Bitcoin scaling: Looks like all roads lead to LTC

[crazyivan]

Seeing how smooth stuff goes with LTC and well LTC price reacts to Segwit, I d expect this to increase possibility of BTC taking the same path.

I m sure BTC price will react to this the same way, should this take place.

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[Herbert2020]

Seeing how smooth stuff goes with LTC and well LTC price reacts to Segwit, I d expect this to increase possibility of BTC taking the same path.

I m sure BTC price will react to this the same way, should this take place.

well yeah it would be similar but comparing bitcoin's market with litecoin's market is not really right since the market size of litecoin is not even close although litecoin is one of the biggest altcoins out there.

but in any case i agree that price will love SegWit activation both in litecoin and bitcoin.

[upsidedown75]

LTC has its biggest purpose to date in getting segwit on bitcoin. The BU team will be trying hard to stop this im guessing, they should just give up now though.

I would like to see segwit to be activated for LTC even though there are no many everyday transactions as @alyssa85 already stated. Maybe is a good way for people without deep technological background and experience like me to end up with their own practical conclusions.

The only reason LTC doesn't get as many transactions is lack of network effect, that's all. Technically, it is already a better coin for transactions than BTC. After LTC gets segwit and LN, there are no excuses to make transactions under BTC instead of LTC, unless you really need to do it under BTC. For everyday transactions, LTC + segwit + LN is the ideal coin, nothing can outmatch it.

Everyone developing LN technology will pay attention to LTC and implement it there thanks to segwit and thanks to LTC basically being the same as BTC so everything translates easily.

Also I see Blockstream starting to work under a segwit-enabled LTC to showcase their technology and try to convince remaining miners to signal for segwit. Otherwise they may become irrelevant.

Lite coin has been here in the market for quite some time now and I think the only reason it was not as successful as the bitcoin is because they didn’t promote it as much, they worked on the core and everything but they were not able to give people a way to spend it on, like if you browse the net for places to spend lite coin you won’t be able to find as much as bitcoin, and that made its user base and the people who are still using It a few, even though it claims to have faster transactions than bitcoin.

[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.

[iamTom123]

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)

Indeed, this can be a minus factor for LiteCoin. However, if the SegWit can be successful then we should expect people to buy big volume of LiteCoin in the hope of making some profits. In other words, this can open up for a pump and dump situation. Anyway, let's hope that another altcoin can shine its own star alongside Ethereum and those in the top 10. I am thinking now of buying some LiteCoin.

[gentlemand]

Seeing how smooth stuff goes with LTC and well LTC price reacts to Segwit, I d expect this to increase possibility of BTC taking the same path.

I m sure BTC price will react to this the same way, should this take place.

We now know why Bitmain doesn't like Segwit. They control so much mining power that unless they're appeased or somehow removed then Segwit activation is a cast iron impossibility.

[thejaytiesto]

That was a hell of a dip. Considering peak was 0.01134000 I got back in at a 0.0098 which may be optimistic since we may stagnate for a while on that 68% range.

Still got 50% of the remaining BTCs that im using to play with LTC hoping for a deeper dip, if it doesn't happen then oh well. As of right now its bouncing back up from that 96 ish resistance testing 0.001 again.

We have a bunch of idiots reacting to block variance thinking it's going up/down because they don't understand block variance so those small variances in the segwit % may also have an impact in market psychology.

Also notice how the segwit page was lagging because it was filled with people pressing F5.

[buwaytress]

Now that you've put it that way... I do consider BTC my hodl coin. I stash whatever earnings I make in BTC, exchange unwanted alts into BTC, and for payments or transfers I use Doge (don't laugh, at a measly 1 doge fee for virtually instant transacts in a popular alt many people accept) mainly but would not put LTC and ETH out of consideration for the same reasons.

[Qartada]

Seeing how smooth stuff goes with LTC and well LTC price reacts to Segwit, I d expect this to increase possibility of BTC taking the same path.

I m sure BTC price will react to this the same way, should this take place.

We now know why Bitmain doesn't like Segwit. They control so much mining power that unless they're appeased or somehow removed then Segwit activation is a cast iron impossibility.

While they control a huge amount of mining power, they're really not strong enough to prevent a consensus if SegWit has overwhelming public support.  One hash = one vote, but you have to vote for something which is economically viable, and I'm sure Bitmain know that as much as anyone else.  If LTC's SegWit goes through, it'll result in more public support --> potentially Bitmain's grudged support.

[Xester]

Oh my I should have read this topic weeks before the actual pump on LTC has occurred. I have been regretting my decision on not buying ltc when it was just at 500k sats and actually purchased LTC on the last hour when it finally hits 1 million satoshi or 0.01 btc. But anyway I hope the LTC bubble will continue and I can get profit from it.

[carlfebz2]

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.

Most of the case if we saw this pattern (wedge) it does breakout but mostly in forex market it do bullish breakout which means it can possible happen here on LTC but we still cant be assure on which way it would go either bulling or bearish.I have sold my LTC a long time ago and didnt expect that it would happen to increase its price as of these days.

[naughty1]

BTC has failed completely with the segwit idea, because it needs a very high rate. However, bitcoin is a very strong currency, so it has grown freely and does not rely on segwit. LTC is different from bitcoin, it is much weaker, although it has been around for a long time, but it has no impact on the market. To improve this, segwit is a good idea, it needs to be done, and the rate given is very reasonable, this can absolutely happen, so investing in LTC now is  clever optional. I wait for a nice result from LTC.

[BillyBobZorton]

BTC has failed completely with the segwit idea, because it needs a very high rate. However, bitcoin is a very strong currency, so it has grown freely and does not rely on segwit. LTC is different from bitcoin, it is much weaker, although it has been around for a long time, but it has no impact on the market. To improve this, segwit is a good idea, it needs to be done, and the rate given is very reasonable, this can absolutely happen, so investing in LTC now is  clever optional. I wait for a nice result from LTC.

The key is knowing if this is a fake pullback or an actual breakout is about to happen. I would like to buy a big chunk if it goes back down but nobody can know what's next.

[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.

[BrewMaster]

That was a hell of a dip. Considering peak was 0.01134000 I got back in at a 0.0098 which may be optimistic since we may stagnate for a while on that 68% range.

it has always been like this, specially in a big market such as litecoin. people have short term positions in their mind and market is filled with weak hands.
the 0.01134BTC got here so fast and it is always a good idea to dump in times like this to buy back the dip if you are one of the short term traders and when you do, many will follow! you actually see the same pattern of a big dump then buy back up every couple of hours.

Also notice how the segwit page was lagging because it was filled with people pressing F5.

this was so funny

[monsanto]

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.

It's pretty funny how contentious every little change is with the sides in the bitcoin debate, and there over in the corner is neglected LTC pretty much asking for devs to come and screw around with it. It makes a real good argument about why LTC was/is good to have around in the first place. Although if LTC gets popular enough I'm sure we'll eventually run into the same situation as BTC.. with LTC factions fighting for power .. and then everyone will be left with the unthinkable option... doge 

[taxmanmt5]

Oh my I should have read this topic weeks before the actual pump on LTC has occurred. I have been regretting my decision on not buying ltc when it was just at 500k sats and actually purchased LTC on the last hour when it finally hits 1 million satoshi or 0.01 btc. But anyway I hope the LTC bubble will continue and I can get profit from it.

LTC price is quite high now and people are now in confusion if this is still the right time to buy LTC  or they are late. I can see it can go as high as upto 0.03 to 0.05 in a period of 6 months. Of course there will be dump in between which should not to be afraid of.

[cpfreeplz]

Apparently litecoin miners/users are a hell of a lot more of a community (not) divided than bitcoins. That's the shitty  when you get big, there are too many assholes that have terrible opinions that sway people into believing your crap.

I have a few Litecoins and I'm happy with where they're going. I've over doubled my money in what, maybe a week? That's great in my books.

[iamnotback]

One last post on LTC, then I have nothing more to say about this piece-of-shit:

Lol, the Chinaman is manipulating the hell out of this. And they've been reading me because you know how many numerous times I used "tail doesn't wag the dog" in my recent thread about how I am going to end PoW mining. No one else has been using that phrase in our ecosystem lately. So I think I got their attention. Look at Charlie Lee's statement:

https://twitter.com/SatoshiLite/status/850058511199248384

I'm not selling. They are clearly playing a game to shake the trees of weak hands.

And they've been monitoring my posts, because they clearly saw me as a leader in their pump.

So from now on, you might want to do the opposite of what ever I write, because I might be writing BS just to confuse them.

But I will say this, PoW must die. Soon. Didn't I just say I would write BS.

[iamnotback]

Who else is tired of this shit?