What's your biggest problem with Bitcoin - page 96.

cjmoles

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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.

ranochigo

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Crypto Swap Exchange

Quote from: elvizzzzzzz on October 30, 2015, 05:18:21 AM

I have bitcoind on my laptop.

Every six months or so, I run bitcoind to update the database.

It takes over two weeks to update at present, slowly taking longer to complete.

So, 2-3 weeks to complete a transaction?

Why are you still using Bitcoin Core? Use SPV clients like multibit or electrum. They can do the same thing without so much diskspace. Not much security is compromised either.

IMO, the problem about Bitcoin is the adoption rate and the volatility of the price. The volatility of the price does influence the adoption rate though. With less places accepting Bitcoin, the adoption rate would increase slowly. The volatility of the price would make people think twice before investing in Bitcoin. This is a huge problem that can't be solved in the short term.

elvizzzzzzz

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I have bitcoind on my laptop.

Every six months or so, I run bitcoind to update the database.

It takes over two weeks to update at present, slowly taking longer to complete.

So, 2-3 weeks to complete a transaction?

harizen

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For support ➡️ help.bc.game

Biggest problem is hard to speculate especially now lol.

Every hour Im watching for the price chart to think of my next move. Damn the whole time of the day I always looked at the chart that I normallly didn't do everyday to watch the latest trend. I don't want to missed the action today in bitcoin price.

Blue_Tiger73

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The biggest problem that I have with bitcoin is the transaction times. Most of the time I have to wait like half an hour for my transaction to go through. There was one occasion where I had to wait 3 hours. Also a lot of websites require more than 1 confirmation which is soo annoying as it normally takes over 1 hour.

Another thing that also worries me about bitcoin is the security. I've seen some occasions where people's accounts have got hacked and their money stolen. Online wallets are convenient but dangerous for your balance.

CoinThug

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Well I don't have a problem with it, just need to be careful what your a doing with it.

Andrelvogue

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For me only the mining.

coinplus

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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.

cjmoles

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Activity: 1176

Merit: 1017

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.

Amph

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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

if it was cheap bitcoin was doomed, bitcoin is mean to be expensive in the future, and there will be those that will buy even at 10k, but a less amount

everything will be the same as now, there will be a leveling

Cereberus

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Quote from: owm123 on October 29, 2015, 11:48:47 PM

For me personally the problem with bitcoin is that it is not anonymous (http://www.bitcoinisnotanonymous.com/), at least not yet.

The thing was a while ago it was being toted as an anonymous way to send e-currency(on a blockchain). We all know that is false. Anyone's tx can be traced.
But if the masses believe this, let them. It will just be a novel way to make payments and adapt it their daily lives.
Ignorance is bliss Sad

e1ghtSpace

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Crypto since 2014

Quote from: owm123 on October 29, 2015, 11:48:47 PM

For me personally the problem with bitcoin is that it is not anonymous (http://www.bitcoinisnotanonymous.com/), at least not yet.

Yeah this is my problem too. I doubt we can do anything about it unless we switch to an altcoin.
Maybe ETH or Tau Chain / Zennet?

owm123

sr. member

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For me personally the problem with bitcoin is that it is not anonymous (http://www.bitcoinisnotanonymous.com/), at least not yet.

owm123

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Quote from: intristin on October 29, 2015, 11:37:00 PM

That I still can't buy Milk, eggs, bread, toilet paper, or beer with it at the corner store. If I could I would close my CitiBank account and convert all my money to bits.

How would you imagine it to work? Buy milk, and then wait 10 minutes or so (or 1h as some bitcion retailers do) at a cashier for confirmation of your payment?

intristin

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Digital Credits

That I still can't buy Milk, eggs, bread, toilet paper, or beer with it at the corner store. If I could I would close my CitiBank account and convert all my money to bits.

CasioK

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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

These are the some real hurdles we usually face every where especially along with new technology. But the light weight wallets or online wallets are greater solutions for this kind of initial pitfalls. So, I believe there would be solution for almost all the problem.

jaberwock

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

sadly there is nothing that the devs can do about it

addy boy

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*Poor mobile platform support*

Since last year i Faced One Problem

Here Are my Problem

Apple has taken a proactive
stance towards making sure that users cannot send bitcoin via wallets in its App Store.

Furthermore, Google does not allow in-app
payments with bitcoin.
Although this has not deterred some developers from creating mobile applications for bitcoin, it’s harming the ecosystem. These larger technology companies do not want to compete with bitcoin. So they do the same thing as restrictive government and use their power to regulate it out of existence – within their ecosystem, anyway.

bankingbtc

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price fluctuation

hangar18

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The biggest problem for me is Transaction time and not have much merchant in my country to accept BTC

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