Topic: What's your biggest problem with Bitcoin - page 114. (Read 135106 times)
getting scammed by ponzi - while i was supposed to have my first payout and they collapsed. in fact, i shouldn't invest unless they have enough data in which proves they aren't scamming.
Biggest problem: Its value increases when I want to buy 
Hit 301$ in preev.com just now.
Hit 301$ in preev.com just now.
To me Bitcoin is already good in its current form, there is practically nothing I would want to add beside faster confirmation times.
For online payments it doesn't matter that much, but if you buy something expensive "offline" from a retail store, they would at least want to have 1 confirmation. Which can take up to an hour. In this case faster confirmation times would be a great welcome addition.
Actually a stores software could do the following:For online payments it doesn't matter that much, but if you buy something expensive "offline" from a retail store, they would at least want to have 1 confirmation. Which can take up to an hour. In this case faster confirmation times would be a great welcome addition.
1. Listen for doublespends.
2. Check transaction bytes and fee are valid and sensible.
3. Listen for propagation.
If you are well connected or hook up to some service that is you can accept the transaction in 1-10 seconds with a very high degree of certainty.
(If the item costs more than 2000$ its probably important enough that you can go get an icecream first before picking it up
)There is a company already doing this I heard on LTB, but I forgot their name.
Since starting using localbitcoins.com (which has members offering instant Swish transaction), I really don't have a single problem. Perhaps that I have too few 
My biggest problem with Bitcoin is, I don't know where the easiest and the safest place to keep it.
I want to use the Bitcoin core, but my PC couldn't handle it. So I use an online wallet, but I don't know if it's safe enough.
I want to use the Bitcoin core, but my PC couldn't handle it. So I use an online wallet, but I don't know if it's safe enough.
Use an SPV wallet like Electrum. It doesn't download the whole blockchain.
Bitcoin is perfect, problem is the tech nerdy lot that populate this forum seem to not understand that the mainstream don't want to know about hashing, the blockchain tech, complicated wallets, etc etc.
Thats why Getgems will fill than void. Get Bitcoin away from the nerds at last!!!!
https://bitcointalksearch.org/topic/--1117801
Thats why Getgems will fill than void. Get Bitcoin away from the nerds at last!!!!
https://bitcointalksearch.org/topic/--1117801
perfect i have my doubt, every small weakness about bitcoin make it less perfect, everything related to mining attack can fuck up bitcoin so badly, that it will hardly recover
The confirmations of transactions getting delayed to much extent day by day, would appreciate if you can innovate something to overcome this issue, due to this delay there is some sort of skepticism occur on mind between buyer and seller regards to the trust.
rise the fees for the moment, and everythign will be fine, this storm can't last forever
The confirmations of transactions getting delayed to much extent day by day, would appreciate if you can innovate something to overcome this issue, due to this delay there is some sort of skepticism occur on mind between buyer and seller regards to the trust.
It's not easy to solve unless you have a degree in computer science. Are there any easy to understand instructions on how to craft your transaction so there is no change anywhere? I mean really basic instructions that any idiot can understand.
I have such a degree... so I'll give it a shot. I'm not at my node, so I'll have to do this off the top of my head.1) I see your address is 1MkPr5qEaU5A7fuLx8cpqYfQSanQZptfBS
2) You can see that my address is 18MDTTiqPM8ZEo29Cig1wfGdkLNtvyorW5
3) I see that you have 8.40 mBTC
4) I propose you give me 1.0 mBTC for awesomeness
5) You hit the send button on your Bitcoin-Qt client.
6) You fill in my address as the to: 18MDTTiqPM8ZEo29Cig1wfGdkLNtvyorW5 for 1.0 mBTC
7) You fill in your address as the second recpt: 1MkPr5qEaU5A7fuLx8cpqYfQSanQZptfBS for 7.39 ( the 0.01 mBTC is for TX fee )
8.) If 8.40 is your total balance (can only see the one addr), then no change will get generated.
If your wallet has many addresses, and shows a total of 8976.54 mBTC then just change the amount going back to yourself as simply... all your money.
Here's the math (stay with me).
If you own 8976.54 mBTC in your wallet, and want to pay me (continuing theme) 1 mBTC.
- 8976.54 - 1 (for payment to me) = 8975.54
- 8975.54 - 0.01 (for transaction fee) = 8975.53
- 8975.53 is what you send to yourself in the send window
I might do some screenshots, but I think this subject is getting a bit off in the weeds.
Suffice to say, post a thread "How do I send my change back to my Hot Wallet in Bitcoin-Qt (or whatever)" and you should get plenty of replies. Easy stuff.
Sorry I use multibit and I put the wallet files for that address into deep cold storage to force myself to HODL my Bitcoins. I haven't noticed a second recpt address field in multibit so I cannot attempt your instructions. In fact I have never seen a second recpt address field in the qt for any alt coin either. Are there any normal alt coin qt wallets with second recpt address fields?
Working on implementing multiple to addresses now. It's not hard to do.
Feel free to talk about any problem, even if it seems unsolvable or too abstract (e.g. Bitcoin is not safe enough for the average user)
Change addresses. I guess it's unsolvable, but if only there could be a bitcoin which didn't require the use of a change address with transactions (i.e., unspent funds remain in original address).
Well that's easy enough, just use the the same address for the to address and the change address. Money goes right back.
Well, the majority of the replies are about confirmation times. I guess none of them use 3rd party services with instant off chain payment systems. {Xapo / AsMoney etc.}
I have a problem with NEW users being scammed and hacked, due to a lack of security on the 3rd party services they are using. I would want to see someone developing a cheap hardware Bitcoin wallet for entry level Bitcoin users. Something like the Trezor, but just a lot cheaper. {They should be able to buy it, at the price of a 16GB USB Flash Disk}
People should not adopt Bitcoin, just to be hacked within the first few days.
I have a problem with NEW users being scammed and hacked, due to a lack of security on the 3rd party services they are using. I would want to see someone developing a cheap hardware Bitcoin wallet for entry level Bitcoin users. Something like the Trezor, but just a lot cheaper. {They should be able to buy it, at the price of a 16GB USB Flash Disk}
People should not adopt Bitcoin, just to be hacked within the first few days.
How do the 3rd party service protect themselves against double spending attacks then?
OP, what are you a software development team of?
Two things:
1. Confirmation time is too long
2. Withdrawal methods. It would be great if you could directly cash out your bitcoin to fiat.
1. Confirmation time is too long
2. Withdrawal methods. It would be great if you could directly cash out your bitcoin to fiat.
Getgems sends coins ina split second....problem solved, don't moan...
Bitcoin is perfect, problem is the tech nerdy lot that populate this forum seem to not understand that the mainstream don't want to know about hashing, the blockchain tech, complicated wallets, etc etc.
Thats why Getgems will fill than void. Get Bitcoin away from the nerds at last!!!!
https://bitcointalksearch.org/topic/--1117801
Thats why Getgems will fill than void. Get Bitcoin away from the nerds at last!!!!
https://bitcointalksearch.org/topic/--1117801
biggest problem is greedy local exchanges that charges too much for withdraws and for trades.
But it is not software's fault.
But it is not software's fault.
*confirmation time and inconsistency (sometimes it is few minutes to get first confirmation, sometimes you have to wait half an hour)
*no finance motivation for running bitcoin core node (which cost more and more resources to run and is unusable for home users)
*centralization of bitcoin mining (even I know, that you can't do anything with it, I feel it like a problem)
*non-reverse payments (if you missclick with floating point, you are simply screwed)
and much more, but you asked only for the biggest one:)
*no finance motivation for running bitcoin core node (which cost more and more resources to run and is unusable for home users)
*centralization of bitcoin mining (even I know, that you can't do anything with it, I feel it like a problem)
*non-reverse payments (if you missclick with floating point, you are simply screwed)
and much more, but you asked only for the biggest one:)
Non-reverse payments is easily solved; I am working on a solution now that should be up soon at www.morsecoin.com. You simply get the recipient to confirm they own the public key by entering their private key. This can be done on the client side so their key never traverses the network.
Software development team here.
We would like to hear from the community what are the most annoying\frustrating stuff you have with Bitcoin and would love to get a solution for ?
Feel free to talk about any problem, even if it seems unsolvable or too abstract (e.g. Bitcoin is not safe enough for the average user)
Edit:
After reading all the replies, I feel confident summarizing that the #1 problem of Bitcoin is probably lack of adoption.
And the main reasons of lack of adoption are probably ease of use and insufficient security.
We are a team of entrepreneurs and software developers that are going to spend the next following months-year on developing a new product.
One of the most appealing markets for us is the Bitcoin market.
We will try to learn us much as possible from your replies and try to tackle the problems head on.
We would like to hear from the community what are the most annoying\frustrating stuff you have with Bitcoin and would love to get a solution for ?
Feel free to talk about any problem, even if it seems unsolvable or too abstract (e.g. Bitcoin is not safe enough for the average user)
Edit:
After reading all the replies, I feel confident summarizing that the #1 problem of Bitcoin is probably lack of adoption.
And the main reasons of lack of adoption are probably ease of use and insufficient security.
We are a team of entrepreneurs and software developers that are going to spend the next following months-year on developing a new product.
One of the most appealing markets for us is the Bitcoin market.
We will try to learn us much as possible from your replies and try to tackle the problems head on.
You've just got to make it easy for people to "top up" their bitcoin wallets. Once using bitcoin is simpler than using cash, credit cards, or writing a check, people will use it and every merchant will want to accept it.
#1 problem of Bitcoin is probably lack of adoption.
No, it is whales. People who obtained insane amount of bitcoins one way or another and then removed them from economy, reducing exchange liquidity and causing price to swing wildly. There won't be mass adoption unless liquidity improves big time. But you tell that to someone who sits on 10,000+ BTC and does not have to sell any of those coins unless price suits him (1 million dollars or so).
Two things:
1. Confirmation time is too long
2. Withdrawal methods. It would be great if you could directly cash out your bitcoin to fiat.
1. Confirmation time is too long
2. Withdrawal methods. It would be great if you could directly cash out your bitcoin to fiat.
The biggest problem is the confirmation time
I have NO such a Big Problem with BTC, But Little Problem, Yeah I have, I cant withdraw my BTC directly to fiat Money, I have to go to exchanges or localbitcoin for that. Have Master card of bit-x but its fees are too high. Other wise BTC, doing very well in my daily life,
But there is option of transfering BTC directly to your bank account I guess so you can withdraw in your local currency and the fees are not too high. So that would be the best option for you as I prefer directly transfering BTC do my Bank account.
I dont think so, that sites directly send btc to my country bank, with very low fees, i never countered a sindle site. I need to first exchange btc
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