Bitcoin Forum

What is happening with Litecoin segwit activation?

It requires 75% to be activated. I remember last week it was reaching 70%, but as of today it is only 60%.

Can anyone explain why this is the case? All of the sudden miners have decided that segwit is not the way to go? Or some new massive mining pools popped out?

This is a market forces, I think the invisible hands are at work, they want to accumulate before it get activated knowing fully well that the activation is going to cause price pump, so the earlier the better you buy into this

https://i.imgur.com/2I6V0tj.png

SegWit >120%


ACTIVATED!  :P :P :P

Is there a problem with these trackers? Are they unreliable?

No, he just messed with the code.. Thats all.

jihan wu is now mining against it. now charlie lee is talking about a user activated soft fork. i don't know how viable it is but i think they're willing to go where bitcoin isn't.

check out https://www.reddit.com/r/litecoin/

that has plenty of info.

maybe it has a correlation with BU going back to 35% instead of 40%, and after all litecoin don't need segwit it's perfectly fine with the current state of the block limit

totally different mining machines are they not? i assume segwit has taken a hit because wu isn't selling scrypt asics, he's using them himself to block segwit.

segwit's way, way more than scaling. it opens up masses of new things. and even if ltc doesn't need it, and it'll certainly transform it, it's doing bitcoin a massive service if it does manage to get it going smoothly so we can see if it's worth all of this strife.

The hashrate of the non supporting Segwit pools has increased (a lot)
LTC1BTc, Bw.com and Antpool
https://www.litecoinpool.org/pools
Bitmain (Anti Segwit BTC) is probably supplying these pools
While the Segwit Pools hashrate did stay the same

Possible reasons (I'm just echoing what I read)  
- Mine cheaper coins and activate later
- Not supporting Segwit because of Bitcoin mining with Asicboost. Asicboost seems to be incompatible with Segwit
- Ethereum money buying bitmain miners  that are  used  at above pools to Block LTC Sewgit activation.  So ETH can be  first with their "segwit" clone activation.
- ....

Here a fresh and interesting analysis on ASICBOOST problems...
http://www.mit.edu/~jlrubin//public/pdfs/Asicboost.pdf

Looks like there is one villain, and his name is indeed jihan wu.

many traders speculate on LTC Segwit,so the price increase could not deny LTC
but for some of today's drop in prices because they realize that the process is too long,plus more big investors toying with the price of LTC especially investors china

segwit for litecoin has exactly 75% now. Is it going to be activated then?

It needs 2 weeks to lock in. Fingers crossed!

I think the new cycle starts in a few days and then it needs to hold 75% yes.

Segwit on litecoin is a good thing in my opinion. It shows that the litecoin development team is capable of running a non bitcoin clone and keeping the code up to date regardless.

I guess litecoin will reach ATH values in the next weeks if segwit looks like a reality.

Why does it need 2 weeks please ?

https://www.reddit.com/r/litecoin/comments/650f6e/litecoin_segwit_activation_infographic/
although not explained why 2 weeks

It's not actually two weeks and can take longer. The requirement for lock-in is 75% over one 8064-block activation period. In general 8064 blocks happen approximately every two weeks depending on changes in difficulty and hashing power. This is why someone might state two weeks.

An activation period therefore starts approximately every two weeks and likely will be within +/- 24 hours of a two week period. Currently we are near the end of a activation period (at the time of this posting we are about 1.9 days away from the start of the next activation period). Therefore if we continue to exceed the 75 percent requirement for the next 15.9 days lock in occurs. Actual segwit blocks will start approximately 2 weeks after lock-in. So at this moment we are about 29.9 days away from the first segwit block being mined.

With that explanation I haven't really answered your question. In mining there is variance and that is why the percentage of found blocks supporting segwit goes up and down (although conspiracy theories abound). It's possible to exceed the threshold of 75 percent for short periods of time without 75 percent miner support. The programmer needs to pick an arbitrary; but, large enough period that any reasonable person would agree demonstrates consensus on the network. Basically it's a decision that the developers make. They could have picked fewer or greater than the 8064 blocks per activation period.