What's your biggest problem with Bitcoin - page 78.

ranochigo

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Quote from: trickyriky on January 26, 2016, 02:18:26 PM

-snip-
yet your missing the very real fact that bitcoin nodes require SSD's at 10x the cost and 10x less storage capacity, and with more volume / transactions the SSD's simply wont be able to keep up, its simple maths.

Bitcoin nodes do not require SSDs. There is no significant benefits from using SSD other than during the initial synchronization (unless you are running a huge full node). There's 3.84TB SSD that cost $2000+ and it would decrease as time passes. In the future releases, Bitcoin Core would have pruning enabled fully and there would be no problem running Bitcoin Core. Just to remind you, a 1TB hard disk costs $53.

Imoote

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Quote from: adibe on January 27, 2016, 02:34:33 AM

Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

^ This, agree with you. Especially for gambler like me who need bitcoin fast if i found a match that potential. it always takes an hour or more. so it's sucks to wait like that.

Yes but I think it was faster than the others that take even took days.
Perhaps if the faster it only takes minutes for example it was very good.

adibe

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Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

^ This, agree with you. Especially for gambler like me who need bitcoin fast if i found a match that potential. it always takes an hour or more. so it's sucks to wait like that.

joinal

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Quote from: jostorres on January 26, 2016, 02:03:53 PM

Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

Sometimes if the sender doesn't add a fee, the transaction is just dropped by the network. It's risky when a transaction doesn't get confirmed and we need to spend the amount again from our wallet.

Yeah. I think it was a thorny problem of bitcoin. many people think that. bitcoin advantage is due to the rapid transaction,
Is this the purpose of the transaction on a fast?
This will actually make a lot of people are not interested, if confirmation is still a very long time

ajun96

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Quote from: eternalgloom on January 26, 2016, 05:09:25 PM

Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

It really depends though, sometimes it can literally take hours to confirm and at other times it happens in little more than a minute.
Regardless of the transaction fee that was used.

many people are upset with a confirmation, but we recommend you add the cost fee, instead continued to curse Undecided

I hope bitcoin could be better

krunox123

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Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

It is literally not a big deal to wait the transactions to be confirmed by the network, TBH. Unless it took more than 24 hours to confirm the transaction. But while waiting the Bitcoin price might increase and you can lose some profit though.
As long as my transactions is confirmed by the network, it is fine for me.

Duomo

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☃

If I have say one thing I dislike about Bitcoin, it is the transaction times, it can take 20+ mins trying to just some coins from one wallet to another. It might not seem like a lot but if you are a business making payments and you would like to cash out your bitcoin as quickly as possible, 20 mins can cause a whole lot of trouble in the volatility of what bitcoins are worth. You might lose 10% or more in the time it takes to convert to Fiat.

HarHarHar9965

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Quote from: n691309 on January 26, 2016, 04:26:26 PM

In the near past my biggest problem with the bitcoin was the long time for transaction to be confirmed but nowadays a block is average being mined within 15 minutes

In my case, I was use to transfer the bitcoins and exchange for fiat in my bank account for long period. suddenly my bank took charges more apart from forex charge. I lost nearly 300$ in that.

this mistake they give statement like this is mark up fees for your transaction they said. Sad

owm123

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Quote from: eternalgloom on January 26, 2016, 05:09:25 PM

Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

It really depends though, sometimes it can literally take hours to confirm and at other times it happens in little more than a minute.
Regardless of the transaction fee that was used.

Transaction fees should matter after 21 minion bitcoin is mined. Not now. Now miners are rewarded with block awards.

Miners want to double deep now, and everyone knows that bitcoin is controlled by miners. It is already confirmed that Core devs insist on 1MB blocks, because this guaranties higher transaction fees, thus higher profits for miners, as opposed to 2MB blocks:

https://www.reddit.com/r/btc/comments/42hl7g/greg_maxwell_admits_the_main_reason_for_the_block/

eternalgloom

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Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

It really depends though, sometimes it can literally take hours to confirm and at other times it happens in little more than a minute.
Regardless of the transaction fee that was used.

sana54210

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Quote from: Herbert2020 on January 26, 2016, 11:37:47 AM

Quote from: harizen on January 26, 2016, 11:33:17 AM

Quote from: Pattart on January 26, 2016, 10:50:24 AM

Quote from: mrcashking on January 26, 2016, 08:18:24 AM

The thing which irritates me is the hunt for the control.People are willing to even destroy/dump the coin for their own benefits or to shine their altcoin,the same problem which was before bitcoin.

yeah I heard that the price of a coin can be manipulated by someone, if you have a lot of money, you could do a pump and dump
you can make a profit from it

Yes it can. There's a so called whale group who can do that and also some big people in the bitcoin world. But I noticed that because of many bitcoin adopters today unlike in the past, manipulators are having a hard time to do such a move because moreover more people that not part of the "manipulators" are joining the bitcoin madness.

yeah, this issue exists as of today but hopefully it can be resolved in the future as the number of users grow in number and bitcoin becomes more spread and not just in the hands of few big pockets.
this will make the effect of whales and negative propaganda less effective so hopefully it would lead to a more stable market.

There are many altcoin users who spread FUD as they can't see the popularity of bitcoins and there are some users who themselves generate these altcoin who do it. Some of them were unhappy when the price rose to $500 and their altcoins lost their value. I don't think it's that bad to promote their coins but they force users of bitcoins to sell their coins at a low price for the same.

n691309

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In the near past my biggest problem with the bitcoin was the long time for transaction to be confirmed but nowadays a block is average being mined within 15 minutes

naidray

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My biggest problem is that when I deal with newbies, they do not understand how confirmation works and start sweating badly in the time I wait for confirmation. The case gets worst when the network is busy and takes much longer.

cjmoles

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My biggest concern with bitcoin (besides its economy of scale) is that it doesn't seem to be keeping up with the pace of technology. In my opinion, it is becoming antiquated in comparison with some of the other alternatives presently available. Turing capability and smart contract functionality is something that is needed and was discussed by original team members but has since been ignored. I think that bitcoin needs to pick up its pace in order to compete, especially with what the R3CEV team might be working on.

trickyriky

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Quote from: RealBitcoin on January 26, 2016, 02:07:16 PM

Quote from: trickyriky on January 26, 2016, 10:22:38 AM

60Gb blockchain and growing, at this rate bitcoin will be centralised or dead by 2021, only guberment data centers will be able to sustain the network, and with mass adoption, lets just say bitcoin would cripple the internet, it was a good project for the bankers to create extra wealth but like everything, it has a shelf life

luckily the mass's are not as dumb as we would like, they will not put their wealth anywhere they do not have control of it, they would have to rely on a power company giving them energy, and an isp not suspending their internet access

crypto is a toy for the intelligent nothing more nothing less, it can never take over fiat without crippling the internet, and enslaving the 99% who dont want digital currency

Hahaha very funny, there are 5 TB harddisks now, and I dont think the blockchain will reach > 5 TB by then.

And the blocksize will still be small, so I`m not sure how the bandwidth wont be capable of relaying it.

By 2020 you will have 1 PB harddisks for consumer price ~25$, and at least 3mb/s internet in every household.

Your theory sucks, go back to your printed money my friend. Because bitcoin will outlive fiat money.

yet your missing the very real fact that bitcoin nodes require SSD's at 10x the cost and 10x less storage capacity, and with more volume / transactions the SSD's simply wont be able to keep up, its simple maths. by 2021 bitcoin as a network will either be fully centralized or dead im afraid, believe or not that is your choice, but like i already stated, its a brilliant way to rob the mass's get them all invested then destroy the network, agenda 21 in action im afraid Sad

technologically we have gone about as far as we can go, i am including guberment classified tech aswell, they only give us their cast offs, if its in their interest, kinda like the interwebs lol

you have a seriously tainted out look on society, i know a lot of people who refuse to have an internet connection or a phone, the internet will never be in EVERY house lol

your either living in dreamland about reality or your heavily invested in bitcoin sorry to tell it like it is but the truth cares not about opinions :/

RealBitcoin

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Quote from: trickyriky on January 26, 2016, 10:22:38 AM

60Gb blockchain and growing, at this rate bitcoin will be centralised or dead by 2021, only guberment data centers will be able to sustain the network, and with mass adoption, lets just say bitcoin would cripple the internet, it was a good project for the bankers to create extra wealth but like everything, it has a shelf life

luckily the mass's are not as dumb as we would like, they will not put their wealth anywhere they do not have control of it, they would have to rely on a power company giving them energy, and an isp not suspending their internet access

crypto is a toy for the intelligent nothing more nothing less, it can never take over fiat without crippling the internet, and enslaving the 99% who dont want digital currency

Hahaha very funny, there are 5 TB harddisks now, and I dont think the blockchain will reach > 5 TB by then.

And the blocksize will still be small, so I`m not sure how the bandwidth wont be capable of relaying it.

By 2020 you will have 1 PB harddisks for consumer price ~25$, and at least 3mb/s internet in every household.

Your theory sucks, go back to your printed money my friend. Because bitcoin will outlive fiat money.

jostorres

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Quote from: beerlover on January 26, 2016, 01:42:38 PM

My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

Sometimes if the sender doesn't add a fee, the transaction is just dropped by the network. It's risky when a transaction doesn't get confirmed and we need to spend the amount again from our wallet.

hawkins

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lately I get quite a difficult problem in bitcoin, I sell bitcoin I have told my friends, but when I send bitcoin I have to address my friend's purse, I menullkan wrong address so I had to send twice Sad

beerlover

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My biggest problem is the time the transactions take to confirm. as I use coinbase, it takes over an hour for the transactions to get confirmed and even while sending money to external wallets, it takes the same amount of time.

ranochigo

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Quote from: trickyriky on January 26, 2016, 10:22:38 AM

60Gb blockchain and growing, at this rate bitcoin will be centralised or dead by 2021, only guberment data centers will be able to sustain the network, and with mass adoption, lets just say bitcoin would cripple the internet, it was a good project for the bankers to create extra wealth but like everything, it has a shelf life

luckily the mass's are not as dumb as we would like, they will not put their wealth anywhere they do not have control of it, they would have to rely on a power company giving them energy, and an isp not suspending their internet access

crypto is a toy for the intelligent nothing more nothing less, it can never take over fiat without crippling the internet, and enslaving the 99% who dont want digital currency

With disk becoming cheaper and cheaper, storage space has been becoming less of a problem. Pruning would also allow one to run Bitcoin Core without the need for large space while remaining trustless. Bitcoin users has been long predicted to be using more SPV clients than Bitcoin Core.

Quote from: bitcoinboy12 on January 26, 2016, 11:03:06 AM

For me is why it takes so slow for it to be transferred unlike alt coins. And its POW nature makes mining almost unprofitable for small players not to mention you need to upgrade your miners every year or so.

Bitcoin has significantly much more security than alt coins. It's POW nature stops users who operates a service and have large entity of coins to hold a monopoly with little or no cost. Mining is not what an average joe should engage in.

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