Topic: What do you think Bitcoin has some limitations and should improve Bitcoin more? (Read 379 times)

Yes, everyone has limitation but its not a matter coz bitcoin is absolutely all that have we need in crypto all its need is to improve what it has,bitcoin popularity was going crazy now because many county now was looking forward for what and recognizing the goods of it so its kind of giving motive of it.

LN is not bitcoin

the future concept of LN is this
people deposit funds into LN factory vaults(bank2.0 counterparts) using 1 onchain tx fee (call it a memebership fee)

the factory having 50% control, of funds then offchain hands out 'channels' with balance measured in a pegged token called Msats
these channels are not the signed broadcastable bitcoin cltv. but instead LN HTLC's.
the factories become the collectors/arbitraters of closing sessions where they receive a closing channe request and they just hand out a new opening channels with new balances for who was owed what

to actually exit LN back to bitcoin you end up paying the onchain tx fee (call it a membership cancelation fee)

how this affects bitcoin onchain.
yes less tx's per block.. but this means less people actually using BITCOIN
yes less tx's fee's to pay monthly if you factory membership for a year but this means less people actually using BITCOIN

because factories are the managers/arbitrators, people dont need to full node bitcoin. they just need to server API their factory bcause they know they put a 1 year lock+ on their funds.. yes that means people can just phone app LN. but that means less people full noding BITCOIN

bitcoin network due to less full nodes becomes less secure. innovation of bitcoin dies because no one is really relaying/fullnoding daily. and pools drop hashpower to cope with their income vs electric costs

..
in short if its gonna cost $20 to make a onchain TX fee, yea people will run off to a new network of cheaper fee's. we already see in third world countries that many use altcoins because a 25cent bitcoin fee is like 5 hours labour. how many americans would use paypal if it was $20 to sign up and another $20 cancel account
..

LN is not bitcoins salvation.
at very most its a niche side network offchain for spammer transactors. much like services like coinbase and what was bitinstant offered to allow offchain arbitraging and user to user swaps

..
LN's business model is to follow the same business model of banking 1700-1950's. hoard the gold, let people play with IOU's and make people prefer to exit the system with less precious assets(cheap fee altcoins)

What a load of ....

Actually, from last October the difficulty was down, making it less hard to mine blocks!
The whole chain can still work even if there is only one miner with an 133Mhz pentium mining.


If an s9 is giving you 2 cents per hour profit, two s9 won't give you 5 cents per hour.
You're maybe trying to talk about the return of investment and profit.


Fees won't go up just because miners want so.
If there is nobody willing to move bitcoins the block will be empty and 1sat/b will go in the first mined block.

Bitcoin mining becomes harder and harder each time a new block is mined. This means it takes more time and more money invested by a company to be able to continue mining at the same performance. It's obviously for transaction fees to keep increase since that's how miners earn their profits.

Btc as an online asset is a necessity. It isn't perfect and it couldn't reach our expectations. Just like fiat, it's capability has a limit though your idea would also be a big help.
If there will be a massive adoption, thing like this will be easier for Bitcoin to achieve.

Everything have a limitation and as of now we couldn't really use Bitcoin or crypto offline .
I don't really think that we could do it since the transaction would need to be online to be successful.
And there are also ton's of things that Bitcoin is limited like it's supply and where to spend it of course we couldn't use or spend it anywhere we like.

There are a lot of limitations Bitcoin has to face, for the starters Bitcoin transactions take time whereas the banking system and other facilities have instant transactions. And Bitcoin transaction fees are also higher right now let's see what we can get from the lightning network and further implementation of it but Bitcoin has to go a lot of evolution before normal humans are going to use it in their daily life but for now, I like to use Bitcoin for my webpages.

Pursuer already said it, that's not up to Bitcoin, it's more up to us.
But secondary, the numbers of countries adopting legislation will start to slowly die down, most advanced ones have already set up some kind of guidelines, what is left are 3rd world countries and those are still lagging behind things we consider normal a decade ago in Europe, for them to adopt stuff related to crypto in the coming years is quite the  stretch.



For me, the LN is currently the weak point.
Already Bitcoin was looked upon as complicated, trying to push LN at this stage to the average Joe is a bit too early.
Also, there is one tiny problem currently with LN, you still need to open and close channels and if you don't have enough places to spend them in the network opening and closing channels will happen a lot more often, not taking enough tx from the chain and still taking a bit of space in the blocks.

I hope the LN won't be one of those things that never got adopted because they were too far ahead of their time.

.the invention of Bitcoin is somehow comes to a trial and error ways,,but as days passed by,,no one knows that Bitcoin will become just like perfect as what it is right now,,all though there are lots of struggles bitcoins have suffered,,still it exist,,and we all know that Bitcoin have gone so far,,if there are anything needs to be improve,,maybe minor bugs to be fix,,but i think bitcoin is now the supreme crypto currency and we,all the people in the universe should accept and adopt the use of Bitcoins in our daily lives..

true but that is not a "bitcoin limitation" which is what OP is asking about. the fact that some countries are hostile towards bitcoin is about the government and the world's restrictions which exists in all aspects of the world not just bitcoin.
in fact this can be considered one of bitcoin's most powerful features called censorship resistance because even though some governments limit bitcoin or even in some rare cases ban it they can not prevent people from using it.

Thank you for your valuable feedback. And yes, I will definitely try to increase my English skills. Thank you once again for giving you valuable comments. Hopefully, your valuable comments will help me stay away from future conflicts.

Even if countries are not legalizing BTC or any other cryptocurrency for that matter, they are regulating them instead of completely banning them which is alright in my books since this is the next best thing in my opinion.

The legal issues will always exist and controversies will always surround BTC, but this is the case with other currencies like FIAT too. We need to focus on improving adoption rates through whatever means necessary.

@pakhitheboss explained the technical aspects:


But, we still have another big problem, the laws of each country that are not conforming to the crypto world. The years go by and few or no country legalize bitcoin, in that part is as if we had stopped in time because the legal issues are not bringing any good result

what do you mean by "offline advances"? is it the offline aka cold storage? in which case there is no "advances" needed in that front, it is pretty good already.

but if you mean the adoption by offline aka physical stores then that is not something that bitcoin can change. it is something that only time can change because adoption takes time and it is people's choice not something the bitcoin as a currency can enforce.

Having a high transaction fee is one of the most problems I encountered. It's just sad especially when the price of Bitcoin is soaring, then more transactions are created. As far as I know, Bitcoin lightning node solved this kind of problem. But how about those who don't use bitcoin lightning node?
Lesser transaction fee should be improved on Bitcoin, I know it's kinda difficult but that's the only thing I concerned.

There are still many things that should need to be fix in bitcoin but it can be really use now without having a problem. The security of bitcoin is amazing and I think that is the only thing that don't need improvement in bitcoin. Being use offline of bitcoin can be the perfection of it and for sure a lot of countries are going to take bitcoin or other cryptocurrency more seriously.
Bitcoin still has its room for improvement.

The next bullrun will be a great test to the Bitcoin LN . Let's see it it can handle the huge volume in the coming months. The transaction fees will also be a huge factor here.

Dude,you should definitely improve your english.Are you using Google Translate or something?
WTF?What can I accomplish by promotng btc online and offline?Umm...Nothing.
Bitcoin has some limitations that embedded at it's core (limited supply,limited blocksize,mining difficulty,etc.)and removing them might be a bad move.

I agree with this. Bitcoin is far from perfect but it is evolving and will continue through the years. Just 10 years is not enough for a decentralized network like bitcoin to be the best there is...there will always be room for improvements. Scalability, speed and effective usability in micro-transactions are very important areas that need innovations that is why there is a continuous study, experiments and discussions along this line. We should also have the capacity to use bitcoin even if offline...soon this can be a big reality too. We just have to wait, have some patience and always support it all the way. Bitcoin is the future and that future looks very bright though on the road there will always be bumps.

That is the main deal we need to improve,bitcoins being use offline.If we want bitcoin to be implemented as our currency that can be use as payment methods then we should find a way to improve/use bitcoin offline for payments.Maybe a credit card will do the job or many possible ways peple can find out in the future.Bitcoin stilll has limitation just like everything in our world right now