Jihan blocks segwit on LTC: price crashes

[jonald_fyookball]

Litecoin price is going up because its being added to Coinbase, which will GREATLY increase its adoption and exposure. The only way SegWit has anything to do with it is if AXA/Bilderberg-funded Blockstream is pumping it to try to correlate a price increase with SegWit adoption.

Not sure you guys are getting it yet, but no one is buying your stories. First, the failure of Bitcoin Foundation and now SegWit is dying, I fear how desperate you guys might get. My guess is you'll eventually resort to outright bans (India?) and start arresting people for using it. That will also fail.

Enjoy your ivory towers while they last.

You don't think it has anything to do with the fact lightning allows cross-blockchain payments?

so if both activate segwit, you'll be able to make payments between LTC and BTC without needing a centralized exchange to exchange your coins, just type in the address and press send.

They already have something for that: shapeshift.io. And they aren't fucking around with the code, they just do it.

uhh.. no.  shapeshift is a centralized exchanged.   he is talking about trustless exchange without a third party...

...which is going to be AWESOME!  

This is a GREAT use case for LN.

[cryptoanarchist]

Litecoin price is going up because its being added to Coinbase, which will GREATLY increase its adoption and exposure. The only way SegWit has anything to do with it is if AXA/Bilderberg-funded Blockstream is pumping it to try to correlate a price increase with SegWit adoption.

Not sure you guys are getting it yet, but no one is buying your stories. First, the failure of Bitcoin Foundation and now SegWit is dying, I fear how desperate you guys might get. My guess is you'll eventually resort to outright bans (India?) and start arresting people for using it. That will also fail.

Enjoy your ivory towers while they last.

You don't think it has anything to do with the fact lightning allows cross-blockchain payments?

so if both activate segwit, you'll be able to make payments between LTC and BTC without needing a centralized exchange to exchange your coins, just type in the address and press send.

They already have something for that: shapeshift.io. And they aren't fucking around with the code, they just do it.

uhh.. no.  shapeshift is a centralized exchanged.   he is talking about trustless exchange without a third party...

...which is going to be AWESOME!  

This is a GREAT use case for LN.

I understand the difference, but the result is the same. If anything, we need more shapeshifts. Trustless exchange is like BitSquare. Both BitSquare and LN seem unnecessary to me.

[The One]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

[Searing]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

Not enough gas in that tank, unless other pools conspire with him.
Though, Imho, he would if he could.

[AngryDwarf]

LTC has enough hash rate support to perform a UASF, so Jihan fighting against it would be rather futile waste of resources when is main focus is on BTC. By letting LTC have its segwit and eat it, he probably hopes all the segwitters will flock to LTC. Also helps him fix his scrypt miner firmware issues. 

[XbladeX]

LTC has enough hash rate support to perform a UASF, so Jihan fighting against it would be rather futile waste of resources when is main focus is on BTC. By letting LTC have its segwit and eat it, he probably hopes all the segwitters will flock to LTC. Also helps him fix his scrypt miner firmware issues. 

Since that fucker have 30% of mining power then LTC is giving him NICE profits.
That is why i don't give shit to LTC at all . Whole is centralized in central mining in CHina.
Now 12brave miners calls them selves users and will be LTC government so without miners any further change to protocol can not be implemented .

From one reason is good for them to have segwit for second that shows (Jihan ) have to much power in that "decentralized" system it makes me feel as JOKE from all decentralization.

[kiklo]

LTC has enough hash rate support to perform a UASF, so Jihan fighting against it would be rather futile waste of resources when is main focus is on BTC. By letting LTC have its segwit and eat it, he probably hopes all the segwitters will flock to LTC. Also helps him fix his scrypt miner firmware issues.  

Since that fucker have 30% of mining power then LTC is giving him NICE profits.
That is why i don't give shit to LTC at all . Whole is centralized in central mining in CHina.
Now 12brave miners calls them selves users and will be LTC government so without miners any further change to protocol can not be implemented .

From one reason is good for them to have segwit for second that shows (Jihan ) have to much power in that "decentralized" system it makes me feel as JOKE from all decentralization.

Hmm,

are you unaware that BTC Mining is also Centralized to China.  

China basically owns BTC & LTC with more than enough to 51% attack either or both.  


 

[Silberman]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

I don’t see why he could not do that, while this may be different when done in crypto , this is similar to what happens with stocks, someone with insider information, like the CEO can do everything in his power to pump the stock and then sell.

[The One]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

I don’t see why he could not do that, while this may be different when done in crypto , this is similar to what happens with stocks, someone with insider information, like the CEO can do everything in his power to pump the stock and then sell.

In the UK, CEOs and directors are limited by law when they buy/sell shares. There are certain window (time) when they are banned from taking advantages of good/bad news.

Cryptocurrency is the true "wild west."

[RoommateAgreement]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

I don’t see why he could not do that, while this may be different when done in crypto , this is similar to what happens with stocks, someone with insider information, like the CEO can do everything in his power to pump the stock and then sell.

there is certainly a lot more things that are going on behind the scenese that we may never find out unless someone from that behind the scenese goes rogue and shares the secret plans with us. maybe in a couple of years though.
but until that day we are only left with speculation. and this one seems plausiable enough to be true since they changed their minds so fast!

[Chef Ramsay]

yep, its gonna get real quiet on here....LMAO

Yep. With LTC a done deal it seems.

http://www.coindesk.com/litecoin-miners-back-plan-support-segwit-blockchain-upgrade/

https://www.youtube.com/watch?v=V1tmkAFb_Os

And like that, he's gone? Did you mean to link to that video?

Oh, btw, I just made your recipe for Yorkshire Puddings and they turned out great. Very light and fluffy.

Searing dropped the mic, that's what I was pointing out. LTC is surging and this coming addition on Coinbase will keep the segwit train moving forward in epic fashion.

lol...keep dreamin'!

Dude, my number one allegiance is to Bitcoin, first and foremost. It's just so obvious that at some point LTC was going to turn around after stagnation and the added advantage of segwit coming along w/ being eventually offered on Coinbase is bullish and it's playing out for the world to see. If you want to play the ostrich and not get a piece of this action, to each his own.

pfft...I bought thousands of LTC when it was less than a penny, but I'll sell every last one of them if they adopt SegWit.

So what the hell is your problem if you're sitting on that many? You should be in your glory right now.

[btbrae]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

Yeah, I have a feeling Litecoin's story of King Arthur, Camelot and the knights of the round table is all a bit fairy tale and the real world is going to bite before this is over. Charlie Lee is either naive or he's in on it, but manipulating Segwit to tear 10-20% moves in the market even 3 or 4 times is going to make somebody a lot of money. Therefore I go with that scenario. Greedies gonna greed.

Also some of these supposed "pools" have significant in-house hashing capability. They have given their word that their pool will signal SW, yes, but don't rule out them repackaging some of that hashrate under another banner and guising itself as a latecomer to the party, disrupting the vote.

[classicsucks]

OK so miner support is a 92%, Segwart is almost activated on LTC. Big whoop. Let all of these Lite-pumpers eat all of the pain of Segwart implementation. LTC can go back to being a useless shitcoin after the hype dies and the price collapses.

I'm happy that Core's Segwart code is getting used in a production environment, and I'm also very happy that it's NOT on the BTC chain.

Nice job forcing Charlie Lee to commit to an LTC blocksize increase before supporting Segwart. Of course, the Hong Kong agreement stipulated the same thing for BTC but was never honored...

[Searing]

OK so miner support is a 92%, Segwart is almost activated on LTC. Big whoop. Let all of these Lite-pumpers eat all of the pain of Segwart implementation. LTC can go back to being a useless shitcoin after the hype dies and the price collapses.

I'm happy that Core's Segwart code is getting used in a production environment, and I'm also very happy that it's NOT on the BTC chain.

Nice job forcing Charlie Lee to commit to an LTC blocksize increase before supporting Segwart. Of course, the Hong Kong agreement stipulated the same thing for BTC but was never honored...

IF this LTC seg witness works on LTC...it can ONLY benifit BTC......a coordination where code is tested on LTC network first (devs incentive to get $$$ of LTC up) and
BTC's reluctance to do so ...due to the billions it is worth (btc gets its hand held on upgrades)

this could work damn well for both cryptos....as a way to by pass some drama with some facts

crypto....moon or doom ..it is always moon or doom

[dinofelis]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

Yeah, I have a feeling Litecoin's story of King Arthur, Camelot and the knights of the round table is all a bit fairy tale and the real world is going to bite before this is over. Charlie Lee is either naive or he's in on it, but manipulating Segwit to tear 10-20% moves in the market even 3 or 4 times is going to make somebody a lot of money. Therefore I go with that scenario. Greedies gonna greed.

As far as I see, there has been some meeting of the Board of the Central Banking on LTC...
It has an effect, LTC volume is now near that of bitcoin (and no congestion in sight )

[anonymoustroll420]

I understand the difference, but the result is the same. If anything, we need more shapeshifts. Trustless exchange is like BitSquare. Both BitSquare and LN seem unnecessary to me.

No this is nothing like BitSquare or anything else. BitSquare isn't trustless, it uses a multisig escrow.

LN connects the two blockchains together. There is no need for an escrow, it is truly trustless, and it allows for a lot more than just exchanging currency.

So if a LTC user wanted to pay a BTC user, currently this is how it would go with a centralized exchange:

1. Create account at exchange and comply with any AML requirements (ID etc)
2. Send LTC to exchange
3. Wait for one confirmation.
4. Hope the exchange doesn't steal your money
5. Exchange LTC into BTC
6. Withdraw BTC into your wallet
7. Wait for one confirmation
8. Send BTC to user

With BitSquare, the difference would be step 4:
"Hope escrow and seller don't co-operate to steal your money"

Here's how it works with LN:

1. Open LTC wallet
2. Type in users BTC address
3. Press send
4. Wait 1 second
5. LTC has been exchanged for BTC and has arrived at destination, no confirmation required, no trust involved, no escrow.

[Searing]

Did you guys check the news? Jihan is now supporting segwit, the signaling is going on as we speak, or they signaling 1 block at least, I suspect they are setting things up and will start signaling it continuously until it locks in, price could surge a lot. Bought a bit myself, don't want to miss that.

Cobble has done a fantastic diplomatic job getting everyone on the table and reaching an agreement. Unfortunately, this seems unlikely with Bitcoin (or maybe fortunately, since I wouldn't like other than segwit activated without no other compromises)

What's clear to me is, LTC will benefit greatly price wise!

Possible theory. Ji buys LTC low. Ji supports seggy. LTC price soars. Ji sell LTC. Ji withdraws support for seggy. LTC price collapse.

Repeat and rinse all year.

Yeah, I have a feeling Litecoin's story of King Arthur, Camelot and the knights of the round table is all a bit fairy tale and the real world is going to bite before this is over. Charlie Lee is either naive or he's in on it, but manipulating Segwit to tear 10-20% moves in the market even 3 or 4 times is going to make somebody a lot of money. Therefore I go with that scenario. Greedies gonna greed.

As far as I see, there has been some meeting of the Board of the Central Banking on LTC...
It has an effect, LTC volume is now near that of bitcoin (and no congestion in sight )

Interesting.....very interesting........

[The One]

I understand the difference, but the result is the same. If anything, we need more shapeshifts. Trustless exchange is like BitSquare. Both BitSquare and LN seem unnecessary to me.

No this is nothing like BitSquare or anything else. BitSquare isn't trustless, it uses a multisig escrow.

LN connects the two blockchains together. There is no need for an escrow, it is truly trustless, and it allows for a lot more than just exchanging currency.

So if a LTC user wanted to pay a BTC user, currently this is how it would go with a centralized exchange:

1. Create account at exchange and comply with any AML requirements (ID etc)
2. Send LTC to exchange
3. Wait for one confirmation.
4. Hope the exchange doesn't steal your money
5. Exchange LTC into BTC
6. Withdraw BTC into your wallet
7. Wait for one confirmation
8. Send BTC to user

With BitSquare, the difference would be step 4:
"Hope escrow and seller don't co-operate to steal your money"

Here's how it works with LN:

1. Open LTC wallet
2. Type in users BTC address
3. Press send
4. Wait 1 second
5. LTC has been exchanged for BTC and has arrived at destination, no confirmation required, no trust involved, no escrow.

How is that possible. One can not send 1 LTC and expect it to become 1 BTC. They have different values.

[dinofelis]

5. LTC has been exchanged for BTC and has arrived at destination, no confirmation required, no trust involved, no escrow.

How is that possible. One can not send 1 LTC and expect it to become 1 BTC. They have different values.

This is also what I wondered !  Of course, the transaction can contain an exchange rate which is previously agreed-upon with the counterparty.  But the danger with this trick is of course, that the counter party can take your exchange in hostage the duration of the settling period, and decide to accept it, or to "settle on the chain" depending on the evolution of the exchange rate later.

[The One]

5. LTC has been exchanged for BTC and has arrived at destination, no confirmation required, no trust involved, no escrow.

How is that possible. One can not send 1 LTC and expect it to become 1 BTC. They have different values.

This is also what I wondered !  Of course, the transaction can contain an exchange rate which is previously agreed-upon with the counterparty.  But the danger with this trick is of course, that the counter party can take your exchange in hostage the duration of the settling period, and decide to accept it, or to "settle on the chain" depending on the evolution of the exchange rate later.

If you read anonymoustroll420 post, "4. Hope the exchange doesn't steal your money" - is the same as counterparty. anonymoustroll420 doesn't explain how the exchange of LTC value to BTC value works in LN, i can't see how it works either. anonymoustroll420 said LTC to BTC as in "one for one exchange." A code can not possibly calculate an exchange rate without 3rd party input via API, for example. It would require advance Artificial Intelligence that i don't know about.