[quote author=cjmoles link=topic=1101336.msg13415737#msg13415737
My biggest problem with bitcoin is its lack of a smart contract functionality. It is too easy to send bitcoin off for some goods or services and not receive those goods or services in return. I know that there are escrow services that provide a measure of comfort but they're not safe either and represent a degree of centralization. Some of the newer alternatives, such as Ethereum, have included turing capabilities and smart contract functionality to their platform which makes their system less reliant on trust. It would be nice if Bitcoin also included those features somehow.
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Is it the same problem with paying online using credit cards or paypal? I mean, you can buy staff online and not receive it, but you can do charge-back as a last resort. So the smart contracts would provide charge-back functionality or something else?
Topic: What's your biggest problem with Bitcoin - page 84. (Read 135083 times)
the biggest bitcoin is that the confirmation take time it should be 10 minutes to get 30 confirmation atleast
There are many reason why confirmation times are not a few seconds. Is 10 minutes to much? Maybe. But how short should it be? 1 minute? Dont know. For example, Monero has 1 minute now, but I think they will be increasing it to 2 min. 1 min seems too short.
the biggest bitcoin is that the confirmation take time it should be 10 minutes to get 30 confirmation atleast
I am still concerned about security in online wallet by 3rd parties.
For security I am not so attentive. for its own security it depends on you.. if you want to more secure you can add some verification like authy, sms, or google authenticatorto a third party you can use the wallet offline
It is not enought, for maximum security you need hardware wallet like trezor. But the problem is trezor cost 99 USD (including shipping). It is too much for regular joe, more like under 20 USD (without shipping) is realistically necessary for trezor to get Bitcoin mainstream - and I think it is bigest problem with Bitcoin to get mainstream - the lack of cheap very secure hardware wallet like trezor
It's fairly easy to make your own hardware wallet using SIM cards, Yubikeys or similar stuff.
And quite cheap too, the new Raspberry Pi is what, $5 nowadays?
I am still concerned about security in online wallet by 3rd parties.
For security I am not so attentive. for its own security it depends on you.. if you want to more secure you can add some verification like authy, sms, or google authenticatorto a third party you can use the wallet offline
It is not enought, for maximum security you need hardware wallet like trezor. But the problem is trezor cost 99 USD (including shipping). It is too much for regular joe, more like under 20 USD (without shipping) is realistically necessary for trezor to get Bitcoin mainstream - and I think it is bigest problem with Bitcoin to get mainstream - the lack of cheap very secure hardware wallet like trezor
There aren't very many problems for me with Bitcoin. My only issue is buying BTC, I don't know about any other service's but I use Coinbase currently. It take minimum of 5 days for the BTC I purchase to be credited to my wallet. I think that is just crazy! I mean honestly why should it take that long (with a 1% fee) to get your bitcoin's?? That's honesty my only problem I have, granted it's not BTC's fault and most likely the service I use.
Try to use another alternatives 
I honestly don't use Coinbase again because of that
although i gotta say Coinbase is really secure because your coins are being insured
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.
My biggest problem with bitcoin is its lack of a smart contract functionality. It is too easy to send bitcoin off for some goods or services and not receive those goods or services in return. I know that there are escrow services that provide a measure of comfort but they're not safe either and represent a degree of centralization. Some of the newer alternatives, such as Ethereum, have included turing capabilities and smart contract functionality to their platform which makes their system less reliant on trust. It would be nice if Bitcoin also included those features somehow.
My only problem is that it's so controversial. We don't know which way to go because everyone is looking at us as if we're evil scam artists.
There aren't very many problems for me with Bitcoin. My only issue is buying BTC, I don't know about any other service's but I use Coinbase currently. It take minimum of 5 days for the BTC I purchase to be credited to my wallet. I think that is just crazy! I mean honestly why should it take that long (with a 1% fee) to get your bitcoin's?? That's honesty my only problem I have, granted it's not BTC's fault and most likely the service I use.
Why don't you use localbitcoins? As I purchase my bitcoins from the same and the creidts are on the same day, I haven't waited even for 2 days to get my btc to digital wallet, As I transfer money to their bank accounts they straightaway send me btc to my digital wallet. My experience is very good when it comes buying bitcoins.
There aren't very many problems for me with Bitcoin. My only issue is buying BTC, I don't know about any other service's but I use Coinbase currently. It take minimum of 5 days for the BTC I purchase to be credited to my wallet. I think that is just crazy! I mean honestly why should it take that long (with a 1% fee) to get your bitcoin's?? That's honesty my only problem I have, granted it's not BTC's fault and most likely the service I use.
Yeah that will be coinbase problem. I havent tried buying from coinbase but thanks for the heads up. Now i know how long is it to buy from them. This thread is really useful.
There aren't very many problems for me with Bitcoin. My only issue is buying BTC, I don't know about any other service's but I use Coinbase currently. It take minimum of 5 days for the BTC I purchase to be credited to my wallet. I think that is just crazy! I mean honestly why should it take that long (with a 1% fee) to get your bitcoin's?? That's honesty my only problem I have, granted it's not BTC's fault and most likely the service I use.
The confirmation time is indeed a problem... Sometimes it takes like 5 hours for 1 block to hit, not to mention the 3 confirmations that most exchanges/wallets require to credit your funds 
Yeah but sometimes it is faster too. It will be a problem when you are a trader due to the time that it will take it may change the movement of bitcoin while it is in the air.
The confirmation time is indeed a problem... Sometimes it takes like 5 hours for 1 block to hit, not to mention the 3 confirmations that most exchanges/wallets require to credit your funds
I am still concerned about security in online wallet by 3rd parties.
For security I am not so attentive. for its own security it depends on you.. if you want to more secure you can add some verification like authy, sms, or google authenticatorto a third party you can use the wallet offline
For now i don't have big problem with bitcoin. my problem with bitcoin is the confirmation that take too long to confirm. i'm gambling with bitcoin so it's sometimes take to long to deposit, then my match already play.
Confirmation time also fine for me. But the who are playing in transaction and looting the bitcoin This I feel Big problem in bitcoin usage. And Price rate is going pumping and dumping Its very bad fact in bitcoins. If its grows well gradually means I will be more happy with that.and I expect bitcoin to rule like USD through globally.
Transaction time & not much merchant in my country are the biggest problem.
I only use my bitcoins for online shopping since i couldn't find any merchant which accept bitcoin.
I only use my bitcoins for online shopping since i couldn't find any merchant which accept bitcoin.
This is a big problem for a lot of people here. They cant use it for outside shopping malls or other shops. Well, maybe someday, when they finally realized that it is a real money and they see that they can also profit just by bitcoin movements.
While I agree with you that the transaction time (and block size for that matter) is a huge issue for bitcoin, business IRL and most big online business don't want to deal with bitcoin because, while they can profit from a bull market in bitcoin, they can also loose their ass in a bear market.
I mean imagine if every business you could imagine started accepting bitcoin back when bitcoin was $1K+ ... I would imagine that a lot of businesses would have gone out of business when the price eventually crashed. If you want to see mainstream adoption of bitcoin in general, you are going to have to see a more stable price of bitcoin for around 6 months at a time. Bitcoin is mainly a economic tool of speculation and is primarily a very volatile asset, rather than a legit currency that is a store of value.
I hate all the people who use it for scamming. It is like bitcoin is made for scammers, instead of for us.
True it is caused by the fact that bitcoin is anonymous for the end-user, but there should come some party which monitor the market/scammers.
True it is caused by the fact that bitcoin is anonymous for the end-user, but there should come some party which monitor the market/scammers.
I agree with your statement to a limit that Bitcoin forum is filled with scammers but there are moderators who keeps an eye on it and kicks out the scammers and yes having a strong team to monitor the scammers will be good and it will help us to get rid of scammers.
There should be a modification in Bitcoin's coding (are something similar on the Blockchain) that would detect the scammer and automatically issue a penalty by the Blockchain itself. Could this be achieved? If so, there would be a safer and more secure world in Bitcoin. Just sharing my thoughts here.
1) the long confirmation time since most sites ask for 3-4 v confirmations to process the transaction
2) the long needed to download the blockchain for the first time when using original client.
1) Only exchanges. Majority if not all online stores ask for 1 confirmation and physical stores don't need it.2) the long needed to download the blockchain for the first time when using original client.
2) That's the reference client. Users can use SPV clients.
1) the long confirmation time since most sites ask for 3-4 v confirmations to process the transaction
2) the long needed to download the blockchain for the first time when using original client.
2) the long needed to download the blockchain for the first time when using original client.
The most annoying problem I have with bitcoin is when I was introduced to bitcoin it was preety stable in $200-250 range but now it is a lot more volatile than before, plus also the confirmation time sometimes it takes more than 5 hrs for 3 confirmations, but loosing on the possibilitiesthat bitcoin brings to me these are preety small problems.
most of complain is about confirmation time and security of wallets.. if this is not an issue there will be mass adoption
For now i don't have big problem with bitcoin. my problem with bitcoin is the confirmation that take too long to confirm. i'm gambling with bitcoin so it's sometimes take to long to deposit, then my match already play.
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