F2Pool started signalling Segwit

[franky1]

Charlie Lee works for Coinbase. I presume Blockstream's bankster backers will realize they need to move forward and Litecoin provides them the easiest transition to do so, if they can't attain consensus for activating SegWit for Bitcoin.

DCG which funds blockstream also funds BTCC (main pool involved with charlie lee(bobby lee owned) and was first to flag sgwit. DCG also funded coinbase..

they are one step ahead of you.

Frankly I think it is quite dangerous to activate such radical changes to Bitcoin. Much better to activate on a lesser blockchain so if there are flaws and bugs then Bitcoin isn't as affected. Bitcoin needs to be stable and prioritize continuity, because it is intended to the gold standard of blockchain tokens.

if there is a bug in core. then downgrading back down makes all them new blocks containing segwit transactions become 'anyoncanspends' .. yep segwit is not a safe thing to downgrade in an event of a bug either.

oh and remember is blockstream that want to kill PoW so blockstream having a bug and needing to downgrade is actually even more hassle again..
though blockstream activation uses an exploit to seem easy to activate. what it actually does AFTER activation to the data and everything is not as 'easy' to undo once done.

yet all thats needed for dynamics is just to stop making blocks over 1mb and make blocks at 1mb until fix. = less hassle

LN is all about enabling private fractional reserve banking with centralized hubs. LN just doesn't scale otherwise (due to routing and other issues). That is probably why Blockstream received $70m in funding. Perhaps they thought they could hijack Bitcoin, but they will have to face the reality of the situation.

Ethereum will be shipping a beta of a LN clone soon named Raiden. So the pressure is mounting on Blockstream and also on everyone invested in Bitcoin. Seems to me that Litecoin is the best option available to all affected parties.

im kinda wishing that blockstream just jump over to litecoin and make that their experiment before they go ubercorporate with hyperledger.

letting bitcoin go back to being independant and diverse

lets see how fast lauda deletes my post because it talks about his dear blockstream

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[talkbitcoin]

If segwit is activated on altcoins, but not on bitcoin, do the altcoin developers know how to progress segwit? Could be a great way of lumbering altcoins with technical debt. (assuming segwit isn't forced activated)

there are at least 10 altcoins with talk of SegWit and a couple of them have already activated SegWit.
they are such random coins that i can not remember their names. let me do some search and if i found them i will update here.

edit: topic: https://bitcointalk.org/index.php?topic=1777136.0 (looks like only 1, although i thought VertCoin activated it though!)

[AngryDwarf]

If segwit is activated on altcoins, but not on bitcoin, do the altcoin developers know how to progress segwit? Could be a great way of lumbering altcoins with technical debt. (assuming segwit isn't forced activated)

there are at least 10 altcoins with talk of SegWit and a couple of them have already activated SegWit.
they are such random coins that i can not remember their names. let me do some search and if i found them i will update here.

Groestlcoin is one that is active, but I am led to believe that the segwit wallet is not released yet, so these altcoin cloners have to be more than simple cloners if they are to progress with it.

[iamnotback]

Guys the reason it will be Litecoin and not another altcoin is because of the hypothesis that I explained where miners can make a shit load of money if Litecoin price goes up because the supply of ASICs is insufficient.

I don't see SegWit having a significant impact on Litecoin. I also suspect it's going to settle back into it's long-term $3.50-$4.50 range quickly after the Bitcoin "potential fork" issues get resolved - and I figure that resolution will also hammer current inflated pricing on most of the altcoins that have seen big rises the past month.

The market already knows the BU fork died. But the market knows that we need scaling else adoption will falter due to very high transaction fees and delayed transaction confirmations.

The miners are not going to enable SegWit on Bitcoin because they are making a lot of money by not doing so. Yet some of those same miners and ASIC manufacturers will make a hell of a lot more money by activating SegWit on Litecoin.

It's happening.

Thanks for making me aware of this:

Charlie Lee works for Coinbase. I presume Blockstream's bankster backers will realize they need to move forward and Litecoin provides them the easiest transition to do so, if they can't attain consensus for activating SegWit for Bitcoin.

DCG which funds blockstream also funds BTCC (main pool involved with charlie lee(bobby lee owned) and was first to flag sgwit. DCG also funded coinbase..

they are one step ahead of you.

[franky1]

Guys the reason it will be Litecoin and not another altcoin is because of the hypothesis that I explained where miners can make a shit load of money if Litecoin price goes up because the supply of ASICs is insufficient.

I don't see SegWit having a significant impact on Litecoin. I also suspect it's going to settle back into it's long-term $3.50-$4.50 range quickly after the Bitcoin "potential fork" issues get resolved - and I figure that resolution will also hammer current inflated pricing on most of the altcoins that have seen big rises the past month.

The market already knows the BU fork died. But the market knows that we need scaling else adoption will falter due to very high transaction fees and delayed transaction confirmations.

The miners are not going to enable SegWit on Bitcoin because they are making a lot of money by not doing so. Yet some of those same miners and ASIC manufacturers will make a hell of a lot more money by activating SegWit on Litecoin.

It's happening.

litecoin is not sha256 PoW. its Scrypt.

bitcoin miners wont gain anything mining asics for litecoin.. BTCC wins because they have warehouses of gpu's
segwit on litecoin and exchanges moving to concentrate on litecoin will set BTCC as the top main pool ready to gain top spot.

[iamnotback]

litecoin is not sha256 PoW. its Scrypt.

If you clicked my links, you would see I have written Scrypt multiple times when discussing Litecoin mining/ASICs.

bitcoin miners wont gain anything mining asics for litecoin.. BTCC wins because they have warehouses of gpu's
segwit on litecoin and exchanges moving to concentrate on litecoin will set BTCC as the top main pool ready to gain top spot.

The industry which is the Bitcoin miners is more or less the same industry which are the Litecoin miners. It is all intertwined.

That which you have written agrees with (supports) my hypothesis.

[franky1]

litecoin is not sha256 PoW. its Scrypt.

If you clicked my links, you would see I have written Scrypt multiple times when discussing Litecoin mining/ASICs.

bitcoin miners wont gain anything mining asics for litecoin.. BTCC wins because they have warehouses of gpu's
segwit on litecoin and exchanges moving to concentrate on litecoin will set BTCC as the top main pool ready to gain top spot.

The industry which is the Bitcoin miners is more or less the same industry which are the Litecoin miners. It is all intertwined.

That which you have written agrees with (supports) my hypothesis.

but thinking about for instance ANTPOOL which is sha256 asic. wont gain anything from litecoin because antpools equipment is not scrypt compatible.
btcc has a warehouse of sha asics for bitcoin and a warehouse for scrypt, so btcc is set, ready, and revving to go.
not "miners" as in miners in general/the whole industry.. just btcc..
so the "industry" which you say is bitcoin miners.. wont win..

bitcoin SHA ASIC miners are NOT intertwined with LN..

BTCC (single entity) is interwined not due to technology, but blood...
btcc Bobby lee...  litecoin charlie lee are brothers.

so its not a bitcoin mining industry thing can just mine litecoin thing.
its a BTCC will dominate litecoin due to already having its foot already in the door

...
PS
asic pools like antpool are making most profit on bitcoin because they manufacture asics.
sha is a simple thing to formulate into a chip. scrypt is not so much

so the real winner if litecoin picks up would be AMDATI and Nvidea

[iamnotback]

@franky1 those who manufacture Scrypt ASICs and those who have pre-ordered the new generation of Scrypt ASICs will also profit.

You might be correct that Antpool is the odd man out, but creating more demand for limited fab space probably means their existing stock of ASICs becomes more valuable. When mining farms for Bitcoin (or Litecoin) can't ramp up difficulty fast enough to keep up with price rises, then all existing miners earn more profit throughout the industry.

By eliminating the stalemate on Bitcoin by getting SegWit activated on Litecoin, this frees up Bitcoin to move to $2000+ because scaling will be provided by the ecosystem. And I already explained in the other thread that the tail doesn't wag the dog in finance, thus scaling on Litecoin will drive demand for Bitcoin up by the power brokers who must use Bitcoin (because of the reasons I stated).

I am not sure how Bitcoin traders will initially react to scaling going exclusively to Litecoin, maybe they might sell Bitcoin, but later they will come to understand that Bitcoin grows as its altcoins grow. The ecosystem is symbiotic. MPEx the Bitcoin options and stock exchange was capturing a percentage of all the speculation waves in all altcoin tokens, not just Bitcoin.

the $50 will come down to the Chinese and how they will perform in the following days. it has always been like this.
remember the LTC halving pump? liteocin was on a good path up and suddenly someone over in China let lose of the bags on the market and crushed the price as if they don't know why a slow sell to get most profit means!

but so far we are good and the rise seems to be starting. hope to see LTC go higher, it really deserves it more than the rest of them.

Litecoin offered no compelling need to exist before the SegWit impasse. Now it has a very, very important reason to exist.

Chinaman mining industry was keeping Litecoin low to prevent any serious competition to Bitcoin, and to prepare to have the power that they have now to incentivize activation of compelling protocol changes by allowing the LTC price to rise which causes ASIC demand to outstrip supply. I explained the dynamics upthread. The mining industry makes a huge profit with this move. The Chinaman is a chess player.

Re-reading all my posts (and clicking all links in posts) in this thread and the other thread, will bring holistic understanding.

[iamnotback]

My stance is get on the train before it is too late. SegWit support at 57% and climbing. Activates at 75%.

[felipehermanns]

Wtf... bu 50% hashrate.. man. This shit is getting big. Why ppl still supporting this crap bugged coin. Fck this man. Want to throw 8 years of Bitcoin in the trashcan becouse this mofo roger ver and his comunist friends. Nice one who support this crap

[iamnotback]

sha is a simple thing to formulate into a chip. scrypt is not so much

Fyi, if you've seen my (clone @TPTB_need_war's) discussions with @tromp (last public discussion in the Ethereum Paradox thread), you'd realize I know a fair amount about Scrypt, memory hard PoW, and ASCII-resistant PoW designs. I've investigated my own designs as well.

Nevertheless both @tromp and I admit we are not chip technology experts.


QUESTION: will a higher LTC price suck GPU hashrate from ETH or is there sufficient supply of GPUs? If yes, then even Ethereum's miners might be in support of the Litecoin activation of SegWit. Why would BTCC mine LTC with their GPUs otherwise.

BTCC wins because they have warehouses of gpu's

[-ck]

Wtf... bu 50% hashrate.. man. This shit is getting big.

Don't worry, 15% of that is troll signalling for BU. If they activate BU based on that when it gets to 51% they'll end up creating a smaller fork and end up repeatedly reorganising their chain back to the real bitcoin one and invalidating all BU blocks.

[iamnotback]

Low power Scrypt ASIC is out of stock!

[iamnotback]

QUESTION: will a higher LTC price suck GPU hashrate from ETH or is there sufficient supply of GPUs? If yes, then even Ethereum's miners might be in support of the Litecoin activation of SegWit. Why would BTCC mine LTC with their GPUs otherwise.

BTCC wins because they have warehouses of gpu's

Okay so Litecoin has 58% of SegWit signaling without BTCC's help. Yet Bobby Lee created BTCC because of his brother Charlie Lee. I think we can expect BTCC take some GPU hashrate away from ETH and/or ETC, to push SegWit to activation at 75% support and keep it there while the support for SegWit solidifies for the inevitable economic reason I have explained. They will be losing money on the LTC mining with GPUs, but gaining overall in the strategic sense. Remember BTCC is also involved with Scrypt mining so their profitability on that will increase as a result of a much higher LTC price. The GPUs are probably their least valuable asset that is closest to end of life, so they'd probably sacrifice it, especially given Vitalik is planning on changing the consensus algorithm to PoS.

Thus I now feel this is virtually a sure thing and have dumped my ETH in exchange for LTC. I don't want to be holding ETH if BTCC removes hashrate from ETH and/or ETC.

[-ck]

And f2pool has gone back to signalling nothing, confirming its BTC signalling was nothing more than an April fool's joke.

It's signalling version 0x20000004 and saying /EXTBLK/... anyone know what that is?

[iamnotback]

confirming

How is that confirmation of anything?

The economics will rule.

Perhaps they want to make some money by seeing how many LTC traders will dump back to them. Sell high, buy low is what they doing.

Or other chess moves going on behind the scenes.

I've read the F2Pool long ago said they would support SegWit on Litecoin, but just in any definite timeframe.

Of course they have to maximize their profits and strategy along the way.

A chart communicates more effectively than 1000 words...

That chart is clearly indicating that Bitcoin can't move higher until Litecoin catches up.

[-ck]

confirming

How is that confirmation of anything?

The economics will rule.

Perhaps they want to make some money by seeing how many LTC traders will dump back to them. Sell high, buy low is what they doing.

Or other chess moves going on behind the scenes.

I've read the F2Pool long ago said they would support SegWit on Litecoin, but just in any definite timeframe.

Of course they have to maximize their profits and strategy along the way.

What the hell are you talking about? Are you still talking about litecoin? There is no doubt their BTC signalling was an April fool's trolling since they signalled every proposal for April 1st only.

[iamnotback]

What the hell are you talking about? Are you still talking about litecoin? There is no doubt their BTC signalling was an April fool's trolling since they signalled every proposal for April 1st only.

I thought you were referring to Litecoin. So I take it now you are referring to them not signaling on Bitcoin. Got it.

I don't care that they stopped doing nonsense on the Bitcoin signaling. It was all nonsense any way.

[-ck]

What the hell are you talking about? Are you still talking about litecoin? There is no doubt their BTC signalling was an April fool's trolling since they signalled every proposal for April 1st only.

I thought you were referring to Litecoin. So I take it now you are referring to them not signaling on Bitcoin. Got it.

That's what I said "confirming its BTC signalling", and last I checked this is the bitcoin discussion section of the bitcointalk forums.

[iamnotback]

and last I checked this is the bitcoin discussion section of the bitcointalk forums.

As if the Litecoin situation isn't intimately tied into what is happening with Bitcoin.

As I said, I don't even know why you would bother to report about the BTC signaling nonsense. Nothing SegWit or large block related will happen on Bitcoin.

Don't miss your uppityunity Mr. Staff.