Bitmain's plan to stop seg witness. LTC 1st. BTC 2nd. Starting Today 4/9/17.

[Searing]

Bitmain is making a push to stop segregated witness on LTC. Supposedly their 'secret protocol' of asic boost or whatever it is called 'can't' work on segregated witness. As
an aside ..it will work with the proposed new protocol UASF (user activated soft fork) .thus imho....we know know where all the bitmain L3's and the L3+ run of equipment lol

link

https://247bitcoin.net/chinese-mining-pools-move-to-block-segwit-on-litecoin-network/

So Charlie Lee in the video below (around min 55 I think) explains that if seg witness...I think it was also in this video that he says that if it seg witness does not pass
on LTC he will do UASF (User Activated Soft Fork) which ...from what I can tell is just dandy with Bitmain Not sure if in this video. But read/heard somewhere today
that it would be 'weeks' after seg witness is activated that LTC could have lighting network. Again imho that is why bitmain just freaked and did this.

below is charlies video on all this..on segregated witness and USAF (maybe in here lighitng network 'weeks' comment..if not add a post with that link)

https://www.youtube.com/watch?v=5M5RVc0Co0M

Not sure anymore if Charlie in this interview said it would be 'weeks' to get lighting up on LTC ..IF seg witness passes.....thus imho why bitmain just went and freaked

again imho ..bitmain read the lightning stuff and freaked out..they can't let it run on litecoin or bitcoin has no reason not to follow imho

well my 'tin hat' view

others?

edited: forgot a line

[buwaytress]

Don't think Bitmain would ever succeed in "stopping" SegWit, and doubt that's really what they want to pour effort into. Even, if for argument's sake, anyone does succeed in "stopping" SW simply for this ASIC boost, how long will that 30% advantage last before everyone else catches up? I might be naive to think that 30% is nothing in the short term, but it doesn't seem worth doing what the conspiracies are saying they are.

[Searing]

Don't think Bitmain would ever succeed in "stopping" SegWit, and doubt that's really what they want to pour effort into. Even, if for argument's sake, anyone does succeed in "stopping" SW simply for this ASIC boost, how long will that 30% advantage last before everyone else catches up? I might be naive to think that 30% is nothing in the short term, but it doesn't seem worth doing what the conspiracies are saying they are.

I agree..but that is a lot of money the longer they can put this off. If they do manage to make LTC NOT QUITE reach 75% on this now method to get seg witness ..then Charlie Lee has said he will likely
just do the User Activated Soft Fork method to get around the miner's roadblock on LTC. The key thing to remember there is UASF allows the ASIC BOOST to
still work...and bitmain's cheat on mining still is safe and works. win/win.

Probably a 'longshot' for Bitmain on the LTC network. But to me looks kinda likely with the stalemate on the BTC network UASF will likely be the only way to
get seg witness and lighting networks up there.

(gets popcorn..drama/$$$/angst.....)

[philipma1957]

Figured they would block it if they could.

My suggestion to everyone is get some gpus and mine eth or Zec or xmr.

Along with that hold ltc and some btc.

I voted no frigging idea.

I mine four coins and hold five coins.

I wait for some closure as the big boys make Thier moves.

[HagssFIN]

There are some dirty moves Bitmain is making to gain company profit.
I think they are not using their big role for Bitcoin's or Litecoin's best but only think about personal profit. This is bad.

[beltsniffer]

..then Charlie Lee has said he will likely
just do the User Activated Soft Fork method to get around the miner's roadblock on LTC.

I would find something like that far more disturbing than Bitmain or anyone else putting enough hardware online to control 26% of the network (not that I like that option much either). But at least they outlayed the funds to put up the gear that would do this.

Seems to me that any coin doesn't need a supreme potentate to just do what they think is right.

[adaseb]

This all could be to move the markets. By reducing Segwit hashpower, the prices go down for LTC/BTC. So buy a bunch of LTC and then enable SegWit with your pool, and make money when LTC goes up.

Nothing but insider trading going on with Crypto.

[veleten]

the markets are already responding-LTC price is dropping from 12.5$ peak to 10$
but Bitmain can lose a share of the market if they update their next generation ASICs
to support BU and try and stop Segwit
unless they make something revolutionary in terms of  efficiency,of course and try to corner the market

[Searing]

This all could be to move the markets. By reducing Segwit hashpower, the prices go down for LTC/BTC. So buy a bunch of LTC and then enable SegWit with your pool, and make money when LTC goes up.

Nothing but insider trading going on with Crypto.

My bet is on Charlie Lee the dev of LTC and head 'cheerleader' on getting UASF (user activated soft fork) through..supposedly you need what 15% or so ...and we've shown 60% plus want seq witness....

so anyway that is the bet I'm making...also imho why the price is still at around $10 per LTC

[QuintLeo]

the markets are already responding-LTC price is dropping from 12.5$ peak to 10$
 

 I suspect that is a LOT more about BTC price recovering and sucking capitol out of ALL of the altcoins - LTC has been affected LESS the last 2-3 days than most of the other major altcoins, DASH in particular dropped almost 50% from it's peak at one point.

[ComputerGenie]

The poll needs a "This is nonsense and the Tinfoil Hat Brigade should stop spreading unsubstantiated FUD" option. 

[arnbrd]

I thought they could not do anything more and that it was blocked-in, that we had entered in the phase where SegWit was activated whatever would happen, and that it was only a matter of time. I guess that I was wrong. Then, no I do not think that will be able to do anything. They do not have the power on Litecoin that they have on Bitcoin.

[ComputerGenie]

I thought they could not do anything more and that it was blocked-in, that we had entered in the phase where SegWit was activated whatever would happen, and that it was only a matter of time. I guess that I was wrong. Then, no I do not think that will be able to do anything. They do not have the power on Litecoin that they have on Bitcoin.

Unless the community decides to centralize Bitcoin around the Core devs, Segwit is still far more than 50% short of activation.
At what point will people stop living in denial and accept that the majority don't want it and Bitmain is just an easy scapegoat for the minority to blame so that they can get more people on their "side"?

If Segwit works or doesn't work on Litecoin, comparing that to Bitcoin is the equivalent to saying "I know this motor will bolt up to my Chevy transmission because it bolts up to my Ford transmission".

[arnbrd]

I thought they could not do anything more and that it was blocked-in, that we had entered in the phase where SegWit was activated whatever would happen, and that it was only a matter of time. I guess that I was wrong. Then, no I do not think that will be able to do anything. They do not have the power on Litecoin that they have on Bitcoin.

Unless the community decides to centralize Bitcoin around the Core devs, Segwit is still far more than 50% short of activation.
At what point will people stop living in denial and accept that the majority don't want it and Bitmain is just an easy scapegoat for the minority to blame so that they can get more people on their "side"?

If Segwit works or doesn't work on Litecoin, comparing that to Bitcoin is the equivalent to saying "I know this motor will bolt up to my Chevy transmission because it bolts up to my Ford transmission".

I do believe that Bitmain has to do here. Only their excesively high presence on the market would be sanctioned since a long time by any anti-trust policy and I do not talk about the fact that they sell products and make people use them where want, at their pool. This is a bit like if the candidates to an election would be taking charge of the election.

[ComputerGenie]

This is a bit like if the candidates to an election would be taking charge of the election.

NO, it's a bit like:

• You live in State1 and reside in DistrictA...
• DistrictA is mostly Republicans...
• Candidate1 and Candidate2 are running for election in DistrictA in State1...
• Candidate1 is a Democrat...
• You're a Democrat...
• Candidate2 is a Republican...
• You blame a supporter of Candidate19* in State6 because:
  • In State1 and DistrictA, Candidate2 got more votes than Candidate1, and
  • Most people in State6 are members of a 3rd party

*(who is a member of a 3rd party and not even running this term)