June 24, 2018, 12:45:44 PM |
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I think that bitcoin is so well suited to what you can invest in or towards trusting if the bitcon changes they are not them and they will disappear from their specs bitcoin dont need to improve
For now I don't see anything that would necessarily be changed. I didn't have any problem with regarding to the policy, regulations and whatsoever all I am concerning right now is the unstable situation of the crypto in the world of Digital currency which I guess is not already puzzle to everybody. |
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btharry
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June 24, 2018, 12:55:13 PM |
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The confirmation speed of a block of BTC is too slow, and it will take a long time for the real transaction. At present, this mechanism is not very good.
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MarioV
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June 24, 2018, 12:57:31 PM |
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Lightning Network will be the true savior of bitcoins. I hope by the end of the year.
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a2offrb
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RISE WITH RAYS FOR THE FUTURE
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June 24, 2018, 09:41:19 PM |
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If probably the high rate charges at the Exchange is fairly charged, this shall give room to welcome so many partakers of Bitcoin in different levels. Also, if we do not allow the maneuverability of Big whales to hinder our way of Bitcoin Subscription either by Trading or holding it shortfall of any Panic, there shall be tremendous improvement as well. More importantly, shunning of FUDs from any quarter or from any community is also an addendum to Bitcoin improvement.
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danggoron
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June 24, 2018, 09:45:36 PM |
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In my opinion, there is no need for the bitcoin to improve. It was developed less than a decade and it seems like the people loves the way it is. If there is an update with it, I think bitcoin should pursue lightning networks because it will help for the transaction to become fast and it will help to lessen the charges.
However, the existence of rumours and negative news about cryptocurrency greatly affect the reduction of bitcoin prices. Conversely, if there is positive news then bitcoin prices tend to increase. Although this is not a standard reference, often happens. Like the case of bitcoin hacking in one of the exchange, the effect of bitcoin price is decreasing. In my opinion, the greatest influence and can affect the rise in bitcoin prices is the existence of legality given by a particular government, let alone from a country that is quite influential in the world. |
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