If LTC succesfully implements SegWit, will and should BTC follow?

[paul gatt]

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.

[eternalgloom]

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.

[iamnotback]

LTC ... and I'm certainly hoping that once segwit gets activated (almost certain that it will at this point)

Very unlikely at this point in time.  The LTC chart is preparing to REKT everyone.

[BitcoinHodler]

LTC ... and I'm certainly hoping that once segwit gets activated (almost certain that it will at this point)

Very unlikely at this point in time.  The LTC chart is preparing to REKT everyone.

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?

[crazyivan]

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.

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.

[European Central Bank]

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.

[crazyivan]

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

People simply want to reinvent BTC.

[Rahar02]

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

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.

[crazyivan]

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.

[crazyivan]

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?

[cellard]

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?

I believe so.

...

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

Evidence that I am always correct:

Segwit will be a disaster. I am not going to support it on BTC because I am a bitcoin HODLER. Meanwhile, I do not have a single litecoin.

And contemplate what the above truly says. What does it say about where scaling with not be activated.

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.

[rytyr]

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.

[Pattberry]

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.

[cellard]

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.

[webtricks]

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

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.

[overboost]

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.

Remember Bitcoin is made by the elite for the elite.

Just an opinion... I believe bitcoin was made by the elite for the digital tracking of the sheeps.

I believe the money of the shadow elites is gold, and they are hoarding over 90% of it in subterranean safes.

The elites are most proficient in persuading us in exchanging fake wealth for real wealth.

It started with paper claim/paper money for gold.

Soon it will be digital money for gold.

You won't be able to transact in BTC on chain. I explained that to you before.

There will be digital currencies and they will be regulated like 666, and you won't be able to transact on chain in Bitcoin which won't be regulated.

Satoshi designed it this way and even @dinofelis admits he did, but somehow @dinofelis can't see that such a design forces the masses off chain into the totalitarianism of 666 regulated currencies.

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

[Harry Callahan]

Well, it all comes down not to tech solutions. It all comes down to greed.
People simply want to reinvent BTC.

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.

[dothebeats]

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.

[cellard]

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.

[niisarearning]

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 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 .