Topic: What does bitcoin need to improve? - page 46. (Read 4146 times)
Bitcoin or any altcoin that wants to succeed and keep up with the times must evolve! Stop, you are backward! Bitcoin can be replaced by altcoin but development is inevitable!
maybe bitcoin need to improve the time for completing the confirmation so the transaction doesn't need to wait for a long time and besides that, I think the fee needs to reduce too. but I don't think that it would be easier to do because I think there will need many things before this is already happening and we can send the transaction and it's complete in just a minute or so.
Of course, other coins are already close to bitcoin. Some altcoins have fast transactions some coins are anonymous. It is too early to say that someone will shift bitcoin from the first place, but everything can be in a few years.
First of all, the need to rush is the efficiency of transactions, which often encounter the problem of network congestion at rush hour. Sometimes it takes several hours to complete the transfer.
The core innovation of Bitcoin is distributed consensus building. However, most of the potential use cases that would benefit from a ledger of this sort (i.e. contracts) are not particularly easy to build on top of Bitcoin. This is what has prompted the development of so-called DAC layer apps, both metacoins and Ethereum.
BTC, firstly, needs to become an official asset, like gold.
Banks apply BTC to storage = next stage in BTC`s growth. Crypto industry should become more official and then we `ll see the whole increase of market
Banks apply BTC to storage = next stage in BTC`s growth. Crypto industry should become more official and then we `ll see the whole increase of market
Currently the network is topping out at about 450,000 Confirmed Transactions Per Day or 5 transactions a per second. (some websites report higher figures for the tps but this is the average over a day)
Visa can handle around 2000 transactions per second.
What I would do if I was the almighty supreme Bitcoin overlord would be to decrease the block time from 10 minutes down to 1 minute.
Also reduce the block reward by a factor of 10 to keep the coin supply rate exactly the same.
I would then increase the block size to 2 MB or 4MB.
That would still only give the network about 100 - 200 Transactions per second but it would probably be enough to tide the network over for a couple of years atleast.
That should be enough time to get the Lightning networks and atomic swaps up and running.
If you combine Lightning network with atomic swaps you would essentially come up with a kind of chain lightning that could go across block-chains as needed in times of network stress (such as we just had).
Unfortunately a plan as radical as this would never be accepted by the miners nor the community and so it will remain in fantasy land until the network grinds to a slow crawl for a few weeks.. then someone might be bold enough to do something about the problem.
One can only dream.
Visa can handle around 2000 transactions per second.
What I would do if I was the almighty supreme Bitcoin overlord would be to decrease the block time from 10 minutes down to 1 minute.
Also reduce the block reward by a factor of 10 to keep the coin supply rate exactly the same.
I would then increase the block size to 2 MB or 4MB.
That would still only give the network about 100 - 200 Transactions per second but it would probably be enough to tide the network over for a couple of years atleast.
That should be enough time to get the Lightning networks and atomic swaps up and running.
If you combine Lightning network with atomic swaps you would essentially come up with a kind of chain lightning that could go across block-chains as needed in times of network stress (such as we just had).
Unfortunately a plan as radical as this would never be accepted by the miners nor the community and so it will remain in fantasy land until the network grinds to a slow crawl for a few weeks.. then someone might be bold enough to do something about the problem.
One can only dream.
if only they could fix the transaction to a cheaper one so that they could pay for online purchases with a minimum Commission..but.. fairy tale this all)
which bitcoin needs to be upgraded in my opinion better in wallet security, transactions, and have a guaranteed profit on development so can depress the negative side in people's view if they want to invest in bitcoin no doubt
I think that bitcoin has a lot to raise, starting with transaction handling, is a currency that is limited to about 3-4 transactions per second, and more than that will only cause the entire system to be flooded with users, but the problem applies to all cryptocurrency types, You do not see it in other currencies because only bitcoins are getting a lot of traffic.
Bitcoin continues to control the cryptocurrency market because it has become the first cryptocurrency, it has the greatest amount of support and has been shown to have a stable system for a long time.
Most altcoins come out in 2016+, even if they manage to get a lot of value, they still can not get past bitcoin because they do not have bitcoin support.
I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
There are certain manageable things that bitcoin needs to improve such as the transaction speed, transaction fee, and so on but the high volatility of bitcoin is something that a lot of people in the bitcoin industry wanted to be solved. However, the current technology available is not enough to solve this issue. Maybe in the near future this high volatility rate will be solved. 
For me bitcoin transaction time and fee are very high compared to other alt coins, so there should be an improvement on that side.
Yes the Bitcoin transaction time is needed to be improved because there were time that it took longer. Also, the current is not ideal, it is also needed to be improved to be more stable. 
For me bitcoin transaction time and fee are very high compared to other alt coins, so there should be an improvement on that side.
transaction bitcoin high because of the scalability of blockchain bitcoin owned is too full by transactions that occur every second. consequently there is swelling in each side of the network, so the transaction costs incurred larger to reduce transaction traffic. 
for me, i think that the bitcoin need to improve is the card that we can also use anytime in atm machine, whereas if we have no internet connection we can withdraw our crypto currency easily.
It is hard to tell, but I think that nothing major can be done. Bitcoin is and will be in the near future № 1 cryptocurrency in the world.
Improved transaction speed and transaction fees would otherwise be dropped
to stay the king of crypto for near few years and grow up, maybe in some part to make quicker transactions will be cool
I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
In my own opinion, the things that bitcoin need to improve is the time that the transaction happens. We need a fast transaction in bitcoin. Another is the transaction fees. For me, the transaction fees in bitcoin are high. I think the security also but just a little bit.
Bitcoin need to work on their scalability and fees. The time to complete a transaction in bitcoin is everlastingly long. We have new coins that transact with the speed of light and very cheap too. Let the developers work on it.
I think bitcoin should be more simple to use so many other people can come here.
For me bitcoin transaction time and fee are very high compared to other alt coins, so there should be an improvement on that side.
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