Bitcoin Forum
November 17, 2017, 08:18:11 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 [4] 5 6 »  All
  Print  
Author Topic: Litecoin segwit activation. What happened?  (Read 6617 times)
INRI666
Full Member
***
Offline Offline

Activity: 140


AEON. Be one of us!


View Profile
February 16, 2017, 10:45:30 AM
 #61

Little note, by placing your name in the above contract,

If you think you can stay anon, and welch on the wager,

I can use the contract to subpoena BTCtalk to get your real name and address.

So if you are thinking you can welch when you lose, I will out you name home address everything.  Wink

 Cool

FYI:
@INRI666 , is that serious enough for you?  Wink

It will be taken seriously if you asked for an escrow and called the bet. It will be very exciting following the developments and all the drama this will bring us. Don't get me wrong, I'm not here trying to demean you. I find this forum very lively with everything that's going on in here.

Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1510949891
Hero Member
*
Offline Offline

Posts: 1510949891

View Profile Personal Message (Offline)

Ignore
1510949891
Reply with quote  #2

1510949891
Report to moderator
1510949891
Hero Member
*
Offline Offline

Posts: 1510949891

View Profile Personal Message (Offline)

Ignore
1510949891
Reply with quote  #2

1510949891
Report to moderator
1510949891
Hero Member
*
Offline Offline

Posts: 1510949891

View Profile Personal Message (Offline)

Ignore
1510949891
Reply with quote  #2

1510949891
Report to moderator
kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 16, 2017, 11:00:00 AM
 #62

Little note, by placing your name in the above contract,

If you think you can stay anon, and welch on the wager,

I can use the contract to subpoena BTCtalk to get your real name and address.

So if you are thinking you can welch when you lose, I will out you name home address everything.  Wink

 Cool

FYI:
@INRI666 , is that serious enough for you?  Wink

It will be taken seriously if you asked for an escrow and called the bet. It will be very exciting following the developments and all the drama this will bring us. Don't get me wrong, I'm not here trying to demean you. I find this forum very lively with everything that's going on in here.

What makes you think I trust the escrow agent,
I trust a contract that I can sue someone with ,
notice no one has accepted even a 1 LTC wager, so their faith in segwit activation for LTC is not as great as they made out.

 Cool
John Titor
Full Member
***
Offline Offline

Activity: 128


View Profile
February 16, 2017, 01:49:26 PM
 #63

Little note, by placing your name in the above contract,

If you think you can stay anon, and welch on the wager,

I can use the contract to subpoena BTCtalk to get your real name and address.

So if you are thinking you can welch when you lose, I will out you name home address everything.  Wink

 Cool

FYI:
@INRI666 , is that serious enough for you?  Wink

It will be taken seriously if you asked for an escrow and called the bet. It will be very exciting following the developments and all the drama this will bring us. Don't get me wrong, I'm not here trying to demean you. I find this forum very lively with everything that's going on in here.

What makes you think I trust the escrow agent,
I trust a contract that I can sue someone with ,
notice no one has accepted even a 1 LTC wager, so their faith in segwit activation for LTC is not as great as they made out.

 Cool

If it meant you would stop clogging the forum with your inane garbage, I'd give you 10 ltc right now
dwgscale11
Sr. Member
****
Offline Offline

Activity: 331


View Profile
February 16, 2017, 02:03:38 PM
 #64

Little note, by placing your name in the above contract,

If you think you can stay anon, and welch on the wager,

I can use the contract to subpoena BTCtalk to get your real name and address.

So if you are thinking you can welch when you lose, I will out you name home address everything.  Wink

 Cool

FYI:
@INRI666 , is that serious enough for you?  Wink

It will be taken seriously if you asked for an escrow and called the bet. It will be very exciting following the developments and all the drama this will bring us. Don't get me wrong, I'm not here trying to demean you. I find this forum very lively with everything that's going on in here.

What makes you think I trust the escrow agent,
I trust a contract that I can sue someone with ,
notice no one has accepted even a 1 LTC wager, so their faith in segwit activation for LTC is not as great as they made out.

 Cool

If it meant you would stop clogging the forum with your inane garbage, I'd give you 10 ltc right now

Ignore him Cool
John Titor
Full Member
***
Offline Offline

Activity: 128


View Profile
February 16, 2017, 02:41:30 PM
 #65

Little note, by placing your name in the above contract,

If you think you can stay anon, and welch on the wager,

I can use the contract to subpoena BTCtalk to get your real name and address.

So if you are thinking you can welch when you lose, I will out you name home address everything.  Wink

 Cool

FYI:
@INRI666 , is that serious enough for you?  Wink

It will be taken seriously if you asked for an escrow and called the bet. It will be very exciting following the developments and all the drama this will bring us. Don't get me wrong, I'm not here trying to demean you. I find this forum very lively with everything that's going on in here.

What makes you think I trust the escrow agent,
I trust a contract that I can sue someone with ,
notice no one has accepted even a 1 LTC wager, so their faith in segwit activation for LTC is not as great as they made out.

 Cool

If it meant you would stop clogging the forum with your inane garbage, I'd give you 10 ltc right now

Ignore him Cool

I only wish ignoring made it so I didn't have to see his name at all, plus I still have to see his mentally challenged drivel in all the replies.   Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Am I doing it right?
kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 16, 2017, 09:55:37 PM
 #66

I only wish ignoring made it so I didn't have to see his name at all, plus I still have to see his mentally challenged drivel in all the replies.   Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Cool Am I doing it right?


No you Newbie Dumbass,
you are too stupid to do it correctly .

Like so.

 Cool
kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 16, 2017, 09:59:05 PM
 #67

@Dwgscale11  &  @John Titor

Maybe you two Gay Birds should go be alone together, no one wants to watch you make out.
Keep your affections private.




 Cool
kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 16, 2017, 10:04:11 PM
 #68

Segwit is a waste of time!

LTC already has 4X the Transaction Capacity of BTC.

BTC core pushed it as a solution to BTC unconfirmed transactions problems,
by adding segwit they make it easier to run their Offchain Lightening Network (Which is nothing but Banking & Fractional Reserves entering Crypto.)
BTC core wants to use LN to take control of the BTC network , by locking up the majority of BTC Forever.

Quote from: kiklo
LN freezes the amount of BTC on the BTC onchain network,
what is transferred on LN is a representation of that value.
(No Different than when Banks allowed people to trade cash for gold.
The Gold is held somewhere else and the Cash is a representation of that amount of Gold.
Only redeemable upon request.)

IE: Banking (there is no difference between it & LN)

And here is the kicker, if LN is only a representation of a BTC, it is only a matter of time before a fractional BTC onchain is represented by more offchain on LN.
This becomes possible once LN can calculate how many people never remove their Locks on the BTC frozen on the BTC onchain network.
Study the history of Banking , this is exactly how they started.  Wink
 
http://economics.stackexchange.com/questions/6970/when-was-fractional-reserve-banking-introduced
Quote
In the past, savers looking to keep their coins and valuables in safekeeping depositories deposited gold and silver at goldsmiths, receiving in exchange a note for their deposit (see Bank of Amsterdam). These notes gained acceptance as a medium of exchange for commercial transactions and thus became an early form of circulating paper money. As the notes were used directly in trade, the goldsmiths observed that people would not usually redeem all their notes at the same time, and they saw the opportunity to invest their coin reserves in interest-bearing loans and bills. This generated income for the goldsmiths but left them with more notes on issue than reserves with which to pay them. A process was started that altered the role of the goldsmiths from passive guardians of bullion, charging fees for safe storage, to interest-paying and interest-earning banks. Thus fractional-reserve banking was born.
LN          = Goldsmiths, (which became Banks)
LN Coins =  Notes
BTC        =  Gold

 Cool
losh11
Full Member
***
Offline Offline

Activity: 170


View Profile
February 17, 2017, 02:56:41 AM
 #69

Y'all have been spreading misinformation. Why are we, the Litecoin Dev team, adding SegWit?
We want Lightning Networks, Confidential transactions and other innovations.
SegWit allows us to implement these new innovations in a much more simpler manner.

Is it a scaling solution? No.
Are we trying to scale? No, absolutely not. We are nowhere near the point where Litecoin needs to increase transaction capacity.
Does that mean we shouldn't add SegWit?

No. The 'innovation' that SW allows severely outweighs this.

For one, I am looking forward to atomic swapping via lightning networks, where you can seamlessly convert Litecoin to Bitcoin.
This would pave way for cryptocurrencies to be used interchangeably, and simplify a lot of the UX.
kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 17, 2017, 05:29:48 AM
 #70

@losh11

Ok,

Explain why anyone will use LTC onchain, when it will be faster & cheaper to use it on LN.
How are the Miners going to stay in business as the Block rewards diminish and all of the fees are being consumed by LN.

How is that so called innovation going to help the current LTC miners feed their families?

Answer those questions!

or

Just be honest and admit it is a way to take over LTC by making mining completely unprofitable, unless you are LN.

 Cool


FYI:
Segwit has already failed on BTC , it will never reach 95% needed for activation.
Segwit on Bitcoin has Failed , BTC Core has Lost , The Miners have Won
https://bitcointalk.org/index.php?topic=1788448.0
dwgscale11
Sr. Member
****
Offline Offline

Activity: 331


View Profile
February 17, 2017, 01:41:53 PM
 #71

@losh11

Ok,

Explain why anyone will use LTC onchain, when it will be faster & cheaper to use it on LN.
How are the Miners going to stay in business as the Block rewards diminish and all of the fees are being consumed by LN.

How is that so called innovation going to help the current LTC miners feed their families?

Answer those questions!

or

Just be honest and admit it is a way to take over LTC by making mining completely unprofitable, unless you are LN.

 Cool


FYI:
Segwit has already failed on BTC , it will never reach 95% needed for activation.
Segwit on Bitcoin has Failed , BTC Core has Lost , The Miners have Won
https://bitcointalk.org/index.php?topic=1788448.0

Stick to ZEIT Kiklo lmaoooooooooo!!!
ZEIT HAHAHAHAHA
shyliar
Hero Member
*****
Offline Offline

Activity: 725


View Profile
February 17, 2017, 02:22:25 PM
 #72

Litecoin miners have no reason to be concerned about Segwit it's a great improvement. Some folks like to bring up the Lightning Network (which is coming with or without segwit) as a source of concern for miners because it will change the fee structure. This type of thinking assumes that businesses building the LN can survive on these extremely low fees without massive adoption of cryptocurrancy.

Businesses are being built on the concept of the lightning network. It's the lightning network that potentially has some miners concerned when it comes to fees, not segwit. If usage of litecoin does not increase significantly these lightning network businesses will simply go bankrupt (because fees are so low). These businesses are being built on the assumption of adoption and millions of transactions per day. If adoption fails the LN serves no real purpose.

If the LN businesses actually do make money it will be because of large scale usage. That means adoption has happened. Blocks will be more valuable than they are now. Miners make more money as a result. Instead of the pennies that miners currently earn on fees they will earn dollars on the increased value of these blocks.

Some folks will point out that more than 30 years from now that this might create a problem for miners. As if it's reasonable to assume that a miner will give up increasing current income by a large factor now because of what happens 30 years from now. Frankly it's likely some of these miners won't even be alive then.

It all comes down to believing in the potential of cryptocurrency. For miners if adoption happens they win now, If adoption fails the LN is not required and it's mining as usual.

We are currently at 22.6% of the network (113 out of the last 500 blocks) signalling segwit.
dwgscale11
Sr. Member
****
Offline Offline

Activity: 331


View Profile
February 17, 2017, 03:56:09 PM
 #73

Litecoin miners have no reason to be concerned about Segwit it's a great improvement. Some folks like to bring up the Lightning Network (which is coming with or without segwit) as a source of concern for miners because it will change the fee structure. This type of thinking assumes that businesses building the LN can survive on these extremely low fees without massive adoption of cryptocurrancy.

Businesses are being built on the concept of the lightning network. It's the lightning network that potentially has some miners concerned when it comes to fees, not segwit. If usage of litecoin does not increase significantly these lightning network businesses will simply go bankrupt (because fees are so low). These businesses are being built on the assumption of adoption and millions of transactions per day. If adoption fails the LN serves no real purpose.

If the LN businesses actually do make money it will be because of large scale usage. That means adoption has happened. Blocks will be more valuable than they are now. Miners make more money as a result. Instead of the pennies that miners currently earn on fees they will earn dollars on the increased value of these blocks.

Some folks will point out that more than 30 years from now that this might create a problem for miners. As if it's reasonable to assume that a miner will give up increasing current income by a large factor now because of what happens 30 years from now. Frankly it's likely some of these miners won't even be alive then.

It all comes down to believing in the potential of cryptocurrency. For miners if adoption happens they win now, If adoption fails the LN is not required and it's mining as usual.

We are currently at 22.6% of the network (113 out of the last 500 blocks) signalling segwit.

23.4% now. Looks like more miners going online in the pool LYSjBteSBU as we speak.
INRI666
Full Member
***
Offline Offline

Activity: 140


AEON. Be one of us!


View Profile
February 17, 2017, 03:57:24 PM
 #74

Little note, by placing your name in the above contract,

If you think you can stay anon, and welch on the wager,

I can use the contract to subpoena BTCtalk to get your real name and address.

So if you are thinking you can welch when you lose, I will out you name home address everything.  Wink

 Cool

FYI:
@INRI666 , is that serious enough for you?  Wink

It will be taken seriously if you asked for an escrow and called the bet. It will be very exciting following the developments and all the drama this will bring us. Don't get me wrong, I'm not here trying to demean you. I find this forum very lively with everything that's going on in here.

What makes you think I trust the escrow agent,
I trust a contract that I can sue someone with ,
notice no one has accepted even a 1 LTC wager, so their faith in segwit activation for LTC is not as great as they made out.

 Cool

Then you're all talk and trolling. Why don't you declare a bet and make it open to all takers if you're so sure Segwit in LTC will not activate. You're also trying to avoid dwscale's open bet to you it seems.

kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 17, 2017, 11:30:36 PM
 #75

Little note, by placing your name in the above contract,

If you think you can stay anon, and welch on the wager,

I can use the contract to subpoena BTCtalk to get your real name and address.

So if you are thinking you can welch when you lose, I will out you name home address everything.  Wink

 Cool

FYI:
@INRI666 , is that serious enough for you?  Wink

It will be taken seriously if you asked for an escrow and called the bet. It will be very exciting following the developments and all the drama this will bring us. Don't get me wrong, I'm not here trying to demean you. I find this forum very lively with everything that's going on in here.

What makes you think I trust the escrow agent,
I trust a contract that I can sue someone with ,
notice no one has accepted even a 1 LTC wager, so their faith in segwit activation for LTC is not as great as they made out.

 Cool

Then you're all talk and trolling. Why don't you declare a bet and make it open to all takers if you're so sure Segwit in LTC will not activate. You're also trying to avoid dwscale's open bet to you it seems.

Are you just a complete dumbass,

All he has to do is post my previous post with his name and the wager is on.
Here=>https://bitcointalk.org/index.php?topic=1782081.msg17859335#msg17859335

You stupid chickenshit jackass.

 Cool

FYI:
Why don't you post enough to become a full member so your dumbass can give me an free LTC also.
Their are 3 Slots open for Suckers.
kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 17, 2017, 11:32:10 PM
 #76


Stick to ZEIT Kiklo lmaoooooooooo!!!
ZEIT HAHAHAHAHA


You know it is true,

Retards like you can amuse themselves.  Cheesy


 Cool
Zer0Sum
Legendary
*
Offline Offline

Activity: 1204


View Profile
February 17, 2017, 11:55:58 PM
 #77

Don't forget when LTC came out it was not like how it is now.. SCAMMY.
back then there was not 1,000 ICO's a month coming out supported by greedy selfish ADD kidiot Investards flocking here.

You have a selective memory...
Crypto was always about greed and scams...
Let's see 2013... Gox, MCXNow, Mintpal, Cryptsy, ASIC scammers, Silk Road hitmen...

The "good old days" for Spoetnik.
kiklo
Legendary
*
Offline Offline

Activity: 1092



View Profile
February 18, 2017, 12:45:54 AM
 #78

Question for LTC miners

If 75% of the LTC miners are dumb enough to activate segwit.

Once LN has Offchain LTC , that is faster & cheaper than your Onchain LTC,

Why would anyone ever bother to use your Onchain LTC?

I mention this , because when no one uses your Onchain LTC and the Block rewards are dimished, and LN is raking in all of the transaction fees,
How do you expect to make enough money to keep being an LTC miner?


The above questions is what all of these segwit fanatics completely ignore.

There is a reason segwit can't get higher than 30% on the BTC network,
their miners know LN is a hostile takeover of their coin , so they refuse segwit.

 Cool
NattyLiteCoin
Hero Member
*****
Offline Offline

Activity: 780



View Profile
February 18, 2017, 01:18:29 AM
 #79

Kiklo, I'm not a segwit evangelist but I think you have to put it into context as a natural evolution of blickchain technology with specific focus on widespread global adoption. Segwit is not the holy grail, but it has its utility and LTC stepping up to the forefront is good for crypto. If this can't be seen then you're politically compromised. If your an opponent and it doesn't better serve crypto, then it will have empirically shown itself to not do so, and the next trial of technology will move forward. Also, the mining rewards will be relative. If BTC continues to grow, aside from  lock rewards, tx fees may go up an order of magnitude due to traffic and value against the USD, so I think the argument of miner fees being compromised is farfield.

Also, Charlie stated that segwit maybe activated regardless of 75% support, in any regard I've got 50LTC TO WAGER IF YOUR UP FOR IT.
shyliar
Hero Member
*****
Offline Offline

Activity: 725


View Profile
February 18, 2017, 01:41:25 AM
 #80

Question for LTC miners

If 75% of the LTC miners are dumb enough to activate segwit.

Once LN has Offchain LTC , that is faster & cheaper than your Onchain LTC,

Why would anyone ever bother to use your Onchain LTC?

I mention this , because when no one uses your Onchain LTC and the Block rewards are dimished, and LN is raking in all of the transaction fees,
How do you expect to make enough money to keep being an LTC miner?


The above questions is what all of these segwit fanatics completely ignore.

There is a reason segwit can't get higher than 30% on the BTC network,
their miners know LN is a hostile takeover of their coin , so they refuse segwit.

 Cool

As I explained above the concern about fees comes from the Lightning Network not Segwit. The LN can be activated without segwit so not sure why you think it's important to segwit signalling. Also your question why miners don't need to fear the LN was also answered. Please feel free to read and respond.

Maybe you can explain why you think the pennies LTC miners earn on fees should encourage them to abandon the potential to scale and the resulting increase in value if adoption occurs. You might also explain why if adoption fails the LN network is even a threat since all the providers will go bankrupt.
Pages: « 1 2 3 [4] 5 6 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!