Litecoin SegWit is Locked In

[Red-Apple]

Edit: 22 April
I changed the title to TBD since the percentage dropped and has not gone up yet. feel free to discuss what you think of new things you hear about pools signalling here.

i only know 2 sites that are reporting progress on litecoin SegWit:
http://litecoinblockhalf.com/segwit.php
http://www.segwit.co/ltc
and neither one of these are showing any date and time until the activation. and all the information i read online from users are all over the place, everyone is saying a different time!

this is what i understand from how things work, correct me if i am wrong so that this topic may work as a reference if someone had any questions or doubts about it like me:

• The activation period consist of 8064 blocks.
• during this time there should at least be more than 75% of the blocks (6048 blocks) signalling SegWit so that it can be "locked-in".
• there has been 5 completed periods with none of them reaching this threshold.
• now we are in 6th period. 1605 blocks are mined and 6459 more is remaining.
• according to the second site: "SegWit will activate on the network during the next period"
• time between litecoin blocks is 2.4 minutes[1] which means it will take 258 hours or 10.76 days till the end of this period.
• the hashrate supporting SegWit needs to stay above the threshold for the whole duration.

https://bitcoinwisdom.com/litecoin/difficulty

[shyliar]

i only know 2 sites that are reporting progress on litecoin SegWit:
http://litecoinblockhalf.com/segwit.php
http://www.segwit.co/ltc
and neither one of these are showing any date and time until the activation. and all the information i read online from users are all over the place, everyone is saying a different time!

this is what i understand from how things work, correct me if i am wrong so that this topic may work as a reference if someone had any questions or doubts about it like me:

• The activation period consist of 8064 blocks.
• during this time there should at least be more than 75% of the blocks (6048 blocks) signalling SegWit so that it can be "locked-in".
• there has been 5 completed periods with none of them reaching this threshold.
• now we are in 6th period. 1605 blocks are mined and 6459 more is remaining.
• according to the second site: "SegWit will activate on the network during the next period"
• time between litecoin blocks is 2.4 minutes[1] which means it will take 258 hours or 10.76 days till the end of this period.
• the hashrate supporting SegWit needs to stay above the threshold for the whole duration.

https://bitcoinwisdom.com/litecoin/difficulty

Close in most details. The design time for litecoin is 2.5 minutes per block on average. The threshold of 75 percent can temporarily be below 75 percent during the duration of the activation period. What's important is that it averages out to be 75 or above during the activation period.

Because of variance no one knows the exact moment segwit will lock in. We can with reasonable certainty pick a time +/- 12 hours for lock in. If during the time period we reach 6048 blocks signaling it's a given that segwit will lock in at the end of the activation period (so for practical purposes it's locked).

[TomPlatz]

So if it spends 24 hours at 68% what are the implications ?
Seems like walking on egg shells at the moment.
The potential of what activation could mean if only people would wake up !
Happy to ditch BTC any day for some forward progress.

[pereira4]

Still a long way to go, 10 days or 2 weeks depending on the hashrate. Anything can go wrong at any second. It peaked at 0.0019 satoshis today, and now, 0.0098 satoshis, im glad that I didn't buy, maybe we can buy back cheaper.

[Chef Ramsay]

Still a long way to go, 10 days or 2 weeks depending on the hashrate. Anything can go wrong at any second. It peaked at 0.0019 satoshis today, and now, 0.0098 satoshis, im glad that I didn't buy, maybe we can buy back cheaper.

Your numbers are a little off: it peaked at .0107 and sits at .00985. Things are just getting started, much higher numbers coming.

[European Central Bank]

it's gonna be a bumpy ride. there's massive extra hashrate being flashed around. you'd be naive to think it's already in the bag.

[bbc.reporter]

This is an exciting time for litecoin and the community. Here is a question for all of you. If Segwit in bitcoin does not activate will the bitcoin developers who planned on setting up a Lightning Network work on a Segwit activated litecoin? Will they bring all their research and technology so that they will be of use?

[shyliar]

This is an exciting time for litecoin and the community. Here is a question for all of you. If Segwit in bitcoin does not activate will the bitcoin developers who planned on setting up a Lightning Network work on a Segwit activated litecoin? Will they bring all their research and technology so that they will be of use?

https://twitter.com/SatoshiLite/status/852618190655860737

[Jalum]

The price may go up because of it. I personally hope that the coin goes down in value so I could purchase a bunch of it.

[Mang Li]

Still a long way to go, 10 days or 2 weeks depending on the hashrate. Anything can go wrong at any second. It peaked at 0.0019 satoshis today, and now, 0.0098 satoshis, im glad that I didn't buy, maybe we can buy back cheaper.

what, 0,0019 sat ? when litecoin price hit this point ?
are you serious about this,, i think your typo is wrong or forget to delete one 0 (zero)

regards

[Emperor Magnus Caligula]

Still a long way to go, 10 days or 2 weeks depending on the hashrate. Anything can go wrong at any second. It peaked at 0.0019 satoshis today, and now, 0.0098 satoshis, im glad that I didn't buy, maybe we can buy back cheaper.

what, 0,0019 sat ? when litecoin price hit this point ?
are you serious about this,, i think your typo is wrong or forget to delete one 0 (zero)

regards

I think he meant LTC/BTC rate is 0.0019. Of course the price could never be below 1 Satoshi

[LiftOff1969]

All in all what is it good for ? Litecoin was meant to be 4 times quicker than Bitcoin anyway to address the slow transaction problems Bitcoin has from time to time........

[TomPlatz]

All in all what is it good for ? Litecoin was meant to be 4 times quicker than Bitcoin anyway to address the slow transaction problems Bitcoin has from time to time........

Whether SegWit adds more speed or not, SegWit offers developers a way in to add a multitude of transactional tricks, this is of more interest for many than speed of Lightening which it doesn't really need right now however if you watched the presentation by Charlie Lee he offered some use case in combination with Bitcoin.
Although the specific working numbers of LiteCoin do not match Bitcoin I see it as similar to Bitcoin as a solution handed out on a plate for all those who want an immediately cheaper, fast, programmatic system that could thrash VISA transactions.
LiteCoin has almost clinched the deal on having something Bitcoin desperately needs.
I've never checked the transaction speed, maybe it is 4x faster but really, to be something to compete with VISA 4x wont cut the mustard.

[talkbitcoin]

Still a long way to go, 10 days or 2 weeks depending on the hashrate. Anything can go wrong at any second. It peaked at 0.0019 satoshis today, and now, 0.0098 satoshis, im glad that I didn't buy, maybe we can buy back cheaper.

what, 0,0019 sat ? when litecoin price hit this point ?
are you serious about this,, i think your typo is wrong or forget to delete one 0 (zero)

regards

well if you had an investment then you would have known and you should have cared, and if you didn't have any litecoin then why would you even care
besides you can always open a chart and check for yourself. what he said is simply a type with a misplaced zero. price went up to 0.0109BTC (0.01085BTC on polo)

All in all what is it good for ? Litecoin was meant to be 4 times quicker than Bitcoin anyway to address the slow transaction problems Bitcoin has from time to time........

it fixes malleability problem and then it also opens up way for lightening network.
but most important of all, it is a check to see how SegWit and LN would work on bitcoin. how the network and miners are going to be affected by this and a lot more. then eventually lead to a more definite decision on bitcoin.

[XbladeX]

***it is a check to see how SegWit and LN would work on bitcoin. ***

If not bitcoin then ETH will have it own version LN - Bitcoin miners won't stop technology ...
ohhhw they can stop their profits by giving they profits to ETH miners now they get all most same $$$$

[Ayers]

All in all what is it good for ? Litecoin was meant to be 4 times quicker than Bitcoin anyway to address the slow transaction problems Bitcoin has from time to time........

Whether SegWit adds more speed or not, SegWit offers developers a way in to add a multitude of transactional tricks, this is of more interest for many than speed of Lightening which it doesn't really need right now however if you watched the presentation by Charlie Lee he offered some use case in combination with Bitcoin.
Although the specific working numbers of LiteCoin do not match Bitcoin I see it as similar to Bitcoin as a solution handed out on a plate for all those who want an immediately cheaper, fast, programmatic system that could thrash VISA transactions.
LiteCoin has almost clinched the deal on having something Bitcoin desperately needs.
I've never checked the transaction speed, maybe it is 4x faster but really, to be something to compete with VISA 4x wont cut the mustard.

litecoin is 4x faster because the block tiem is 2.5 of what is bitcoin, if you reduce the block tiem to 1 minute you get more capacity, it's like you have the block at 10MB, because you have confirmation faster and can handle more transaction in the same time as bitcoin, now can you share what are those tricks that segwit can brign to bitcoin?

[Red-Apple]

Happy to ditch BTC any day for some forward progress.

lol, we have all been so hyped up for litecoin because of SegWit but it is not magically going to become a good enough coin to leave bitcoin for!

If not bitcoin then ETH will have it own version LN - Bitcoin miners won't stop technology ...
ohhhw they can stop their profits by giving they profits to ETH miners now they get all most same $$$$

i'd rather use litecoin or even Dogecoin instead of eth with a huge ICO which everything about it is centralized. whenever i decided i want centralization i go to the banks and use fiat happily.

[mi$fit]

Good to see this happening. I do not think the activation will take the currency to fifty dollars or something, but the important thing is the benefits this will bring to the ecosystem, and to Bitcoin, of course.

[cryptohunter]

Good to see this happening. I do not think the activation will take the currency to fifty dollars or something, but the important thing is the benefits this will bring to the ecosystem, and to Bitcoin, of course.

I think if lightening gets implemented too then it will be bigger than many think.

Segwit for coins that nobody uses much is not a big deal but segwit and LN for ltc that is going to be much more of a big deal i think.

We will wait and see.

[alyssa85]

So if it spends 24 hours at 68% what are the implications ?
Seems like walking on egg shells at the moment.
The potential of what activation could mean if only people would wake up !
Happy to ditch BTC any day for some forward progress.

It'll need to go above 80% for a bit to make up for it in order to hit the target.