Topic: What does bitcoin need to improve? - page 60. (Read 4146 times)

Fast transactions in the crypto world was the major theme, behind launch of blockchain technology. May everything remain positive from all sides.

Transaction fee and transaction speed are main problems of BTC if considering it as payment tool. Concerning security - BTC wallets are rather strong

The currency issue of the existing bitcoin system USES a simple linear halving strategy, but the individual thinks it is not optimal. First, when 2140 years later, the new COINS are no longer produced, if productivity still get continuous development, the supply will be more and more, and the currency in circulation is constant, so the introduction of a new product, is bound to have some existing prices need to fall, to set aside a medium of exchange, which will cause deflation; Can be found in the second, from the observation, COINS, as more and more media reported more and more people to join the currency market, the effective demand of the currency in the mounting, and obtain the currency only two ways: mining or through exchange bought with fiat. The current mining difficulties of bitcoins have made ordinary cpus and graphics CARDS far from the top, so buying them is a major step in acquiring bitcoin. This has led to a rising exchange rate for bitcoins. And has a first mover advantage has a lot of COINS, in the face of rising prices, and has rised and the hoarding of psychological, it is further pushed up the currency price, also caused a decrease in the number of COINS for trading, and into a vicious cycle, liquidity caused serious influence on the currency. And the speculators saw this nature of bitcoin, and they joined in, causing huge fluctuations in the exchange price of bitcoin, which caused a serious impact on the bitcoin ecosystem.

Therefore, the newly designed currency should avoid these situations. First of all, to dig, the new currency should be able to attract enough of the people involved, and avoid meaningless intensified mining arms race, which need to change during the mining distribution mechanism. The occurrence of the mining machine should be avoided, even the participation of GPU should be avoided. A mining algorithm based on the equipment and CPU owned by most computer owners ensures sufficient participation. Dig A new currency still should follow the principle of proof - of - work, just dig out the distribution of A new currency, should put all participants shall be carried out in accordance with the contribution amount tech-oriented sorting, according to different section of the contribution period of average income of the realization of mining, similar to exam 90 points have A evaluation. The segmentation can be divided into the top 5%, the first 5% to 20%, the first 20% to 50%, which can effectively avoid the mining arms race, so that more people have the opportunity to participate in it, thus promoting the circulation and development of the new currency.

I think the promotion of Bitcoin is not enough. If possible, we can start from this aspect and increase the promotion of Bitcoin so that more people can understand Bitcoin.

In order to improve Bitcoin the benefits of Bitcoin will be presented in front of everyone.More about Bitcoin campaigning. Some countries consider Bitcoin illegal transactions.So Bitcoin authorities should talk about the legitimacy with those countries.

I also do not like the speed of confirmation of transactions and their price. We saw this flaw when the price of bitcoin was $ 20,000. Can you imagine what the price will be for the transaction if the price of bitcoin is 50K-100k. But there is still the problem of the inability to withdraw your payment if the store sent you a defective product or did not send you anything. Now this is not very important because most stores do not accept bitcoin for payment. But we need to prepare for this now.

Nowadays it is quite low, and yesterday one of my transactions got confirmed in 20 minutes after paying a fee of just 1 Sat/Byte. However, I am not sure whether these low rates will remain for the medium-term future.

It seems like things that need to be fixed by bitcoin is the speed and cost of the transaction. Bitcoin must be able to compete with another crypto so as not to lose enthusiasts because the day is sure developers always improve the technology to satisfy the users. Let alone another crypto now offer cheaper transaction cost than bitcoin. Even so, bitcoin is still the main crypto for cryptocurrency enthusiasts because bitcoin is the first crypto to be the reference for another crypto.

Bitcoin is good but it's not perfect, it will never be because there are many different opinion what was the original vision of Satoshi Nakamoto. Recently, the biggest problem were fees which were extremely high. Fortunately it looks like this problem is solved for now. SegWit adoption is rising, Lightning Network is almost there. I think that we should focus now on making transactions smaller and more anonymous. Right now everyone can see where we send our bitcoins and how much of them. That is why it is important not to connect your address with you identity.

expanding the size of blocks, since charges will hypothetically rise less rapidly as the block size increments. In any case, bitcoin is not any more the main child on the crypto square; it is confronting rivalry, specifically from Ethereum, another sort of blockchain. It was propelled just two or three years prior, and has developed quick. It has likewise offered ascend to an influx of "Initial coin offerings" (ICOs), a novel method for crowdfunding.

In my opinion, I think we should focus on Bitcoin as a payment system and not as a speculative instrument. Unfortunately when someone enters into Bitcoin in most of the cases he look for the profit through speculative gains but I think that it should be the second priority because the core principle of Bitcoins states that it is a payment system having some benefits as compared to that of traditional payment system so we should focus on gaining benefits out of that factor because it is something that is having a long-lasting impact.

Bitcoin will still on his throne until this very moment because  of continuous improvement  that’s why people  still  patronizing bitcoin because of its characteristics which  is  anonymous in nature, decentralized and P2P the thing  that I think should  be done  in order  to make bitcoin still number one in crypto currency world it should be technology continuous improvements.

Segwit has already improved Bitcoin vastly, and Lightning is soon on its way. With those two upgrades out of the way, I would like to see an improvement in the privacy area. Being semi-anon is great but having the ability to be full anonymous with Bitcoin would be ultra wicked to say the least.

Yes there are coins that's much cheaper fee and fast transaction than bitcoin but we can't remove the fact that despite will all of these bitcoin still dominates the crypto world. On the other hand, bitcoin transaction now is much more faster than before, maybe because of the segwit2x that already in the system. But aside from what had mention above there's nothing to be improve as of the moment.

That is not the problem with bitcoins, it is because of some governments not being able to understand the concept of bitcoins. They think that most of the people are using it for illegal activities or it is some kind of ponzi scheme. There had been so many similar scam online that these governments fear lots of its citizens losing all their money in bitcoins as well. We as investors, should create proper awareness about bitcoins like how it works and what are its benefits. If we are able to create some interest in the mind of politicians, they might start learning about bitcoins.

I think Bitcoin just upgraded the processing level of the transaction. Currently, Bitcoin does not need to upgrade anything because it has met the needs of all traders. Bitcoin is used as a common currency to exchange other Altcoins.

In the past months that I am learning bitcoin, the biggest problem that I encounter is the high transaction fees and the slow transaction speed. When the time that they introduce segwit to us, the problems are slowly to be solved. Now the fees of bitcoin is low compare to its fees in the past months and because its fees are low now, we can make a fast transaction so it makes the transaction faster.

Now, the only thing that bitcoin needs to improve is its adoption and promotion. Some countries banned bitcoin and some cannot adopt bitcoin because it is very risky compare to fiat currency and we need to accept that. I wish in the future, many countries will use bitcoin as another way of transaction or payment especially online.

Regarding to promotion, yes there are many who promotes bitcoin online especially in the social media platforms but what do they promoting? In my experience they are sharing referral links to others to gain money. Why don't we encourage other people to adopt bitcoin? Lets encourage them to learn about bitcoin or cryptocurrency as a whole.

transaction fees are high... also transaction time is high than other currency.These need too be improve.  because of that people not using bitcoin and reduce the dependency on bitcoin. Results in stabilize the price of bitcoin.

          Bitcoin is the best digital coin in crypto market. It is the famous and most trusted coin ever. But i think there is need more improvement on it in terms of transaction and transaction fees. Bitcoin transaction now is verry low and the transaction fees are too high. I think it is need to improve to have a fast transaction and low fees for much better bitcoin someday.

This is a natural response of the users of coins. Human as we are we often need or seek for something better. Others get contented and stick to the known ways while others choose to venture into something new. This behavior is inevitable. This is what we are. So what does it need to improve? Many just to satisfy a person. Can we pull each coin holder to stick to bitcoin no matter how good it is? No. this is just what we are. We have different ideas, we never settle for anything better, we seek the best such that we jump from one option to another.