will bitcoin activate segwit as litecoin price peaks at 30USD?

[Doofus]

litecoin price increased over 300 percent in a month and Chinese investors had a discussion last week about the future of litecoin. http://news.8btc.com/litecoin-price-peaks-at-30-usd-but-is-it-a-bubble
Since Litecoin is often looked as a Bitcoin testbed, they wonder if btc will soon activate segwit, though Bitcoin keeps meeting opposition from miners.

[joshy23]

litecoin price increased over 300 percent in a month and Chinese investors had a discussion last week about the future of litecoin. http://news.8btc.com/litecoin-price-peaks-at-30-usd-but-is-it-a-bubble
Since Litecoin is often looked as a Bitcoin testbed, they wonder if btc will soon activate segwit, though Bitcoin keeps meeting opposition from miners.

It is a testbed for bitcoin that's why they are activating Segwit on Litecoin. If it is successful, then most likely bitcoin is next. However, we all know that there is still a lot of opposition on Segwit activation on bitcoin network. I hope the scaling drama will end up and just implement Segwit already on bitcoin. So that we can see bitcoin price raise to new level because of this positive news.

[tobacco123]

The potential increase in value will be similar or even bigger. If you use mBTC as the unit, 1mBTC is about $1.60. LTC was about $3 to $4 before segwit...

Just imagine when same thing (Segwit activation) happened to 1 mBTC, the value will be $1.60 x 7 times = $11.20... USD$11,200 per BTC!

But of course I think LTC is in bubble at the moment. It might increase further soon after Segwit but will drop to... perhaps USD$10 in long run...

[azguard]

The potential increase in value will be similar or even bigger. If you use mBTC as the unit, 1mBTC is about $1.60. LTC was about $3 to $4 before segwit...

Just imagine when same thing (Segwit activation) happened to 1 mBTC, the value will be $1.60 x 7 times = $11.20... USD$11,200 per BTC!

But of course I think LTC is in bubble at the moment. It might increase further soon after Segwit but will drop to... perhaps USD$10 in long run...

Think that LTC price will be around 20$ plus minus few bucks. But this is interesting considering that most rejected segwit and all anticipate BU to be implemented. However this may be good call to reconsider they option by everything in this, cuz we seen how segwit can be good thing.

This is only option but good one to think about, what would it be it this comes to life. will BTC went to 5 figures?

[Herbert2020]

you should first let SegWit activate on litecoin, and let it work for a little while then talk about it being bitcoin's "testbed" whatever that means. but yeah i believe it can lead to bitcoin miners adopt SegWit eventually.

and about the price, it is obviously in a bubble but it seems like despite everything else, price has more tendency to go even higher. we may see some more drops soon but i doubt that would be the end of Litecoin rise.

[Decoded]

Value is not synonymous with quality. Personally, I think that the reason that litecoin is worth so much at the moment is that it is trying out a technology that the bitcoin community is not able to, overhyping itself. The price of litecoin, with it's tiny market cap, means that most of it's trades are based on emotion, not logic. Litecoin will defenitely drop in time. It is only a means for people to observe Segwit work in a real world situation.

[pedrog]

litecoin price increased over 300 percent in a month and Chinese investors had a discussion last week about the future of litecoin. http://news.8btc.com/litecoin-price-peaks-at-30-usd-but-is-it-a-bubble
Since Litecoin is often looked as a Bitcoin testbed, they wonder if btc will soon activate segwit, though Bitcoin keeps meeting opposition from miners.

Actually it's the opposite, code is ported to litecoin after it is implemented in bitcoin, litecoin is the ultimate bitcoin clone.

Segregated Witeness activation is the first time litecoin is more advance than bitcoin.

[avikz]

I believe segwit activation on litecoin is to test the network as a whole. If everything goes right, I am sure bitcoin will be the next coin to activate segwit. However, I feel that litecoin price increase is not just because of the segwit, rather for the increase in trading volumes and market cap. This price is hollow and soon will go down to an optimum level.

But I have no doubt that if Segwit is activated in bitcoin, the price will increase to the next level. So an an investors of bitcoin, I hope to see the positive news coming in soon. 

[franky1]

everyone is talking about "activating" segwit.

sorry but please READ the documentation.
activating it is meaningless.. its about USING segwit keypairs to achieve the (half baked gesture) promoted hopes segwit may achieve.

so maybe its best to let segwit run on litecoin and then see if all the (half baked gestures) do reach the HOPES segwit once was promising, but now reworded as 'expecting' or 'stepping stones' towards X.

which can only be done by seeing how many move funds to segwit kys and how the mempool bloat gets affected by people rushing to move funds across and the network benefit/issues it may cause.

then before doing any mandatory implementation or any pow kiling threats for bitcoin. you blockstreamists can actually see if segwit actually fulfils the (cough cough) promises.

if not.. the blockstream better decide to rewrite their code to be a proper 1 merkle 4mb single block with real features, and not just try pushing the cludgy 2merkle soft half baked version in mandatorily. wasting everyones time for an opportunity that could have been used better

[lol3c]

it is hard to know. I dont think that the  Chinese will easily allow segwit to be activated and some will against this strongly. As people know, litecoin and bitcoin are currently in the same pool in chinese and I  dont know why they still ignore segwit in bitcoin and agree segwit in litecoin

[Doofus]

as litecoin mining is on GPUs, does this mean banks and governments can easily control them?

[Wind_FURY]

everyone is talking about "activating" segwit.

sorry but please READ the documentation.
activating it is meaningless.. its about USING segwit keypairs to achieve the (half baked gesture) promoted hopes segwit may achieve.

so maybe its best to let segwit run on litecoin and then see if all the (half baked gestures) do reach the HOPES segwit once was promising, but now reworded as 'expecting' or 'stepping stones' towards X.

which can only be done by seeing how many move funds to segwit kys and how the mempool bloat gets affected by people rushing to move funds across and the network benefit/issues it may cause.

then before doing any mandatory implementation or any pow kiling threats for bitcoin. you blockstreamists can actually see if segwit actually fulfils the (cough cough) promises.

if not.. the blockstream better decide to rewrite their code to be a proper 1 merkle 4mb single block with real features, and not just try pushing the cludgy 2merkle soft half baked version in mandatorily. wasting everyones time for an opportunity that could have been used better

franky1, with all due respect it would be better to write your post more in layman's terms. I know you are a very technical person and most probably a software engineer. But many of us here do not understand most of what you posted or what point you are trying to make.

Can you repost in simpler terms? Thank you very much.

[Netnox]

Segwit needs 95% approval, right? That is practically impossible to achieve. In order to get 95% approval, all the major mining pools without exception must reach a consensus. Right now, the probability of something like that happening seems remote.

[jonald_fyookball]

miners really aren't that impressed by whats going on in litecoin....and they are still feeling burned from HK agreement.  they wont activate segwit as soft fork...only HF with base increase.  true story.

[RoommateAgreement]

miners really aren't that impressed by whats going on in litecoin....and they are still feeling burned from HK agreement.  they wont activate segwit as soft fork...only HF with base increase.  true story.

how is it that they are not "impressed". SegWit is just locked_in. there is still a day and 9 hours left to the real activation of SegWit on litecoin.

apart from that, the SegWit support on litecoin from miners was a full on 100% support, so i would say they were pretty "impressed" that they adopted it like this!

[Qartada]

Segwit needs 95% approval, right? That is practically impossible to achieve. In order to get 95% approval, all the major mining pools without exception must reach a consensus. Right now, the probability of something like that happening seems remote.

That's a misconception about how practical consensus is.  The reality is that Bitcoin is very concentrated to only a few pools and they will decide SegWit, not individual miners who don't care for the most part.

To achieve SegWit in Bitcoin would only take consensus from <20 pools and once SegWit has a very significant majority the rest would follow along just like they did with Litecoin in the end.

[kawasaki5050]

I hear much Segwit as solution of cryptocurrency that can prevent BTC prices but I cannot imagine clearly that It can work well. Who anyone can explain me about it ?

[Traderx]

litecoin is in a bubble bitcoin not

[lighpulsar07]

litecoin price increased over 300 percent in a month and Chinese investors had a discussion last week about the future of litecoin. http://news.8btc.com/litecoin-price-peaks-at-30-usd-but-is-it-a-bubble
Since Litecoin is often looked as a Bitcoin testbed, they wonder if btc will soon activate segwit, though Bitcoin keeps meeting opposition from miners.

Currently segwit in litecoin is locked in and not activated since then, litecoin's price increased dramatically but we will see the results after segwit is activated in litecoin these can change miner's mind.

But in bitcoin? I think it's impossible to activate because segwit activation in bitcoin requires 95% of mining power and also there are major mining pools like antpool are opposed to this proposal. I think the only chance to change the minds of miners is in the results of segwit in litecoin. imo.

[spartacusrex]

Err..

Litecoin IS Bitcoin.. just without the annoying miners blocking everything.

Quite frankly if BTC is incapable of upgrading because of in-fighting.. I see a chance, admittedly small, that CORE simply switch to LTC.

Same code base. Less twats.

I think BTC holders need to be VERY careful. Nothing is guaranteed. Test bed, BTC Jnr.. etc etc..

BTC could be the 'altcoin' if this shit carries on.

Part of me REALLY wants that to happen so that the BTC miners that have fucked this for everybody - BURN!  

But most of me.. doesn't..