What does the cryptocurrency industry need? - page 4.

Ethan_Locke

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Quote from: Taskford on June 25, 2017, 10:38:35 PM

Quote from: Ethan_Locke on June 25, 2017, 05:01:50 PM

Quote from: The Sceptical Chymist on June 25, 2017, 04:48:36 PM

Quote from: Ethan_Locke on June 25, 2017, 04:24:37 PM

daydreaming as normal thinking about the crypto industry

Lol, nice to see such passion for crypto--but you might want to be careful where you're doing such daydreaming.

Merchant acceptance is one thing crypto needs. Mainstream acceptance. Lower fees, shorter confirmation times. All of this is for bitcoin, of course. Other cryptos need the acceptance part of it. More integrity among the users, as this crazy crypto world is full of shitbag scammers and other knaves. That's about all I can think of. Glad to see this passion--this is why crypto isn't going to die anytime soon. The younger generation will carry the whole thing forward.

Thank you, im obsessed! Okay, do you think that this is something that SegWit2x will help with, things like the lower fee's and shorter confirmation times, if the block sizes are made larger? Can we expect to see large short term user increase if this is pulled off correctly?

Yes I think so.
That's why there's segwit2x to correct all the problems that currently facing of the block chain as well as the users.

I think we need some awareness to the public. What is bitcoin and how does it works.
In that case, they will be more curious and the adoption of many will not just be a daydream.

Yeah I agree, as we've seen over the past few months there has been a large increase in the number of "trader awareness" which has caused its pikes and dumps but not so much for the public. I think further usage from individuals in the public could lead to a more stable coin also.

Ethan_Locke

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Quote from: DOGE12321 on June 25, 2017, 10:35:21 PM

This industry is definitely growing, and growing fast. But we have many problems such as the scaling issue, massive mempools, huge transaction fees and large confirmation times. We need to get rid of these issues so that Bitcoin will be truly successful. Moreover, Bitcoin needs to achieve mainstream media attention. Only then will many people become aware of this revolutionary technology. When this happens, Bitcoin price will soar and that is great for the Bitcoin community.

What do you think it will take for Bitcoin to achieve mainstream media attention? Who will this come from? Businesses?

Ethan_Locke

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Quote from: Natalia_Volkova on June 26, 2017, 01:39:21 AM

In my opinion, the criptocurrency industry needs more security. In particular, there are still many cryptocurrency thefts and the attackers are not punished.

Can you give me an example of this? Are you sure you mean theft or are we more so talking about ICO releases that turn out to be scams? I think its pretty hard to steal VC providing its kept correctly.

Ethan_Locke

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Quote from: Nevis on June 25, 2017, 09:56:46 PM

Cryptocurrencies specially bitcoins really needs an system upgrade and expansion i think because of old network codes and technology bitcoins face some problems right now and they need to resolve it i think before it will cause chaos

What exact problems can you see other than the lack of nodes, cost and transaction congestion? Is it the old network nodes or a lack of nodes?

Prodigan786

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I am recently doing research and trying to understand ERC20 tokens and its functionality and how to exchange and I am in half way of understanding the transformation from crypto currency to crypto assets is really awesome.

Natalia_Volkova

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In my opinion, the criptocurrency industry needs more security. In particular, there are still many cryptocurrency thefts and the attackers are not punished.

buwaytress

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Re: Innovation, especially franky1's elaboration. I really think that Bitcoin as the first mover, was a really innovative idea in the first place but agree that it has been extremely slow to innovate on some features that would drastically increase usability. And yes, while technological updates such as Segwit may (and should) take its course in time and deliberation, like those mentioned (GUI hardware wallets, a simpler, more intuitive way to send and receive).

What little research has been done on the user base has shown that people who don't use crypto are intimidated by simple things like:
- how can I ever remember to keep my own address or private keys when I can't remember my 6-digit email password? Write it down somewhere? But my IT guy says I shouldn't write my passwords down!

ilovefeetsmell

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Unlike traditional currency, determining the value of cryptocurrency and electronic cash is a bit tricky. Cryptocurrency needs people will be used it. How to manage the cryptocurrency if no one could distribute it. It is normal to fail in creating such cryptocurrency but sometimes it will be successful if you are determined and have a goal in life. That's all the things I can sight in the near future.

adzino

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Quote from: Ethan_Locke on June 25, 2017, 04:24:37 PM

So I was in my car earlier, daydreaming as normal thinking about the crypto industry and how fast it is moving, how its user base in general is growing and the new and upcoming technologies are hard to keep a track of. So I wanted to create this thread for us all to share our wildest innovations and ideas because I thought it would be an interesting read for many, im quite new to the industry as a whole and want to understand both the scope of it over the period over the next few decades, what is possible? Where is this all going? Whats your wildest most imaginative idea on what this industry is capable of? What do you think needs to improve? How can it be improved? What problems do you see that need to be solved?

Excited to hear your responses

Bitcoin and other crypto currencies might take over the traditional currency system but won't be replacing them. Currently more people needs to know about bitcoin and be able to use them. More merchants should be accepting bitcoins. Bitcoins do have some flaws which needs to be fixed and the devs are actually working to fix those flaws.

Taskford

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Quote from: Ethan_Locke on June 25, 2017, 05:01:50 PM

Quote from: The Sceptical Chymist on June 25, 2017, 04:48:36 PM

Quote from: Ethan_Locke on June 25, 2017, 04:24:37 PM

daydreaming as normal thinking about the crypto industry

Lol, nice to see such passion for crypto--but you might want to be careful where you're doing such daydreaming.

Merchant acceptance is one thing crypto needs. Mainstream acceptance. Lower fees, shorter confirmation times. All of this is for bitcoin, of course. Other cryptos need the acceptance part of it. More integrity among the users, as this crazy crypto world is full of shitbag scammers and other knaves. That's about all I can think of. Glad to see this passion--this is why crypto isn't going to die anytime soon. The younger generation will carry the whole thing forward.

Thank you, im obsessed! Okay, do you think that this is something that SegWit2x will help with, things like the lower fee's and shorter confirmation times, if the block sizes are made larger? Can we expect to see large short term user increase if this is pulled off correctly?

Yes I think so.
That's why there's segwit2x to correct all the problems that currently facing of the block chain as well as the users.

I think we need some awareness to the public. What is bitcoin and how does it works.
In that case, they will be more curious and the adoption of many will not just be a daydream.

DOGE12321

sr. member

Activity: 378

Merit: 250

This industry is definitely growing, and growing fast. But we have many problems such as the scaling issue, massive mempools, huge transaction fees and large confirmation times. We need to get rid of these issues so that Bitcoin will be truly successful. Moreover, Bitcoin needs to achieve mainstream media attention. Only then will many people become aware of this revolutionary technology. When this happens, Bitcoin price will soar and that is great for the Bitcoin community.

pooya87

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Quote from: Fioraver on June 25, 2017, 10:04:54 PM

they need Merchant support.
Only Merchant accepted cryptocurrency, people will use cryptocurrency.

i think it is a little like the chicken or the egg dilemma!
people need to first want to spend cryptocurrencies and ask merchants to accept bitcoin so the merchants see the demand and do it.
and people sometimes need to see there is a usage for bitcoin, aka merchants are accepting it, to start thinking about spending bitcoin.

Fioraver

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they need Merchant support.
Only Merchant accepted cryptocurrency, people will use cryptocurrency.

Nevis

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Cryptocurrencies specially bitcoins really needs an system upgrade and expansion i think because of old network codes and technology bitcoins face some problems right now and they need to resolve it i think before it will cause chaos

pooya87

legendary

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we need adoption of more users not more speculators.
for now the speculator group is growing fast, people are just investing in bitcoin and see it purely as that. and with that you don't really need any innovation! they will continue investing in it and price will rise!

but when we get more people investing in bitcoin for it being a crypto currency that they can use, and they are willing to use as a currency that is when you can start thinking about next step. for that we first need a change in mentality of people then some merchant adoption and we will be on our way.

franky1

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Quote from: pereira4 on June 25, 2017, 08:00:40 PM

All we need right now is a payment channel layer to allow for trillions of transactions per second so we can actually get everyone on the global economy without destroying the gold-like properties for bitcoin.

Im yet to see other blockchain applications that make sense. Some smart contracts are cool, but most of it is vaporware and lack substance. Lets get the money part right first.

pereira4 as always your posts are full of over advertised hopes and over promised things that you hope will happen but you always fail to dig a lil deeper at the bigger picture

LN is not the final solution and all-solving utopian feature.
dont get me wrong LN has its niche market and utility, but it should be thought of as a voluntary side service and not something everyone should be locking their hoards into permanently.

as for the "trillions" of transactions per second. lol you really need to dig a lil deeper, oh and spend less time on reddit, it doesnt seem to be helping your research/knowledge

pereira4

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All we need right now is a payment channel layer to allow for trillions of transactions per second so we can actually get everyone on the global economy without destroying the gold-like properties for bitcoin.

Im yet to see other blockchain applications that make sense. Some smart contracts are cool, but most of it is vaporware and lack substance. Lets get the money part right first.

franky1

legendary

Activity: 4410

Merit: 4788

Quote from: AlexBessonov on June 25, 2017, 06:46:29 PM

IMO, it would be nice if the industry saw the rise of more coins that build on the Smart Contract principle of Ethereum. Makes the coin much more attractive for ICO's, etc; and adds a degree of flexibility that others don't have.

lol seems you just care about pump and dump profits. (ICO's are just pump and dumps!)

how about making innovative things USING smart contracts of existing coins. actually let these things grow. just inventing new coins or splitting coins is just for the greedy penny pinchers wanting to get 'money for nothing' befor running back to fiat.

DoublerHunter

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I think that most of the cryptocurrencies need adoption from different countries or people but before that it needs a lot of improvement like in bitcoin, it needs fork or upgrade so the network will become bigger so it can handle more volume of transaction and user and it also needs to improve its security because of the threat of quantum computers. After those solutions then it is easy for bitcoin to get demand from different people or country.

AlexBessonov

newbie

Activity: 83

Merit: 0

Quote from: Ethan_Locke on June 25, 2017, 04:24:37 PM

So I was in my car earlier, daydreaming as normal thinking about the crypto industry and how fast it is moving, how its user base in general is growing and the new and upcoming technologies are hard to keep a track of. So I wanted to create this thread for us all to share our wildest innovations and ideas because I thought it would be an interesting read for many, im quite new to the industry as a whole and want to understand both the scope of it over the period over the next few decades, what is possible? Where is this all going? Whats your wildest most imaginative idea on what this industry is capable of? What do you think needs to improve? How can it be improved? What problems do you see that need to be solved?

Excited to hear your responses

IMO, it would be nice if the industry saw the rise of more coins that build on the Smart Contract principle of Ethereum. Makes the coin much more attractive for ICO's, etc; and adds a degree of flexibility that others don't have.

Topic: What does the cryptocurrency industry need? - page 4. (Read 1838 times)