Topic: Future improvements (Read 329 times)
Bitcoin privacy can't be over emphasized, it gives absolute confidence. Upgrading whatever aspect that needs to enable it be a pioneer coin for global technological growth is surely a proper way to put bitcoin on top.
Well honestly, the current status of the Bitcoin is alreadt been fine with me, on how I used it. And not only that, the current Bitcoin features already been satisfying the needs of its users. But more than that, I am not against the Bitcoin upgrading or future improvements because for me, continuous innovations and futher developments is really necessary to keep the Bitcoin running.
The lightning network [...]to use it only for conducting small transactions.
saying lightning network is created for conducting small transactions is like saying bitcoin is created to store arbitrary data in OP_Return outputs!
LN is mainly created and used to offer the ability to send/receive a large number of transactions at the highest speed possible while still being decentralized and be on top of bitcoin. using it for micro transactions is only one of the things that this design can offer.
Of course, what you have indicated may change the positive attitude towards Bitcoin, but fundamentally other factors are much more important to it. I am convinced that only the introduction of Bitcoin into the real economy can quickly change the existing reality. So far bitcoin is considered as a means of investment. As an asset, but not as a means of payment. Only when Bitcoin becomes a full-fledged substitute for currency and with the help of it you can buy chips or a bottle of soda in the store, then real success will come to Bitcoin. Of course, the decisions that you described are important from a technical point of view, but still this is secondary.
I do not think Bitcoin needs significant improvements in the future because it's good as it is. Your comparison is not very good with upgrading to your phone. Upgrading to the phone comes from the need for greater security against hacking. Bitcoin uses a decentralized system, and hacking is almost impossible. The only "upgrades" that can be made are trading exchanges, both for their security and investor investment, as well as adjustments to transaction taxes.
No, bitcoin will need significant improvements in the future if it's necessary because if bitcoin is not doing that, then bitcoin cannot serve the best works for us.Upgrading the phone is necessary if we want to get a new update from the developer so we could get better apps for our phone.
Yes, the exchanges must be upgraded the security from time by time because they need to protect the member, the asset, and the website itself. Without making an update for the exchanges, we will see there will be many hacker cases in the future that will happen.
The Lightning Network is just one second layer solution that was developed to solve Bitcoin's scaling problems, I foresee a future where we will see improvements on the Bitcoin protocol, where even the Lightning Network will be obsolete. I think one of the main reasons why the Lightning Network was developed was that we needed a fast solution to address the scaling problems and the developers did not want to implement something that would compromise the integrity of the core Bitcoin protocol.
We will also see a lot more second layer solutions like the Lightning Network that might solve other problems.
The lightning network was not a solution from bitcoin developers. This network is quite complex for practical application gives some failures. Because of the existing vulnerabilities, they wanted to use it only for conducting small transactions. Therefore, I do not really hope for a network of lightning.We will also see a lot more second layer solutions like the Lightning Network that might solve other problems.
Bitcoin really needs to be improved for a long time, and first of all in increasing its scale. While this problem has not been solved for a long time.
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I do not think Bitcoin needs significant improvements in the future because it's good as it is. Your comparison is not very good with upgrading to your phone. Upgrading to the phone comes from the need for greater security against hacking. Bitcoin uses a decentralized system, and hacking is almost impossible. The only "upgrades" that can be made are trading exchanges, both for their security and investor investment, as well as adjustments to transaction taxes.
I will say is too early for everyone of us to decide the future improvement of bitcoin network because we still have a long way to go and as time goes on the change needed will show out itself. However, I also believe the community to the platform which will ease the uses of bitcoin as per the mainstream issue.
I do not think Bitcoin needs significant improvements in the future because it's good as it is. Your comparison is not very good with upgrading to your phone. Upgrading to the phone comes from the need for greater security against hacking. Bitcoin uses a decentralized system, and hacking is almost impossible. The only "upgrades" that can be made are trading exchanges, both for their security and investor investment, as well as adjustments to transaction taxes.
I think bitcoin is good. But I want some improvements so that it will be improved because the technology will always develop in a better way. We always need to improve something, and it's not just "things" but for ourselves too. We adjust many things so that they can be used for the situations and conditions we live in. So if in the future, the era will change, then I think everything will be improved including the blockchain technology itself. I think now, and we see a lot of things changing compared to 5 years ago, we see a lot of projects developing and growing, fulfilling what we want even though not much
1. Isn't it already private? Is there any other fiat currency available that is more private than bitcoin? I am not comparing it with any other tor or onion initiative though!
2 and 3. Lightening network is indeed a very important initiative that is going to have a long lasting effect on bitcoin network in a positive way. Once it is fully implemented, the cost and time of transactions will come down to a very nominal level which will definitely a step closer to mainstream adoption.
We already have mobile wallets available for bitcoin lightening network. The technology is already there but we all are lacking from the acceptability perspective.
4. Small blockchain size would not excite a lot of persons from the cryptospace as it doesn't have any impact on the acceptability. Bitcoin is popular but can we really buy our daily needs using it? Not really! The development on that perspective should start getting some momentum for a holistic improvement.
2 and 3. Lightening network is indeed a very important initiative that is going to have a long lasting effect on bitcoin network in a positive way. Once it is fully implemented, the cost and time of transactions will come down to a very nominal level which will definitely a step closer to mainstream adoption.
We already have mobile wallets available for bitcoin lightening network. The technology is already there but we all are lacking from the acceptability perspective.
4. Small blockchain size would not excite a lot of persons from the cryptospace as it doesn't have any impact on the acceptability. Bitcoin is popular but can we really buy our daily needs using it? Not really! The development on that perspective should start getting some momentum for a holistic improvement.
1. Cash is private. No matter what currency you use. it is hard to say what is more private but that's the fact.
2.3. Then you will just have to convince people to use bitcoin. Even not you can buy literally everything you want for it.
4. That is why someone is developing LN
I stumbled accross this article and it seemed pretty interesting to me since it answered many of the questions. But it was over technical thus let me simplify it.
There are few things that are going to Mark a jump in our beloved cryptocurrency . They are as following:-
There are few things that are going to Mark a jump in our beloved cryptocurrency . They are as following:-
- Bitcoins is going to become more private
I don't think bitcoin needs to be private more than ever. It works on where it is right now and IMO that doesn't need to change. Many privacy freaks could use any other form of money or crypto if they wish.
- It will have better support for the lightning network
This is one of the things I'm wondering about: why would the bitcoin client complement the specifications and technicalities of the lightning network when the lightning network itself should adjust to bitcoin's specification and technicalities? Again, I don't hate LN all in all but being an off-chain, independent solution for congestion, it should have its own ways of addressing what 'incompatibilities' it may have with bitcoin.
- The lightning network will be integrated with mobile( it's still working though )
Does it need to be centered about LN, always, and not bitcoin?
- The block chain won't gain size , it will try and stay small
Impossible, unless someone would come up with a bright solution that would technically render any next blocks to not fill up hard drive storage. It will try to stay small and cram many transactions inside a block but it's a given that as time passes by, blockchain would gain and gain in terms of size.
By the way I wonder if you would have noticed that the transactions are stored in the blockchain and one can easily see any transaction and then redirect to the address it's going to and the fact that this address is usually tied to our personal identities is the fact it's easily trackable.
The reason why our wallet always pops up an option like * use another address * is the reason because if we use the same address at many places we become trackable .
It's pseudo transparent, it still have many flaws when it comes to tracking. Because most wallet companies now require full identification our information is actually stored in the blockchain , every move is monitored and can be taken action against if something happens.[/list][/list]
Actually there are some ways of create a untraceable transaction. And these ways not so hard. If you want to use it, you can do it easily.
And todays, Bitcoin adress can connect our information but in future if everyone use it I think it will get harder. We create a real decentralization. Then all problem easily will be solved.
You stumbled across an article,but there's no link to it and no credit for the article author.
Who is the article author?He sounds like some bitcoin core developer that has control over the blockchain and plans to implement those improvements(which is highly unlikely to be true).
Interesting ideas,though...
Who is the article author?He sounds like some bitcoin core developer that has control over the blockchain and plans to implement those improvements(which is highly unlikely to be true).
Interesting ideas,though...
What the bitcoin team can do for users is to further optimize the cost of transferring bitcoin to another wallet
In some ways optimizing it is good but increasing bitcoin is better but let the developers implement this because bitcoin is still a development program and has plenty of room for improvement. There must be "first things first" on their list and by updating them there will also be a strong branching that can lead to other altcoins.
In some ways optimizing it is good but increasing bitcoin is better but let the developers implement this because bitcoin is still a development program and has plenty of room for improvement. There must be "first things first" on their list and by updating them there will also be a strong branching that can lead to other altcoins.
The Lightning Network is just one second layer solution that was developed to solve Bitcoin's scaling problems, I foresee a future where we will see improvements on the Bitcoin protocol, where even the Lightning Network will be obsolete. I think one of the main reasons why the Lightning Network was developed was that we needed a fast solution to address the scaling problems and the developers did not want to implement something that would compromise the integrity of the core Bitcoin protocol.
We will also see a lot more second layer solutions like the Lightning Network that might solve other problems.
We will also see a lot more second layer solutions like the Lightning Network that might solve other problems.
I think bitcoin is already good. But I want some improvement but I don't know if my idea is possible. What if?We can use and we can process our transaction without using internet. When it's happened I think we can do transaction more cheaper because we don't need load to have an internet connection to use in bitcoin transaction.
If bitcoin needs to upgrade, then it will be improved because the technology will always develop in a better way. We always need to upgrade something, and it's not just a "thing" but for ourselves too. We adjust many things so it could be used for the situations and conditions we lived. So if in the future, the era will change, then I think everything will be upgraded including the blockchain technology itself. I think right now, and we see many things were change comparing to the last 5 years ago, we saw many projects develop and grow, it fills what we want although not much of them was already did that.
Quote
There are few things that are going to Mark a jump in our beloved cryptocurrency .
They are as following:-
Bitcoins is going to become more private
It will have better support for the lightning network
The lightning network will be integrated with mobile( it's still working though )
The block chain won't gain size , it will try and stay small.
They are as following:-
Bitcoins is going to become more private
It will have better support for the lightning network
The lightning network will be integrated with mobile( it's still working though )
The block chain won't gain size , it will try and stay small.
1. Isn't it already private? Is there any other fiat currency available that is more private than bitcoin? I am not comparing it with any other tor or onion initiative though!
2 and 3. Lightening network is indeed a very important initiative that is going to have a long lasting effect on bitcoin network in a positive way. Once it is fully implemented, the cost and time of transactions will come down to a very nominal level which will definitely a step closer to mainstream adoption.
We already have mobile wallets available for bitcoin lightening network. The technology is already there but we all are lacking from the acceptability perspective.
4. Small blockchain size would not excite a lot of persons from the cryptospace as it doesn't have any impact on the acceptability. Bitcoin is popular but can we really buy our daily needs using it? Not really! The development on that perspective should start getting some momentum for a holistic improvement.
i think, that is enough., very perfect, BTC integration in the future will be a good mainstream, BTC will have integration with every social media, easily, and the spread of BTC reaches climax, every transaction is crypto / BTC. THE FUTURE IS BTC
The most optimal thing that the bitcoin team can do for users is to further optimize the fee for transferring bitcoins to other wallets. The smaller the Commission, the more demand it will have.
In addition, it is better to consider the acceleration of the transaction speed for this blockchain as it is one of the slowest in connection with its long-standing existence.
In some points optimizing it is good but upgrading bitcoin is better but let the developers put this implementation since bitcoin is still a developing program and it has a lots of room for improvement. There must be a "first things first" on their list and by upgrading it would also occur a hard fork which could lead to make another altcoin. In addition, it is better to consider the acceleration of the transaction speed for this blockchain as it is one of the slowest in connection with its long-standing existence.
The most optimal thing that the bitcoin team can do for users is to further optimize the fee for transferring bitcoins to other wallets. The smaller the Commission, the more demand it will have.
In addition, it is better to consider the acceleration of the transaction speed for this blockchain as it is one of the slowest in connection with its long-standing existence.
In addition, it is better to consider the acceleration of the transaction speed for this blockchain as it is one of the slowest in connection with its long-standing existence.
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