So...Is Bitcoin the ultimate coin that does not need more development? - page 2.

salad daging

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Quote from: duke89 on January 22, 2020, 09:15:25 PM

As subject goes, is Bitcoin the maximum version?

Is it still possible to develop it?

or

Can we still expect better coin than Bitcoin?

Obviously not. Every technology does need a development otherwise it will be degenerated. There's no such perferct system or technology ever created because if there is then we don't need to invent things that is way more efficient. Bitcoin may seems efficient but it does need an improvement in terms of security, speed and more. I believe that Bitcoin is in development stage and it will always be.

as you mentioned, bitcoin still has a problem that needs to be refined, and it's not easy and has to go through consensus several times. No other coin has the same level and most of the popular altcoins have really become centralized and cannot be compared, other coins will remain alternatives that actively support bitcoin.

turkandjaydee

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Quote from: electronicash on January 25, 2020, 02:22:42 AM

quantum computing is a threat to Bitcoin which the team may actually be working to make it quantum proof and because of there may be another fork in the future.

Based on this article, quantum computer wont be able to threat bitcoin network anytime soon. Although I didn't read all of the answers there, but I see that there are still many things that are full of obscurity.

So there is still a lot of time for bitcoin developers to prepare from this threat. I'm also wondering if every other miner is also using a quantum computer in the future so it's not possible anymore to threaten bitcoin network with 1 quantum computer. I'm not a bitcoin expert so I also want to know what do you guys think about this?

And also I just see there is a project called Quantum Resistant Ledger who try to resolve this quantum computer threat.

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so, does it need development or not? i don't get it Grin

Yes of course. Almost everything needs to be updated and follow the trend if it wants to keep gain interest from people and doesn't want to be abandoned. Except for fiat which is forced to be used by the government.

Easteregg69

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Stash that BTC and try some smartcontracts. Way more fun.

Throw some new money at it.

bitcoindusts

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Quote from: duke89 on January 22, 2020, 09:15:25 PM

As subject goes, is Bitcoin the maximum version?

Is it still possible to develop it?

or

Can we still expect better coin than Bitcoin?

Bitcoin maybe popular but its technology is falling behind other altcoin so developer wanting Bitcoin to be competitive and at the same time address several issues regarding its transaction time and other stuff, so they intend to further develop Bitcoin. If you have read the recent thread created by Jet Cash, you will see the possible update of Bitcoin.

imstillthebest

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Quote from: jhonjhon on January 26, 2020, 04:59:58 AM

No, bitcoin isn't the maximum version yet, bitcoin still has a lot of areas that need improvement. Bitcoin is not a perfect coin and as the technology advances improvements are necessary thus, we can expect that bitcoin is not exempted from these improvements.

well for me btc is okay now and not need any improvement . i like the way how it work ( up and down price ) and in my mind , what if btc will improve i think this feature will also be gone which i dont like to happen . they can tweak other coins because there are so many coins on this crypto market . its okay if they can fix or broke those coins because many people wouldnt care at all but bitcoin , nah , its hard to mess with it because btc got alot of base users .

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No, bitcoin isn't the maximum version yet, bitcoin still has a lot of areas that need improvement. Bitcoin is not a perfect coin and as the technology advances improvements are necessary thus, we can expect that bitcoin is not exempted from these improvements.

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Quote from: duke89 on January 22, 2020, 09:15:25 PM

As subject goes, is Bitcoin the maximum version?

Is it still possible to develop it?

or

Can we still expect better coin than Bitcoin?

Oh no of course.
There are bitcoins and there are altcoins, there is huge difference between them and altcoins were created in order to offer something better in it, some of them succeed this way. Let's talk about that, what bitcoin has and what it lacks.

Bitcoin is as simple as it is - it's decentralized, mineable with fixed supply, with some fees, with blockchain. Is it maximum? No, cause...
Bitcoin lacks anonymity and Monero rises here with it Ring Signatures, it creates unique signatures and combine them with old ones, makes it hard to tell who created transaction and Stealth addressing, making it hard to tell the destination of sent Monero.
Bitcoin lacks what Ethereum has - Smart Contracts and DApp platform.
Bitcoin Mining - It turned into commercial business.
There are still some currencies to compare bitcoin with, but I find it very boring and included example of two popular coins, Ethereum and Monero.
So to sum up, bitcoin isn't the current maximum version of cryptocurrencies.

Genemind

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We can deny the fact that Bitcoin has been through a lot and has passed all the tests of time but as for me, it will still be an advantage if it will improve as a digital currency. Creating more features that would make it attract more investors and merchants to be adopted is a huge thing. We still need massive adoption so Bitcoin could grow more and so that more countries will recognize it as a currency.

Ozero

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Of course, bitcoin is not functionally perfect right now; it is already relatively slow and expensive in transactions. Therefore, he must continue to improve. Yes, and nothing should stand still. Everything must develop, otherwise it immediately gets old. This is especially true for technology. Many altcoins even now demonstrate the best functionality and therefore Bitcoin also needs to be improved.

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bitcoin is self-audited, por lo que no depende de un tercero que la mejore. it is the mother of all cryptocurrencies, I really do not believe that one day there is one that steals that position, it would have to be another type of technology that may not work with blockchain.

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Quote from: duke89 on January 22, 2020, 09:15:25 PM

As subject goes, is Bitcoin the maximum version?

Is it still possible to develop it?

or

Can we still expect better coin than Bitcoin?

No, Bitcoin is not the ultimate coin in crypto world. There is a lot of development that it needs. At the moment there are developers who are still working in the background on its development. If you want to know what is happening the doa simple search on google and you will find a lot of articles related to it.

tbterryboy

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Quote from: Eugenar on January 25, 2020, 03:09:40 AM

Quote from: electronicash on January 25, 2020, 02:22:42 AM

its not the ultimate coin but its stable that doesn't need much development.
BTC had been forked many times for its development but there were also development that can work on top of its blockchain like the Lightning Network. quantum computing is a threat to Bitcoin which the team may actually be working to make it quantum proof and because of there may be another fork in the future.

Basically forking bitcoin doesn't really affect bitcoin itself, forking happens because people want more upgrade but unfortunately, they couldn't change the bitcoin itself, but they end up creating new crypto, and if people think that quantum computers, could affect bitcoin and that makes bitcoin need upgrade, probably there is no concrete proof of quantum computers to affect bitcoin blockchain network, so the fear of it for upgrade isn't necessary. I highly consider upgrade for bitcoin should focus on transactions speed.

We already underwent through some fork of bitcoins which gave birth to some new coins. But I do not really think it is important to fork bitcoins. Why are we even creating coins like bitcoins if we have the original bitcoin among us? Bitcoin transactions needs some changes and it must be made more futuristic but changing the entire properties of bitcoins would not really work.

I agree with you that the transaction costs and transaction fees would be something which should be considered by the developers for improvement. Long confirmation time does not make bitcoins to be accepted locally because people cannot really wait for the transaction to get confirmed once they made any purchase offline.

LbtalkL

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Bitcoin is still evolving in previous years they implemented SegWit on the Bitcoin Blockchain making the platform faster and more scalable. I guess they will continue in making bitcoin faster as years passed. Bitcoin lightning network already exists but it is not used frequently on wallets, exchanges and online shops I don't know.

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Can we still expect better coin than Bitcoin?

There is no better coin than bitcoin it is the one true king. Those bitcoin forks claiming to be better than bitcoin are sh*tcoins and copy cats.

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Quote from: Little Mouse on January 22, 2020, 10:49:50 PM

Who said bitcoin is on its maximum development? It's still being developing all time and there are a lot of space to grow for developing.

Quote from: duke89 on January 22, 2020, 09:15:25 PM

Can we still expect better coin than Bitcoin?

If we think about different features of bitcoin with some other existing coin, they are better. You can get a better coin but you can not get the most decentralized coin.

This is why people create alternative coins, they want create something that blockchain doesn't have, but I agree with you there are so many altcoins out there which better than bitcoin but one thing that those coins don't have, yup the decentralized nature.

Yes, both of bitcoin and blockchain still developing and has so many potentials that can be expanded more by the community, you might check the project on the GitHub.

Latviand

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Quote from: Little Mouse on January 22, 2020, 10:49:50 PM

Who said bitcoin is on its maximum development? It's still being developing all time and there are a lot of space to grow for developing.

Quote from: duke89 on January 22, 2020, 09:15:25 PM

Can we still expect better coin than Bitcoin?

If we think about different features of bitcoin with some other existing coin, they are better. You can get a better coin but you can not get the most decentralized coin.

Most of the cryptos are decentralized if I'm not wrong because of the concept of blockchain technology. Bitcoin still is on the process of development despite of its market value at this moment and the community that it have established. Once adaptation became widely implemented, things could go better not only for Bitcoin but also to this industry.There are lot of developments that could make Bitcoin a better crypto, and in general aspect.

Youghoor

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Any technology or system will definitely need an update as time goes on. The bitcoin blockchain technology will definitely need more development considering how the world of technology and invention keeps growing. Bitcoin blockchain technology is an open source technology meaning any developer can have access to the source code of the entire framework of the technology and develop a feature that can enhance the bitcoin blockchain network...

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Quote from: electronicash on January 25, 2020, 02:22:42 AM

its not the ultimate coin but its stable that doesn't need much development.
BTC had been forked many times for its development but there were also development that can work on top of its blockchain like the Lightning Network. quantum computing is a threat to Bitcoin which the team may actually be working to make it quantum proof and because of there may be another fork in the future.

Basically forking bitcoin doesn't really affect bitcoin itself, forking happens because people want more upgrade but unfortunately, they couldn't change the bitcoin itself, but they end up creating new crypto, and if people think that quantum computers, could affect bitcoin and that makes bitcoin need upgrade, probably there is no concrete proof of quantum computers to affect bitcoin blockchain network, so the fear of it for upgrade isn't necessary. I highly consider upgrade for bitcoin should focus on transactions speed.

electronicash

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its not the ultimate coin but its stable that doesn't need much development.
BTC had been forked many times for its development but there were also development that can work on top of its blockchain like the Lightning Network. quantum computing is a threat to Bitcoin which the team may actually be working to make it quantum proof and because of there may be another fork in the future.

Sadlife

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Im sure as time goes by we could realize some features of it but for now. It is the most advanced and innovative technology that is. It's 100 years more advanced than any payment system out there.
I guess the only thing we could do about Bitcoin technology is fixing its issues, for example the market cap 21 million what would happen if it mined it all then the world isn't still ready for BTC ? things like that i guess.

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As Bitcoin is a decentralized bitcoin

I hope you also mean blockchain.

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But it needs to be developed yet and it will develop more in upcoming years.

Sure it will be as we have many back end developers that continues to innovate nor maintain the network. Those unsung heroes of bitcoin innovation.
Who are Bitcoin's Unsung Heroes?

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