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Author Topic: Bitmain deliberately preventing the activation of SegWit on Litecoin?  (Read 12282 times)
BillyBobZorton
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April 20, 2017, 12:22:46 PM
 #21

A dramatic overnight increase in hashrate is taking place in Litecoin. Its hashrate increased 600G overnight on Tuesday. Its Segwit support dropped to 70%.
At the same day, Bitmain’s mining pool Antpool’s hashrate abruptly surged by around 20 percent in a period of few hours, from 200 to nearly 500 GH/S. And to add more drama, Wang Chun, owner of F2Pool, said Bitmain is working on 2X current network hashrate.
Is this coincidence or Bitmain just wants to stop SegWit on Litecoin?

Jihan Wu continues to play games with people's money. His latest antics include not delivering ASICs to customers on time, so he can use all that extra power to block segwit.

If he wasn't from China, in any developed country, he would be in jail already, since that is an obvious crime.
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April 20, 2017, 12:27:56 PM
 #22

LTC is putting itself as an "alpha tester" for BTC. Also, is trying to deliver something different, to attract attention and more money. Is this a bad thing? Not in fact. IMO, is what an altcoin is meant to do: to bring a different approach to a known problem or to add a new feature that makes cryptocurrencies more useful for everyday tasks.

▂▃▅▆█ https://boscoin.io █▆▅▃▂
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April 20, 2017, 01:30:29 PM
 #23

A dramatic overnight increase in hashrate is taking place in Litecoin. Its hashrate increased 600G overnight on Tuesday. Its Segwit support dropped to 70%.
At the same day, Bitmain’s mining pool Antpool’s hashrate abruptly surged by around 20 percent in a period of few hours, from 200 to nearly 500 GH/S. And to add more drama, Wang Chun, owner of F2Pool, said Bitmain is working on 2X current network hashrate.
Is this coincidence or Bitmain just wants to stop SegWit on Litecoin?

Jihan Wu continues to play games with people's money. His latest antics include not delivering ASICs to customers on time, so he can use all that extra power to block segwit.

If he wasn't from China, in any developed country, he would be in jail already, since that is an obvious crime

It will certainly backfire in the future

If he really turned to using these tactics, it may signal that his days are numbered (figuratively speaking). I've read it on some blog that they can no longer develop advanced miners due to technological limits and that alone will eat away at the advantages that Chinese miners right now have. It means that mining equipment will get commoditized, i.e. they won't be able to profit by using and offering more technologically advanced miners since other producers will produce mining equipment of basically the same capacity (just like we are stagnating in desktop CPU's presently)

 
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April 21, 2017, 01:37:35 AM
 #24

Bitmain just wants to stop SegWit on Litecoin?

Largely this. Anyone who thinks Litecoin would cheerfully sail towards Segwit without Bitcoin politics infecting it is on the naïve side. It's nothing to do with LTC and everything to do with BTC.

The more brazen they are the harder they'll eventually fall. Everyone in LTC apart from the usual Chinese cartels wants Segwit.


so du u believe if Segwit activated on Litecoin, it has the chance to surpass BTC?
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April 21, 2017, 01:43:20 AM
 #25

A dramatic overnight increase in hashrate is taking place in Litecoin. Its hashrate increased 600G overnight on Tuesday. Its Segwit support dropped to 70%.
At the same day, Bitmain’s mining pool Antpool’s hashrate abruptly surged by around 20 percent in a period of few hours, from 200 to nearly 500 GH/S. And to add more drama, Wang Chun, owner of F2Pool, said Bitmain is working on 2X current network hashrate.
Is this coincidence or Bitmain just wants to stop SegWit on Litecoin?

Jihan Wu continues to play games with people's money. His latest antics include not delivering ASICs to customers on time, so he can use all that extra power to block segwit.

If he wasn't from China, in any developed country, he would be in jail already, since that is an obvious crime.
i wouldn't use the word "crime", since there is no sound evidence, but i am not buying Bitmain's claim, saying it's just coincidence. but no one knows excatly what's behind this drama.
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