Litecoin SegWit is Locked In

[bbc.reporter]

it is getting too hard to follow what is going on with Litecoin's SegWit activation these days, i imagine Charlie Lee running around door to door, talking to everyone and convincing them about SegWit.

anyways i changed the title to TBD (to be determined) since it has been well below 75% for some time and we don't know when that is going to change.

the good news is that price doesn't care about it apparently

Market never did care about deadwit.

It is the direct LTC to FIAT Wallet on Coinbase , that is what matters and when it activates.   




 

Then please explain why litecoin is going up? Of course it has something to do with segwit. Why do you keep telling it is not? Are you trying to make us believe that it is not or are you in denial?

[kiklo]

it is getting too hard to follow what is going on with Litecoin's SegWit activation these days, i imagine Charlie Lee running around door to door, talking to everyone and convincing them about SegWit.

anyways i changed the title to TBD (to be determined) since it has been well below 75% for some time and we don't know when that is going to change.

the good news is that price doesn't care about it apparently

Market never did care about deadwit.

It is the direct LTC to FIAT Wallet on Coinbase , that is what matters and when it activates.  




 

Then please explain why litecoin is going up? Of course it has something to do with segwit. Why do you keep telling it is not? Are you trying to make us believe that it is not or are you in denial?

If you bothered to look at the Markets,
you would see the US & Europe are the ones Pushing up the Price and LTC is running a few dollars cheaper on EVERY Chinese YUAN pairing.
http://coinmarketcap.com/currencies/litecoin/#markets

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about,  after it is setup BTC will have zero advantage over LTC in the merchants eyes.
Cheaper fees and faster transactions with no capacity problems.  No one but the BTC Core Trolls give a shit about segwit, because it will not improve LTC at all,
they don't need crappy Offchain Counterfeit Transactions , when they have plenty of Actual Onchain Verifiable Transactions Capacity available.

Look at GDAX it has one of the highest prices for LTC     GDAX   LTC/USD    $8,969,610    $15.42    
Because the rich guys are buying it up , in preparation for the direct coinbase LTC wallet.

Segwit is completely irrelevant and a non issue, shrills push it matters because they want to trick BTC into activating it.
Make up your own mind , from observations of the markets, not unsupported shrills.  


 

FYI:
https://twitter.com/SatoshiLite/status/855157402290671616
Charlie Lee @SatoshiLite Apr 20
Which do you think will happen first?
63%  LTC on Coinbase
37%  LTC locks in segwit

[MontyK]

it is getting too hard to follow what is going on with Litecoin's SegWit activation these days, i imagine Charlie Lee running around door to door, talking to everyone and convincing them about SegWit.

anyways i changed the title to TBD (to be determined) since it has been well below 75% for some time and we don't know when that is going to change.

the good news is that price doesn't care about it apparently

Market never did care about deadwit.

It is the direct LTC to FIAT Wallet on Coinbase , that is what matters and when it activates.  

https://s-media-cache-ak0.pinimg.com/originals/42/a2/77/42a2773ce5496dbb1ca1abd802768b16.jpg


 

Then please explain why litecoin is going up? Of course it has something to do with segwit. Why do you keep telling it is not? Are you trying to make us believe that it is not or are you in denial?

If you bothered to look at the Markets,
you would see the US & Europe are the ones Pushing up the Price and LTC is running a few dollars cheaper on EVERY Chinese YUAN pairing.
http://coinmarketcap.com/currencies/litecoin/#markets

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about,  after it is setup BTC will have zero advantage over LTC in the merchants eyes.
Cheaper fees and faster transactions with no capacity problems.  No one but the BTC Core Trolls give a shit about segwit, because it will not improve LTC at all,
they don't need crappy Offchain Counterfeit Transactions , when they have plenty of Actual Onchain Verifiable Transactions Capacity available.

Look at GDAX it has one of the highest prices for LTC     GDAX   LTC/USD    $8,969,610    $15.42    
Because the rich guys are buying it up , in preparation for the direct coinbase LTC wallet.

Segwit is completely irrelevant and a non issue, shrills push it matters because they want to trick BTC into activating it.
Make up your own mind , from observations of the markets, not unsupported shrills.  


 

FYI:
https://twitter.com/SatoshiLite/status/855157402290671616
Charlie Lee @SatoshiLite Apr 20
Which do you think will happen first?
63%  LTC on Coinbase
37%  LTC locks in segwit

Segwit is more about initiating Lightening and a slew of other new things in the pipeline (It's less about the block size imo)

Oh yeah, and it'll wipe out the ASICBOOST advantage.

[Red-Apple]

Your FUD spam is the reason why self moderated threads exist

You can find information here:

https://www.litecoinpool.org/pools

The last 500 blocks info will continue increasing to over 90 percent within the next 20 hours or so. Frankly I'm hoping for 95 percent to be maintained over the coming days so LTC demonstrates it can even beat the higher threshold.

Once passed I'm looking forward to the Lightning Network announcements. Upcoming confidential transactions announcements is something else I'm interested in as well.

haha, it reached 98.26% for the past 576 blocks in the last 24 hours.
the total is also at 4068 (72.82%)

correct me if i am wrong but i believe if we see 75% SegWit is officially locked it and this period becomes the last one.

Segwit is more about initiating Lightening and a slew of other new things in the pipeline (It's less about the block size imo)

Oh yeah, and it'll wipe out the ASICBOOST advantage.

+ malleability fix.

[JGoRed]

yep as i said earlier the cartel's shorts where having less effect each twitter 'scam' announcement, so sooner or later they had to go long 

And I am very glad that they are losing their effect, although unfortunately, they still have an effect and that allows them to manipulate the market; just not as much.

[shyliar]

If you bothered to look at the Markets,
you would see the US & Europe are the ones Pushing up the Price and LTC is running a few dollars cheaper on EVERY Chinese YUAN pairing.
http://coinmarketcap.com/currencies/litecoin/#markets

Can't really compare Chinese markets to the west right now until coin withdrawal is enabled again. You provided a link to the litecoin markets as your proof; but, looking at bitcoin markets you can see the same lower prices for bitcoin as well.

http://coinmarketcap.com/currencies/bitcoin/#markets

Until the exchanges in China receive regulatory approval (and no one knows when this might be) the discrepancy between exchanges will continue to exist.

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals

Likely, LTC and BTC prices would both be higher if it wasn't for the concerns of the Chinese government.

You also state:

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about,  after it is setup BTC will have zero advantage over LTC in the merchants eyes. Cheaper fees and faster transactions with no capacity problems.  

I don't disagree that the addition to coinbase is going to be benificial with the expanding growth of LTC merchant use. Other payment methods supporting litecoin such as Gocoin, Coinpayments, Alphacoins and Coinify provide some merchant support; but, definitely the exposure with Coinbase helps.

Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy. Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

If the payment processor provides a better conversion rate with LTC, because of the lower fees the customer may notice and choose LTC over BTC.

[kiklo]

Segwit is more about initiating Lightening and a slew of other new things in the pipeline (It's less about the block size imo)

Oh yeah, and it'll wipe out the ASICBOOST advantage.

No argument there, Seqwit is all about making LN trustless so the Bankers can take over crypto.

Litecoin Scrypt ASICS does not have ASICBOOST, only BTC SHA256 ASICS.


 


 

[kiklo]

Your FUD spam is the reason why self moderated threads exist

Fud or Logic , shame you can't tell the difference between the two. 


 

[kiklo]

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about,  after it is setup BTC will have zero advantage over LTC in the merchants eyes. Cheaper fees and faster transactions with no capacity problems.  

I don't disagree that the addition to coinbase is going to be benificial with the expanding growth of LTC merchant use. Other payment methods supporting litecoin such as Gocoin, Coinpayments, Alphacoins and Coinify provide some merchant support; but, definitely the exposure with Coinbase helps.

Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

If the payment processor provides a better conversion rate with LTC, because of the lower fees the customer may notice and choose LTC over BTC.

Good at least we can agree on that.

Did we not say the same thing :
I said: after it is setup BTC will have zero advantage over LTC in the merchants eyes.

You Said:
Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

The People Sending Crypto to buy or pay for stuff are the ones that will prefer LTC over BTC ,
and these people will become aware of the advantages of LTC over BTC in time.
BTC price is already so high many would rather hold it and sell it , than use it as a payment system.
BTC Priced itself out of the micro-payment markets and it is now pricing itself out as a payment system altogether for the poor & middle class.
Only the rich will use it, which is why they are pushing LN for the Poor to use it.
The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system,
really no difference from the current banking setup.  

Welcome to financial slavery 2.0 the Lightening addition.
Satoshi is rolling over in his grave, the Banking Cartels will have destroyed everything he set out to do.


 

[andrei56]

They did publish and agreement but didn't publish a time scale.

They might drag it out for months under the guise of 'testing' so they can play with the market more.

I hope that does not happen, LTC will benefit greatly from approving segwit as fast as it is possible we don’t need more manipulation and political moves like the situation that we have in bitcoin and that is causing some users to lose faith in bitcoin and its future.

[oaks05]

I was looking at coinmarketcap thought the price jumped a bunch than realized they pulled the asian markets from there charts which is smart was pulling down the prices.

[shyliar]

I was looking at coinmarketcap thought the price jumped a bunch than realized they pulled the asian markets from there charts which is smart was pulling down the prices.

Considering withdrawals have been disable since early February it's about time they sidelined the China exchanges when presenting current price. It will be interesting to see how the markets in China react when (if?) these restrictions get removed.

[MontyK]

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about,  after it is setup BTC will have zero advantage over LTC in the merchants eyes. Cheaper fees and faster transactions with no capacity problems.  

I don't disagree that the addition to coinbase is going to be benificial with the expanding growth of LTC merchant use. Other payment methods supporting litecoin such as Gocoin, Coinpayments, Alphacoins and Coinify provide some merchant support; but, definitely the exposure with Coinbase helps.

Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

If the payment processor provides a better conversion rate with LTC, because of the lower fees the customer may notice and choose LTC over BTC.

Good at least we can agree on that.

Did we not say the same thing :
I said: after it is setup BTC will have zero advantage over LTC in the merchants eyes.

You Said:
Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

The People Sending Crypto to buy or pay for stuff are the ones that will prefer LTC over BTC ,
and these people will become aware of the advantages of LTC over BTC in time.
BTC price is already so high many would rather hold it and sell it , than use it as a payment system.
BTC Priced itself out of the micro-payment markets and it is now pricing itself out as a payment system altogether for the poor & middle class.
Only the rich will use it, which is why they are pushing LN for the Poor to use it.
The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system,
really no difference from the current banking setup.  

Welcome to financial slavery 2.0 the Lightening addition.
Satoshi is rolling over in his grave, the Banking Cartels will have destroyed everything he set out to do.


 

"The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system"

So what!  As long as 98% of LTC LN transactions allows people to purchase goods and services, it matters not a fig if it has a remote chance of being counterfeitable.  Comparing it to the current fractional reserve system is extreme to put it mildly.

[Red-Apple]

They did publish and agreement but didn't publish a time scale.

They might drag it out for months under the guise of 'testing' so they can play with the market more.

I hope that does not happen, LTC will benefit greatly from approving segwit as fast as it is possible we don’t need more manipulation and political moves like the situation that we have in bitcoin and that is causing some users to lose faith in bitcoin and its future.

it seems like things didn't take that long to change!
the support is already above 98-99% and staying up there. and looking at this site: https://www.litecoinpool.org/pools i see all the blocks are signalling it.
apart from a couple:
P2Pool (9 GH/s)
LiteGuardian (9 GH/s)
the rest of the 4307 GH/s is signalling it

[kiklo]

"The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system"

So what!  As long as 98% of LTC LN transactions allows people to purchase goods and services, it matters not a fig if it has a remote chance of being counterfeitable.  Comparing it to the current fractional reserve system is extreme to put it mildly.

I guess you enjoy being a slave to a false fractional reserve system. 
LN will not be better than the current system it will be worse.




 

[NoiseBoy]

I know LTC's creator has stated that LTC is not intended to replace BTC, but I can't help but wonder, what point is there in doing anything with BTC anymore?

To rephrase, what does BTC do that LTC doesn't do better?

[kiklo]

I know LTC's creator has stated that LTC is not intended to replace BTC, but I can't help but wonder, what point is there in doing anything with BTC anymore?

To rephrase, what does BTC do that LTC doesn't do better?

Once the Direct LTC to Fiat CoinBase Wallet is active,

LTC will be Faster, Cheaper fee structure, and have the same Merchant access as BTC and have room for 4X BTC Onchain Transactions Volume.

No real reason to own BTC now, even if they activate LN, it's Low onchain capacity & high fee structure is a coin killer.

BTC is old and outdated and it's onchain capacity is still going to be in the toilet compared to every other coin.

LTC should assume the Throne as #1 coin on CoinMarketcap within a year or so.

LTC has become the GOLD , and BTC is just turning to RUST.


 

[kyle8916]

No real reason to own BTC now, even if they activate LN, it's Low onchain capacity & high fee structure is a coin killer.

BTC is old and outdated and it's onchain capacity is still going to be in the toilet compared to every other coin.

LTC should assume the Throne as #1 coin on CoinMarketcap within a year or so.

LTC has become the GOLD , and BTC is just turning to RUST.


 

This post of yours will make you look stupid In a few more months from now.

[kiklo]

This post of yours will make you look stupid In a few more months from now.

I am 84 newbie , I will be happy to still be breathing in a few more months, no matter how I look.
Plus I am more than willing to let history judge my statements.

You however my dufus friend, you are looking stupid Right Now.   

My stop order incurred huge loss to me, triggered at 1310. 1 btc was sold at 1310 and the rest were sold at 1301. Why is there such a huge gap between 1310 and 1301? Then I panicked and blindly buy and sell using the app during the drop, resulting in another $15 loss per btc. Haizz,, I accept it as my loss,, but feel heartache when I think abt it. On a positive note, I haven't had any problems with regards to Fiat and btc withdrawals in quoine but the mobile trading app needs improvement as I cannot see the order book clearly and it processes market orders significantly slower than trading on the website.

 

[Red-Apple]

I know LTC's creator has stated that LTC is not intended to replace BTC, but I can't help but wonder, what point is there in doing anything with BTC anymore?

To rephrase, what does BTC do that LTC doesn't do better?

define better!

a faster block generation time? that has led to a much higher number of orphaned blocks, that not only means you have to wait for much longer for your transactions to be "fully confirmed" but also it means miners lose more block reward each day due to orphan rate.
this also means the blockchain size should technically be bigger and grow faster. and we are already seeing a lot of people bitch and moan about bitcoin blockchain size being big. now imagine if it was 4 times bigger than this.
and also in the end litecoin is still the same altcoins that has been copying code from bitcoin.
activation of SegWit is great because it fixes the malleability problem and also opens up for more features but the most important thing is testing it for bitcoin. and also obviously the short term pump to the moon and making a lot of profit.