What's your biggest problem with Bitcoin - page 95.

jt byte

hero member

Activity: 994

Merit: 500

Quote from: ranochigo on November 01, 2015, 08:07:05 AM

Quote from: jt byte on November 01, 2015, 07:30:16 AM

Quote from: pjsonowal on November 01, 2015, 06:14:37 AM

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

The confirmation can take even longer than 1 hour sometimes.
When there are some stress test or simple attacks, it may take up to 2 days.
By this the funds are sent back to the sender and you should make again the tranasctions.

1.5hours is the longest I have waited. As long as you pay 0.1MBTC/KB fee, you will be fine with most stress test. It is expensive to execute higher fees ones. The transaction simply gets dropped out of the mempool and you can craft another transaction.

Well yes i have waited around 2 hours too,
But i simple do not care about the transaction fee.
Because i use coinbase for daily transaction and they cover the fees.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: jt byte on November 01, 2015, 07:30:16 AM

Quote from: pjsonowal on November 01, 2015, 06:14:37 AM

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

The confirmation can take even longer than 1 hour sometimes.
When there are some stress test or simple attacks, it may take up to 2 days.
By this the funds are sent back to the sender and you should make again the tranasctions.

1.5hours is the longest I have waited. As long as you pay 0.1MBTC/KB fee, you will be fine with most stress test. It is expensive to execute higher fees ones. The transaction simply gets dropped out of the mempool and you can craft another transaction.

Quote from: Luqman on November 01, 2015, 07:45:53 AM

For me, the confirmations time, I hope Bitcoin adopt VNL Zero time confirmation..

It isn't too much of a risk to take for merchants in brick and mortar stores. Most only requires you to wait for a few seconds as it is impractical to make a double spend then. For online purchases, it isn't too time critical so 1-3 confirmations is reasonable.

Luqman

sr. member

Activity: 826

Merit: 263

For me, the confirmations time, I hope Bitcoin adopt VNL Zero time confirmation..

jt byte

hero member

Activity: 994

Merit: 500

Quote from: pjsonowal on November 01, 2015, 06:14:37 AM

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

The confirmation can take even longer than 1 hour sometimes.
When there are some stress test or simple attacks, it may take up to 2 days.
By this the funds are sent back to the sender and you should make again the tranasctions.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: Amph on November 01, 2015, 03:33:02 AM

Quote from: ranochigo on November 01, 2015, 12:17:53 AM

Quote from: Bud Spencer on October 31, 2015, 07:43:44 PM

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

Why would transaction fees be a problem? Transactions fees are usually very small, maximum I have paid was 0.0001BTC/KB. Credit cards and banks charge more than that. Transaction times is a problem as some online payment gateways required at least 1 confirmation.

maybe he was talking about the stress test event, there must be said also, that in the future, if bitcoin grow big, fees would not be negligeable anymore, they could be a problem

with bitcoin at 10k for example you have to pay $1 in fee already

Mine went through fine with 0.0001BTC/KB. It is very easy for the network to change the relay fees to a much lower one. Blocks will grow bigger and the transaction volumes wouldn't be a problem at all. It could be a problem is mining pool choose to go for a higher fee but that would just put miners away from the pool as they can't earn anything from the transaction fees.

ajun96

hero member

Activity: 658

Merit: 500

Quote from: pjsonowal on November 01, 2015, 06:14:37 AM

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

I dont know much about the it, maybe these were debated yesterday, why bitcoin xt is better

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: ?? on ??

Quote from: Bud Spencer on October 31, 2015, 07:43:44 PM

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

im really agree, its hard to make a transaction with bitcoin in real life and the stores that accept bitcoin is pretty low

Why is it hard to make transactions in real life? I do it from time to time with my phone. I just scan a QR code and then the transactions will be successfully completed. Easier than that isn't possible. I do however agree with you that there are not a lot stores that accept Bitcoin, especially if you search through the stores in your area. You realize that there is a long way to go to make them accept Bitcoin.

pjsonowal

sr. member

Activity: 350

Merit: 250

only the problem i have bitcoin is that sometime it gets confirmation late. I know its not a fault of miners too but its annoying to sit back and wait for the confirmation to come.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: ranochigo on November 01, 2015, 12:17:53 AM

Quote from: Bud Spencer on October 31, 2015, 07:43:44 PM

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

Why would transaction fees be a problem? Transactions fees are usually very small, maximum I have paid was 0.0001BTC/KB. Credit cards and banks charge more than that. Transaction times is a problem as some online payment gateways required at least 1 confirmation.

maybe he was talking about the stress test event, there must be said also, that in the future, if bitcoin grow big, fees would not be negligeable anymore, they could be a problem

with bitcoin at 10k for example you have to pay $1 in fee already

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: Bud Spencer on October 31, 2015, 07:43:44 PM

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

Why would transaction fees be a problem? Transactions fees are usually very small, maximum I have paid was 0.0001BTC/KB. Credit cards and banks charge more than that. Transaction times is a problem as some online payment gateways required at least 1 confirmation.

Bud Spencer

newbie

Activity: 42

Merit: 0

For me it is that it's not that popular and many people have not even heard of it.

Transaction times and fees are also another problem!

Masta Splint

newbie

Activity: 6

Merit: 0

I'd say the biggest problem for me is how long it takes go get bitcoins. Not just that it takes forever for then to accumulate in your account but also that not all the sites send them to your wallet right away. Most of the time you have to wait days to see them appear.

addy boy

full member

Activity: 182

Merit: 100

Bitcoin is not so well-defined as a
currency in comparison to a dollar or yuan, and thus its uniqueness is much
less clear. The currency based on a
mysterious algorithm whose originator is
anonymous. No one really knows whether the algorithm can be trusted to generate Bitcoins as promised, or who would be accountable for errors or frauds; there is no definitive monetary
authority.

Were any problems to occur, a new
electronic currency, perhaps one
vouchsafed in a more transparent way,
might arise.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Quote from: makcik on October 31, 2015, 06:12:54 AM

The biggest problem of bitcoin for me is that there's no official bank or community to look after the problems caused by it. Transaction issues or wallet problems are sometimes ignored by the providers and due to lack of any official forum (there are many unofficial forums), people sometimes get cheated. This is a negative view of bitcoins and needs to be tackled correctly

Having the tag 'official' on bitcoin would give away its decentralized nature. Also, developers do not ignore serious issues regarding wallets/the protocol. Because they have so many things to do, some queries of the users they can't check because of time issues. You can still go and ask questions to forums btw, and you still can get a decent answer.

delliaerd

hero member

Activity: 672

Merit: 500

My serious problem with bitcoin is none other than a way to get it. It very difficult for me although just 1 BTC

makcik

full member

Activity: 140

Merit: 100

The biggest problem of bitcoin for me is that there's no official bank or community to look after the problems caused by it. Transaction issues or wallet problems are sometimes ignored by the providers and due to lack of any official forum (there are many unofficial forums), people sometimes get cheated. This is a negative view of bitcoins and needs to be tackled correctly

lixer

hero member

Activity: 2688

Merit: 588

Quote from: Laosai on October 31, 2015, 01:42:47 AM

Bitcoin really helped me a lot financially and educationally so I dont have any problems with it except on its fluctuating price >.< That was my biggest and only problem with bitcoin so far.

We cannot blame bitcoin for IT'S fluctuating prices. I definitely agree with the that bitcoin has helped many people for their education and for a living. So it's definitely clear that we have no other difficulty or big problem for using it as far as I know.

Laosai

sr. member

Activity: 462

Merit: 250

Bitcoin really helped me a lot financially and educationally so I dont have any problems with it except on its fluctuating price >.< That was my biggest and only problem with bitcoin so far.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: ?? on ??

Quote from: jaberwock on October 29, 2015, 09:27:04 PM

get them is hard and slow and not cheap in most places.

sadly there is nothing that the devs can do about it

Why get them is hard ? I think with your rank in bitcointalk you can easily to get them with signature campaign. Tongue

Signature campaigns, unfortunately have small payouts that are not viable to earn in the long term. Even with lots of postings. The regulations has made it hard for people to buy Bitcoins online with various verification one have to go through.

Quote from: cjmoles on October 30, 2015, 07:02:17 PM

Quote from: coinplus on October 30, 2015, 03:13:27 AM

Quote from: cjmoles on October 30, 2015, 03:06:15 AM

I have a problem with Bitcoin that would be nice to have fixed and could also increase its adoption. My biggest problem with Bitcoin is that I cannot reverse a transaction if I did not receive the goods I purchased. I believe that there are many who feel the same so don't adopt its use because of that problem.

A possible solution could be some sort of key that's transmitted back that would release the transaction once it was complete. For example: I send some amount of bitcoin to an address online for some t-shirts, once the t-shirts arrive, they arrive with a key that I use to release the transaction....the other party would also have the key to release the funds so that both parties have an equality in the transaction....some idea like that would make Bitcoin more attractive to skeptical adopters.

But many people find non reversible for good. In a decentralized system we can not revert a payment. Once sent is sent for ever. So escrow will do the reversing job if you prefer to go with.
When we are not able to find an escrow for our need we must go with trusted sellers or buyers. This will happen with even fiat also. So not a new problem because of bitcoin.

yes....escrow is too much of a burden and that's why some sort of smart contract system would make the technology more attractive and less risky.

2 of 3 Multisig address? Deposit the coins into the multisig address and give one key to escrow, seller and one for yourself. If there isn't any problems, the seller and you can easily just release the coins.

davinchi

legendary

Activity: 2100

Merit: 1058

Quote from: cjmoles on October 30, 2015, 07:02:17 PM

Quote from: coinplus on October 30, 2015, 03:13:27 AM

Quote from: cjmoles on October 30, 2015, 03:06:15 AM

I have a problem with Bitcoin that would be nice to have fixed and could also increase its adoption. My biggest problem with Bitcoin is that I cannot reverse a transaction if I did not receive the goods I purchased. I believe that there are many who feel the same so don't adopt its use because of that problem.

A possible solution could be some sort of key that's transmitted back that would release the transaction once it was complete. For example: I send some amount of bitcoin to an address online for some t-shirts, once the t-shirts arrive, they arrive with a key that I use to release the transaction....the other party would also have the key to release the funds so that both parties have an equality in the transaction....some idea like that would make Bitcoin more attractive to skeptical adopters.

But many people find non reversible for good. In a decentralized system we can not revert a payment. Once sent is sent for ever. So escrow will do the reversing job if you prefer to go with.
When we are not able to find an escrow for our need we must go with trusted sellers or buyers. This will happen with even fiat also. So not a new problem because of bitcoin.

yes....escrow is too much of a burden and that's why some sort of smart contract system would make the technology more attractive and less risky.

Some people may find Escrow so difficult because of the delay it includes. People always look for more instant transactions than getting delayed for than at that event including the security of their money.

Topic: What's your biggest problem with Bitcoin - page 95. (Read 135106 times)