Topic: So...Is Bitcoin the ultimate coin that does not need more development? (Read 927 times)

I agree,  development is always there to anything in this world.  As day goes by,  technology also getting better and improving.  Just like to bitcoin I believe it can be develop more. Its usage and its purpose.  Without development bitcoin can be over pass by new coin which can defeat its characteristic and capability. 

Bitcoin is not yet fully developed and still has a bigger room for improvement. And since bitcoin is so unpredictable, we cannot deny the fact that maybe in the near future, there will be other coins that are much better with bitcoin. For now, bitcoin is still very new to the eyes of the people and it will take long years to be accepted by all countries in the world.

It seems impossible that there will be other coins better than bitcoin, because the history of Bitcoin itself is quite difficult since Satoshi was created. Maybe it's not developed but rather approaches to the world to be more easily accepted

If bitcoin doesnt need any development and no updates would happen, this coin would disappear in 1 year or less. In our world you should always be better than others and in crypto world there are a lot of contest. Thats why bitcoin should always do updates and develop new features.

We see that bitcoin in its current state has many shortcomings, so it needs further improvement. In general, everything needs constant improvement. Everything that does not develop is doomed to gradual extinction. Bitcoin still has work to do, and such work needs to be done all the time. Yes, I don’t see any reason to refuse further improvement.

In my own opinion, bitcoin is still possible to develop since we are in the modern age or technological age. Since, technology innovates the bitcoin and other cryptocurrency is not necessarily needs to keep up to the technology. But I think, the only thing that we need to expect the most is its price in the market or for its better trade to other cryptos.

Bitcoin is a developing space of advancement and there are business openings that additionally incorporate dangers. There is no assurance that Bitcoin will keep on becoming despite the fact that it has created at an exceptionally quick rate up until now. Contributing time and assets on anything identified with Bitcoin requires enterprise.
Bitcoin doesn't require further development,  rather whatever that it lacked is open to improvement by other cryptocurrencies.

This is not true, the halvings have occurred exactly when they were expected to occur and this hasn't changed since the beginning. The high price also means nothing, since it just means that current bitcoin is fine as it is.

No, if you want "proof" go take a look at bitcoin's code and the few changes it has gotten over the years. The "bitcoin core" developers have been maintaining the code for node and wallet etc which is something you can see at the very top "News: Latest Bitcoin Core release: 0.19.0.1" etc.

It actually is quite possible, even bitcoin is open source that means anyone can freely use the code to create their own "custom" coin and possibly add or improve the features that bitcoin currently has and it's called altcoin. Speaking of development, even bitcoin itself is not perfect and what I mean by that is bitcoin has some weakness here and there more specifically the speed of transaction.

Innovation and development is necessary for survival in the market because the demand of user changes time to time,According to the demand of user changes must take place that users retain forever.
If new project of any coin come in market must came with change and also know the demand of the market because people switch to more developed technolog.I am in favour that Bitcoin changes should be updated time to time to retain and attract the new users.

Its further development will bring more improvements in it. Why to reject improvements and more innovations, imagine if it is such valuable and powerful at this stage of development, how it would be after some years later. It will lead the whole markets and all other currencies. It would be more stable and more attracted for the people. Its functioning would bring new technologies which will lead more benefits. It will continue to develop with time.

I highly believe on the concept of database management that it is considerably easy to create a system or database, but what is difficult is to update and maintain the system or database that we have. Comparing this to bitcoin and cryptocurrency, even though bitcoin encounters difficulty in terms of upgrades mainly because of increasing number of people using it, it is not an exception that bitcoin will not be develop. As simple as inducing market adoption, it could already be considered development, as we all know, Bitcoin is very strict in terms of its protocol, so no one could basically alter it even if their purpose is good.

To be honest, every technology needs a continued development and Bitcoin or blockchain in general is one of them otherwise this coin will disappear. Plus, it is fortunate that Bitcoin is a good progress despite many governments tried to destroy it through different ways but they did not succeed in achieving this goal until now due to Bitcoin is secure.
Also, I am pretty sure Bitcoin's era is going to stay in the market until all the countries will recognize it.

Especially if we are speaking about IT sphere - if you do not evolve/adjust/update/improve as the time goes by, it means the project is dead. Do we have things to improve? Of course, now LN is the most important element of the development, as we learnt in Dec 2017, that BTC transaction could take even 24 within its blockchain. Other features can be taken from other cryptos, like ETH (contracts, dapps).

The only feature which would be potentially harmful for BTC would be full privacy (like of privacy coins), as this would automatically cause a hostility from authorities and could lead to bans for BTC (as officials are too afraid of any sort of possibility allowing money laundering).

To say the technology of bitcoin doesn't need more development is in my opinion something that doesn't pay attention to the environment that bitcoin has to function within.

Bitcoin is considered stable right now, as a piece of software, in terms of functionality, network usage etc. Yes, those are fundamentals for any computer network and it's important that bitcoin's core aspects are fully functional without any major issues.

However, I think it's important to remember that bitcoin solved previously unsolved issues and also now poses as an alternative to FIAT. It created an entire alternative to the sector of finance by introducing the blockchain and allowing many innovations to be put in practice through it. To this day, bitcoin remains the most used cryptocurrency, but is this enough? Couldn't the project's scope be widened and core aspects improved?

There are limitations to how much bitcoin can be utilized and by how many people. Bitcoin Improvement Proposals go through a thorough process of checking to improve upon the solid foundations bitcoin has set, without disrupting existing functionality or endangering the robustness of the network and its technology. Improvements and further utilities are vital to making the technology more viable for new use cases, among new crowds etc.

Just to be more specific by providing an example: trustlessness and decentralization are great, but there are barriers to entry for every day transactions and real-world use. In such, people distressed by an oppressive government that inflates the currency might have a hard time utilizing bitcoin's virtues for their needs to survive like shopping groceries. Technologies like the lighting network build upon the bitcoin network's robustness and enable such use cases to become viable.

This is why we need to always keep improving on bitcoin and tools build upon it. Because people need it for what it was built. Digital cash without the potential of interference. Wouldn't you love to see BTC used more for purposes outside of speculation one day?

In other words and to summarize, the fundamentals bitcoin introduced are great. But we should never stop improving and expanding upon them with case so as not to damage the foundations.

Bitcoins were originated as an anonymous currency and we are not even aware about the main developer of bitcoins. Bitcoins have shown us immense growth from the date they were launched which has opened doors to profits for a lot of unemployed community. This serves them as a passive source of income.

Bitcoins might be having some disadvantages which might include their use in illegal firms, etc which would need to be changed in order to start accepting bitcoins on a larger scale globally, but excluding this I do not really need any more changes in the bitcoin networks. Bitcoins can be made more advanced with the newly emerging technologies but it might ruin the original caliber of bitcoins.

I do not agree with your idea, everything needs improvement and developments with the passing time so is the case with Bitcoin. I am not saying that it is not standing at a stable or secure position, no doubt is it has touched the many steps of development and working as the king in crypt market. But development with time will bring more improvements and it will become more efficient.

Everything eventually gets outdated and need to be kept up to date. Everything constantly approves as we come up with new ideas. New features may be added. Remember bitcoin is an open-source project and every one of us contribute towards its direction.


Even people and animals/creatures upgrade. It's called evolution.

Everything needs development. There are no things in this world that are finished and will never be changed.

Think of other great inventions like a telkephone, a computer, an aeroplane, they all change throught the years. Computer languages change, monitors change, everything get better as time goes by... or get's abandoned and forgotten like the telegraph

The team? Which team? As far as I know bitcoin is open source and anyone can contribute to its development through GitHub. And it is wrong to assume bitcoin has been fully developed. There are lots of issues still to be addressed. Several people have tried to fork the main chain and presented their solutions to underlying problems with Satoshi's original chain but again the problem is consensus. Community is still stick with Satoshi's version of Bitcoin Core. But I believe a general consensus will develop very soon and we will see some other version of bitcoin taking over bitcoin core. It would be a doom day and could be very profitable for holders if the price of both currencies rise.