My biggest problem is price is too low. How to fix this? 
buy ten billion USD worth of BTC. there, problem solved
Topic: What's your biggest problem with Bitcoin - page 120. (Read 135083 times)
my biggest problem is the lack of adoption in my country. there's no store that accept bitcoin in my city
buy ten billion USD worth of BTC. there, problem solved
buy ten billion USD worth of BTC. there, problem solved
My biggest problem is price is too low. How to fix this?
Biggest problem with bitcoin is the long time the tx. need to be confirmed.
many shops accept 0 confirmation, i'm not sure that this is the biggest problem, could be solved easy if you use online centralized wallet, where they have a contract with the merchant, and because they trust each other they should have no problem in accepting 0 confirmation TX
Maybe what we need is some kind of double-spend detection tool that can be used by anyone (small merchants, individual user) so that they may accept transactions with 0 confirms as long as no double-spend was detected and as long as there are sufficient fees, etc. Why do we always need to rely on a centralized service to accept 0 confirm transactions?
One issue is that even if one decides blockchain currency is the future... that no longer means bitcoin. The focus on bitcoin is now more and more divided to other altcoins.
Biggest problem with bitcoin is the long time the tx. need to be confirmed.
many shops accept 0 confirmation, i'm not sure that this is the biggest problem, could be solved easy if you use online centralized wallet, where they have a contract with the merchant, and because they trust each other they should have no problem in accepting 0 confirmation TX
Handling multiple wallets and accessing your offline/paper wallets with more ease but keeping security. What if I want to spend big, but my paper wallet is at home and no way I have the brainpower to remember my private key and going home would take me two days and break my vacation and spoil it for the rest. How do I access that big pile of BTC (I wish I had) to spend it on the object of my desire?
Confirmation times do not bother me that much, but it would be nice if the smaller mining rigs could gather the low or no fee transactions and act as maverick miners and confirm these kind of transactions that are left behind by the big rigs and pools. It might nog be profitable, but given enough transactions handled by smaller and personal miners could boost the use of small farms to leverage the balance away from the big ones in China who as a country now owns over 50% of the hashing power and thus has the potential of breaking the chain..
Confirmation times do not bother me that much, but it would be nice if the smaller mining rigs could gather the low or no fee transactions and act as maverick miners and confirm these kind of transactions that are left behind by the big rigs and pools. It might nog be profitable, but given enough transactions handled by smaller and personal miners could boost the use of small farms to leverage the balance away from the big ones in China who as a country now owns over 50% of the hashing power and thus has the potential of breaking the chain..
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.
i agree that the biggest problem with bitcoin is the lack of adoption but the reason for that is not the lack of security. it can be one of many reasons but at least it is not the major reason.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.
also like many others i think the long confirmation is a big issue that bitcoin needs to improve at.
Biggest problem with bitcoin is the long time the tx. need to be confirmed.
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.
The single biggest problem with bitcoin is making it accessible and useable for any idiot. Maybe the 2 problems overlap a little.
I think my main two issues are currently A) the price is volatile but usually goes in the opposite way we want it to (and being deflationary the value should rise over time) and B) I can't spend it at all the places I want to (but hopefully this will change over time).
My biggest problem with bitcoin is also the confirmation time, the same as many others. Besides, when I first known bitcoin, it is known that bitcoin have no transaction fees which is am advantage over credit cards etc. However, for today's situation, transactions paying no or 1 satoshi as fee won't confirm or confirm after weeks (I've seen one of those tx confirmed after 3 weeks of waiting!). So transaction fee is also a problem.
I doesn't get advertised as much as it should be, put some posters, billboards in major cities, airports etc.
- lack of mass adoption, which comes with the fact that there is not enough places to spend your bitcoin.
- transaction confirmation time, which can take 5-15 minutes most of the time.
- price instability, this makes bitcoin and investment for profit (which is good) but it can not be considered as a currency.
- large number of unconfirmed transactions
We are a team of entrepreneurs and software developers that are going to spend the next following months-year on developing a new product.
care to explain more and introduce yourselves.
the biggest problem for me is that after 6 years bitcoin has still a ridiculous market cap, and it is still to far away from being fully accepted, not to mention that many epople around the world don't even know what bitcoin easy
basically my main problem is the global awareness of bitcoin
basically my main problem is the global awareness of bitcoin
I think the biggest problem with bitcoin is :The bitcoin community has a communication problem.
major problem is this:
Even I paid fee recommended by Electrum with default setup (so setup of average Joe), I'm now waiting over 80 minutes to get first confirmation. please start doing something with block size..this is simply madness.
edit: 90 minutes 8.4k unconfirmed TX
Even I paid fee recommended by Electrum with default setup (so setup of average Joe), I'm now waiting over 80 minutes to get first confirmation. please start doing something with block size..this is simply madness.
edit: 90 minutes 8.4k unconfirmed TX
Blame the people that are doing stress tests in BTC network almost on daily basis.
By the way, transaction spam and abuse of stress tests are inconvenient too, but I think that things improved because I don't see many people complaining about receiving dust spam transactions adverting some ponzi
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.
Even I paid fee recommended by Electrum with default setup (so setup of average Joe), I'm now waiting over 80 minutes to get first confirmation. please start doing something with block size..this is simply madness.
edit: 90 minutes 8.4k unconfirmed TX
I'm toying with a proposal that I think might fix this type of issue.edit: 90 minutes 8.4k unconfirmed TX
https://github.com/d4n13/bips/blob/master/bip-00nn.mediawiki
Basically, you sweep your unconfirmed transactions to another address with a intentionally high TX fee. This will incentivise your stale transactions.
major problem is this:
Even I paid fee recommended by Electrum with default setup (so setup of average Joe), I'm now waiting over 80 minutes to get first confirmation. please start doing something with block size..this is simply madness.
edit: 90 minutes 8.4k unconfirmed TX
Even I paid fee recommended by Electrum with default setup (so setup of average Joe), I'm now waiting over 80 minutes to get first confirmation. please start doing something with block size..this is simply madness.
edit: 90 minutes 8.4k unconfirmed TX
The biggest problem or I should say annoyance is with the confirmations time some times (not always) but most of the exchanges or gambling sites require you to wait for atleast 1-3 confirmations before the funds are made available in your account and sometimes it takes more than 10 minutes for the first confirmation and might take upwards of 30-40 minutes for 3 and that wait can be really frustrating when you want to do a quick trade or make a quick bet.
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