Topic: What does bitcoin need to improve? - page 63. (Read 4146 times)

Lightning Network and Segwit adoption is already progressing well in the background so my honest opinion is that nothing else should be improved with BTC. The issues that we experienced in the past are now being addressed by those two technologies and those will provide great leaps regarding BTC's advancement in the future. What we need to do is to be patient and help spread the word to the community about the benefits that we could get from LN and Segwit (by using Segwit address). Most important is to stop disseminating false information regarding BTC. Stop the hate and stop the FUD.  

We are getting there. Slowly but surely.  

As of today the process of payment on bitcoin, its congested, so if they could make it transactions a little bit faster, it's like people are transferring to ETH because of this, and one more thing is the price.... Hahaha can someone make the price change to good side.

I think if bitcoin is not fixed then it does not matter because bitcoin is so popular and popular and a king in crypto currency and is in great demand by community, users, investors and even Bitcoin can be taken for granted.

yes. low transaction fees and high transaction speed are what we need most. many people find it difficult to send their  bitcoins because high transaction fees. should transaction fees remain low even as bitcoin prices increase.

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.I know that there are some coins which have no fees and are instant but I don't think so that they can handle the traffic which bitcoins handles.Bitcoins getting regulated by the government can be good for bitcoins as it would show green light to all the investors who were scared  to invest in bitcoins because many people thought and media spread alot that bitcoins are illegal and all negative things.

Dethrone? Nah.

Just like every coin or token that will be created out there, new or old there will dents in it.
Who can create a perfect one?
Ethereum made a mess just recently. Litecoin is also good but needs improvements.
They are all the same with bitcoin but just cant get above it.
Fees and faster transaction is a big deal and it really needs some changes. But have you ever thought where this other coins will be without bitcoin? 

I like how Bitcoin is, I can't think about any other necessary improvement besides transactions fee costs at this moment.

It's more about what shouldn't be "improved" than what should be improved, considering some people believe any Bitcoin's legalization and regulations are improvements...

It already is continually evolving.

Entire altcoin market is speculation on unproven assets. There are 1500+ altcoins and every single one of them is vaporware. As long as Bitcoin keeps evolving, every other coin will be shown up for being worthless when the bubble bursts and Bitcoin will rise from the Ashes.

the problem for bitcoin now is high fees and i hope it will resolve soon as lightning network will launch in this year.
it will be biggest year for bitcoin.

The biggest problems with Bitcoin right now are the high fees and slow transaction times. Back a few years ago, everyone talked about the benefits of Bitcoin:

1) Send money anywhere almost instantly and almost free

2) Store of value

3) Payment method that has almost no fee.

Now Bitcoin is basically a store of value. This may be all isxneeds to be, and it is possible that improvements like the lightning network and atomic swaps can fix those other issue.

I know huh, that’s really fucking slow and costs a lot.

Banks

CBA  Commonwealth: 2 to 5 days $50+
ANZ: 2 days $35+
Westpac: 3-7 days $25-$75
NAB: 3 days $45

Specialists

OFX : 1 to 3 days they want a percentage of your money
Transferwise: 3 to 5 days they want a percentage of your money
HiFX: 3 to 5 days they want a percentage of your money

Other

Paypal - 1 - 2 days they want a percentage of your money
Western Union: 3 days for above $5k they want a percentage of your money

I think it would be much better if the fees were not so high and the time for one transaction is so long. This affects people who use it for payments and not just for trading. 

Bitcoin need to be advertise more in order to attract more people. As of now, there were many ways it was advertise but I think is not yet enough. They should exert more effort to do it.

I think we need to find out the way to improve Bitcoin transaction speed. For these days we need to wait about 30 minutes or maybe more than that to receive enough 6 confirm to complete a Bitcoin transaction, I think it's really long. Although there are so many transaction accelerate service but they're not really good and sometime it doesn't work. Hope that we will never having to see thousands Bitcoin transaction stuck or pending for too long anymore

I think the main improvements needs for Bitcoin " Transaction fee should be reduced and faster transaction needs too. Some days ago, I withdraw bitcoin from Master node exchanger site and still, I haven't received my bitcoin. So, bitcoin needs a faster transaction.

That’s a very subjective question. It all depends on what you want bitcoin to be.

Do you want it to be an easy way to send money to people without a nanny (bank) looking over your shoulder, analyzing everything you do and sending a report to the government about your actions? Would you like to be able to send money around the world without paying an oppressive dictatorship (bank) for the privilege of doing it? Then don’t change anything because bitcoin already does that.

Are you more interested in atomic swaps between cryptocurrencies? Then you need to support Lightning network development.

Do you primarily want bitcoin to be a vehicle for enhanced features like decentralized crowdfunding and distributed exchanges? Then you need to support projects like Omni Layer.

Do you have one specific requirement for your cryptocurrency like buying illegal drugs, guns, supporting terrorists, secretly paying prostitutes? Then you need to drop bitcoin and support altcoins like Monero.

Are you in love with your bank, your government and hate decentralization? Would you really like to modernize the banking system and help them speed up the oversight of your pathetic little life? Then you need to support Ripple.

Bitcoin can work for its originally intended purpose right now without any “improvements”.

Have you been living under a rock for the past two years, a new user of bitcoin or you genuinely do not know the true state of Bitcoin's major problems? If Bitcoin's issues are not resolved on time so that mass adoption can take place, it will simply lose dominance and become obsolete while a more usable altcoin takes over.

Bitcoin needs to improve its smart contract flexibility, scalability and privacy. And this could be done bythe promising innovation enabled by “SegWit” called MAST, which stands for Merkelized Abstract Syntax Trees.

MAST extends smart contract flexibility because it has no limit.

MAST improves scalability. It reduces the amount of data that must be transmitted, validated and stored by all nodes on the network.

MAST improves privacy, again by the virtue of keeping unused scripts hidden forever.

https://bitcoinmagazine.com/articles/the-next-step-to-improve-bitcoin-s-flexibility-scalability-and-privacy-is-called-mast-1476388597/

The most simple of things to improve upon are transaction time and transaction cost. Bitcoin at best is usable for large transactions (still debatable) it is in no way suitable for micro transactions right now. If it can ever get confirmation times right down and fees to be cents or less then the use cases will increase ten-fold.

Other areas bitcoin can improve upon are the energy requirements used to mine bitcoin, it will always be a sticking point for many and something to attack bitcoin over. If a way can be found for mining to remain as is in terms of profit and function but to greatly reduce energy consumption then that would be a big improvement.

Demand is what Bitcoin needs. If there's less coins on the market then there would be an expensive barter for it.