Bitcoin Forum

Hey guys,

the main question of the day is LTC Segwit activation, as I see, the support is over 80% ATM and this has affect the price big time, LTC price has skyrocketed recently.

Once this gets implemented, hopefully without issues, would this be a signal what road should BTC take? Would this finally close mouths of BU supporters? Finally, would this be a sign what would happen to BTC price once this scaling issue gets resolved?

Thx

And when I am correct yet again, will you understand you were incorrect and you didn't pay attention?

at the very least i think it will lead to some clarity. so maybe miners make up their minds faster.

i say that mostly because of two things:
1) litecoin is a copy of bitcoin with little difference. so SegWit and what it really does can be seen on a live, real coin (not just testnet) to some extent. and that can help with make up minds!

2) mining pools such as F2Pool (which is signalling it right now) are mining both litecoin and bitcoin.

I support Sigwit because it would allow small companies like coffee shops to set up side chains to handle micro transactions again.
It will help bring an end to transaction malleability attacks over the coming years.
But most importantly it will prevent mining pools from using detrimental mining techniques like mining empty blocks or worse bloating the blockchain with fake transactions just to increase efficiency.

If they're done testing it in LTC and see some good resutls they would probably implement it in BTC as well.
If UASF reach 95% and segwit is implemented bitcoin should break the $1400 barrier.

I believe so.

In other words, I believe bitcoin will have segwit to facilitate off-chain transactions that need speed of confirmation on daily petty purchases (i.e. buying a cup of coffee).
Those that don't wish to use segwit and willing to endure the long confirmation may do it without the segwit.
Bitcoin infrastructures and networks are very much in place for retail participation compare to litecoin, thus in my opinion it would be a hassle to rebuild the same retail structure and network in place just to cater to litecoin expansion when almost everything is already in place for bitcoin.

Anyone thinks I am wrong can furnish me the contradicting evidence.

well litecoin doesn't have other competitors in choosing what to do next for scaling right? i mean they don't have litecoin unlimited, they don't even have any scaling issue, therwfore it's a different story then bitcoin

hopefully miners recognized that BU was a wrong way to scale and will choose segwit UASF will force this nayway, i also don't believe that they were doing it to cause fud and buying back cheap coin, mining have all the interest to see bitcoin increase

Implementation of segwit in LTC and BTC are two different things so if segwit get activated in LTC successfully i don't think support for segwit in BTC will grow significantly. However it is true that if this activation works like expected than few miners may start signalling segwit in bitcoin too.

Activation point for segwit in BTC is 95% which is insane and can't be reached.

Evidence that I am always correct:

I knew you will reply.
We will see who will be right.
Let's just hope we don't need to wait too long for it.

It's cool to see LTC being used for something.. well, something other than arbitrage anyway. Even if it just acts as a BTC testnet it still breathes new life and purpose into the ltc network. Strange things abound in crypto and I don't think it's inconceivable that LTC could end up being the student that becomes the master. We could be witnessing the first steps in this process.

Support have grown to over 80% right now but segwit is not activated yet how much more block need to be mined before segwit will come in action. Is it after current block range/period ends?  ???
http://litecoinblockhalf.com/segwit.php

It requires 75%+ for a full difficulty adjustment cycle, so I doubt it will activate on this cycle which ends within a couple of days. If the signaling support stays at this level, it will be active in the next difficulty adjustment cycle (2 weeks unless litecoin is different), so it will be activated by then end of the month.

I am sorry, did you say something?

I was not paying attention.   :D  :D :D


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FYI:
Not disagreeing with you , but that joke was just too good to pass up. ;)

NOw ,if the LTC can SW succeful is unkown. but i think if it succesfulll,it is a good news to btc.

There is no compulsion that bitcoin needs to follow Segwit activation on Litecoin. If segwit gets activated on Litecoin it would serve as an test platform for bitcoin. If found successful on Litecoin then without any further research can go for the segwit activation on bitcoin.

Lightning Networks off chain transactions are analogous to garbage collection (GC) in programming, in the sense that there will be huge unpredictable spikes in transaction settlement load on the main chain, which will cause the main chain to be unresponsive to other needs during such "hiccups", similar to how your computer pauses if you have too many browser tabs open too long, while the GC mark-and-sweep algorithm attempts to free up memory.

For this reason (and others), LN and SegWit will never get activated on Bitcoin. Bitcoin was designed by the global elite for settlement between $billionaires. They want it to be as reliable as possible. So there is absolutely no way the elite are going to allow anyone to fork Bitcoin. Fugetaboutit.

Litecoin is being prepared to be the scaling coin. Bitcoin will remain the power broker settlement coin.

And nobody can change this outcome. A year from now, all dumbasses will once again realize I am always correct.

I think it will be a nice way to show what segwite is capable of on a high value high volume coin.

Bitcoin will definately not follow soon after, but it will create perspective and may convince nay sayers to accept it after all.

It will convince naysayers that scaling Bitcoin is a very unwise and unnecessary thing, after everyone sees that scaling has drawbacks and Litecoin rises to $100+ (https://bitcointalk.org/index.php?topic=1663070.msg18570571#msg18570571) while Bitcoin rises to $2500+.

Then everyone will start to understand that Bitcoin doesn't need to be used by anyone but the wealthy in order to appreciate in value to $500,000 (https://bitcointalk.org/index.php?topic=1863278.msg18528122#msg18528122).

But I guess a successful implementation of segwit with litecoins will convince many bitcoin miners to start thinking about supporting segwit by leaving off bitcoin unlimited as they will be seeing some proof what is going to happen rather than supporting ever not tested hard fork of BU. So, we can assume the percentage of miner support might get a drastic boost on seeing litecoin's successful implementations. But I am not sure they will start working on implementations once they see more than 51% support from miners in 24 hours block generations.

Segwit is a convenient way for LTC, so it has been accepted by the majority, and of course, when segwit is accepted, the value of LTC will increase, the LTC market will no longer be bored. Again, the market is bustling, people are more oriented to LTC than ever. That's a good sign, it's the beginning of LTC's long-term development. I believe it can be on par with bitcoin.

I was really surprised to see that LTC had passed DASH in market cap and I'm certainly hoping that once segwit gets activated (almost certain that it will at this point), we'll also see a huge spike in Bitcoin segwit signaling.

I think it would be handy in the future if litecoin follows Bitcoin with the implementation of new features and getting them faster by making the threshold lower, like with segwit.
It could have a bright future by just being a 'testing ground' for new Bitcoin features.

Very unlikely (https://bitcointalk.org/index.php?topic=1867030.msg18570676#msg18570676) at this point in time.  The LTC chart is preparing to REKT everyone (https://bitcointalk.org/index.php?topic=1663070.msg18570571#msg18570571).

that is a chain of links to links then some more links and i didn't see any reason apart from a guess could you please explain a bit more about why you think it is very unlikely for Segwit to be implemented on LTC because of a guess?

This only shows people re fed up with these scaling issues and attempts of every dev group to make its own fork of Bitcoin. It also shows weakness of decentralized BTC system as opposed to Etherum and their plan to switch to PoS for example. Every time Vitalik goes to the press and announces something, Ether price goes up.

With BTC is a bit different.

people naturally gravitate towards centralised solutions. we want someone else to do the hard stuff and then follow them. we also want to know that if there's a problem then it'll get solved.

they probably won't realise the benefits of decentralisation until they get massively stung by something that isn't.

i think most of bitcoin's present woes come from multiple competing attempts to centralise it more than it is already.

Well, it all comes down not to tech solutions. It all comes down to greed.

People simply want to reinvent BTC.

If LTC Segwit be activated soon, then that's good to see how it goes on in the next few months and Ltc price may increase as well.
But ltc is defferent with bitcoin which doesn't have scalling issue, I don't think whether Segwit or Bu will be activated on bitcoin as we stuck on this 1Mb block size limit. However, if they don't want or it may impossible to implement those solution, it would be good to have at least 2Mb block size for now.

Well, this story about how Antpool intentionally tried to sabotage LTC Segwit activation in order to stop spillover to BTC Segwit activation only adds fuel to the fire and confirms my theory.

Ok, it s obvious Segwit has made miracles for LTC. Even Coinbase decided to introduce LTC and this is something people ve been waiting for over 3 years.

What s next for BTC?

You were wrong: f2pool is signaling segwit for BTC so this shows miners can change their opinion.

We are still very far from 95%, so I don't predict segwit anytime soon. Until then it's smooth sailing for LTC. It will go ATH hopefully, and will push BTC people to wake up if they don't want to see a flippening, it's then when segwit may get activated in BTC. Until then hold as much LTC as possible.

It does look like segwit is doing good with litecoin as it stands.
With it increasing from $2 two months ago to where it is now at nearly $17 last time I was able check around 4 hours ago.
So this was a test for bitcoin to see if it can be an alternative to what it is doing now with all those unconfirmed transactions just piling up every passing minute. :-\

So you think that the price of a coin determines whether it is a good technology or not. I just want to know what changes are there after implementing segwit, did they completely shifted to segwit or are they still about to implement it. The price of the coin is a secondary thing ,what i want to know is what changes does it make to the network.

Segwit has been locked in, this means the activation of segwit is guaranteed 3 days from now.

Technology advancements provided by segwit are numerous, including Schnorr signatures, MAST, Confidential Transactions and much more, but most importantly, proper and fully functional Lightning Network.

LTC looks good long term, as long as BTC cannot obtain segwit.

I don't know about 'will' but I surely say it 'should'.
I am not a complete Segwit supporter but keeping in mind the scaling issue, undoubtedly Segwit seems a great way out. There are several drawbacks in Segwit which may bring certain unforeseen threat to Bitcoin ecosystem but still I don't wanna loose Bitcoin as a means of micro-payment remittance therefore I support.
I wanna see back legacy of Bitcoin where people could proudly say, "Bitcoin is the cheapest mean of remittance.

These are interesting thoughts. Could be true, or not. Time will tell.

It is not about being greedy,people do have their choices when it comes to crypto currency and we have a lot of options to choose from,why are people involved in this area,every one wants to earn money with a good trade and so you really cannot downgrade people who wishes to have a bright future with the coins they are holding. ;)

Depends on how things would go when it goes live with real world reactions. We all know that litecoin is a copy of bitcoin with pretty little differences. If things go smooth (especially on how it would affect tx and fees), miners might make up their mind faster or until they could really test how well SegWit performs even on stress testing the litecoin network. I could somehow think that some miner groups are just waiting to see real world results of SegWit before casting their vote and not just rely on testnet benches.

The fact that litecoin is basically a copy of bitcoin is precisely a strong selling point of litecoin. Developers can easily port their hard work into litecoin and put it into real life usage and not just on the testnet. This is why litecoin has so much potential above all the other coins that are activating segwit. Those coins don't matter because the code cannot be ported easily, litecoin is like the perfect place to enjoy all the great innovations that segwit is going to give us along with lightning network.

Bitcoin getting segwit? somebody tell me how, because until then, im going to be enjoying LTC going up nonstop.

I am supporting segwit for offchain transaction it will give more adoption for crypto currency but implementing segwit on litecoin will really effect bitcoin? . Not sure but i was watching bitcoin segwit2x implementation form 2017 november when it got cancelled hope in near future it will implemented .