Litecoin - f2pool signaling segwit

[mining1]

@iamnotback just for the record, i've entered too at 6.3E. But since the uptrend path is not as safe as ethereum's i wasn't willing to trade eth for it so i've invested 850euro. Looking at the hashrate support, it seems about ~60% of the curent hashrate signals for segwit, so for it to activate it needs ~15% more support, an average pool like ltc1btc could activate it, or several of the small ones/solo miners.

LTC pools/hashrate and segwit signals https://www.litecoinpool.org/pools

Just for the record, i never liked ltc and i truly hate the motto silver to bitcoin's gold. So i've risked maybe 300E in case segwit doesn't activate and the price goes down to previous levels. Let's see if your gut is right this time.

[Luigi21]

I've bought it at 3.9$, I hope it continue to pump thanks this good news!

[mining1]

Wow, you're Bitcoin's CEO, nice to meet you.

[cryptohunter]

seems the segwit threshold will be reached long before many of the hopeful even predicted.

[iamnotback]

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

My opinion is sell your centralized dogshit such as Decred, PIVX, and Dash because they will may collapse/correct when it is clear that Litecoin has scaling and instant transaction coming.

For those locked for 28 days into Decred staking, you naive, boastful fanboys will be unable to make this trade. That is what you get for believing in dogshit and not knowing the difference and fighting with me when I try to explain it to you.

At least I guess most professional traders realize just to use Dash short-term to take money from fools.

Note I do think PIVX will exceed $1 again first. Maybe a double-top or maybe it will continue to erode at Dash marketshare.

If Dash is going to sustain its current bull run, the correction must be almost over. So perhaps I am incorrect about a massive shift from shitcoins to Litecoin. We'll see...

But comparing 8X gain potential (as priced in BTC) in Litecoin to the upward potential of Dash, I think Litecoin wins that trade right now. And I think BTC is going to double in fiat price this year also, we that is 16X gain potential relative to fiat. Also for the moment much higher liquidity in LTC than DASH.

Perhaps we will get a very rapid revaluation of LTC, then capital can flow back out into these other shitcoins. So maybe the shitcoins are due for a correction. I dunno with any certainty. Just sharing random thoughts.

[mining1]

Well i did say when it was at ~25% that it will end up with 60%. Because it had the support of 60% of the hashrate since yesterday when f2pool joined. Problem is, it needs 15% more.

[iamnotback]

Well i did say when it was at ~25% that it will end up with 60%. Because it had the support of 60% of the hashrate since yesterday when f2pool joined. Problem is, it needs 15% more.

It is increasing at faster than 1% per hour. You think that will just stop on a dime at 60%.

Y'all may not have much time remaining to make this trade. We'll see...

The way these things usually resolve is rapid capitulation once the last major holdout sees the inevitability of it all.

[iamnotback]

Low power Scrypt ASIC is out of stock!

April fools is already over in China, the joke would be going too far if he switched off now, it would make a lot of people invested in LTC lose a lot of money. Apparently people has invested in scrypt mining gear too. If he pulls out now he's asking to get shot. Those kind of jokes have real life consequences.

The economics are not a joke. This is virtually a sure thing. Anyone not buying LTC right now is going to be butthurt and have less BTC than those who did. However, SegWit signaling has stalled at 58% for the past hour or two.

The economics are such that which ever miners have a vested interest in keeping the LTC price down thus not signaling SegWit will gradually be debased within the hashrate because those who are buying up the old model A4 Scrypt miners are only profitable at this higher price. So they will signal SegWit as the supply of A4s becomes sold out.The new models which are twice as efficient are monopolized by those who want the price to go higher. This economics seems inevitable.

[Geraldo]

Its already happening, but its not too late to get on. Hopefully we will see it move over 50$. Exciting days are coming.

[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.

@alyssa85, it's a mix of hype (btc can't activate it, ltc can) plus the fact that segwit enables LN, plus new asic miners which are extremely efficient so the miners will benefit alot from these miners and higher prices. Plus the fact that most ltc is in chinese hands therefore they control most of the supply which means they can pump it alot, and the fact that they mine it is a double win. I think this is why @iamnotback thinks ltc may reach ATH, assuming segwit's activating.

Other projects with segwit don't matter because they are too small, no network effect, no brand recognition, etc. Did i miss anything ?

Speculation is future looking. If Litecoin gets LN and Bitcoin doesn't, then LN is the top contender for (private fractional reserve banking) scaling that will be acceptable to those who support only Satoshi's PoW.

Ethereum is next best contender for LN clone Raiden, but Ethereum is for a different crowd of speculators who believe in more uses for blockchain than just payments. Not for the conservative Bitcoin maximalists. I'll be trading some back into ETH (taking profits to recover original investment and let the rest ride) after the big move up in LTC, if I am correct about that. (Otherwise I'll be licking my wounds)

After that is bunch of dogshit coins that nobody (who knows technology of blockchains well) gives a hoot about except to pump and dump, except maybe Monero and Zcash but I'm waiting for a re-entry point in Monero below $15.

[iamnotback]

A chart communicates more effectively than 1000 words...

[bbc.reporter]

Litecoin - f2pool signaling segwit

Pump! should be activated in no time

i think that is an april fool joke, check bitcoin board they are also signaling for segwit, and guess what today is 1 april, sound strange? not to me and also why litecoin need segwit, it has 2.5 block times, which help already have 4x the block size of bitcoin, with is no where near to be full with current volume of transaction, this voluem is a joke when you compare to bitcoin daily transaction volume

Segwit is not only a solution to increase transaction count per block. It fixes some issues like the malleability problem, which I do not know affects litecoin or not, but it will be better if it was activated for the creation of the Lightning Network. It may not make sense now because there is no need for litecoin to make adjustments because of the low usage of the coin but it is good to be ready.

[talkbitcoin]

the stable price right now is both promising and scary when you look at what has been happening in the past few days.

it is scary because we are after a pump and there is no denying that and price can go down specially if bitcoin tries above $1100 again.

but it is promising at the same time because of the accumulation that at least seems to be happening and also as far as news goes SegWit activation is at nearly 59% but again it is scary since F2Pool has been trolling yesterday and if it keeps up we can be sure of it otherwise it was April fools lie

p.s. LTC is the 3rd highest volume right now and that with a rather stable price in past 24 hours.

[iamnotback]

Who else is tired of this shit?