One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
This has been an issue for some time and that is why the developers pushed for the activation of segwit which has alleviated the problem somehow but the real benefits of segwit are yet to come, the purpose of activating segwit was so the developers could release the Lightning Network once that is ready and it works as envisioned by the devs there will not be more scaling problems. 
Topic: One of the biggest challenges that we will encounter in Bitcoin (Read 620 times)
August 13, 2018, 09:26:47 AM
Didn't the lightning network solved this? I don't think we've seen bitcoin network congestion anymore since the last fork and even if we encounter another one I believe some people will find a way to solve that. Bitcoin will face a lot of problem in the future and if it want to become a digital currency then It must face and solve them. Also there's a lot of other coin that claim to have better scalability.
August 13, 2018, 08:41:18 AM
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
One of the biggest challenges that we will encounter in bitcoin are the scammers because they challenge us to keep out account secure . And we should be aware to this . 
The biggest challenge that encounters in Bitcoin is the government is trying to ban the growth of Bitcoin so those who are willing to invest get confused . Bitcoin is a digital currency that people think as a medium of exchange Bitcoin transaction is recorded in a blockchain . Bitcoin is created by mining since Bitcoin is is a decentralized and peer to peer transaction there is no third party influence . One of the problem that Bitcoin is facing is the value fluctuation and the value depends according to the demand.
If the block size limit is increased to the limits sufficient for world needs, then the size of the block will grow to at least a few petabytes. This will lead to an increase in the centralization of bitcoin: only large companies will be able to provide enough data space, processing power and network bandwidth, and the nodes of small operators will be discarded. This contradicts the basic idea of bitcoin as money managed by users.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
The small bandwidth of bitcoin in the number of transactions per second, called scalability, has always been one of the main problems of bitcoin. Of course, the current seven transactions per second for the current bitcoin is catastrophically small. In ethereum, for example, with its fifteen transactions per second, they plan to soon implement the Plasma project, which will give this coin the ability to carry out hundreds of thousands of transactions, and in the future millions of transactions per second. It really will be a good scalability and ethereum after that should well rise in price. And what will happen to bitcoin further? One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
This was alleviated somehow with the activation of segwit and things are going to improve a lot once the lightning network goes live, it is going to take some time before we see that but I think the wait is going to be worth it, so the only thing you need to do is to wait a little bit longer and we will be able to see the benefits of the path taken by the core developers. One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
Campaigns are basically investing your time without assurance. You just have to be good in researching it before entering. And the most important thing in joining campaign is that you should wait.
I know very little about scalability and many technical personals has spoken very well about this issue and how is going to affect transactions in future. I think bitcoin and blockchain developers need to do something about this in others to stop this foreseen problems that may stand against bitcoin adoption.
Thats why lightning network must be released as this is designed to help the transaction become faster and lower fee charges.hopefully this year LN will be on track since December is soon to come and this is the time that many transactions is happening
once the lightning network is implemented then we can see speed in transactions in less fee the transactions are processed in lightening fast
I think one of the challenges right now is the acceptance of btc/ETFS BY SEC.
It's not a challenge at all. It's nothing more than an optional product that the SEC might approve or reject. If they choose to reject it then nothing is lost. The market might be disappointed and go down as result of that, but it's only temporary. We have always gone up without any of these optional produtcs and it worked extremely well. No reason to think current times are different. On top of that, the SEC is just one regulator covering one country -- we have more countries and regulators in the world and one of them will approve an ETF sooner than later.
That is not all, The mainstream usage of btc is another challenge as the usage of cryptocurrency is not fully implemented.
Mainstream usage costs time only. We need the lightning network to be up and running in order to serve a lot people at the same time. It's rapidly growing and becoming more secure, but it may take another year at least....
I think one of the challenges right now is the acceptance of btc/ETFS BY SEC.That is not all, The mainstream usage of btc is another challenge as the usage of cryptocurrency is not fully implemented.
Even though Bitcoin is still the best option for international transactions, I don't see people using Bitcoin for the regular day to day transactions because at this stage most of the things of daily need are available at the price of Bitcoin transaction fee, so technically it is expensive to use Bitcoin for the day to day transactions especially in the case of microtransactions. We must find some concrete solution for this issue because it is an obstacle to the growth of Bitcoin in the offline market.
Every challenge creates success and opportunity. Regardless of the circumstances, let's calmly resolve the issues. There are many solutions to get involved. I believe the leaders will have solutions for investors or you can ask your relatives or friends in the country. Not banned for investment. Also very simple. One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
You don’t know what you’re saying. Being limited in amount is not a problem in Bitcoin. The price for every bitcoin is being determined by the rate of demand. So even if there isn’t much, when the demand increases the price will also increase and as demand continues to go up, so will the price continue also. Even if the price turns out to be stable you will still see people complaining. No way to please them. 
Perhaps the biggest challenge is the government is starting to ban this digital currency to develop so someone who wants to start investing becomes worried and uncomfortable looking for an income in the future.
It is normal in my opinion, bitcoin will be just gaining its value with time passing, so the scalability problem will be solved one day, or Bitcoin will be just replaeced otherwise.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
For me the challenges the i encounter is lack of knowledge in trading bitcoin so that i dont know how to trade my token because im scared to lost it. Next is waiting so long to give my token in some signature campaign. And last is losing my token in my ether wallet.
The only problem with the LN is that there is still the need to close the channel with a fee on the main blockchain unless we either raise the block limits bit or implement -snip-
The block size has been increased with Segwit already, which makes sure that at least initially, we can handle the increased on-chain traffic. If the entire network starts conducting Segwit transactions, and thus drops the legacy format, Bitcoin's throughput will increase far beyond what is currently possible. Segwit while it comes with various important updates, it is actually a first step towards LN. In other words, we don't need a block size increase, but everyone to start utilizing Segwit to the full. Also, the more economical activity is happening on LN, the less incentive there is for people to close their channels. I can see a time where people don't even want on-chain transactions anymore. They'll buy and sell Bitcoin through LN.
One of the biggest challenges with Bitcoin would be lack of adoption by many countries and central banks, this would affect the growth abit, but nevertheless the crypto community would need to develop many unique ways to solve this problem.
The lack of adoption by central banks and governments do not worry me and in fact I think it is natural, I think we are going to see more and more regulation that most people will not follow then it is likely more governments will ban bitcoin and people will still not care, this will keep happening until there is a crisis and governments try to do everything to keep themselves in power and the confiscatory measures will grow up but eventually they are going to give up seeing how ineffective this really is. 
This problem, in principle, is solved. For bitkoina promise in September, a network of lightning. Earlier, SegWit was fully implemented at the end of February for this purpose. If this does not completely solve the problem with scalability in bitcoin, they will come up with something else.
It seems to be a good solution to a similar scaling problem for ethereum is the developed Plasma project, which can allow to make up to hundreds of thousands, and in the future up to millions of transactions per second. So we hope that these problems will be solved in our leaders' crypto currency.
It seems to be a good solution to a similar scaling problem for ethereum is the developed Plasma project, which can allow to make up to hundreds of thousands, and in the future up to millions of transactions per second. So we hope that these problems will be solved in our leaders' crypto currency.
One of the biggest challenges that we will encounter in Bitcoin is Unreliable Third-Party Storage.
There are still lots of Bitcoin users in the world who are not actually Bitcoin users, They deposit their Bitcoins with a third party and what they get in return are promises that they’ll get it back. That’s not really what Satoshi intended when he built a system that wasn’t supposed to have any middlemen.
There are still lots of Bitcoin users in the world who are not actually Bitcoin users, They deposit their Bitcoins with a third party and what they get in return are promises that they’ll get it back. That’s not really what Satoshi intended when he built a system that wasn’t supposed to have any middlemen.
Do you mean investing in HYIP sites? Well judging on the social media groups especially in facebook wherein scammers are everywhere and there are so many people who are still willing to invest in sites that will promise a return in a short period of time. I was once the same with those people investing in those sites but now I know better and I wanted to make people be aware that bitcoin is not just one of the investment schemes but it is a cryptocurrency created to get away with the control of the government. One of the biggest challenge for us is to make people be aware that those are just scam sites and stop them supporting and investing in it.
One of the biggest challenges that we will encounter in Bitcoin is Unreliable Third-Party Storage.
There are still lots of Bitcoin users in the world who are not actually Bitcoin users, They deposit their Bitcoins with a third party and what they get in return are promises that they’ll get it back. That’s not really what Satoshi intended when he built a system that wasn’t supposed to have any middlemen.
There are still lots of Bitcoin users in the world who are not actually Bitcoin users, They deposit their Bitcoins with a third party and what they get in return are promises that they’ll get it back. That’s not really what Satoshi intended when he built a system that wasn’t supposed to have any middlemen.
The only way to scale beyond Visa & Co is to use second layers that aren't stressing the network and don't clutter the blockchain. Bitcoin's LN is already progressing and should be capable of processing millions of transactions per second. We still have to see how it works in reality and what its throughput is really capable of, but I'm very excited and confident. To add; Visa & Co use second and third layers as well, so we're definitely not unique in that aspect.
The only problem with the LN is that there is still the need to close the channel with a fee on the main blockchain unless we either raise the block limits bit or implement channel factories.
If there are mobile clients available utilizing lightning, people won't ever want to deal with the main chain itself due to the significant difference.
This is one of the problems with LN.
We already have bitcoin which is hard to understand for like half of the world and now we add LN on top which I doubt most than 1% truly understand how it works.
So unless we have a client (app) that does it all for you with no stress then it won't be used globally (sadly).
This is the same with VISA, nobody cares what's behind the card, nobody cares that in reality payments have a settlement time, they use it because you can pay in 2 seconds with a contactless card and you're out of the store.
Yeah that's the point. Because its all about the time when things can be sorted out for something. The devs are already on it but only thing we miss is, speed and accuracy of development. The things is, the development here works on the people's contribution considering the fact that it is public ledger and there is no way to keep things altogether unless and until people contribute! Whatever you discussing is all about the part of development and its really achievable. But if master card or such types of payment gateway can handle, the future only for cryptocurrencies
One of the biggest challenges with Bitcoin would be lack of adoption by many countries and central banks, this would affect the growth abit, but nevertheless the crypto community would need to develop many unique ways to solve this problem.
Bitcoin's LN is already progressing and should be capable of processing millions of transactions per second. We still have to see how it works in reality and what its throughput is really capable of, but I'm very excited and confident.
Man, every time I see people talk about lightning network it gives me goosebumps, especially so with how I have had a node operational and conducted quite a few transactions. It almost feels weird to not worry about confirmations anymore, because we're used to them and accepted that it could even take 30+ minutes for transactions to confirm. If there are mobile clients available utilizing lightning, people won't ever want to deal with the main chain itself due to the significant difference. In the end, people want near free and instant settling transactions, and lightning does exactly that, which will be a smash in the face of many altcoins trying to be the currency that Bitcoin couldn't be anymore....
If scalability won't be fixed then its not a problem since I'm quite positive that bitcoin will never be used as a currency. People who knew about the technology will never use bitcoin as a currency instead use FIAT or use another crypto to do transactions online that is more convenient. We do have lots of choices when doing online transactions that is why other modes of payments will coexist with cryptocurrency for more options if one fails to deliver.
Sooner or later there will be new cryptos that will address this problem of scalability so no need to worry about bitcoin's flaws for it will remain an investment vehicle and a store of value.
If the scalability issue is never resolved then it is very likely that bitcoin will be used in a way similar to gold, it will be a store of value and will only be used for the bigger transactions, in that case we will need a coin that works like the silver of cryptocurrencies, and while many people call litecoin like that we will need something faster than that, however I'm confident the issue is going to be solved, bitcoin cash is simply facing this problem with bigger blocks while the original bitcoin and its developers took the choice of developing the LN, a project I support and I think it will be successful. Sooner or later there will be new cryptos that will address this problem of scalability so no need to worry about bitcoin's flaws for it will remain an investment vehicle and a store of value.
Even though Bitcoin is still the best option for international transactions, I don't see people using Bitcoin for the regular day to day transactions because at this stage most of the things of daily need are available at the price of Bitcoin transaction fee, so technically it is expensive to use Bitcoin for the day to day transactions especially in the case of microtransactions. We must find some concrete solution for this issue because it is an obstacle to the growth of Bitcoin in the offline market.
Well, I am not sure why people keep saying that bitcoin will, may or could not achieve the scalability that is need in the current era. There are real world example of Visa companies and MasterCard as well who has more than 20k transaction per seconds capacity. If they can achieve it over the centralised server then why not we over the decentralised network where the blockchain runs through millions of personal computers around the globe! I guess it would be pretty easy to do if someone really puts their efforts into the blockchain and try to scale up the bitcoin nodes. Thoughts are welcome on this one.
The thing is that running 50,000TPS through a blockchain is technically possible, it's however not very healthy in a decentralized way. People quite often forget that every on-chain transaction needs to be validated and recorded in the blockchain that every node/computer has to save an exact copy of. In a decentralized network nodes aren't equal to each other and don't run on high end systems, this is a 'weakness' impossible to overcome.
The only way to scale beyond Visa & Co is to use second layers that aren't stressing the network and don't clutter the blockchain. Bitcoin's LN is already progressing and should be capable of processing millions of transactions per second. We still have to see how it works in reality and what its throughput is really capable of, but I'm very excited and confident. To add; Visa & Co use second and third layers as well, so we're definitely not unique in that aspect.
With block chain technology scalability is not a big problem as per my knowledge and the transactions of crypto is going through advanced platforms which Bitcoin adopts and other altcoins are using ERC20 platform which have two different platform and I think this is huge. I don't think there is a scalability problem and it will be there in future as well since block chain technology transactions uses just 1% to 2% of limit as of now.
One of the challenges bitcoin has is the risk in investing i guess because it takes a lot of courage to venture with this and also on how to identify the acammers to avoid the loss of money and as long as bitcoin is active there are lots of challenges coming in.
Aside from its risk because of volatility and unpredictable price the challenges that we encounter from bitcoin are the people who don't trust from. They are the one who keep on spreading negative news about Bitcoin and they keep on bashing that BTC is a scam. BTC is not a scam either but many people uses bitcoin for scam to destroy its popularity and to get easy money. 
I believe that one of the biggest challenge that Bitcoin encounters is its volatile nature. Volatility though plays a very important role in making the coin a great investment asset, but at the same time stops the coin from being a mainstream currency. For a coin to be mainstream, it needs to be highly stable as a strong economy needs a stable currency. Another problem is the coin's decentralised nature due to which the coin is not getting acceptance worldwide as it is not bound to any rules and regulations by any government.
The biggest challenge that I fear is that hackers keep stealing our account. Many people have lost a lot of organizers in their wallets, only small acts have made us stumble and lose money.
I agree with you, other than the fluctuation problem.theft done by the hacker is also the main problem that we have reached.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
Point out that one towards the devs behind the bitcoin network.
Well, I am not sure why people keep saying that bitcoin will, may or could not achieve the scalability that is need in the current era. There are real world example of Visa companies and MasterCard as well who has more than 20k transaction per seconds capacity. If they can achieve it over the centralised server then why not we over the decentralised network where the blockchain runs through millions of personal computers around the globe! I guess it would be pretty easy to do if someone really puts their efforts into the blockchain and try to scale up the bitcoin nodes. Thoughts are welcome on this one.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
For me the challenges the i encounter is lack of knowledge in trading bitcoin so that i dont know how to trade my token because im scared to lost it. Next is waiting so long to give my token in some signature campaign. And last is losing my token in my ether wallet.
The internet era has one general problem which is hacking.Recently two exchanges have been hacked worth millions of dollars of digital currency.This came at a time btc and ETH were getting back on their feet after a lot of price flatuations.So simply hacking is a major cryptocurrency .
--snip--
It goes to show one thing: every transactions made during those previous instances were spams and nothing more, and both sides are rushing things to gain 'control'. Sure adoption will come soon to bitcoin, but assuming a heavy load within a short span of time is nothing short of nonsensical for me. Good thing LN is there to facilitate transactions should people need to create fast and cheap transactions.
It goes to show one thing: every transactions made during those previous instances were spams and nothing more, and both sides are rushing things to gain 'control'. Sure adoption will come soon to bitcoin, but assuming a heavy load within a short span of time is nothing short of nonsensical for me. Good thing LN is there to facilitate transactions should people need to create fast and cheap transactions.
Another major reason for the spike in transaction was aot of people trading on exchanges and buying up in ICOs. Most exchanges didn't have SegWit enabled or Transaction batching.
Now those features are being added to bigger exchanges gradually and this must have contributed in reducing the load on block space.
Bitcoin is the one tested on its full capacity and ready to face the next level of usage explosion with second layer solutions. As usual, the other coins are still going to keep calling themselves "cheap and fast" when blocks are going completely unoccupied. This can never be a long term solution.
LN is already on mainnet and is now hnder community testing and adoption. As always, bitcoin is the pioneer.
Most exchanges are now using batching and the spam attack has changed. Now bitcoin fees are very low and confirmation time is very quick as well. So I guess this argument about bitcoin so slow and better to used altcoins is already busted. And there's one improvement that we all have been waiting for, and that is LN, once implement together with Segwit, transaction will be instant so I don't know what will be next arguments against bitcoin scalability will be.
Scalability and the issue of interoperability.
This issues are the major reason why bitcoin is yet to be widely accepted.
This issues are the major reason why bitcoin is yet to be widely accepted.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
I think this issue always exist. But i think the biggest challenges in cryptocurrency including bitcoin is regulation from government. When crypto going bigger and government wont issuing regulation, market will unstable because investor will not confident with their investment. Regulation like or not is needed
One of the challenges bitcoin has is the risk in investing i guess because it takes a lot of courage to venture with this and also on how to identify the acammers to avoid the loss of money and as long as bitcoin is active there are lots of challenges coming in.
Scammers are just around us and cant make them disappear, only for our own self to stay away from them. The strong challenge that we are facing today is that of having a high volatility rate which could bring into high risk investment. But isnt enough to be afraid of, still manageable and for those who can take the risk will surely survive and win.
One of the challenges bitcoin has is the risk in investing i guess because it takes a lot of courage to venture with this and also on how to identify the acammers to avoid the loss of money and as long as bitcoin is active there are lots of challenges coming in.
Scammers are just around us and cant make them disappear, only for our own self to stay away from them. The strong challenge that we are facing today is that of having a high volatility rate which could bring into high risk investment. But isnt enough to be afraid of, still manageable and for those who can take the risk will surely survive and win.
One of the challenges bitcoin has is the risk in investing i guess because it takes a lot of courage to venture with this and also on how to identify the acammers to avoid the loss of money and as long as bitcoin is active there are lots of challenges coming in.
Everyone is actually taking a risk for investing a huge amount of their money into cryptocurrency and that is the reason why you should always hold your coins whenever the market is in a huge dip in order to avoid losing a huge amount of profit due to the volatility of the market.
Now, after all, the Lightning Network technology has already appeared, thanks to which the transaction inside the Bitcoin network will be carried out instantly, and the commission for such transactions will be minimal. I believe that the problem of scalability is not the main problem.
the war with the government itself, when our government forbids bitcoin and we try to still use it, that's a big challenge, bitcoin is not accepted in all countries including my country, only the future of bitcoin is guaranteed.
One of the challenges bitcoin has is the risk in investing i guess because it takes a lot of courage to venture with this and also on how to identify the acammers to avoid the loss of money and as long as bitcoin is active there are lots of challenges coming in.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
It was an issue earlier when thousands of transactions got stuck due to spam attacks and as a result of which,BCH supporters started to claim that BCH has very low transaction fee and very fast transactions and so,BCH would be the true bitcoin.But all such issues have already got solved by the active implementation of segwit which has caused transaction fee to fall very low nowadays.
I believe that not only one challenges you will encounter in working here in bitcoin because the truth, there are many trials you need to overcome such as scam, ban and hack your account these will be the common incident happened in the world of cryptocurrency so to avoid this situation you need to be strong so you can't easily give up in any problems you've been come to you.
--snip--
It goes to show one thing: every transactions made during those previous instances were spams and nothing more, and both sides are rushing things to gain 'control'. Sure adoption will come soon to bitcoin, but assuming a heavy load within a short span of time is nothing short of nonsensical for me. Good thing LN is there to facilitate transactions should people need to create fast and cheap transactions.
It goes to show one thing: every transactions made during those previous instances were spams and nothing more, and both sides are rushing things to gain 'control'. Sure adoption will come soon to bitcoin, but assuming a heavy load within a short span of time is nothing short of nonsensical for me. Good thing LN is there to facilitate transactions should people need to create fast and cheap transactions.
Another major reason for the spike in transaction was aot of people trading on exchanges and buying up in ICOs. Most exchanges didn't have SegWit enabled or Transaction batching.
Now those features are being added to bigger exchanges gradually and this must have contributed in reducing the load on block space.
Bitcoin is the one tested on its full capacity and ready to face the next level of usage explosion with second layer solutions. As usual, the other coins are still going to keep calling themselves "cheap and fast" when blocks are going completely unoccupied. This can never be a long term solution.
LN is already on mainnet and is now hnder community testing and adoption. As always, bitcoin is the pioneer.
--snip--
It goes to show one thing: every transactions made during those previous instances were spams and nothing more, and both sides are rushing things to gain 'control'. Sure adoption will come soon to bitcoin, but assuming a heavy load within a short span of time is nothing short of nonsensical for me. Good thing LN is there to facilitate transactions should people need to create fast and cheap transactions.
It goes to show one thing: every transactions made during those previous instances were spams and nothing more, and both sides are rushing things to gain 'control'. Sure adoption will come soon to bitcoin, but assuming a heavy load within a short span of time is nothing short of nonsensical for me. Good thing LN is there to facilitate transactions should people need to create fast and cheap transactions.
Another major reason for the spike in transaction was aot of people trading on exchanges and buying up in ICOs. Most exchanges didn't have SegWit enabled or Transaction batching.
Now those features are being added to bigger exchanges gradually and this must have contributed in reducing the load on block space.
Bitcoin is the one tested on its full capacity and ready to face the next level of usage explosion with second layer solutions. As usual, the other coins are still going to keep calling themselves "cheap and fast" when blocks are going completely unoccupied. This can never be a long term solution.
LN is already on mainnet and is now hnder community testing and adoption. As always, bitcoin is the pioneer.
Now Bitcoin transactions are lightning fast and we can see transactions happen very less fee and fast transactions bitcoin scalability problem is very prolonged issue got solved
All your proposals and your solutions all here are almost all true.
so because I am here still a beginner I got a lot of knowledge for this question, because maybe what is the problem here one day I experienced too.
so I am very grateful for your opinion all that is here can add insight for me.
so because I am here still a beginner I got a lot of knowledge for this question, because maybe what is the problem here one day I experienced too.
so I am very grateful for your opinion all that is here can add insight for me.
the computer pirates, who enter the accounts, no matter how sure they were
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
Yes this is one of the biggest problem of the bitcoin because the transaction cannot be done instantly so if it need to be considered as a mode of payment the transaction should be fast but it is not possible in bitcoin but the transaction speed increased a lot better when compared to the past years so in future the this will get more improved after the implementation of LN and it may make the bitcoin transaction at much faster time. 
This scaling debate has been going on for almost 2 years now, and apparently the fees/transactions have lowered now together with the block size even without LN's help. It goes to show one thing: every transactions made during those previous instances were spams and nothing more, and both sides are rushing things to gain 'control'. Sure adoption will come soon to bitcoin, but assuming a heavy load within a short span of time is nothing short of nonsensical for me. Good thing LN is there to facilitate transactions should people need to create fast and cheap transactions. The dev team would always look for better features to implement without losing the core features of bitcoin and surely, the scaling issue would be addressed every time the need arises.
So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
Lightning network has already proposed one of the solutions - it enhances micropayments between users through a network of users-generated payment channels. Lightning would let people instantaneously send/receive payments and reduce transaction fees by keeping them off the main network.
Thanks to this technology the number of transactions per second can increase by hundreds of thousands of times, and the transfer fee will be reduced to minimum values or will be zero at all.
I know very little about scalability and many technical personals has spoken very well about this issue and how is going to affect transactions in future. I think bitcoin and blockchain developers need to do something about this in others to stop this foreseen problems that may stand against bitcoin adoption.
Thays why Lightning Network is there to help blockchain improving its service for the bitcoin users..with LN transactions ate faster now and lessen amount of transaction fees.Lightning Network is the only working technology at the moment that can solve the existing problem of scalability and instant processing of transactions
Yups and LN is starting to improve the processing of transactions nowadays and it was a big help for all of us I also believe that the solution to scalability problem of bitcoin alone is to use altcoins so that the volume of transactions would diversify making the network of bitcoin still convenient to use.
So your solution for not getting hit by a car is to never leave your house.
Or the solution to fix traffic in New York is to have everybody moved to Los Angeles.
It's simple, once people don't use Bitcoin anymore it makes no sense to continue using BTC only at its currency capacity, what's the point of having two coins for this?
Fortunately LN will solve this, as history has thought us that the other coins, no matter how attractive on paper they are in real life there is no usage , even with bitcoin fees spiking at 20$ per tx.
My challenge that I almost lost everything in trading shitcoins but I was able to pass that challenge and now I am profitable in it
And what has BTC to do with this?
Lightning Network is the only working technology at the moment that can solve the existing problem of scalability and instant processing of transactions
This is also one factor that the biggest problem on bitcoin the delay sometimes of the transaction and the big amount of transaction fees.With the help of this lightning network, it lessens the amount of transaction fees and more faster transaction. There is also segwit that most people that have bitcoin transactions they apply Segwit.
Lightning Network is the only working technology at the moment that can solve the existing problem of scalability and instant processing of transactions
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
one of the biggest challenges that I been encounter in bitcoin is when i badly need money and bitcoin was still dump. then i just sit there. thinking if I sell my bitcoin. im so sad that day. cause my bitcoin was exchanged in very small amount of money. then the next day i trade my bitcoin closely so i can gain an extra amount of bitcoin. i profit more that yesterday. in my experience we should take the risk to gain our goals so we can live happily.
As far as solutions for scaling go, it is possible that the constant and fast pace introduction of new altcoins could eventually provide enough increased network capacity to ease the load of transaction volume on bitcoin's network. Bitcoin will probably never achieve 1,000 transactions per second but if we add 1,000 new altcoins which can achieve 1 transaction per second we can distribute the transactional load in a way which could alleviate those shortcomings.
I also believe that the solution to scalability problem of bitcoin alone is to use altcoins so that the volume of transactions would diversify making the network of bitcoin still convenient to use.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
~snip~Off course. its all about the time when things can be sorted out for something. The devs are already on it but only thing we miss is, speed and accuracy of development. The things is, the development here works on the people's contribution considering the fact that it is public ledger and there is no way to keep things altogether unless and until people contribute! Whatever you discussing is all about the part of development and its really achievable. Obviously if credit card companies were able to handle so many transaction per seconds then blockchain will do that one day.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
My challenge that I almost lost everything in trading shitcoins but I was able to pass that challenge and now I am profitable in it
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
No matter what the challenges that could possibly be encountered by Bitcoin, I will still be investing in it because as far as there are no other coins that could match up in strength in the market then I will always patronize it. Delay in transactions is just normal to any exchanges especially with the high volume coins that are traded.
The biggest challenge that I fear is that hackers keep stealing our account. Many people have lost a lot of organizers in their wallets, only small acts have made us stumble and lose money.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
If scalability won't be fixed then its not a problem since I'm quite positive that bitcoin will never be used as a currency. People who knew about the technology will never use bitcoin as a currency instead use FIAT or use another crypto to do transactions online that is more convenient. We do have lots of choices when doing online transactions that is why other modes of payments will coexist with cryptocurrency for more options if one fails to deliver.
Sooner or later there will be new cryptos that will address this problem of scalability so no need to worry about bitcoin's flaws for it will remain an investment vehicle and a store of value.
Well bitcoin is still continuing to improve. In technology, we need upgrades in order to keep up with the changing world. Scalability is surely a problem we may be facing in the near future because there are lots of people using bitcoin. This is one of the avenues that our programmers must consider to improve with bitcoin. We already got over the too long transactions and the huge fees part. With this i believe, it won't be long til this problem be addressed.
We were told last year that the reason for several fork was to solve the problem of scalability and transaction charge. The issue of transaction charge was partially solved but scalability still remain an issue, I know the developers are not sleeping, let just give them time.
It became an issue because there are too much people spamming transactions. Now that those spammers got what they want (hard fork) average daily transactions became low. I think bitcoin and blockchain developers need to do something about this in others to stop this foreseen problems that may stand against bitcoin adoption.
There are people making a solution for this which is called the Lightning Network. If you don't know what it is then you should read this article to help you understand how it works.https://blog.lightning.engineering/posts/2018/05/02/lightning-ux.html
Because modern currencies are always created and regulated by national governments, blockchain and Bitcoin face obstacles to the problem of adoption / adoption by existing financial institutions if the status of government regulations has not been established.
We were told last year that the reason for several fork was to solve the problem of scalability and transaction charge. The issue of transaction charge was partially solved but scalability still remain an issue, I know the developers are not sleeping, let just give them time.
It will all be fine, problems are here and are appearing as we advance. If there was no advancement there would be no problems. We will cross all the bridges that appear in front of us, some harder than others, but with good devs as we have there will be success.
We were told last year that the reason for several fork was to solve the problem of scalability and transaction charge. The issue of transaction charge was partially solved but scalability still remain an issue, I know the developers are not sleeping, let just give them time.
I know very little about scalability and many technical personals has spoken very well about this issue and how is going to affect transactions in future. I think bitcoin and blockchain developers need to do something about this in others to stop this foreseen problems that may stand against bitcoin adoption.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
Scalability applies to the number of transactions per second, bitcoin and other crypto currencies, achieve per second.
Credit card companies can sustain thousands of transactions per second. Bitcoin's limit is approximately 3-5 transactions per second. There is a school of thought which claims the disparity in performance is an indication of bitcoin not "scaling". It could be a poor way to describe crypto's limitations in this area. Its like claiming that WIFI routers don't "scale" due to the added overhead and performance malus of introducing a cryptographic abstract. This doesn't represent a scaling issue but rather fundamental principles of encryption which necessitate the factoring of large prime numbers and will likely always be slow by nature.
As far as solutions for scaling go, it is possible that the constant and fast pace introduction of new altcoins could eventually provide enough increased network capacity to ease the load of transaction volume on bitcoin's network. Bitcoin will probably never achieve 1,000 transactions per second but if we add 1,000 new altcoins which can achieve 1 transaction per second we can distribute the transactional load in a way which could alleviate those shortcomings.
One of the biggest challenges that we will encounter in Bitcoin is the Scalability problem which means there is only limited amount of information that can be contained or its capacity. I'm sure that there will be more people who will going to join the campaign which will result to a possible delay during processing or trading. So how can we provide a solution on this or how to ensure that all the trading done were saved once delayed before bitcoin achieves mainstream adoption?
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