BITCOIN or LITECOIN on segwit, which one is first?

shyliar

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Quote from: joshy23 on April 28, 2017, 07:42:28 AM

SegWit activation of LTC is in preparation on Bitcoin activation. They want to test how Segwit will work. But I don't think the LTC needed Segwit by the way, LTC haven't reached max block size limit yet, so I believed that this is just like a experimentation on the functionally of Segwit and how LTC will react to it.

Here's a link for you to know the reason behind Segwit adoption by LTC. It never had anything to do with blocksize limit (I'm a little surprised people are still mentioning that with all the information available). Also, it's primarily bitcoin supporters who view it as an experiment for BTC, litecoin developers are interested in seeing it proceed on BTC; but, intended to proceed no matter what bitcoin does.

https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b

What I'm looking forward to is the first version of the lightning network being released with LTC as the settlement layer. Based on tests performing well on the LTC testnet likely we will see LN transactions before the end of May.

joshy23

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SegWit activation of LTC is in preparation on Bitcoin activation. They want to test how Segwit will work. But I don't think the LTC needed Segwit by the way, LTC haven't reached max block size limit yet, so I believed that this is just like a experimentation on the functionally of Segwit and how LTC will react to it.

mynhpark

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Regarding Bitcoin:

Segregated Witness, often abbreviated to SegWit, is a proposed update to the Bitcoin software. Originally, the update was aimed at solving transaction malleability. However, SegWit offers a range of other advantages and by now, the focus of attention has shifted from fixing the transaction malleability to solving the problem of Bitcoin scaling. By solving transaction malleability, SegWit eliminates what used to be a minor problem for Bitcoin itself, but a major barrier to implementing second-layer solutions on top of it. One of those solutions is the proposed Lightning Network, which is expected to allow for a massive increase in the network capacity by moving the bulk of transactions off the Blockchain for quick processing.

Moreover, Bitcoin is targeting record highs as data suggests support for Segregated Witness (SegWit) update Bitcoin protocol could be as high as 91 percent. Current conditions put Bitcoin at an extending upward trend lasting since March.

Hopefully after LITECOIN comes BITCOIN second on segwit activation...

andrei56

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Quote from: JeffBrad12 on April 23, 2017, 06:35:30 PM

Quote from: andrei56 on April 21, 2017, 05:52:22 PM

Quote from: mynhpark on March 31, 2017, 08:10:40 AM

Litecoin prices surged nearly 70% yesterday, ending months of stagnant market activity. According to the data, most of the trading has taken place on Poloniex, OKCoin and Huobi. As of today, Litecoin 24 hour volume is greater than Ethereum by nearly 20%.

Some say this is due to the efforts to integrate segregated witness (segwit) with Litecoin. Others say that traders are simply chasing possible gains in the altcoin markets.

What is your opinion on this? Do you think both Bitcoin and Litecoin will get segwit integration? How will this affect their prices? Which one will get segwit integration first: Bitcoin or Litecoin?

This is a no contest LTC is very close to activate segwit this is a matter of at most one or two weeks in my opinion and it is very obvious the price of LTC is going to grow simply because the users are very optimistic about this new development in the coin and I will be honest I’m excited too to see how segwit performs.

With the faster block than bitcoin My guess you just see a little perform by segwit itself. Segwit to solving the scalability problem. And improving the blocksize.

The segwit of ltc is about the hype for the litecoin market itself. In this time the price of litecoin is $13.
In my opinion, we are near to 1 billion market cap.

1 billion is real for litecoin. Segwit in litecoin is not about the scalability but it's about to attract a new hype or demand to follow litecoin market.

Even if it is a ploy to get more users, and I think you are right on that, since litecoin was already fast, I think it is a step on the right direction, because the miners on bitcoin need to see that approving segwit will make bitcoin more valuable so they are not going to lose money as they think.

JeffBrad12

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Quote from: andrei56 on April 21, 2017, 05:52:22 PM

Quote from: mynhpark on March 31, 2017, 08:10:40 AM

Litecoin prices surged nearly 70% yesterday, ending months of stagnant market activity. According to the data, most of the trading has taken place on Poloniex, OKCoin and Huobi. As of today, Litecoin 24 hour volume is greater than Ethereum by nearly 20%.

Some say this is due to the efforts to integrate segregated witness (segwit) with Litecoin. Others say that traders are simply chasing possible gains in the altcoin markets.

What is your opinion on this? Do you think both Bitcoin and Litecoin will get segwit integration? How will this affect their prices? Which one will get segwit integration first: Bitcoin or Litecoin?

This is a no contest LTC is very close to activate segwit this is a matter of at most one or two weeks in my opinion and it is very obvious the price of LTC is going to grow simply because the users are very optimistic about this new development in the coin and I will be honest I’m excited too to see how segwit performs.

With the faster block than bitcoin My guess you just see a little perform by segwit itself. Segwit to solving the scalability problem. And improving the blocksize.

The segwit of ltc is about the hype for the litecoin market itself. In this time the price of litecoin is $13.
In my opinion, we are near to 1 billion market cap.

1 billion is real for litecoin. Segwit in litecoin is not about the scalability but it's about to attract a new hype or demand to follow litecoin market.

andrei56

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Quote from: mynhpark on March 31, 2017, 08:10:40 AM

Litecoin prices surged nearly 70% yesterday, ending months of stagnant market activity. According to the data, most of the trading has taken place on Poloniex, OKCoin and Huobi. As of today, Litecoin 24 hour volume is greater than Ethereum by nearly 20%.

Some say this is due to the efforts to integrate segregated witness (segwit) with Litecoin. Others say that traders are simply chasing possible gains in the altcoin markets.

What is your opinion on this? Do you think both Bitcoin and Litecoin will get segwit integration? How will this affect their prices? Which one will get segwit integration first: Bitcoin or Litecoin?

This is a no contest LTC is very close to activate segwit this is a matter of at most one or two weeks in my opinion and it is very obvious the price of LTC is going to grow simply because the users are very optimistic about this new development in the coin and I will be honest I’m excited too to see how segwit performs.

mynhpark

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The litecoin miners and developers have reached an agreement to activate segregated witnesses (segwit) and to increase litecoin’s blocksize of 1MB once its blocks are over 50% of the currency’s capacity.

The agreement is signed by Charlie Lee, Litecoin’s founder, F2Pool, BW, Bitmain, LTC1BTC, Huobi, OKCoin and others. It, however, states that it is not binding on the litecoin network.

It is likely that the price rise of nearly 10%, during the last 5 hours is due to this agreement.

X-ray

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Quote from: XbladeX on April 18, 2017, 05:57:15 AM

Quote from: mynhpark on April 18, 2017, 03:34:03 AM

Indeed, it looks like Litecoin will get Segwit first...

And will BTC get segwit ever Cheesy

?

It will not, Bitcoin will never ever get segwit to fix the malleability. The community has divided.

Both of the community is attacking each other. This will make the problem will always be there and never gets resolved in the future.

No one of the parties will win the round. The important thing is to attract the voters. UASF is the forced way to activate the segwit.

XbladeX

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Quote from: mynhpark on April 18, 2017, 03:34:03 AM

Indeed, it looks like Litecoin will get Segwit first...

And will BTC get segwit ever Cheesy

?

mynhpark

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Indeed, it looks like Litecoin will get Segwit first...

shyliar

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Quote from: Kevin77 on April 13, 2017, 02:36:08 PM

Is this the same for bitcoin as well ? 30 days ? I mean passing the threshold was the biggest issue I agree but keeping it there for 30 days is a whole another monster, one big pool leaving and they might go down again, than restart the clock, I can’t think after 29 days someone withdrawing and making it lower than 75%, that would suck a ton.

I think this is good for investors tough, buy LTC now and wait 30 days with the hopes of segwith and LN, if that happens than you will profit, if not, just sell.

No, locked-in means locked in. The additional grace period is to allow non-complying pools and miners time to upgrade software. It's designed that way to be helpful to everyone concerned.

batang_bitcoin

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Quote from: thebatletbet on April 13, 2017, 03:25:11 PM

litecoin the first use segwit
bitcoin is many problem many issue, to bitcoin price speculation up and down
without consensus bitcoin dev still very dificult segwit VS bitcoin unlimited still batle

Yes segwit is like a trial for LTC and it looks good for it. Once it will be a good result and completely done for sure it will be applied to bitcoin too. And once it was applied to bitcoin then we will see the price of bitcoin to become stable and will probably skyrocket just like what happened to LTC.

thebatletbet

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litecoin the first use segwit
bitcoin is many problem many issue, to bitcoin price speculation up and down
without consensus bitcoin dev still very dificult segwit VS bitcoin unlimited still batle

Kevin77

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Is this the same for bitcoin as well ? 30 days ? I mean passing the threshold was the biggest issue I agree but keeping it there for 30 days is a whole another monster, one big pool leaving and they might go down again, than restart the clock, I can’t think after 29 days someone withdrawing and making it lower than 75%, that would suck a ton.

I think this is good for investors tough, buy LTC now and wait 30 days with the hopes of segwith and LN, if that happens than you will profit, if not, just sell.

shyliar

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Quote from: aoluain on April 13, 2017, 02:57:44 AM

only another 13 days or a little over for the segwit signaling to hold aboce 75%
Currently above 81%.

Not sure why you state 13 days since the current activation period will end in about 1.5 days at the time of this posting. Then the sixth activation period of 8064 blocks begins. We will need it to hold above 75% for that activation period. Currently approximately 15.5 days before lock-in occurs. About 29.5 days before the first segwit block is mined.

vlom

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476/576 (82.64%) blocks signaling in the past 24 hours!

litecoin will make it happen.

aoluain

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Support for segwit on litecoin have already grown to near activation threshold http://litecoinblockhalf.com/segwit.php

Quote from: Simple_minds on April 13, 2017, 02:32:24 AM

Well LTC have thrashed the threshold...not much movement in price so far...looks like ppl are cautious...would it be good idea to get hold of some LTC during this calm before the storm??? Pretty new to this crypto thing... Undecided

Yea not too much action from yesterday through to today.
Price is hovering around $11.50 0.0095btc.

only another 13 days or a little over for the segwit signaling to hold aboce 75%
Currently above 81%.

I think the markets are cautious for sure after the last calamity with Wu twittering.
Which may happen again.

Simple_minds

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Well LTC have thrashed the threshold...not much movement in price so far...looks like ppl are cautious...would it be good idea to get hold of some LTC during this calm before the storm??? Pretty new to this crypto thing... Undecided

Raxitto

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The battle continues at the frontier of mining companies, rumors circulate on Twitter and other social networks with some pivots that stand out in this fight among them Greg Maxwell (CTO of Blockstream) and Jihan Wu (CEO of Bitmain). And now the main rumor has it that manufacturers are hampering SegWit expecting ASICBoost to generate more profit as reported. Major manufacturers are now using what does not yet officially exist, the aforementioned ASICBoost, and many speculate who these manufacturers would be, and who would be the beneficiaries of this lucrative new way of mining bitcoin.

mobnepal

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Quote from: Simple_minds on April 12, 2017, 07:34:31 AM

I neither hold or mine LTC, but i'd love to see segwit activated soon and gives this segwit thing a rest...hates it when politics starts.

Support for segwit on litecoin have already grown to near activation threshold http://litecoinblockhalf.com/segwit.php

Quote

428/576 (74.31%) blocks signaling in the past 24 hours!

I am going to bed tonight without holding any LTC and i think when i will wake up there will be lots of drama on market after segwit activation.

Topic: BITCOIN or LITECOIN on segwit, which one is first? (Read 3477 times)