Sleeping giant is awakening?? LTC back to $50 now ??

[iamnotback]

One day it had 100k$ trading volume for 24H, and now it has fucking 21B$ trading volume on btc-e. Talkin about ltc obviously.

Don't enter from here or else you'll get burned. Fontas made a cumback it seems. Don't fall for it.

LTC is a good buy long term for this year but as of now it's bubbled, no way im getting back in under 0.009 hopefully by tomorrow we've corrected around there.

I traded the high 0.0113 and re-entered at 0.01. I am and have been 100% in LTC since $6.50. I invest based on fundamentals and my conviction. I am not really a trader.

I think it may push higher from here, but even if it dips to 0.009, I am happy holding this position, because all BTC holders who want to pay for goods & services have to come to LTC over the next year or so, else they won't be able to afford to transact. Speculation in BTC can of course continue on exchanges at low transaction fees because these aren't blockchain transactions, but if you hold your balances always on exchanges, eventually you will lose your money due to hacks and thefts.

LTC should rise over the next year or so to at least 0.05. It will likely overshoot to something ridiculous such as 0.2, due to way greater fool mass manias and speculation play out.

So 0.01 or 0.009 is splitting hairs. You run the risk of chasing it and never getting on board.

Bitcoin will never get SegWit, Lightning Networks, nor larger blocks. Anyone still talking/writing about that are wasting their breath/fingertips.

Right now we are in the attitude readjustment phase where Bitcoiners slowly pour cold water on their face and wake up to reality.

It even hit 13.5$ on kraken, so it seems the next 2-3 weeks untill segwit's activates the price will further increase. Apparently some people are also selling btc for ltc.

LTC's creator Charlie lee seems to think that the LTC price can increase up to 50$ and he casted a vote https://twitter.com/SatoshiLite/status/849695527268564992

[iamnotback]

And now finally we understand that indeed scaling can only happen on Litecoin:

Re: Well, well, well, now we know what Jihan Wu’s been up to.

Apparently, Jihan Wu has been covertly using some patented exploit called asicboost to gain 20%+ efficiency on his hardware that’s incompatible with SegWit. It all makes sense now. Hope he gets his ass sued off.

Shills care to chime in?

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/013996.html

Yup. Now everything is clear and now we know why everyone must buy LTC.

FUD.  Asicboost been known about for a long time and Bitmain holds the patent in China.

https://www.asicboost.com/patent

All ASIC manufacturing will be in China.

Sorry Bitcoin will never get SegWit nor LN, because Bitmain will block it on Bitcoin. And the whales of Bitcoin will always block larger blocks for the reasons I have explained else where.

But Bitmain is unable to block SegWit on Litecoin, even though they tried to.

Now we know why the other ASIC manufacturers are not against SegWit. They don't want to pay patent fees. Perhaps Baron Wu offered some deals to some others to get them to join his efforts.

[iamnotback]

Now that Jihan and Bitmain have been outed as exploiting a vulnerability in Bitcoin's PoW and that SegWit would have made it impossible for them to continue exploiting this vulnerability the motivations for blocking SegWit and supporting BU have now become very clear. We're going to see a shift in SegWit support in Bitcoin very soon and LTC is also helping here by activating SegWit first. I can see some more room up for Litecoin until around 0.02 or $25, but this will change as soon as Bitcoin starts to make progress towards activating SegWit as well and people start moving back into BTC. If you think BTC will stay behind and never activate SW or LN you are sorely mistaken. Let's see what happens and see who turns out to be right.

We can't get 95% to activate SegWit on Bitcoin without Bitmain's approval. They have every right to protect their patent's value. Those who think Bitcoiners will rally to fight him are socialists and communists, who deny capitalism, game theory, and economic reality.

We can't lower the 95% threshold for Bitcoin, because it will cause too much risk and wild price swings.

Also we shouldn't be putting such experimental shit on Bitcoin. Bitcoin is supposed to remain reliable.

Sorry Bitcoin will remain unmodified, as Satoshi (aka Nash) intended its equilibrium game theory to be a clusterfuck of politics insuring the immutability of the protocol which is what gives Bitcoin its trust and value.

wait...
if his asicboost is rendered invalid, doesn't that make all his ASIC+asicboost hardware useless ( totally useless) ?

As I understand the whitepaper, yes it would because the logic gates for avoiding the optimization have been eliminated which makes it 20% more efficient.

All those who own Bitmain hardware for mining SHA2 coins, must fight SegWit.

If you fork and bankrupt miners who bought hardware, Bitcoin can never again be trusted. It means Bitcoin is run by democracy and not by immutability. Satoshi (Nash) will roll over in his grave.

The whales of Bitcoin will destroy any such fork. I guarantee you that!

Got LTC yet? 

[QuintLeo]

All ASIC manufacturing will be in China.

 To be technical, ASIC miner CHIP manufacturing on the 14/16nm node is in either Taiwan (TSMC fab with input or part-ownership by Samsung) or New York State of the US (Global Founderies, ex-IBM fab) at this point.

 The MINER manufacturing is largely China (Bitmain, Innosilicon, Cannan?, BW.com, some of the announced BitFury makers) but it's also spread out a lot (other BitFury miners out of the old USSR areas, BitFury itself, and at least one other US major farm in the making that has designed and is using it's own chips).


 Bitmain in particular has shown a LOT of issues with getting enough chips to make miners with- when you have LARGE companies like NVidia and AMD having availability shortages on their new cards that they plan to sell millions of, a small company like Bitmain has to settle for what capasity is left over (and keep in mind that AMD has long-term contracts locking in capasity at Global Founderies due to the ex-AMD fabs being part OF Global Founderies dating back to it's foundation and their sale TO GF by AMD - and a lot of the rest of GF capasity is locked into IBM for the SAME reason).

 

 If there is a fork that disabled any current ASIC miners, the result would be to make the coin that forked away almost worthless while there would be another coin that would take over due TO the existing miners not being able to move from the existing blockchain/infrastructure.
 In other words, if any "change POW" fork happened to Bitcoin, it would largely KILL Bitcoin in a hurry - and if it happened to Litecoin, it would kill Litecoin even faster.

[cramcram21]

Is this what we have been waiting for?

segwit and possible privacy getting people back on the train for real or just a small pump today?

This is just the start LTC is finally going back up to its true value. 50$ will be a laughable price in the end because Litecoin is going to take back the second spot on Coinmarketcap and stay there above all the other altcoins.

Yeah I hope that you are right about it,
Lets just watch while this coin gets real pump up and earn through it.

[iamnotback]

The SegWit signaling has fallen back to 68 - 69%. One could postulate that all spare capacity for mining LTC was already brought onboard with the recent price increase. And that Bitmain will gradually eat away at that by producing more L3s which they keep for themselves to mine on LTC and block SegWit. The competitors may not have much resources as Bitmain, or just the fact that the L3 is twice as efficient as the A4 competition. I am not sure if that is the only scenario though. Maybe BTCC hasn't yet unleashed their GPU farm on LTC because perhaps they want to wait for a higher price. Maybe they want to stimulate one more price pump before making their move. There have been hacking attacks that have moved hashrate to different pools. So I don't know if a similar attack has been employed on LTC pools. I noticed some significant change in the LTC pool distribution compared to yesterday.

https://web.archive.org/web/20170406082911/https://www.litecoinpool.org/pools

https://web.archive.org/web/20170405041023/https://www.litecoinpool.org/pools

I had the thought that even if SegWit doesn't get activated, Litecoin has 4X more capacity in its blocks than Bitcoin, so it will have lower transaction fees. Yet I don't know if that would be compelling enough without real scaling.

Edit: Okay I was mistaken in thinking the activation period was only 24 hours. It is 2 weeks:

https://www.reddit.com/r/litecoin/comments/63nb70/how_long_does_it_need_to_be_over_75_before/

Edit#2: Ah I see it must be a specific retarget period!

Lock-in: If 75% of blocks within any retarget period signal support for segwit, it locks-in. SegWit transactions are now opt-in.

Activate: After another 8064-block (roughly two week) retarget period, segwit will activate, allowing miners to produce blocks containing segwit transactions on Litecoin’s mainnet.

Thus perhaps we can expect that BTCC won't throw its GPUs at LTC mining until the next block retargeting! Important find.

The next block retargeting begins in ~30 hours, and the following confirms the two week activation period:

Next block retarget (4 per activation period)

Since a retarget period is roughly 3.5 days, that means the prior 3.5 day retargeting period did not start with ~69% signaling.

So I conclude that we might see fireworks ~30 hours from now.

[iamnotback]

To be technical, ASIC miner CHIP manufacturing on the 14/16nm node is in either Taiwan (TSMC fab with input or part-ownership by Samsung) or New York State of the US (Global Founderies, ex-IBM fab) at this point.

Ah yes, I remember this from when I was researching mobile-CPU friendly PoW hash function designs in 2016, that Samsung had an advantage on 14nm chips for mobile.

Bitmain in particular has shown a LOT of issues with getting enough chips to make miners with- when you have LARGE companies like NVidia and AMD having availability shortages on their new cards that they plan to sell millions of, a small company like Bitmain has to settle for what capasity is left over (and keep in mind that AMD has long-term contracts locking in capasity at Global Founderies due to the ex-AMD fabs being part OF Global Founderies dating back to it's foundation and their sale TO GF by AMD - and a lot of the rest of GF capasity is locked into IBM for the SAME reason).

So doesn't this favor my hypothesis that Litecoin's price rise means ASIC supply is constrained thus hashrate will not rise as fast as price does, and thus older 28nm stock should come into mining and it should signal SegWit, because those guys want to remain profitable at higher prices.

I see that there are still a couple of KNC Titan Scrypt miners for sale on ebay. And as the price is rising the A2 Dominators are becoming viable to mine with. I see a shit load of A2s for sale on ebay at really cheap prices ($200, etc). You can practically but them for nothing and when the price rises enough you could flip then for a profit I bet. I haven't actually run the calculation to see at what price the A2s are generating enough profit.

If there is a fork that disabled any current ASIC miners, the result would be to make the coin that forked away almost worthless while there would be another coin that would take over due TO the existing miners not being able to move from the existing blockchain/infrastructure.

In other words, if any "change POW" fork happened to Bitcoin, it would largely KILL Bitcoin in a hurry - and if it happened to Litecoin, it would kill Litecoin even faster.

Well I thought the whales if they wanted could sell the fork with the ASICs and buy the one with GPUs, but I guess you are arguing that the other speculators wouldn't follow the whales and that there would be two forks that would survive? Eventually the new fork would get ASICs if the whales stayed on it long enough, but it would take a while.

But as blockchain security grows into a $billions annual business, then whales will have more control over ASIC chip manufacturers.

[Ayers]

The SegWit signaling has fallen back to 68 - 69%. One could postulate that all spare capacity for mining LTC was already brought onboard with the recent price increase. And that Bitmain will gradually eat away at that by producing more L3s which they keep for themselves to mine on LTC and block SegWit. The competitors may not have much resources as Bitmain, or just the fact that the L3 is twice as efficient as the A4 competition. I am not sure if that is the only scenario though. Maybe BTCC hasn't yet unleashed their GPU farm on LTC because perhaps they want to wait for a higher price. Maybe they want to stimulate one more price pump before making their move. There have been hacking attacks that have moved hashrate to different pools. So I don't know if a similar attack has been employed on LTC pools. I noticed some significant change in the LTC pool distribution compared to yesterday.

https://web.archive.org/web/20170406082911/https://www.litecoinpool.org/pools

https://web.archive.org/web/20170405041023/https://www.litecoinpool.org/pools

I had the thought that even if SegWit doesn't get activated, Litecoin has 4X more capacity in its blocks than Bitcoin, so it will have lower transaction fees. Yet I don't know if that would be compelling enough without real scaling.

Edit: Okay I was mistaken in thinking the activation period was only 24 hours. It is 2 weeks:

https://www.reddit.com/r/litecoin/comments/63nb70/how_long_does_it_need_to_be_over_75_before/

Edit#2: Ah I see it must be a specific retarget period!

Lock-in: If 75% of blocks within any retarget period signal support for segwit, it locks-in. SegWit transactions are now opt-in.

Activate: After another 8064-block (roughly two week) retarget period, segwit will activate, allowing miners to produce blocks containing segwit transactions on Litecoin’s mainnet.

Thus perhaps we can expect that BTCC won't throw its GPUs at LTC mining until the next block retargeting! Important find.

The next block retargeting begins in ~30 hours, and the following confirms the two week activation period:

Next block retarget (4 per activation period)

Since a retarget period is roughly 3.5 days, that means the prior 3.5 day retargeting period did not start with ~69% signaling.

So I conclude that we might see fireworks ~30 hours from now.

yeah i don't see what is the sense of segwit with litecoin, if they don't need more than the current 4x capacity they have over bitcoin, and you made a mistake about mining and gpu, because litecoin is plagued by scrypt asic, there is no gpu anymore on litecoin, or did they changed the algo maybe? i think they can try to change the algo and make litecoin great and decentralized again, litecoin can take more risky routes than bitcoin, and have a better success than now, litecoin in the past was more popular and asic killed it, i hope they at least think about this possibility

[iamnotback]

Please tell me how is LTC not about to have a massive breakout to the upside (or to the downside?) within 6 hours or less?



Odds are better than 50% for a upside breakout but can even be a false downside with a pullback to the upside:

http://thepatternsite.com/st.html

I sold my LTC. It broke down out of the symmetric wedge. Now we have to see if it is a false breakdown with a pullback. Otherwise it is headed back to 0.0075 or below. The market apparently is very doubtful, so maybe we have to pullback and reload.

[iamnotback]

yeah i don't see what is the sense of segwit with litecoin, if they don't need more than the current 4x capacity they have over bitcoin, and you made a mistake about mining and gpu, because litecoin is plagued by scrypt asic, there is no gpu anymore on litecoin, or did they changed the algo maybe? i think they can try to change the algo and make litecoin great and decentralized again, litecoin can take more risky routes than bitcoin, and have a better success than now, litecoin in the past was more popular and asic killed it, i hope they at least think about this possibility

BTCC could mine with their GPUs at a loss in order to push it over the activation threshold given the relationships involved, which is detailed in the history of my comments.

The argument has already been made numerous times against your scaling myopia. Please read all the history of my comments.

[iamnotback]

Probably my last post on LTC:

^^ Do you watch buy support? It's been building from a low of 1600 this morning to over 2100 BTC now

Thanks I didn't and I should have. I'm not a professional trader. Otherwise I wouldn't have chickened out and sold. My acumen is on analysis of the technology, economics, and game theory. Also I am reasonably good at identify the major trends.

Any way, I re-entered LTC when it moved back above the bottom of the wedge. I am in a solid HODL stance now. I will stop looking at the chart. I will not trade it any more. To $50 or bust.

I posit a reason that Bitmain's surrogate pools will stop blocking SegWit on Litecoin soon.

If you read the entire linked thread, you will catch up on a lot of the details as to why I am nearly certain Bitcoin is going to remain small blocks and never get scaling.

as Satoshi (aka Nash) intended its equilibrium game theory to be a clusterfuck of politics insuring the immutability of the protocol which is what gives Bitcoin its trust and value.

What did I miss?

Nash?

I can't continue providing links to every thing I write all over the place. But one more time, go read this thread and also this post.

[crypticj]

Clevermining just supported Segwit support with Block 1180894 Before they weren't supporting Segwit another 24ghs hash for segwit woot woot!!!


Not a lot but every little bit helps.

75% here we come as long as Antpool doesn't f up the segwit they are trying really hard to block segwit on litecoin.

https://www.litecoinpool.org/pools



"Iamnothere" who owns or controls LTC1BTC pool is that Antpool clone?

[boltz]

raining with sells on LTC

[crypticj]

raining with sells on LTC

Time to buy is when fools are selling... let it drop buying more!!! Fundamentally nothing has changed... we are still inching towards segwit activation unless one of the pools signalling yes switches to NO and we drop.

[iamnotback]

Who else is tired of this shit?

[FOMOFish]

0.016 for ltc this year.

[el kaka22]

I don’t know, I mean $50 is a whole lot, last I checked it was around 10$ish and the bitcoin bull market will keep all altcoins to a minimum increase or even bear markets. That is why I don’t think you should hope for a raise and sell.

I do however believe it is high time people start buying LTC, don’t buy it at once tough, just keep buying at every 2% price drop. That way you can dilute your way and when it increases you can sell. Long term thinking tough, not like a week of result, maybe 4-6 months.

[Nathan047]

Who else is tired of this shit?

Yes, I’m very much tired of that :(. I really hope this will end well and not end up collapsing bitcoin (then most all altcoins will probably follow because the trust of cryptocurrencies will be destroyed).

[iamnotback]

FYI, I sold some STEEM and bought more LTC on this dip.

I will continue to buy LTC with every thing I can find. I have 1 BTC in another account which I will probably transfer to Poloniex so I can buy more LTC.

The volume on LTC is building. LTC has far too high of volume lately to stay so undervalued. The pressure is building. Also, fiat is coming into LTC via Coinbase, so that in my mind is enough to push LTC's price up regardless of SegWit activation.

Litecoin is being added to Coinbase.
https://status.coinbase.com/

My thesis of both the rise of price outpacing hashrate rise due to constrained supply of ASICs, thus driving miners to increasingly signal SegWit, plus my thesis that "It Is Just Time" and that Bitcoin can't rise (willl remain range bound < $1200) until Litecoin catches up to $30+, seems to be holding as truth.The huge volume on LTC tells me LTC has become the #1 altcoin, the pressure is building for another upward explosion in price, and it extremely undervalued. LTC is starting to average more volume than ETC.

meanwhile in Bitcoin land..

BU Support weakens, SegWit stronger (34/30)

https://coin.dance/blocks

It is impossible for it to reach 95%.

Jihan Wu will never allow Blockstream to exist on Bitcoin. And I already explained he has checkmated Blockstream with his Bitmain covert asciiboost hardware spread out all over in the wild, which he can activate at will without even implicating himself nor Bitmain. Perhaps you missed my elucidation on that.

Bottom line is Bitcoin won't get scaling. Litecoin is poised to get scaling.

maybe, but I wouldnt bet my house on that.

I would, if I had a house. Seriously. I am selling everything I can find to buy more LTC.

SegWit approval on LTC is down to 62%. What a show. miners must laughing their asses of.

http://litecoinblockhalf.com/segwit.php

Within the "current activation period", it has been steady at 64-65% since my post which quoted.

Your theory is that they (Jihan and co) will not try to block segwit on LTC but their actions speak the opposite, at least until now. My take is that they are playing with fire and might get burned sooner than they expect.

I also considered your proposition that some of the chinese miners are purposely delaying signalling segwit in order to accumulate at lowest prices possible and thus maximize their profit in the forth coming pump. Actually, I don't see why they wouldn't do this.

Jihan Wu is playing along the game. I never said he wasn't blocking SegWit on Litecoin. But as I wrote, there is 20% of hashrate that was temporarily pulled so the signaling reduced from ~70% to ~62% but since has climbed back to ~64% because more and more other miners are switching to signal SegWit because they are starting to understand the price dip is due to signaling.

As the base of signaling builds back to 69 - 70% again, that 20% hashrate can return and push it over 75%. That might BTCC who is moving that 20% hashrate to and from Ethereum (their GPUs mining farm).

Since BW has stated it will soon signal for SegWit, perhaps some of that hashrate that Jihan had there has been moved to Antpool. Jihan may have been using proxies to hide or influence the decision of other pools. Any way, as I stated before that the hashrate game is too obfuscated for me to determine definitively, but the trend of LTC is now undeniable.

All roads to scaling lead to LTC.

Get on the train or be left behind.

Re: Snapchat first investor thinks bitcoin could realistically be worth $500,000

According to Jeremy Liew, the first investor in Snapchat, and Blockchain CEO and cofounder Peter Smith. In a presentation sent to Business Insider, the duo laid out their case for why it's reasonable for bitcoin to explode to $500,000 by 2030.

A very interesting article at Business Insider that worth reading: http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3

I originally thought BTC might top out below $50k.

But now that I understand that BTC will be exclusively only the settlement layer for the mass scaling which will take place in altcoins, I now think his analysis may be correct.

All the power broker settlement will likely to be on the Bitcoin blockchain which will be the bulk of the fungible capital generated by the masses on the altcoins as dictated by the power-law (Zipf's law) distribution of wealth. Thus Bitcoin is the reserve currency of all the altcoins.

This is why one must stay invested in this sector. Note I do think the altcoins that scale up the masses will see faster appreciation than BTC in spurts, so that is one of way of increasing one's BTC if you are expert at speculation. Otherwise buy and hodl BTC.

[BrainyNetwork]

The volume on LTC is building. LTC has far too high of volume lately to stay so undervalued. The pressure is building. Also, fiat is coming into LTC via Coinbase, so that in my mind is enough to push LTC's price up regardless of SegWit activation.

The volume is indeed insanely high.

http://img4.hostingpics.net/pics/790250LTCApr10Volume.png

$98.5M in the last 24h. LTC Market cap is currently $417M

$98.5M / $417M = 23.6%

I can't see LTC not going up again