Even more proof that market wants segwit

[BillyBobZorton]

Rejecting Bitcoin Unlimited doesn't necessarily mean accepting Segregated Witness. I know Jihan and Wung are dickheads, but the market doesn't need SegWit, it needs a solution for the scaling problem, and SegWit has its flaws as well – it's not the perfect solution.

It generally does. Even the ones that want bigger blocks, generally reject BU-coin. Let's look at the data shall we:

Rejected by who? A couple of chinese miners.

The rest are in with segwit:

The market has spoken. Segwit goes up = price goes up.

https://s12.postimg.org/4qtf02fij/segwitup2.png

Economic majority has spoken: All experts and relevant actors in the field are pro-segwit and anti-BU:

https://pbs.twimg.com/media/C8HwIp7VwAEGPBb.jpg

https://medium.com/@21/using-21-to-survey-blockchain-personalities-on-the-bitcoin-hard-fork-1953c9bcb8ed

Node majority has spoken: Segwit support overwhelms Buggy Unlimited.

https://s1.postimg.org/qc16wc7qn/nodes1.png

Not that I follow satoshi's word's as if he was Jesus Christ himself, but even he warned us about the dangers of BUcoin:

https://s12.postimg.org/4cazmc05p/satoshi_Bu.png

Unfortunately, the entire ecosystem keeps getting blocked by the chinese mining cartel.

I was hoping LTC would show the benefits of segwit in action, but of course, Jihan is scared that this happens, so he will stop it in LTC too, since it was getting too much attention and it's basically a BTC clone so it would be a valid experiment (that's why he didn't bother with some other obscure coins that actually got segwit but no one cares)

[1715156110]

1715156110

[1715156110]

1715156110

[1715156110]

1715156110

[1715156110]

1715156110

[orsotheysaid]

blah

random shaolin tweet of speculation and no proof.
temporary price drama

thejaytiesto and the usual blockstream party now wants to bomb china..

so why do you keep ignoring this:


https://twitter.com/SatoshiLite/status/850080167791702016

and the fact that segwit lossing support rumors cause price crashes? who cares if it's a rumor, the point stands.

[alani123]

I don't think that markets are crashing because of the non adoption of segwit. The thing is, bitcoin's speculative market would likely benefit gelreatly if consensus was finally reached. So far though, in spite of the lack of agreement among parties with influence, the price reached ATH levels. This is indicative that speculators don't really care.

[franky1]

it's a rumor,

are you ignoring this

temporary price drama is meaningless..
PoW nuking based on temporary price speculation and rumour...illogical

[AngryDwarf]

OP links to a cry baby who submitted the BIP's for UASF and flag day activation. Wipe away the tears and work towards a solution that will get consensus.
And on a PoW coin, that requires miner consensus. There are plenty of PoS coins out there if you think they are a better coin. Then it is big whale holder consensus. They can block any solution they do not like as well.

[Sanugarid]

https://twitter.com/shaolinfry/status/850995104240336896

A single truth a rumor of Jihan using his power to crush segwit is already crashing the market hard, just like everytime he makes an statement about blocking segwit in BTC and so on.

Im sick of this bullshit, we need to get rid of this idiot. UASF segwit or whatever I don't give a fuck, im sick of a single guy with a ton of mining power crashing markets at will and make millions shorting while doing nothing. This is fucking NUTS.

Since we know the ASICBoost existence, the bitcoin price remains around $1200. Why do you say the market is crashing hard?

[AngryDwarf]

https://twitter.com/shaolinfry/status/850995104240336896

A single truth a rumor of Jihan using his power to crush segwit is already crashing the market hard, just like everytime he makes an statement about blocking segwit in BTC and so on.

Im sick of this bullshit, we need to get rid of this idiot. UASF segwit or whatever I don't give a fuck, im sick of a single guy with a ton of mining power crashing markets at will and make millions shorting while doing nothing. This is fucking NUTS.

Since we know the ASICBoost existence, the bitcoin price remains around $1200. Why do you say the market is crashing hard?

OP is referring to recent Litecoin pump and dump I think.

[Yakamoto]

At this point, I wouldn't mind a switch the segwit if it would help the entire debate to come to a close and make sure that the corrupt devs that are producing BU (which is already a mess when it comes to the code structure it has, just look at the preliminary tests with nodes) don't get any more power within the blockchain.

Segwit isn't perfect, but it is one of the best things we can use which doesn't wreck the entire system yet still provides a decent compromise.

[franky1]

OP is referring to recent Litecoin pump and dump I think.

litecoin pump and dump..
who cares.

its temporary price drama.
plus

it was caused by twitter..
not asics or china or asicboost.

asics and asicboost has done nothing in the last 2 years
bu, classic, xt, and a dozen other implementations has dont nothing in the last 2 years

reddit and twitter "rumours" have been the attack, twisted as a victim card being waved at a situation that has never played out

[JanpriX]

Every now and then, we will see some "posts", "news" or "rumors" about the scaling debate and about the parties involved in it. These senseless articles just don't provide any proof of what it's saying and just wanted the community to panic and sell their BTC. It is better to do your own study about these matter. Just get over this thing as soon as possible. What's happening right now is not healthy for the BTC community.

[Carlton Banks]

Even if you change PoW, what stops new monopolies to be formed? Look at LTC. There's a scrypt monopoly already. Change it to anything you want and you will get chinked again because chinese miners have free electricity and cheaper labour force coupled with sponsored PBOC money. PoW cannot be saved as it stands, changes need to be made, all PoW will always lead to the current situation. I had an idea of randomly changing PoW algo or something like that, SOMETHING must be done to avoid coins getting chinked or else you might as well dump and have nuke backed dollars. What's the point if both are centralized anyway.

I agree with you, but the move still makes sense.


The fundamental problem is access to manufacturing, and design. Even a CPU only PoW has this problem, there's a more serious monopoly there with high performance integer specific (which I think hash functions uniformly handle, anyone?) computation units, and they're called Intel. A whole panoply of problems stems from that particular monopoly too.

But, we can level the playing field that bit extra by changing to CPU only mining. ASICs are even more cartelised than Intel's monopoly, simply because Intel chips don't have the huge price gouging markups that Antminer and others can afford to charge. Mining with ASICs has been highly uncompetitive for independents right from the start.

And we're buying time by changing PoW. Time to test ideas like randomly changing PoW hashing (as you mention), or even requiring a series of 10 different hashing algos per block header attempt (Meni Rosenfeld's idea).

And the endgame is 3D printing of silicon (or other substrate...) ASIC processors. Even then, the company that sells the silicon and copper can begin to get in on the action in the same way nVidia or Intel could. But it still levels the playing field that bit more. If we could use a nitrogen or iron based processor substrate for 3D printing, someone might still find a way to monoplised or cartelise the most abundant elements on earth.

But let's get there one step at a time. The current miners have demonstarted all too well that power has corrupted them as much as anyone else, so we must work towards the most free market possible. I feel for the honest miners, but, if they're honest with themselves as well as the Bitcoin network they contribute to, they're getting ripped off and losing in this situation too. Mining rigs are only one part of the miners infrastructure, small miners will win out in the end.

[cellard]

OP is referring to recent Litecoin pump and dump I think.

litecoin pump and dump..
who cares.

its temporary price drama.
plus

it was caused by twitter..
not asics or china or asicboost.

asics and asicboost has done nothing in the last 2 years
bu, classic, xt, and a dozen other implementations has dont nothing in the last 2 years

reddit and twitter "rumours" have been the attack, twisted as a victim card being waved at a situation that has never played out

Doesn't change the fact that that positive segwit news/rumors make the price go up and negative segwit news/rumors make the price go down.

When Charlie Lee confirmed that Wang would not stop signaling segwit, price went back again.

Now if Jihan confirms that he will drop that amount of hash rate against segwit, the price will go down too.

Rumors have to contain information and depending on what the rumor says market reacts.

TL;DR:  segwit news/rumors make the price go up and negative segwit news/rumors make the price go down. This is a fact.

[AngryDwarf]

Doesn't change the fact that that positive segwit news/rumors make the price go up and negative segwit news/rumors make the price go down.

When Charlie Lee confirmed that Wang would not stop signaling segwit, price went back again.

Now if Jihan confirms that he will drop that amount of hash rate against segwit, the price will go down too.

Rumors have to contain information and depending on what the rumor says market reacts.

TL;DR:  segwit news/rumors make the price go up and negative segwit news/rumors make the price go down. This is a fact.

I suppose someone is making a lot of money off of these segwit hopers. If the sheep react so predictably, the wolf can run rings around them.

[danherbias07]

OP is referring to recent Litecoin pump and dump I think.

litecoin pump and dump..
who cares.

its temporary price drama.
plus

it was caused by twitter..
not asics or china or asicboost.

asics and asicboost has done nothing in the last 2 years
bu, classic, xt, and a dozen other implementations has dont nothing in the last 2 years

reddit and twitter "rumours" have been the attack, twisted as a victim card being waved at a situation that has never played out

Doesn't change the fact that that positive segwit news/rumors make the price go up and negative segwit news/rumors make the price go down.

When Charlie Lee confirmed that Wang would not stop signaling segwit, price went back again.

Now if Jihan confirms that he will drop that amount of hash rate against segwit, the price will go down too.

Rumors have to contain information and depending on what the rumor says market reacts.

TL;DR:  segwit news/rumors make the price go up and negative segwit news/rumors make the price go down. This is a fact.

I am kind of questioning that. Why is it that they are working on making bitcoin fall down while the its price still went up.
Is this some kind of a strategy because they are really the one who benefits from it?
Imagine they have really a large amount of bitcoin and just want to create some news that will make people doubt it for the price to go down so they can buy again. What if they really are the panic sellers and cannot buy back because of the expensive price and no profit from it.
If I am a known man I would do that in case I sold at a wrong time. This aint new anymore. Just a strategy and they will say after all of this. "Oops! I didnt mean that!"
But with the increase perhaps the magic aint working.

[thejaytiesto]

OP is referring to recent Litecoin pump and dump I think.

litecoin pump and dump..
who cares.

its temporary price drama.
plus

it was caused by twitter..
not asics or china or asicboost.

asics and asicboost has done nothing in the last 2 years
bu, classic, xt, and a dozen other implementations has dont nothing in the last 2 years

reddit and twitter "rumours" have been the attack, twisted as a victim card being waved at a situation that has never played out

Doesn't change the fact that that positive segwit news/rumors make the price go up and negative segwit news/rumors make the price go down.

When Charlie Lee confirmed that Wang would not stop signaling segwit, price went back again.

Now if Jihan confirms that he will drop that amount of hash rate against segwit, the price will go down too.

Rumors have to contain information and depending on what the rumor says market reacts.

TL;DR:  segwit news/rumors make the price go up and negative segwit news/rumors make the price go down. This is a fact.

Don't try to apply logic with franky1, he will twist all arguments that don't meet his agenda.

Even further proof that segwit = price up. Vertcoin got 300% price increase due segwit news:

https://bitcointalk.org/index.php?topic=1828453

Anyone that still doesn't see segwit = positively valued for the market needs a beating.

[Kprawn]

We are giving Jihan and Roger Ver the power they think they have. We have seen with Mike Hearn and Gavin too. Every time they farted,

everyone was up in arms. Now Mike Hearn is a thing of the past and nobody is following his tweets or his crazy statements on Social media.

Some people are just addicted to drama and attention and Jihan seems to be one of them. Ignore his rants and comments and he too will fade

away, like Mike Hearn did. 

[iamnotback]

https://twitter.com/shaolinfry/status/850995104240336896

A single truth a rumor of Jihan using his power to crush segwit is already crashing the market hard, just like everytime he makes an statement about blocking segwit in BTC and so on.

Im sick of this bullshit, we need to get rid of this idiot. UASF segwit or whatever I don't give a fuck, im sick of a single guy with a ton of mining power crashing markets at will and make millions shorting while doing nothing. This is fucking NUTS.

Ah Chinamen are manipulating the price of LTC, shaking out the weak hands and day traders so they can buy some more LTC cheap.

I also read that LTC1BTC was flashing 700 GH/s on their website. It is a lot of BS lies to manipulate the price.

UASF would fuck the coin because nobody wants to trust a democracy with their money.

Just be patient, the Chinamen want higher prices, they just want to extract the most they can on the way up.

I actually love what these miners are doing. Because they will create huge demand for my altcoin which doesn't use PoW. Many pissed off users/investors are going to looking for something better that miners can't fuck with. The day traders love the volatility.

I suppose someone is making a lot of money off of these segwit hopers. If the sheep react so predictably, the wolf can run rings around them.

Yup.

Re: Blockchain powered internet?

I'm not sure if this exists yet, but if it does, it would totally decentralize the internet.

...

What do you think?

That is my altcoin project, BitNet.

This has nothing to do with centralization

The databases on the Internet are centralized, e.g. Facebook's DB, Reddit's DB, Bitcointalk's DB, Stackexchange's DB.

All of them must die. Will be replaced with open blockchain.

I am sort of regretting ever getting involved with LTC, but I'm already in so I will ride it out for the time being.

I mentioned my BitNet only because I am pissed off with what is going on with PoW, Bitcoin, Litecoin, etc.. I really shouldn't be here talking. Like to sell my LTC and go back to coding. But I guess I'll hold my LTC for time being. Very nerve wracking. I am wasting too much time posting on forum.

[iamnotback]

I don't think that markets are crashing because of the non adoption of segwit. The thing is, bitcoin's speculative market would likely benefit gelreatly if consensus was finally reached. So far though, in spite of the lack of agreement among parties with influence, the price reached ATH levels. This is indicative that speculators don't really care.

I think everyone got excited because they thought @Gmaxwell could slay Bitmain. But now the reality is starting to hit people. Bitcoin is NEVER going to get any more significant changes to its protocol.

Looks to me that BTC is topping out again and another ride down awaits.

Should have traded BTC's top for LTC's recent bottom. Trade it like a seesaw.

[thejaytiesto]

So BW decides to wake up with the right foot today and starts signaling for segwit:

https://twitter.com/SatoshiLite/status/852034914249654272

Reaction of the markets?



Yet, delusional schizo franky1 will remain in denial about the fact that the market reacts positively whenever segwit goes up.

Now the question is, what pool will chink us this time by pulling out and shorting the market?
Let's keep track of Wang's twitter. Those guys are psychos and will not doubt to fuck around with their power to constantly short and make millions.

[alyssa85]

Doesn't change the fact that that positive segwit news/rumors make the price go up and negative segwit news/rumors make the price go down.

When Charlie Lee confirmed that Wang would not stop signaling segwit, price went back again.

Now if Jihan confirms that he will drop that amount of hash rate against segwit, the price will go down too.

Rumors have to contain information and depending on what the rumor says market reacts.

TL;DR:  segwit news/rumors make the price go up and negative segwit news/rumors make the price go down. This is a fact.

Speculators always trade off "news", doesn't matter what the news is. And that is what we are seeing.

I actually hope Litecoin does adopt Segwit, because afterwards it will prove no-one uses it and no-one wants it.