What improvement do you want to see Bitcoin make in the future??

sincerem

VIP Contributor
When it comes to changes i want to see Bitcoin record in the future, is as follows;

Stable transaction fees;
I don't like the fact that you'll be sending your low amount of satoshi to another wallet address, still face higher transaction fees. Making you not to activate "send again, cos you'll be spending more than you have in your wallet. Transaction fees should be lowered according to the amount of coins you're sending to another wallet. It doesn't make sense that you're sending a little amount of coins and your gas fee is by far greater than what you are sending.

* Adoption of strong security to curb high level hacking;

This one is another challenge that needs addressing, no single day you won't hear about phishing attacks. Like the one binance constantly experienced earlier before now, when $40 million worth of Bitcoin was hijacked by anonymous cyber criminals. Their should be more means of stronger securities implemented to curb the high level of phishing attacks. Cos no investor will love losing his or her coins in the hands of those criminals.

* Network delay:
the delays in processing Bitcoin from one wallet to another is tiring sometimes. I don't like waiting for hours to see my coins reflect on the destination I want it. They should follow bank system to activate transfer of funds immediately. If you want to receive your Bitcoin faster within short period of time you need to pay extra charges, so the miners can accelerate your transaction process. I don't think that is worth it, in the banking system any amount of cash is processed asap without any recurring charges attached to it.

What other changes do you expect to see around Bitcoin in the future??
 

Josemendez

Verified member
Before I go on to add my own contribution , I want to point out few things to you.

First , as far as cryptocurrency is concerned , there can't be stable transaction fee ,if the network has not been upgraded to ensure faster transaction . This is because , transaction fee is a function of the network congestion , if the network is congested , the transaction fee will be high and vice versa. I think he main solution to it ,is having a faster network. This however is not achievable , especially when a particular coin has many investors and traders ,who engages in hourly trading. The fact that some coins has lower transaction is because of their lower user base.

As for me , I will only be glad to see a feature that can allow Bitcoin transaction to be reversed. This will help curb scamming , as stolen funds upon scrutiny ,can be returned to the right owner.
 

sincerem

VIP Contributor
Before I go on to add my own contribution , I want to point out few things to you.

First , as far as cryptocurrency is concerned , there can't be stable transaction fee ,if the network has not been upgraded to ensure faster transaction . This is because , transaction fee is a function of the network congestion , if the network is congested , the transaction fee will be high and vice versa. I think he main solution to it ,is having a faster network. This however is not achievable , especially when a particular coin has many investors and traders ,who engages in hourly trading. The fact that some coins has lower transaction is because of their lower user base.

As for me , I will only be glad to see a feature that can allow Bitcoin transaction to be reversed. This will help curb scamming , as stolen funds upon scrutiny ,can be returned to the right owner.
I have an interest with your last point, if the transactions one made can be reversed back. Maybe cos of input of the wrong address or stolen funds from anonymous cyber criminals. I remembered when I lost my $25 worth of Bitcoin when I mistakenly transfered it the wrong address of Bitcoin cash address. Up to today the money its still shoeing unspent, meaning it got stucked on the blockchair network. Their is no way for me to get it back cos Cryptocurrency transactions is irreversible. If that feature gonna be added together with stable transaction fees, it will be a plus for Bitcoin and other Cryptocurrencies.
 

KURTAULI

Member
Bitcoin transaction is not fast and cheap we all already know this. We have the example of Bitcoin and can build a faster and more secure network. Bitcoin will always have value because it is the first blockchain app. Many think this is money but I do not see the future of Bitcoin is technology
 

sincerem

VIP Contributor
Bitcoin transaction is not fast and cheap we all already know this. We have the example of Bitcoin and can build a faster and more secure network. Bitcoin will always have value because it is the first blockchain app. Many think this is money but I do not see the future of Bitcoin is technology
If you want your transaction to go faster the way you want it, then you need to pay higher gas fee. That will enable your coin processing to get to the destination you want it to reach with immediate effect. The factor that made the transaction price so high, its the increase investors that is investing into it heavily. As more people invest heavily, the coin will gain value and fame, the price will increase more as more investors are coming through it. As well the transaction fees will also go high, that's why you see Bitcoin transaction fees being so high.
 
Top