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Author Topic: When SegWit And Lightning Network Will Be Implemented?  (Read 1419 times)
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February 08, 2017, 05:10:03 PM
 #1

Why does it takes so long?
We need faster confirmations.

Edit:
When Lightning Network will be implemented?
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February 08, 2017, 05:10:38 PM
 #2

Why does it takes so long?
We need faster confirmations.

segwit does not solve that.

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February 08, 2017, 05:16:47 PM
 #3

Why does it takes so long?
We need faster confirmations.

Percentage of blocks signalling SegWit support should reach 95% In order to get SegWit implemented otherwise It won't happen. It's being like two months without any significant changes on the chart , I doubt we will ever get there but as said above that won't make transactions faster but LN will.


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February 08, 2017, 05:17:58 PM
 #4

Why does it takes so long?
We need faster confirmations.

segwit does not solve that.

SegWit add more transactions to the block, that would help.
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February 08, 2017, 05:23:02 PM
 #5

Why does it takes so long?
We need faster confirmations.

Percentage of blocks signalling SegWit support should reach 95% In order to get SegWit implemented otherwise It won't happen. It's being like two months without any significant changes on the chart , I doubt we will ever get there but as said above that won't make transactions faster but LN will.

It can be a long time until something be implemented but it's a good thing too, at least we will have a concrete decision with the agreement of most supporters preventing the bitcoin to split in more different ways, it could be worse for bitcoin as the price could change a lot.
There are much to be discussed yet and maybe more solutions can arise to be discussed too.

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February 08, 2017, 05:23:18 PM
 #6

SegWit will be activated once we reach consensus.
Currently SegWit sits at ~25% of support. Meaning 25% of the blocks mined over a period of time signal SegWit support.
We need around 90-95%, but support has stalled.

SegWit however will not solve slow transaction times, you can read the benefits of it here: https://bitcoincore.org/en/2016/01/26/segwit-benefits/

   
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February 08, 2017, 05:24:14 PM
 #7

Why does it takes so long?
We need faster confirmations.

segwit does not solve that.

SegWit add more transactions to the block, that would help.

firstly segwit guarantee's nothing.
when activated. nothing changes.
users have to wait for yet another implementation release that offers the actual p2wpkh/p2wsh key utility
AT VERY BEST .. IF 100% of users used p2wpkh/p2wsh keys instead of legacy(old) keys, expect maximum of about 4500tx instead of ~2500

but here is the thing
spammers, scammers and bloaters wont use p2wpkh/p2wsh keys. so dont expect 4500tx a block
even moral people take months/years to upgrade their implementations. so even after it activates dont expect noticable rises anytime soon

and lastly. the mempools is very often full of more than 4500tx unconfirmed at most times. so many transactions are still going to be waiting even in the utopian statistic of 100% dream utility.

segwit is just an empty gesture kicking the stone down the road

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February 08, 2017, 05:24:30 PM
 #8

Why does it takes so long?
We need faster confirmations.

Percentage of blocks signalling SegWit support should reach 95% In order to get SegWit implemented otherwise It won't happen. It's being like two months without any significant changes on the chart , I doubt we will ever get there but as said above that won't make transactions faster but LN will.

Then when Lightning Network will be implemented?
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February 08, 2017, 05:34:30 PM
 #9

There's still a lot of debate on Segwit Implementation. Still no consensus. You can do a search in the forum about why Segwit will not solve the transaction issue currently a lot of us experiencing.
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February 08, 2017, 08:34:20 PM
 #10

In my opinion, eventually it will be implemented, even though we're actually seeing a stalemate between "segwitters" and "big blockers".

Big blockers will have no chance to get a majority, because most of the community is at the side of Core. Their only chance was the moderate approach of Bitcoin Classic, but Unlimited is too "revolutionary" and maybe risky for the network health.

Then there will be pressure to Bitcoin once most altcoins, including LTC, will have adopted Segwit.. I consider this only a question of time, as no altcoin would like to stay "behind the times".

Once LTC has adopted Segwit, first of all, there are pools (F2pool) that have announced they will wait for the Litecoin "test" to adopt it also for Bitcoin. Second, a possibly growing competition from a possible "Litecoin Lightning Network" will drive miners to adopt it because they would fear to lose market share to LTC.

ETA? No idea, perhaps 4-6 months from now.


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February 08, 2017, 09:13:26 PM
 #11

stalemate between "segwitters" and "big blockers".

Big blockers

try to use the terms properly.

those wanting dynamic blocks are - "onchain scalers"
those wanting segwit are - "centralist temporal gestures"

after all
the community that want REAL onchain scaling compromised to 2mb for ~5000tx..
while the "centralistic temporal gesturers" want to temporarily give an empty gesture of possible 2.1mb for a possible ~<4500tx. but then later bloat up the same <4500tx count to 4mb without offering more tx.
(confidential payment codes turns a standard tx into something thats 1kb bigger)

EG
"onchain scalers" 2mb=~5000tx (from ~2500tx)

"centralist temporal gestures" 2.1mb=~<4500tx (from ~2500tx)..
then later 4mb for the same ~<4500tx (once they add other features to the tailend of serialised tx data.

emphasising the misunderstanding of 'bigblockers'
2 vs 4. makes "centralistic temporal gesturers" the big blockers. because they want to fill blocks with nonsense features. not lean tx's in their empty gesture of 4mb

again 2 vs 4. which is bigger.

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February 08, 2017, 10:39:08 PM
 #12

Why does it takes so long?
We need faster confirmations.

Percentage of blocks signalling SegWit support should reach 95% In order to get SegWit implemented otherwise It won't happen. It's being like two months without any significant changes on the chart , I doubt we will ever get there but as said above that won't make transactions faster but LN will.

Then when Lightning Network will be implemented?
I may think if Lightning Network will not be implementing soon. https://coin.dance/blocks for activating the lighting network will have needed SegWit to make lightning network is more efficient.


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February 08, 2017, 10:46:03 PM
 #13

It is hard to say how long it will take, but the pressure for a decision is rising, since Bitcoin might fall apart in the end with no change. The more urgent it will become, the more miners will decide for one or the other. I just hope for two things. First that the decision will not be made in a haste, because it is high time. Secondly i hope that Bitcoin will stay united and do not see two or more big active chains.
If they will be implemented at all or when can nobody tell you, but this is a big step for Bitcoins future and right now this looks not to promising.

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February 09, 2017, 12:08:51 AM
 #14

asking from my ignorance: How we could reach the 95% ?  or Who needs to do something about it? Miners? Nodes?

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February 09, 2017, 12:16:34 AM
 #15

Miners.

But nodes must be ready to accept (completly) the segwit block in her local blockchain ...

So miners wait until nodes are full in segwit compatibility, first.

In usual time, this pass with 3 revisions of the Bitcoin Core client or 6 months.
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February 09, 2017, 12:20:26 AM
 #16

Segwit will be implemented in 4-5 months, we get approximately 15% of miners support in a month. Lightning Network will be implemented after segwit because Segwit makes it easier.
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February 09, 2017, 08:43:57 AM
 #17

Segwit will be implemented in 4-5 months, we get approximately 15% of miners support in a month. Lightning Network will be implemented after segwit because Segwit makes it easier.
LN will be implemented after SegWit because LN needs SegWit in order to work. So this has nothing to do with "makes it easier". Your 4-5 months are just the outcome if we have 15% new support of mines per month, which seems not to realistic for me. So far we had a steady rise followed by a stagnation. This makes me assume that we will see the stagnation for a while and then a sudden jump or drop. But how long this stagnation will go on is beyond my or anybodys ability.

kiklo
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February 09, 2017, 09:12:50 AM
 #18

Segwit will be implemented in 4-5 months, we get approximately 15% of miners support in a month. Lightning Network will be implemented after segwit because Segwit makes it easier.


Hmm,  Nope

Segwit received ~30% in Nov 2016,  3 months later it is still under 30%,
so in 3 months no one else is supporting it , beside the original idiots.

It is dead on arrival, Chinese Miners control ~68 % and they are not voting for it.


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February 09, 2017, 03:05:11 PM
 #19

"onchain scalers" 2mb=~5000tx (from ~2500tx)

"centralist temporal gestures" 2.1mb=~<4500tx (from ~2500tx)..
then later 4mb for the same ~<4500tx (once they add other features to the tailend of serialised tx data.

OK but here you are comparing different things ("standard transactions" with "confidential transactions"). But that all wasn't my point. I think simply that Core has more backing by the community at this moment. I'm not totally against the Bitcoin Unlimited proposal - it looks like a smart way to reach a consensus about future block size increases - but it would need much more testing until it has a chance to be adopted.

The "altcoin -> bitcoin adoption theory" could, in theory, also be true for Bitcoin Unlimited. But Unlimited offers less advantages to altcoins: only a bigger block size, no malleability fixes (malleability fixes are the main Segwit advantage for altcoins because they would benefit enormously from atomic cross-chain trading, and they at the moment don't need bigger blocks).

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BillyBobZorton
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February 09, 2017, 06:12:24 PM
 #20

Let's hope that it's sooner than later. We NEED segwit in order to keep improving the system, not only to scale, but because all of the improvements it brings in order to properly allow for stuff like improved LN and sidechains.

Segwit only brings good things to bitcoin, anyone arguing otherwise is a troll.


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