Bitcoin scaling: Looks like all roads lead to LTC

[bosian]

All roads lead to LTC?? sounds like a joke to me

[1715625245]

1715625245

[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.

[iamnotback]

I cannot think

Correct. You can't think.

Watch and learn.

Next time you'll read what I wrote.

I already debunked this nonsense thread of yours.

But all you said were copy and pasting all your theories and arguments of what you think. Those cannot be proven until it is done in practice. How is that debunking the question if Segwit is really necessary?

The point of the question is if it is necessary now with the current usage of LTC. It will be an improvement I am sure. But is it necessary from the point of view of a user?

You first have to ask yourself, how is it being used now? Why do we need Segwit now to open the roads to a Lightning Network?

Litecoin has one and only one chance to ever get SegWit activated now while LTC is extremely undervalued (because this means miners can form a 75% consensus on rising the price, which won't be otherwise be possible due to the crab bucket game theory that John Nash designed into Satoshi's PoW). That window of opportunity will close and due the crab bucket mentality that Satoshi designed into PoW and never be possible again in the future.

Without off chain LN, there is no other way to scale Satoshi's PoW. I've refuted all the other technological BS such as larger blocks and Xthin.

Bitcoin will NEVER get scaling.

Litecoin MUST get scaling NOW. And it will. And it will receive all the transaction rate scaling that Bitcoin will NEVER be able to do.

Please don't make me explain this again.

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.
...
I can't see LTC not going up again  

when price is changing volume goes up too, it doesn't matter if it is changing for the better or for worse (down or up) and it only shows people who are making trades to take advantage of the changing price in short term aka day trading. and you can't say it is positive. and in this case the high volume shows a massive dump in the past 24 hours.

what is positive and shows good signs is when price is stable or with little change but the volume is high which shows accumulation with smart money coming in without anybody noticing.

i am not saying litecoin can not go up again, i am saying your conclusion is wrong.

The volume is extremely high but it is not a panic waterfall collapse. That to me is very bullish. It indicates to me the smart money is trying enter at the lowest price they can before the next blast off.

Nearly all the altcoins are down because the market is confused and thinks that Blockstream has defeated Jihan Wu's BU, but I expect BTC is topping out at $1200 (range bound as I predicted many days ago) once the market realizes that this BS about SegWit signaling on Bitcoin gaining momentum is nonsense. Bitcoin will never get scaling. The market will digest this, Bitcoin will stumble and Litecoin will rocket up.

The market is stupid because Bitcoin will actually benefit from scaling on Litecoin, but the market has to go through its gyrations. In any case, my thesis is Bitcoin remains range bound until Litecoin catches up, because the charge says "It Is Just Time" and because Bitcoin can't move up until there will be scaling in the Satoshi's PoW ecosystem. Litecoin will get it, Bitcoin won't, but that it is a good thing for Bitcoin. Market doesn't realize any of this yet, but the smart money does.

[bitjoin]

All roads lead to LTC?? sounds like a joke to me

If you been watching whats been happening it seems like litecoin will actually play an important role in bitcoins future from now.  Before it was just some other coin now it actually has found a purpose for making bitcoin stronger.

[iamnotback]

See my comment there:

https://www.reddit.com/r/litecoin/comments/64kavb/be_very_careful_segwit_signaling_percentage/

[BitFinnese]

Once LTC gets segwit, all LN development will move there because who wants to develop under crippled mode (no segwit) when you have LTC, which is a BTC clone which actually scales and has the network effect of the original alt?

There is only one problem with your scenario - hardly anyone uses Litcoin. In the last 24 hours were only 6,798 litcoin transactions. see

https://bitinfocharts.com/

Why on earth would all the LN development move to a coin nobody uses, and hence no fee profit can be made for it because nobody uses it?

As things stand only ETh is a possible threat to BTc, because people are using it (there were about 87,000 transactions in the last 24 hours on ETH)

ETH advantage over BTC is gone now, I read somewhere that BTC will have its own smartcontract.  Aside from that ETH had been manipulated ever since. 

Litecoin will be Bitcoin's testing ground but with this I think it really will benefit litecoin because of the exposure and attention it will get.

[error08]

If there is a contentious HF and Jihad Wu actually pushes with his hashrate to force it: big price crash and BTC refugees go to alts = LTC will benefit

If miners keep blocking progress (segwit which enables proper LN etc etc) Bitcoin will never scale and will remain as immutable gold: people will search for fast velocity alts = LTC will benefit

If segwit is forced via UASF this will cause big tensions because like it or not it's a bit of a controversial feature and may cause price crashes, aggressive miners etc = LTC will benefit

If somehow BUcoin wins and there's a PoW change to defend from it creating a clusterfuck of a situation where a lot of innocent miners go out of business = LTC will benefit

Once LTC gets segwit, all LN development will move there because who wants to develop under crippled mode (no segwit) when you have LTC, which is a BTC clone which actually scales and has the network effect of the original alt?
And also has a chinese developer which is very diplomatic and will find agreements with miners?

The ideal outcome of all of this is of course BTC getting segwit via miners agreeing to 95% signaling but let's be realistic, this will never happen.

So the second best outcome looks like BTC should remain immutable hodl coin used as gold, while LTC is a more malleable with actual possible agreements thanks to its 75% activation threshold which is about to deliver us segwit without any clusterfucks and internal war, which means LN would kick in in full force, which means LTC would be used as a coin for minor transactions while BTC remains the gold of crypto.

Discuss.

All of your cases back to LTC will benefit, but until now LTC seems not moving significantly due to people has many other altcoins to invest instead of litecoin.
If bitcoin won't get block size upgrade, it will stuck on this price level within $800-$1200. Even without SegWit or BU, bitcoin will still become the number one cryptocurrency and if it fail, other altcoins will fall too.

[The_Dark_Knight]

If there is a contentious HF and Jihad Wu actually pushes with his hashrate to force it: big price crash and BTC refugees go to alts = LTC will benefit

If miners keep blocking progress (segwit which enables proper LN etc etc) Bitcoin will never scale and will remain as immutable gold: people will search for fast velocity alts = LTC will benefit

If segwit is forced via UASF this will cause big tensions because like it or not it's a bit of a controversial feature and may cause price crashes, aggressive miners etc = LTC will benefit

If somehow BUcoin wins and there's a PoW change to defend from it creating a clusterfuck of a situation where a lot of innocent miners go out of business = LTC will benefit

Once LTC gets segwit, all LN development will move there because who wants to develop under crippled mode (no segwit) when you have LTC, which is a BTC clone which actually scales and has the network effect of the original alt?
And also has a chinese developer which is very diplomatic and will find agreements with miners?

The ideal outcome of all of this is of course BTC getting segwit via miners agreeing to 95% signaling but let's be realistic, this will never happen.

So the second best outcome looks like BTC should remain immutable hodl coin used as gold, while LTC is a more malleable with actual possible agreements thanks to its 75% activation threshold which is about to deliver us segwit without any clusterfucks and internal war, which means LN would kick in in full force, which means LTC would be used as a coin for minor transactions while BTC remains the gold of crypto.

Discuss.

Nice post I think we are going to see something similar to what happened to gold, while gold was more valuable the precious metal more used around the world was not gold but silver, so it makes sense that we will have a coin to store value, bitcoin and a coin to transact daily litecoin.

[iamnotback]

BTC has been rising on declining volume. That indicates to me that this rise will not make it to a new ATH before it falters. I am sticking with my theory that BTC is range bound until Litecoin gets SegWit.

I think we are going to see another leg up on LTC as the SegWit signaling has climbed back up to 68%.

This pullback has brought us back to the uptrend line, which I expected we would come back to test one more time and especially given BTC is  up today.

Given the steepness of that uptrend line (on the right chart quoted below) we either have to fail and crash or start another leg up soon. Failing and crashing seems to not be very likely. So I say load up now on the LTC you want for the next run up. If that uptrend line holds, we have to be back above 0.009 within 6 days 0.011 within 2 weeks. So that is a minimum 40% increase in your BTC within 2 weeks if the uptrend line holds (which it has thus far throughout this crazy volatile rise).

Also today we broke out above that downward blue channel in the left chart quoted below!

Thoughts?

Not really:
We are rather in the blue channel right now :

So in terms of the right chart, we are still within an upward channel, barely.

Insane volatility due to the hashrate/signaling manipulation.

[iamnotback]

Who ever doesn't on board the Litecoin rocket now, is going to be kicking themselves until they are butthurt:

[iamnotback]

Who ever doesn't on board the Litecoin rocket now, is going to be kicking themselves until they are butthurt!

Well, nobody can say they didn't get good advice from this thread

And sometimes perfect timing:

BW just signaled and LTC price hockey-sticking. Nope, just a coincidence. Not correlated at all!

[talkbitcoin]

ah the manipulation. it never gets old
all the bullshit on twitter by F2pool and their posts about SegWit and the dumps. it is funny how everytime the same things happens with a different subject and it keeps repeating itself.

but all the price speculations aside i am still hopeful for litecoin to activate SegWit so that we can finally see bitcoin's copy with SegWit in real action.

[iamnotback]

FYI, I took profits on this surge and wait to buy back again later, because I think actually attain activation is going to take at least 2 weeks and probably longer.

In the meantime, I have bought ETH. It is in a descending wedge pattern that is going to close within 24 hours. It looks like it has to break to the upside. Perhaps Ethereum will make some announcement on the Raiden (LN clone) upgrade coming. Looks like they will beat Litecoin to having a rudimentary beta of off chain scaling.

Insane volatility, but a great time to make money day trading. I sold ETH at a profit and reentered LTC before the wedge breakout!

[iamnotback]

https://www.litecoinpool.org/pools#segwit

Approximately 76.8% of the hashrate is now signaling for SegWit. BW.com just started signaling a few hours ago so the 24 hour average is rising and soon to surpass the 75% threshold for SegWit activation.

Litecoin will get Lightning Networks (LN) off chain scaling. Bitcoin will not. Thus Litecoin is highly undervalued at $12 and should soon make a new ATH above $50. I expect Litecoin above $100 in 2017.

42.2%	F2Pool
9%	LitecoinPool.org
8.4%	HappyChina
6.4%	BW.com
6%	Le6oriAMKX...
2.6%	Batpool
1.4%	Coinotron
0.8%	Give Me Coins

We've reached the 75% threshold for activation of SegWit on Litecoin!

https://web.archive.org/web/20170412134213/https://www.litecoinpool.org/pools

Just need to hold that for 2 weeks. It should climb to 77% if Jihan doesn't increase his hashrate somehow.

[manselr]

Rise is too sharp, don't buy on the pump, wait for 8xxk satoshi again to buy a good pack of LTC in hopes of segwit activation.

But! it can crash at any time due whales stopping signaling, beware.

[iamnotback]

Apparently LTC will likely be a hedge against the coming BTC decline. Go long LTC (Litecoin) now.

https://bitcointalk.org/index.php?topic=1663070.msg18614017#msg18614017

(I deleted this post temporary at 11:40 because so many of you jumped on it buying LTC that you caused a significant price rise and volume, thus were interfering with me covering my short and taking a long position. I am re-posting now that I completed my trade)

[Quantus]

While I agree with the OP (grudgingly) everything that follows is pure price speculation.

Yes Alt-coin markets are way up, some 10 billion dollars in market cap but market cap is not real money.
I could create a alt-coin with 100,000,000 coins sell one for 1 dollar and have 100,000,000 market cap.
Historically money never stays in alt-coin markets for very long.  
I personally believe this is just another pump and dump.
The BT forums are full of shills peddling disinformation and fear, this thread especially.

[iamnotback]

I personally believe this is just another pump and dump.
The BT forums are full of shills peddling disinformation and fear. 

You might want to actually click the link in my post immediately above yours and read the details.

You might realize LTC appears to now be a valid long-term hodling with projecting in the rough vicinity of ~$100 when BTC reaches ~$2000.

[Quantus]

Thats just your opinion and I don't value the opinions of shills.

[iamnotback]

Thats just your opinion and I don't value the opinions of shills.

I am not shilling. I have no reason to. I am sharing the information for the benefit of the community.

Please ignore the information and go back to hiding your head in the "shill" paranoia sand.

I shared some pertinent facts and circumstantial evidence. It is up to the reader to decide if that information is valuable or not.