Topic: What does bitcoin need to improve? - page 22. (Read 4146 times)

1) It needs to become less volatile.

Too much volatility kills demand; anecdotally, it remains the biggest barrier to adoption (aside from a lack of understanding) that I’ve seen locally.

Of course, volatility will diminish once consumers are actually using Bitcoin more as a currency than a commodity.

“One of the biggest killer apps [to build would be] removing the volatility and currency risk,” Jered Kenna of Tradehill, a B2B Bitcoin exchange for institutional investors, pointed out at Bitcoin London. BitPay is one such app that helps to reduce volatility by increasing adoption, he said, as it helps consumers connect to a variety of merchants who accept the currency.

2) It needs more exchange platforms.

To buffer Bitcoin from the failures of a given exchange platform, it needs to quickly develop more trusted networks, said Erik Vorhees, founder of Coinapult, a secure Bitcoin wallet and merchant service that works to provide Bitcoin liquidity to businesses.

“The most important thing is for the market to become deeper,” he says. “For that to happen, people need to get away from Mt. Gox. Mt. Gox has been the deepest exchange, but every time they come under pressure, they fail. People are scared to leave their money at Mt. Gox, for both operational reasons and because of regulators around the world.”

Mt. Gox has had its share of hacking scandals. Others are building other exchanges that are more trusted, Vorhees explained.

in my opinion, nothing needs to be fixed with bitcoin, It is becoming more and more popular and fair to the public. But I think a revelation of the future bitcoin devs or ceo could bring about changes in legalization or confirmation of future growth. seems to be good for bitcoin and community.

Actually,in my own side,one of the reasons that some bitcoin investors are having a discourage in their mind,because of very high transaction fees collected everytime when doing bitcoin transactions,while the transactions period will take a long time,it become too slowly before it will be done.that some reasons need to improve in bitcoin.

Bitcoin system is so great when it come to have any  transaction method ,because in my country bitcoin wallet are also popular to used at payment method for monthly expenses like electric bill insurance bill or even to buy grocery,but maybe need to improve is not the system but  is to share also  to other people to make also popular about bitcoin and the good opportunity have on bitcoin .

yeah you'll right bitcoin are very good when it comes of the system transaction but it well also long waiting in the time to have transaction in my wallet as payment method like electric bill and water bill if I'm  will not full internet the system of bitcoin are able to have more spend time to wait ,,unlike to comparing the other online system  transaction as payment method,but despite  of bitcoin have negative impact sometimes when it used it as payment system of my wallet,,still I Trust to bitcoin that will have a wonderful future ..

Bitcoin are now useful to all the people out there it helps us to do transactions and gives us income. For me bitcoin are now useful but it makes  more useful and convenient lf the system will be more improved and developed like the transaction fees and speed make it more affordable and faster. Then make it more secured because hackers and scammers are everywhere trying to break down your accounts.

New cryptocurrencies and their appearance on the market is a natural process, and to strengthen bitcoin, it is likely that you need to improve the overall financial situation and revive the market.

Bitcoin's transaction fee is too much...so, In my opinion it should be improve. This improment will attract people to invest in btc.

what Bitcoin, or any virtual currency, needs most of all are startups. Without an ecosystem of startups developing products to help foster its adoption and use, a virtual currency will not flourish. So it needs startups.

I think the security and function of bitcoin if it is increased and expanded to become more widespread will increase the number of investors as well as new users. For example everything that is in everyday life can be purchased using bitcoin. The bitcoin system also needs to be upgraded in order to be accepted by the merchant.

In my opinion, bitcoins weak points are the slow transfer rate and the very expensive transaction fee. These problems should be addressed and fixed first to keep bitcoins on the throne of cryptocurrencies. But I think there's no way to make ammends with these problems.

I think for me there are still needs to improve like lowering the transactions fees and making the confirmation more faster, but I doubt this can be improve now, is there any chance to improve it? All in all I am liking how bitcoin is doing now.

Well the only problem that I have faced using bitcoins was it's high transactions fees and slow confirmation but as segwit and soon coming lightning network bitcoins will have low fees and high transactions speed.If ways can be found for mining as fixed in terms of advantages and functions but to reduce energy consumption then it will be a big improvement.

I think bitcoin need to improve is that the transaction here because some of the worker here saw that the transaction in bitcoin is slow than other currency. The changes of price is another thing for me that need to improve because the price of it is unexpectedly.

Well the only problem that I have faced using bitcoins was it's high transactions fees and slow confirmation but as segwit and soon coming lightning network bitcoins will have low fees and high transactions speed.Devs are already working on Lightning Network, but with Schnorr multisig is handled like a regular signature, which make transactions more secure.

Bitcoin needs to improve the time for completing the confirmation so the transaction doesn't need to wait for a long time.As a small trader for me transaction fee will be the problem in every transaction i can made. My profit will getting more low.

Bitcoin needs fast and cheap transactions. To improve the speed of transactions and make them less expensive and even secure, we'll soon have Schnorr. Devs are already working on Lightning Network, but with Schnorr multisig is handled like a regular signature, which make transactions more secure.

Bitcoin as a coin needs more people with strong hands, the weak hands are the ones that are ruining it for everyone else because they just sell at every opportunity that comes their way. Also bitcoin needs faster transaction times and lower fees, we need to be able to be sure in the fact that if transaction volumes increase, that the transaction fees will not increase neither will the transaction times take longer like it did in january. This is why the lightening network is so important

The transaction speed was not rely on the bitcoin but on the person who need to accept many confirmation first. But surely when the transaction speed developed and become faster,  it will be more easier for us to transfer our money to other people. And what we need to do is to do our job here.

Actually, bitcoin doesnt do advertisement, it just those people who was using it. Aside from that even bitcoin was not that expose to media, it still become popular because of its characteristic and usage. I think what bitcoin needs to improve was its accessibility and the transaction fee.