If LTC succesfully implements SegWit, will and should BTC follow?

[crazyivan]

Hey guys,

the main question of the day is LTC Segwit activation, as I see, the support is over 80% ATM and this has affect the price big time, LTC price has skyrocketed recently.

Once this gets implemented, hopefully without issues, would this be a signal what road should BTC take? Would this finally close mouths of BU supporters? Finally, would this be a sign what would happen to BTC price once this scaling issue gets resolved?

Thx

[1715037492]

1715037492

[iamnotback]

And when I am correct yet again, will you understand you were incorrect and you didn't pay attention?

[pooya87]

at the very least i think it will lead to some clarity. so maybe miners make up their minds faster.

i say that mostly because of two things:
1) litecoin is a copy of bitcoin with little difference. so SegWit and what it really does can be seen on a live, real coin (not just testnet) to some extent. and that can help with make up minds!

2) mining pools such as F2Pool (which is signalling it right now) are mining both litecoin and bitcoin.

[Quantus]

I support Sigwit because it would allow small companies like coffee shops to set up side chains to handle micro transactions again.
It will help bring an end to transaction malleability attacks over the coming years.
But most importantly it will prevent mining pools from using detrimental mining techniques like mining empty blocks or worse bloating the blockchain with fake transactions just to increase efficiency.

[Sadlife]

If they're done testing it in LTC and see some good resutls they would probably implement it in BTC as well.
If UASF reach 95% and segwit is implemented bitcoin should break the $1400 barrier.

[Dorky]

Once this gets implemented, hopefully without issues, would this be a signal what road should BTC take? Would this finally close mouths of BU supporters? Finally, would this be a sign what would happen to BTC price once this scaling issue gets resolved?

I believe so.

In other words, I believe bitcoin will have segwit to facilitate off-chain transactions that need speed of confirmation on daily petty purchases (i.e. buying a cup of coffee).
Those that don't wish to use segwit and willing to endure the long confirmation may do it without the segwit.
Bitcoin infrastructures and networks are very much in place for retail participation compare to litecoin, thus in my opinion it would be a hassle to rebuild the same retail structure and network in place just to cater to litecoin expansion when almost everything is already in place for bitcoin.

Anyone thinks I am wrong can furnish me the contradicting evidence.

[Amph]

well litecoin doesn't have other competitors in choosing what to do next for scaling right? i mean they don't have litecoin unlimited, they don't even have any scaling issue, therwfore it's a different story then bitcoin

hopefully miners recognized that BU was a wrong way to scale and will choose segwit UASF will force this nayway, i also don't believe that they were doing it to cause fud and buying back cheap coin, mining have all the interest to see bitcoin increase

[mobnepal]

Once this gets implemented, hopefully without issues, would this be a signal what road should BTC take? Would this finally close mouths of BU supporters? Finally, would this be a sign what would happen to BTC price once this scaling issue gets resolved?

Implementation of segwit in LTC and BTC are two different things so if segwit get activated in LTC successfully i don't think support for segwit in BTC will grow significantly. However it is true that if this activation works like expected than few miners may start signalling segwit in bitcoin too.

Activation point for segwit in BTC is 95% which is insane and can't be reached.

[iamnotback]

Once this gets implemented, hopefully without issues, would this be a signal what road should BTC take? Would this finally close mouths of BU supporters? Finally, would this be a sign what would happen to BTC price once this scaling issue gets resolved?

I believe so.

...

Anyone thinks I am wrong can furnish me the contradicting evidence.

Evidence that I am always correct:

Segwit will be a disaster. I am not going to support it on BTC because I am a bitcoin HODLER. Meanwhile, I do not have a single litecoin.

And contemplate what the above truly says. What does it say about where scaling with not be activated.

[Dorky]

Evidence that I am always correct:

I knew you will reply.
We will see who will be right.
Let's just hope we don't need to wait too long for it.

[monsanto]

Hey guys,

the main question of the day is LTC Segwit activation, as I see, the support is over 80% ATM and this has affect the price big time, LTC price has skyrocketed recently.

Once this gets implemented, hopefully without issues, would this be a signal what road should BTC take? Would this finally close mouths of BU supporters? Finally, would this be a sign what would happen to BTC price once this scaling issue gets resolved?

Thx

It's cool to see LTC being used for something.. well, something other than arbitrage anyway. Even if it just acts as a BTC testnet it still breathes new life and purpose into the ltc network. Strange things abound in crypto and I don't think it's inconceivable that LTC could end up being the student that becomes the master. We could be witnessing the first steps in this process.

[SONG GEET]

Support have grown to over 80% right now but segwit is not activated yet how much more block need to be mined before segwit will come in action. Is it after current block range/period ends?  
http://litecoinblockhalf.com/segwit.php

Blocks left until period end   911 (11.30%)

[AngryDwarf]

Support have grown to over 80% right now but segwit is not activated yet how much more block need to be mined before segwit will come in action. Is it after current block range/period ends?  
http://litecoinblockhalf.com/segwit.php

Blocks left until period end   911 (11.30%)

It requires 75%+ for a full difficulty adjustment cycle, so I doubt it will activate on this cycle which ends within a couple of days. If the signaling support stays at this level, it will be active in the next difficulty adjustment cycle (2 weeks unless litecoin is different), so it will be activated by then end of the month.

[kiklo]

And when I am correct yet again, will you understand you were incorrect and you didn't pay attention?

I am sorry, did you say something?

I was not paying attention.    


 
.
.
.
.
.
FYI:
Not disagreeing with you , but that joke was just too good to pass up.

[digaran2]

NOw ,if the LTC can SW succeful is unkown. but i think if it succesfulll,it is a good news to btc.

[Vaskiy]

There is no compulsion that bitcoin needs to follow Segwit activation on Litecoin. If segwit gets activated on Litecoin it would serve as an test platform for bitcoin. If found successful on Litecoin then without any further research can go for the segwit activation on bitcoin.

[iamnotback]

Lightning Networks off chain transactions are analogous to garbage collection (GC) in programming, in the sense that there will be huge unpredictable spikes in transaction settlement load on the main chain, which will cause the main chain to be unresponsive to other needs during such "hiccups", similar to how your computer pauses if you have too many browser tabs open too long, while the GC mark-and-sweep algorithm attempts to free up memory.

For this reason (and others), LN and SegWit will never get activated on Bitcoin. Bitcoin was designed by the global elite for settlement between $billionaires. They want it to be as reliable as possible. So there is absolutely no way the elite are going to allow anyone to fork Bitcoin. Fugetaboutit.

Litecoin is being prepared to be the scaling coin. Bitcoin will remain the power broker settlement coin.

And nobody can change this outcome. A year from now, all dumbasses will once again realize I am always correct.

Remember Bitcoin is made by the elite for the elite.

Just an opinion... I believe bitcoin was made by the elite for the digital tracking of the sheeps.

I believe the money of the shadow elites is gold, and they are hoarding over 90% of it in subterranean safes.

The elites are most proficient in persuading us in exchanging fake wealth for real wealth.

It started with paper claim/paper money for gold.

Soon it will be digital money for gold.

You won't be able to transact in BTC on chain. I explained that to you before.

There will be digital currencies and they will be regulated like 666, and you won't be able to transact on chain in Bitcoin which won't be regulated.

Satoshi designed it this way and even @dinofelis admits he did, but somehow @dinofelis can't see that such a design forces the masses off chain into the totalitarianism of 666 regulated currencies.

[NorrisK]

I think it will be a nice way to show what segwite is capable of on a high value high volume coin.

Bitcoin will definately not follow soon after, but it will create perspective and may convince nay sayers to accept it after all.

[iamnotback]

Bitcoin will definately not follow soon after, but it will create perspective and may convince nay sayers to accept it after all.

It will convince naysayers that scaling Bitcoin is a very unwise and unnecessary thing, after everyone sees that scaling has drawbacks and Litecoin rises to $100+ while Bitcoin rises to $2500+.

Then everyone will start to understand that Bitcoin doesn't need to be used by anyone but the wealthy in order to appreciate in value to $500,000.

[coinplus]

Bitcoin will definately not follow soon after, but it will create perspective and may convince nay sayers to accept it after all.

But I guess a successful implementation of segwit with litecoins will convince many bitcoin miners to start thinking about supporting segwit by leaving off bitcoin unlimited as they will be seeing some proof what is going to happen rather than supporting ever not tested hard fork of BU. So, we can assume the percentage of miner support might get a drastic boost on seeing litecoin's successful implementations. But I am not sure they will start working on implementations once they see more than 51% support from miners in 24 hours block generations.