Antpool officially mines a segwit block for LTC

[BillyBobZorton]

Source:

https://www.litecoinpool.org/pools

It looks like it's actually happening this time. How do you interpret Antpool signaling segwit on LTC while Jihan refuses to do it for LTC? Will Jihan finally give in and start signaling on BTC too? (although we would still be far anyway due 95% requirement..)

There has been an agreement, everyone is signaling segwit now on LTC so it will get activated, probably this period (even without Antpool, Antpool just will make it faster and guarantee it happens within this period).

As an LN developer, why bother with BTC when LTC will actually have segwit?

How do you see all of this evolving in relation to BTC?

[Lauda]

I guess once LTC becomes technologically superior to Bitcoin, maybe these bamboozled fools and shills may receive an awakening. The again, I have no hope for the latter individuals with the initials 'f', 'j', 'a', 'd'. The small LTC team has been keeping a nice track of the updates from Bitcoin Core.

As an LN developer, why bother with BTC when LTC will actually have segwit?

It should be pretty trivial to create LN for LTC. LN on Bitcoin is developed using the testnet, which already has Segwit activated. I don't see this changing anytime soon.

How do you see all of this evolving in relation to BTC?

Our communist China overlords do not approve.

[Qartada]

It looks like it's actually happening this time. How do you interpret Antpool signaling segwit on LTC while Jihan refuses to do it for LTC? Will Jihan finally give in and start signaling on BTC too? (although we would still be far anyway due 95% requirement..)

No, Litecoin SegWit was as close to inevitable as possible.  Nearly everyone else is signalling for it.  Jihan will have to give up eventually.

There has been an agreement, everyone is signaling segwit now on LTC so it will get activated, probably this period (even without Antpool, Antpool just will make it faster and guarantee it happens within this period).

As an LN developer, why bother with BTC when LTC will actually have segwit?

Because Bitcoin is Bitcoin.  You could equally ask why the Core developers didn't all just flee to Litecoin ages ago - the answer is because Bitcoin is a huge network which needs development, while Litecoin is a much smaller network and is already very good.

How do you see all of this evolving in relation to BTC?

Well, confidence in SegWit could go either way depending on how well it goes for Litecoin.  Since it'll be practical enough to work, people will probably support SegWit more in Bitcoin and in the very long term that could translate to an increase in miner support as well.

[lurker10]

I guess once LTC becomes technologically superior to Bitcoin, maybe these bamboozled fools and shills may receive an awakening.

Everyone in crypto land knows that technological superiority is not important. If it had value, Bitcoin would have moved to the bottom of the coinmarketcap list years ago. There are dozens of coins technologically superior to Bitcoin, and they have been for years, yet markets don't care.

[Lauda]

I guess once LTC becomes technologically superior to Bitcoin, maybe these bamboozled fools and shills may receive an awakening.

Everyone in crypto land knows that technological superiority is not important. If it had value, Bitcoin would have moved to the bottom of the coinmarketcap list years ago. There are dozens of coins technologically superior to Bitcoin, and they have been for years, yet markets don't care.

You seem to be a prime example of someone getting bamboozled by false marketing (also informative "Blockchain vs. bullshit"). There isn't a single coin that isn't either centralized/scam/ICO/premined/etc. and that is superior to Bitcoin. The worlds leading experts within this new industry are working directly or indirectly on Bitcoin.

You could equally ask why the Core developers didn't all just flee to Litecoin ages ago - the answer is because Bitcoin is a huge network which needs development, while Litecoin is a much smaller network and is already very good.

Core developers != LN developers.

[Butane]

As you pointed it out, what seems really strange here is that AntPool signals SegWit for Litecoin and not for Bitcoin...

[talkbitcoin]

As you pointed it out, what seems really strange here is that AntPool signals SegWit for Litecoin and not for Bitcoin...

nothing strange. it may even be a start to signal it on bitcoin too. you know bitcoin and litecoin are different despite having so many similarities.

in any case this was a good news, the last 24 hours blocks show ~98% support for SegWit on litecoin.

[BillyBobZorton]

I guess once LTC becomes technologically superior to Bitcoin, maybe these bamboozled fools and shills may receive an awakening.

Everyone in crypto land knows that technological superiority is not important. If it had value, Bitcoin would have moved to the bottom of the coinmarketcap list years ago. There are dozens of coins technologically superior to Bitcoin, and they have been for years, yet markets don't care.

You seem to be a prime example of someone getting bamboozled by false marketing (also informative "Blockchain vs. bullshit"). There isn't a single coin that isn't either centralized/scam/ICO/premined/etc. and that is superior to Bitcoin. The worlds leading experts within this new industry are working directly or indirectly on Bitcoin.

You could equally ask why the Core developers didn't all just flee to Litecoin ages ago - the answer is because Bitcoin is a huge network which needs development, while Litecoin is a much smaller network and is already very good.

Core developers != LN developers.

LTC will become de-facto technologically superior than BTC as it will get segwit pretty much guaranteed now. All the developers of lightning networks will move to LTC to not waste his time in stuff that gets stuck in the testnet instead of having a real impact on the market. LTC will go to an ATH.

The hashrate for segwit right now is past 97%, which is ironic since it's higher than the 95% required for BTC.

Even after LTC price explodes and we see all the cool LN stuff on there, im afraid the couple of miners benefiting from ASICBOOST will never give us the 95% required hashrate, so it means UASF must kick in if we ever want to see segwit there, and it will not be easy. In fact, I don't see how UASF can work without a PoW change to defend against possible attacks, which is a messy situation. Meanwhile LTC will smoothly transition to segwit, this is an obvious buy just in case BTC never gets segwit.

[lurker10]

The only thing that makes Bitcoin preferred over other cryptocurrencies is stability and safety, it is the longest running network and for fans of POW, Bitcoin is the most difficult blockchain to attack. Activating Segwit is such a huge change that it will remove this stability and safety - the competitive advantage of Bitcoin. If Segwit is activated and Bitcoin loses this stability safe haven status, why not go for coins that are technologically much more superior, the so-called generation 2 and 3 coins? Bitcoin with Segwit will offer the same level of safety as these other coins but Bitcoin will be much more backward technologically, so it makes no sense to stay invested in Bitcoin with Segwit activated.

Bitcoin should be left alone as a crypto reserve and crypto settlement network, as is, only bugfixes should be done on it.

[Nagadota]

LTC will become de-facto technologically superior than BTC as it will get segwit pretty much guaranteed now. All the developers of lightning networks will move to LTC to not waste his time in stuff that gets stuck in the testnet instead of having a real impact on the market. LTC will go to an ATH.

The hashrate for segwit right now is past 97%, which is ironic since it's higher than the 95% required for BTC.

Litecoin has always been technologically superior to Bitcoin in that it has a higher transaction capacity and better mining algorithm.  It was just a natural development.  However, while I'm all in favour of diversifying and putting a bit into Litecoin as well, I don't think Litecoin is going to be so great that everyone flees to there away from Bitcoin.  Litecoin is still propped up by its higher block reward as well. 

Even if Bitcoin never gets SegWit it'll have value as an immutable asset.  It's just easier to transition into SegWit on Litecoin because there's still less money (and let's be honest, corruption and monopolisation) in Litecoin than Bitcoin, but this will change.

[cellard]

LTC will become de-facto technologically superior than BTC as it will get segwit pretty much guaranteed now. All the developers of lightning networks will move to LTC to not waste his time in stuff that gets stuck in the testnet instead of having a real impact on the market. LTC will go to an ATH.

The hashrate for segwit right now is past 97%, which is ironic since it's higher than the 95% required for BTC.

Litecoin has always been technologically superior to Bitcoin in that it has a higher transaction capacity and better mining algorithm.  It was just a natural development.  However, while I'm all in favour of diversifying and putting a bit into Litecoin as well, I don't think Litecoin is going to be so great that everyone flees to there away from Bitcoin.  Litecoin is still propped up by its higher block reward as well.  

Even if Bitcoin never gets SegWit it'll have value as an immutable asset.  It's just easier to transition into SegWit on Litecoin because there's still less money (and let's be honest, corruption and monopolisation) in Litecoin than Bitcoin, but this will change.

When the fees on bitcoin are so high that you cannot properly make payments that aren't bigger than this high fee, you better believe that Litecoin with SegWit and Lightning Network will continue going up since the use of it as an actual tool to make payments is viable. BTC will end up as a hodlers coin like gold with barely any transactions (who wants to pay for example, a subscription to a website while paying $1 fee or higher, when you have LTC?)

But BTC always will get updated faster since LTC just copies Core's code, but will benefit from activating segwit from said updates in a better way.