What changes do you want to see in Bitcoin in the future??

OP
OP
sincerem

sincerem

VIP Contributor
I think that Bitcoin being accepted as a legitimate currency around the world will have it's pros and cons ,but the advantage will surpass the disadvantage ,because of the nature of Bitcoin. With Bitcoin being accepted worldwide , it will offer everyone opportunity to buy a particular product at the same rate and price irrespective of the strength of the country's fiat currency. Secondly , the world will have a sort of currency that will be used for trade anywhere.

I agree with you on the part that government should not be allowed to have control over Bitcoin ,because they will abuse the platform ,and also apply large taxation to their own interest. They will also capitalize on it's annoymous nature to hide their stolen funds ,and thus they can't be probe for their actions.
The ending part of your article got me feeling hilarious, as you know our self centred politicians will use such avenue to hide their stolen funds and can never be traced cos Bitcoin is decentralized, so they shouldn't give the government full control over the operation of Bitcoin cos they will abuse and corrupt the system too. I will prefer they stay clear from given the government 100% license order to oversee the usage of Bitcoin. If Bitcoin eventually become a global coin, atleast all transactions will be paid using one currency and not using different fiat currencies like the one we experience here online.
 
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Josemendez

Valued Contributor
The ending part of your article got me feeling hilarious, as you know our self centred politicians will use such avenue to hide their stolen funds and can never be traced cos Bitcoin is decentralized, so they shouldn't give the government full control over the operation of Bitcoin cos they will abuse and corrupt the system too. I will prefer they stay clear from given the government 100% license order to oversee the usage of Bitcoin. If Bitcoin eventually become a global coin, atleast all transactions will be paid using one currency and not using different fiat currencies like the one we experience here online.
Am even very much scared already that with the rate at which Bitcoin is rising and the popularity it has brought alongside , they might have considered Bitcoin already ,and may have already started using it .
The EFCC Of our own country may not be able to fight them off because of the annoymous nature of cryptocurrency. And even when they transfer their coins to local currency , they can easily defend it in court ,as money they made online trading ,whereas they are all stolen money from the public treasury.
This is the only sad part about cryptocurrency . If there is any new thing I want , is for wallet with amounts higher than $5000 to have kyc verification, so that we will know the good ones and the bad ones alike .and fraudulent activities controlled as well .
 
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OP
OP
sincerem

sincerem

VIP Contributor
Am even very much scared already that with the rate at which Bitcoin is rising and the popularity it has brought alongside , they might have considered Bitcoin already ,and may have already started using it .
The EFCC Of our own country may not be able to fight them off because of the annoymous nature of cryptocurrency. And even when they transfer their coins to local currency , they can easily defend it in court ,as money they made online trading ,whereas they are all stolen money from the public treasury.
This is the only sad part about cryptocurrency . If there is any new thing I want , is for wallet with amounts higher than $5000 to have kyc verification, so that we will know the good ones and the bad ones alike .and fraudulent activities controlled as well .
Fantastic you said wisely, it will be hard to control the level of fraud that our so called politicians can manipulate. And it will be hard to question them about such high funds accrued through Cryptocurrency co they will brag its money they got through online. Online work like, trading on Cryptocurrency and forex trading, it will be hard to curtail such fraudulent activities. Unless the KYC you said about, is introduced and curtail such money laundry by putting the maximum of money to transact $5,000. Anything that exceeds such amount will need to go into verification and identify who owns that account, it will help to reduce fraud within Cryptocurrency, you're right.
 
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Yugocean

Moderator
Staff member
I would like 3 changes
1) Bitcoin should adopt POS function, even if this requires to bring BTC 2.0 on the cards like ETH 2.0. This will make us earn BTC for just holding them in our wallet.
2) Easy mining - BTC mining is impossible, it should be made easy, somewhat to bring back lost coins which are burned due to sending to wrong address or loss of someone's private keays.
3) Low fees / fast transaction - Transaction of BTC costs high as blockchain reason, also some time it takes hours even for simple transaction., it should be low cost and fast.
 
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OP
OP
sincerem

sincerem

VIP Contributor
I would like 3 changes
1) Bitcoin should adopt POS function, even if this requires to bring BTC 2.0 on the cards like ETH 2.0. This will make us earn BTC for just holding them in our wallet.
2) Easy mining - BTC mining is impossible, it should be made easy, somewhat to bring back lost coins which are burned due to sending to wrong address or loss of someone's private keays.
3) Low fees / fast transaction - Transaction of BTC costs high as blockchain reason, also some time it takes hours even for simple transaction., it should be low cost and fast.
Wonderful explanation @Yugocean, I really appreciate your suggestion. If all this features gonna be added to Bitcoin it will really enhance it's reputation. And more high profile investors gonna come into it and invest heavily too making the price value to grow higher. Also it will make the world to adopt it as means of payment both offline and online since the transaction fees is put stable for everyone to afford. If Bitcoin gonna fasten up the transaction speed make transactions to get the right destination on time without much delay, it gonna be great addition and a plus to its development.
 
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Putta Vince

Verified member
I wish to see Bitcoin getting accepted as a payment method in our country and in other low tier countries as well. Bitcoin ATM is what I really love to see in my locality by next decade or so at least. With respect to the characteristics of bitcoin , I wish bitcoin network charges less transaction fees like in xrp chain.
 
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btaliat

VIP Contributor
To be frank, many posters have said most of that I to see about the bitcoins wishes for the future. I wish to see bitcoins maintaining its number one position without any coins competing with it. I will like its gas fee to be reduced and get its transactions time faster to be confirmed.
 
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MOSIUR

Verified member
Bitcoin is the most famous cryptocurrency and it is a great issue, especially in online deals. Some countries have a good eye on Bitcoin and they want to add it to their main currency to run financial activities. On the other hand, some countries have not had such a view yet. Rather, they want to ban it on a lame excuse for a money-laundering of bad people. But now, I see the popularity of Bitcoin growing higher than before and I also want this positive change to continue.
 
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Ahmedo24

Valued Contributor
It will be very wonderful if the Bitcoin transaction fee is reduced to the bearest minimum even when the market is in bullish the transaction fee shouldn't go very high so that people can use cryptocurrency of Bitcoin in particular to buy stoves online easily without paying huge fee, if this is done other coins will follow suit.
 
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Putta Vince

Verified member
It will be very wonderful if the Bitcoin transaction fee is reduced to the bearest minimum even when the market is in bullish the transaction fee shouldn't go very high so that people can use cryptocurrency of Bitcoin in particular to buy stoves online easily without paying huge fee, if this is done other coins will follow suit.
Sometimes the bitcoin fees is very low , just like $1 or less. I recently heard an article somewhere where billions of dollars worth bitcoin was sent with just $0.7 bitcoin fees. Off course , the fees is high when there are more transactions involved in the network and when the price is also high.
 
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Ahmedo24

Valued Contributor
Sometimes the bitcoin fees is very low , just like $1 or less. I recently heard an article somewhere where billions of dollars worth bitcoin was sent with just $0.7 bitcoin fees. Off course , the fees is high when there are more transactions involved in the network and when the price is also high.
Yeah you're absolutely right when the price of Bitcoin Is on the rise that is when there is bullish Market the transaction fee is usually very high except for a few hours where you see it very low which is very rare. then those people that send huge amount of money usually feel little to no effect as regards the transaction fee.
 
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Putta Vince

Verified member
Yeah you're absolutely right when the price of Bitcoin Is on the rise that is when there is bullish Market the transaction fee is usually very high except for a few hours where you see it very low which is very rare. then those people that send huge amount of money usually feel little to no effect as regards the transaction fee.
Yeah , but there are platforms aka micro wallet like faucetpay that charges only $1 of bitcoin fees for transacting any amount , though it takes 4-5 hours to get 1 confirmation , it's still a good idea to use that platform. But all other exchanges or platforms charge big fees irrespective of bitcoin price or network congestion. Though in wallets , the fees vary timely.
 
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Alexandoy

VIP Contributor
I have not heard of a Bitcoin ATM here and although I know there are investors but not really popular like in the US. Maybe when Bitcoin becomes truly global then we can consider it as a big industry that can create employment. Trading is also an industry in itself and I'd say it will be at par with the stock exchange that is regulated by the government. That's what I want.
 
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Ahmedo24

Valued Contributor
I have not heard of a Bitcoin ATM here and although I know there are investors but not really popular like in the US. Maybe when Bitcoin becomes truly global then we can consider it as a big industry that can create employment. Trading is also an industry in itself and I'd say it will be at par with the stock exchange that is regulated by the government. That's what I want.
It is very possible that your country has not fully legalize cryptocurrencies to boost their activities in your country such that cryptocurrency investors or cryptocurrency exchange platforms could be motivated to launch bitcoin ATM but just like you said with time every country will have enough bitcoin ATM for cryptocurrencies transactions. The ecosystem is gradually growing.
 
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dagm

Active member
It might be actually extremely challenging for bitcoin to end up being a worldwide Money due to the unstable attributes of the coin , certainly not many establishing as well as under developing nations can easily endure the unstable attributes of Crypto moneys typically. You can easily picture the significant accident bitcoin for example invited the final 72 hrs , it went down coming from $41,000 to $33,700 as well as slowly recuperating rear. It an expanding economic climate it will certainly certainly impact their tasks.
Exactly just what I want to view in bitcoin is actually for the deal charge or even be actually repaired completely to ensure that individuals can easily invest bitcoin quickly on also extremely inexpensive commodities.
 
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Ahmedo24

Valued Contributor
It might be actually extremely challenging for bitcoin to end up being a worldwide Money due to the unstable attributes of the coin , certainly not many establishing as well as under developing nations can easily endure the unstable attributes of Crypto moneys typically. You can easily picture the significant accident bitcoin for example invited the final 72 hrs , it went down coming from $41,000 to $33,700 as well as slowly recuperating rear. It an expanding economic climate it will certainly certainly impact their tasks.
Exactly just what I want to view in bitcoin is actually for the deal charge or even be actually repaired completely to ensure that individuals can easily invest bitcoin quickly on also extremely inexpensive commodities.
You're absolutely right because developing economy can easily crush when the value of cryptocurrency or Bitcoin in particular crashes so this will not make it an easy way to legalize it use or make it a legal tender but I believe that if government of different countries legalize the use of Bitcoin on citizens wish for transaction, it will be better
 
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