Topic: What's your biggest problem with Bitcoin - page 113. (Read 135083 times)

Very less number of resources to earn BTC. BTC is mostly being used for gambling online.
BTC value is very unstable and that can be factor that websites like swagbuck and mturk don't pay in BTC.

i am sorry to hear that.
but it doesn't matter where you have invested because you invested your money (bitcoin) in something without any prior knowledge.
the thing is, every kind of investment has its own risks and rewards. it is up to you to do some research before investing your money into anything , no matter what it is.

My biggest problem isn't with Bitcoin itself, but with its users.  Bitcoin works best when it is used as a peer-to-peer system with no middlemen.  Sadly, human beings are creatures of habit and over the years have become accustomed to leaving their money in the hands of other people, namely banks.  The outcome of using this same mentality with Bitcoin is usually a bad one.  Nearly all of the thefts and hackings reported in the media happened because people left their bitcoins stored online in the hands of someone else, mistakenly believing they would look after them.  Even now, there are still far too many people leaving the bulk of their coins on exchanges or other third party websites where users don't have full control of their keys.  Stop doing Bitcoin wrong.  It's not difficult.

My biggest problem when I get bitcoin quite a lot and I am confused how to multiply it, and then my friend suggested hyip investment and that time I did not really know. then I invest all my bitcoin, and one day later the website can not be accessed and scam 

my biggest problem with bitcoin is its fluctuation and of course and its legalized in my country specially to make a purchase live as soon as posible from your smartphone, i hope someday that would happen amin

my problem is that the price of it is really fluctuating so i cant really buy it as one day the price might fall really sharply

I don't have any problems with bitcoin :-)

If they create more problems, something has to be done.

Like setting a limit to how much mining can be associated with a geographical region. If possible this might reduce the super mine sizes. This will in turn lower the efficiency of these mines, and lower the difficulty of mining. Thus making is viable for more people around the world to mine again. This would decentralize the mining power... something Satoshi would probably want. I doubt he ever intended for some mega mines (or anyone else) to be able to influence the system in any way.

Just one example of a solution. There could be many other ways of reducing the power of the mega mines.

My biggest problem to start with was actually trying to get hold of them. i started off using paypal to buy lindens to convert but it took ages and was obviously over priced.

Dealing with the Chinese mafia, I would also consider a problem

But on a serious note: Let us see if they can can, or rather will, create some actual problems. They are after all depending on the fact that they can sell their mined coins. Too much drama would, I think, hurt bitcoin price-wise.

No peer to peer banking app. If my programming time isn't already 100 percent occupied with other projects already, I'd code one. It seems to me that it is a waste of bitcoins to have it just sit in your wallet all the time. You should have a banking app that will allow you to loan your bitcoins out with interest based on a borrower's credit score. Your money should be working for you, making interest and dividends, not just sitting in your wallet.

Have a blockchain like app with multiple decentralized servers take deposits. Then, this app will make loans with interest based on credit scores. The app will then pay the depositors interest minus a reasonable fee for the people running the servers. This would act as a bank without the crazy banking fees and our taxes being given away to "bail out" shitty banksters that will only use the money to throw fancy parites with hookers and champagne! Computer servers don't need hookers and champagne.

There should be automated apps that take the place of all financial services which are currently run by corrupt banksters and lawyers.

I don't think the bitcoin technicalities are much of a problem since all technical difficulties can be systematized with proper time and devotion. For me the main concern is the mentality of the bitcoin users. For a currency that is so new and a economy that is so fragile, people expects too much from bitcoin. So whenever some faults appear, people get all so judgmental about it. When they really should do is try to find some solutions to that problem.

  p.s: I think I just described most of the new users in the forum.  

The biggest problem i have right now is the drama between the Chinese miners thinking they own bitcoin because they got a mafia setup with the bitcoin miner companies to no accept the bigger block size.

That's when I got in. There's just too much investment pouring in to bitcoin related technologies and startups for it to stay down very long.

Maybe some of this will be passed on to Bitcoin devs to address some of the problems with Bitcoin that many are experiencing including myself. For me I have problems on SSD drive that ever time trying to run ends up crashing when trying to load after fully successfully downloading block chain running in background and then closing, after a few days of being off and then running again will end up in some way crashing or end up blue screening my system. I would strongly advise to making a compact version of block chain or re invent the BTC wallet so it only has to read the data from one place online or being cloud supportive and reads and indexes everything and reduces amount of space took up on system.


1 Improve size / disc space used and be less than 1GB used..
2 Improve speed in downloading blockchain. ID seepds would be good if wallet can handle the bandwidth and connections better like torrent speeds and downloading. Maybe to take some of the features out of torrent to handle downloading of block chain on to system.
3 Maybe to remake bitcoin wallet so that it is not fully dependent on miners needed to confirm all confirmations needed. After x amount of it being confirmed it then gets some system to process the remaining ones that does not effect the tx fee for miners.
4 to have a a banking system in a way like POS or get reward for keeping coins in wallet in methods that can benefit everyone who keeps so much of it their from extra satoshis or to some electronic goods or vouchers.

Maybe some good or some bad or stupid I dont know but casting my problems and also some ideas to make things better.

The biggest problem with Bitcoin is the 1 MB maximum blocksize limit and the lack of adaptive blocksize limits. Take an look in this thread and see how many people are complaining about transactions taking too long to confirm. This is directly related to the fixed blocksize limit that has made the recent "stress tests" / "attacks"  economically feasible. Now take a look at https://blockchain.info/ and find that most blocks are very close to the limit. Then take a look at https://blockchain.info/unconfirmed-transactions. It is very easy to attack a network, that is already running very close to capacity with legitimate transactions, with "stress tests". 

Dammit, you found one problem that I also have! My investments in bitcoin is by far over and I am is perfectly fine with a $230 price. +300 will have me hesitate and wait for a drop

A big problem is that governments can't control bitcoin like fiat currency. They can't print it up to go fight wars whenever they want (could be a good argument for bitcoin bringing peace). This is a problem because it's made bitcoin even more volatile, made bitcoin out to be a house of cards that the government flick over with one finger.

He is right..??
http://www.quora.com/What-are-the-biggest-problems-with-bitcoin-right-now

Well see dogecoin, it doesnt take 30 min to make just 1 confirm. It's pretty fast than bitcoin and the fees are very low.

sorry to hear that but you should have bought when the market was calm and the price was at the stable and low level.
back when it was $220, everybody was whining , that bitcoin is dying and we are selling and now everybody is regretting...