Bitcoin Forum

Where the fuck is the armageddon parroted by the likes of franky1?

Transactions are working fine. Litecoin even made it into the history books by performing the first lightning network transaction.

There's even a $1,000,000 bounty to test segwit security:

http://www.bitsonline.com/litecoin-million-challenge-segwit/

Segwit = safe scaling solution that unlocks tons of cool features

Anyone blocking segwit = absolutely retarded, has bricks for brains or is getting paid to do so.

yes, it's true ... and segwit work since almost 2 years on the TESTnet of Bitcoin.  :-\
miners are RACKS.  >:(

1. litecoin is not bitcoin
2. shifting the litecoin nodes into a tier network of cludge seemed easy because there isnt many litecoin users
3. you think its perfect. lol. some of the exchanges and explorers havnt even updated and showing funky data
4. even the malicious users cant be arsed to mess with litecoin because its worthless hense why theres only an average ~50tx a block
5. litecoin got it activated due to being centralised already. bitcoin requires alot more work to set up its tier network. bitcoin is not like litecoin.
6. just look at how many people are using litecoin segwit keys.. literally no one. they dont even understand it to use it.

just wait for the bug where things need to downgrade or replay attack from a native pool using an unconfirmed segwit tx.

Would be interested to hear about this, I mean LTC is going just fine right?

Not like I know enough information to say if franky's points are valid... except #4. there's 1 million dollars worth of LTC for 10 malicious users to gang up and claim $100,000 each. That's still a nice amount, definitely not worthless. Dump it for BTC if so:)

Invalid, in all material respects for the testing of the case of segwit or not [false non equivalence]
[/quote]


No it does not scale that way, individual actors are free to join and update.

The words perfect were not uses, rather that the LTC network was fine. Also Exchanges are not the LTC network.

This is not a valid argument you cannot not know unkown actors motivations

consensus to upgrade is not equal to centralized. Also your confusing runing a version of software on a network rather than the decision to do so

well it new what do you expect? BTC in 2009 was new as well who was using it then?



not valid to make until ex post facto.


So I am interested in actual arguments but these were not.

After the activation i thought the price would sky rocket,but that did not happen and we saw a correction,what are the real improvements and is it evident to see the difference with the user base it has,i hope we could see another rally pretty soon in litecoin.

if you know the anyone-can-spend attack vector, you know its about replay attacking an unconfirmed tx to mess with the destination.
this is why core will not allow users to test segwit on bitcoin mainnet today even if everything is supposedly "backward compatible".
many people have said to gmax to go ask BTCC to make some segwit blocks today to show how backward compatible things are.. they refused.

it involves tier networks and NOT relaying unconfirmed tx's to non-segwit nodes due to the anyone-can-spend attack vector

but give it time for people to start manually playing around and copy/pasting the unconfirms (replay attack) to then mess with them and then putting them into native blocks and we shall see.

the real funny thing is...
if litecoin was really fully ready.. the pools in litecoin would all be using segwit keys for their coinbases(blockrewards)
you would spot them because the addresses would start with a 3.. but instead they are still using L addresses (im laughing)

so yea litecoin is not even embracing segwit fully yet..

Unfortunately after segwit activation the real value of litecoin became unmasked after the enthusiasm regarding segwit settled. Since litecoin really didn't need any expansion in transaction capacity, segwit really only offered the malleability fixes and ability to create 2nd layer solutions. Since real trade on litecoin is minuscule, these aren't really needed either.

The actual value of a currency is in its perceived worth and the economy surrounding its use, not its technology nor mining innovations. What litecoin really offers is a testing ground for bitcoin technology, like all altcoins - however all altcoins were borne out of a desire to be yet another first to store wealth currency irrespective of whether it came with new technology or not. Desire to make something valuable isn't enough to make it valuable. Bitcoin obviously has a large speculation economy but has also developed a real economy surrounding it, and that's where its real worth comes from.

Litecoin has done its job of providing yet another testing ground for segwit and its political usefulness for bitcoin far outweighs any intrinsic usefulness litecoin offers. Testing on testnet appeared to not be enough to convince many despite being active for a very long time now.

As for franky1 and friends still being against it, he's either well paid or so fixated on his thought process that he can't see the woods for the trees, or just a plain moron. My best guess is actually a combination of all three since he's still hung up on thinking difficulty doesn't work the way it actually does. I suggest you ignore him and the other cronies like I and many others have done on the forum, and you will find the signal to noise ratio will be 100x higher. Paid activism both covert and overt has been seen numerous times from the BU camp and is a cancer in the community. 3 or 4 full time political activists in a community of hundreds of thousands of neutral people can have far too much influence. I'd ban him if I had the power since he skirts around the edges of the forum rules, double and triple posting, inciting hatred and crafting pseudo arguments to deceive, hijacking threads and so on, however the powers that be probably think banning him would look like they're censuring opposition. Considering how often this forum is accused of censuring opposition it's quite nonsensical. Of course since I have him and the others on ignore, he always gets the last word in on any discussion that involves me, and there is some kind of internet rule that makes people think that if they get the last word in that they've won an argument by default since the opposition does not have a counterargument. Clearly that's not true; I just don't see any point wasting my energy tackling him head on as I have enough to do in the bitcoin space as it is - others who have time and energy to do so, I applaud for debunking his endless trolling.

lol
all i read is
didnt need
didnt need
only offered..

yet even that 'only offered' option isnt being used because even the pools are not using the keypairs..

people have jumped the gun shouting perfect utopia before even seeing it being used or giving malicious people a chance to have a play

Still a novice when it comes to crypto technicalities, so i will just leave the debates to the veterans. From the little i know..it's likely price of Litecoin will skyrocket after it gets the Lighnining Network upgrade. Heard it will make transaction faster. Still very hopeful

if all you care about is the litecoin price. you would get better speculation predictions looking to see if litecoin is even used for proper realworld stuff.
look for merchant adoption