Topic: Bitcoin scaling: Looks like all roads lead to LTC - page 5. (Read 6636 times)

Indeed, this can be a minus factor for LiteCoin. However, if the SegWit can be successful then we should expect people to buy big volume of LiteCoin in the hope of making some profits. In other words, this can open up for a pump and dump situation. Anyway, let's hope that another altcoin can shine its own star alongside Ethereum and those in the top 10. I am thinking now of buying some LiteCoin.

I sold my LTC. It broke down out of the symmetric wedge. Now we have to see if it is a false breakdown with a pullback. Otherwise it is headed back to 0.0075 or below. The market apparently is very doubtful, so maybe we have to pullback and reload.

Lite coin has been here in the market for quite some time now and I think the only reason it was not as successful as the bitcoin is because they didn’t promote it as much, they worked on the core and everything but they were not able to give people a way to spend it on, like if you browse the net for places to spend lite coin you won’t be able to find as much as bitcoin, and that made its user base and the people who are still using It a few, even though it claims to have faster transactions than bitcoin.

well yeah it would be similar but comparing bitcoin's market with litecoin's market is not really right since the market size of litecoin is not even close although litecoin is one of the biggest altcoins out there.

but in any case i agree that price will love SegWit activation both in litecoin and bitcoin.

Seeing how smooth stuff goes with LTC and well LTC price reacts to Segwit, I d expect this to increase possibility of BTC taking the same path.

I m sure BTC price will react to this the same way, should this take place.

The SegWit signaling has fallen back to 68 - 69%. One could postulate that all spare capacity for mining LTC was already brought onboard with the recent price increase. And that Bitmain will gradually eat away at that by producing more L3s which they keep for themselves to mine on LTC and block SegWit. The competitors may not have much resources as Bitmain, or just the fact that the L3 is twice as efficient as the A4 competition. I am not sure if that is the only scenario though. Maybe BTCC hasn't yet unleashed their GPU farm on LTC because perhaps they want to wait for a higher price. Maybe they want to stimulate one more price pump before making their move. There have been hacking attacks that have moved hashrate to different pools. So I don't know if a similar attack has been employed on LTC pools. I noticed some significant change in the LTC pool distribution compared to yesterday.

https://web.archive.org/web/20170406082911/https://www.litecoinpool.org/pools

https://web.archive.org/web/20170405041023/https://www.litecoinpool.org/pools

I had the thought that even if SegWit doesn't get activated, Litecoin has 4X more capacity in its blocks than Bitcoin, so it will have lower transaction fees. Yet I don't know if that would be compelling enough without real scaling.

Edit: Okay I was mistaken in thinking the activation period was only 24 hours. It is 2 weeks:

https://www.reddit.com/r/litecoin/comments/63nb70/how_long_does_it_need_to_be_over_75_before/

Edit#2: Ah I see it must be a specific retarget period!

meanwhile bitcoins segwit 31% block flagging is only temporary due to a hack expect it to drop back down below 30% in the next fortnight

https://twitter.com/f2pool_wangchun/status/848582740798611456

^^ looks like someone is very happy with himself

anyways all this is good in my opinion, litecoin being the copy of bitcoin and being the biggest altcoin out there and also oldest means the activation of SegWit on it can really change many perspectives. and eventually maybe we can see some changes over here too.

i'll try to enjoy the ride for now

We can't get 95% to activate SegWit on Bitcoin without Bitmain's approval. They have every right to protect their patent's value. Those who think Bitcoiners will rally to fight him are socialists and communists, who deny capitalism, game theory, and economic reality.

We can't lower the 95% threshold for Bitcoin, because it will cause too much risk and wild price swings.

Also we shouldn't be putting such experimental shit on Bitcoin. Bitcoin is supposed to remain reliable.

Sorry Bitcoin will remain unmodified, as Satoshi (aka Nash) intended its equilibrium game theory to be a clusterfuck of politics insuring the immutability of the protocol which is what gives Bitcoin its trust and value.



Got LTC yet? 

And now finally we understand that indeed scaling can only happen on Litecoin:

Nearly all the threads over here are about scaling.

This topic is about scaling.

Are you butthurt because you did not pay attention to my posts days ago?

Sounds like a nice pump topic which doesn't belong here.

There's way more to it than just scaling. I think Core themselves often say the scaling is a happy byproduct. It opens the door to a lot of extra functionality that isn't possible, or at least isn't advisable, right now. 

This is just a publicity stunt for people that own a ton of LTC and want to see the price pumped a little bit, this isn't going to mean anything for anyone based on the fact that no one is using LTC to the scale of Bitcoin being used. I don't think I can name anyone nor any company that is going to accept LTC for a transaction so it's really just a waste for them to be doing something like this.

No one is going to just move to LTC based on the fact that they're doing a scaling solution on a coin that isn't even having a scaling issue.

Big Publicity stunt for a select few to stand to make a ton of money, ignore it and move on to trying to make Bitcoin better with getting the miners to agree on something here. Gosh, avoiding the problem isn't going to do anything.

I traded the high 0.0113 and re-entered at 0.01. I am and have been 100% in LTC since $6.50. I invest based on fundamentals and my conviction. I am not really a trader.

I think it may push higher from here, but even if it dips to 0.009, I am happy holding this position, because all BTC holders who want to pay for goods & services have to come to LTC over the next year or so, else they won't be able to afford to transact. Speculation in BTC can of course continue on exchanges at low transaction fees because these aren't blockchain transactions, but if you hold your balances always on exchanges, eventually you will lose your money due to hacks and thefts.

LTC should rise over the next year or so to at least 0.05. It will likely overshoot to something ridiculous such as 0.2, due to way greater fool mass manias and speculation play out.

So 0.01 or 0.009 is splitting hairs. You run the risk of chasing it and never getting on board.

Bitcoin will never get SegWit, Lightning Networks, nor larger blocks. Anyone still talking/writing about that are wasting their breath/fingertips.

Right now we are in the attitude readjustment phase where Bitcoiners slowly pour cold water on their face and wake up to reality.

LTC is a good buy long term for this year but as of now it's bubbled, no way im getting back in under 0.009 hopefully by tomorrow we've corrected around there.

One day it had 100k$ trading volume for 24H, and now it has fucking 21B$ trading volume on btc-e. Talkin about ltc obviously.

Don't enter from here or else you'll get burned. Fontas made a cumback it seems. Don't fall for it.

Great analysis. Meanwhile bitcoin community is waiting silently and watching how cake is being stolen before their eyes.
I always thought that Bitcoin will be number 1 forever, but apparently some coins need to dethrone BTC or at least come close enough to doing so.
Only then bitcoin community and miners will start to react. Current hibernation and simply 'existing' may be not enough to retain the King status.
Next weeks after SegWit activation for LTC will be crucial, please wake up BTC community.

But I hope they rename the currency unit to 'ecoin' instead of 'Litecoin'

My prediction that BTC would remain range bound until LTC catches up, is so far proving to be true.

The simple reason for this is that the market is not stupid. The market knows that Bitcoin can't ever get any scaling improvements to its protocol. Bitcoin will forever be relegated to small blocks, because it was intended that Bitcoin be the most reliable (i.e. no experimental shit) settlement layer for the power brokers of finance. As the fee per transaction rises to $10 on Bitcoin over this year (and let's guess $100 per transaction by 2019), then most of us will not transact on Bitcoin any more. We will transact on Litecoin. And Blockstream will transfer its efforts to Litecoin, which will give Litecoin legitimacy.

So Bitcoin can't move higher until it is assured that Litecoin will provide the scaling solutions that our ecosystem needs so that blockchains can begin to invade the mainstream world of payments systems and fractional reserve banking. Upthread I explained why Ripple is dogshit, so I expect once it becomes clear that Litecoin will have Lightning Networks coming, then Ripple will collapse. So the smart money should be moving from Ripple to Litecoin.

Note the current jump to $12 looks like it might be overheated and too fast, so I'd be cautious about buying too much too fast. Average in your buys in case we get a dip, but do get some now (nibble) if you don't have any because price can run higher yet. Yet I remain adamant that Litecoin is easily going to exceed $30 and probably $100 before the end of this year, unless somehow SegWit activation is defeated. At the moment SegWit signaling is at 70.8% for those blocks in the last 21 hours. We are very close.

Some myopic people haven't realized that Litecoin needs scaling because it will be receiving all the excess volume from Bitcoin that can't fit in Bitcoin's small blocks, and because the volume will increase exponentially with Lightning Networks enabling private fractional reserve banking and the banks will evangelize Litecoin ecoins to the masses. Litecoin either grabs this opportunity, else Ethereum will take this role with its coming Raiden clone of Lightning Networks. But Blockstream is not going to let that happen. Bobby Lee of BTCC is the brother of Charlie Lee the creator of Litecoin. BTCC will push SegWit activation over the 75% threshold with its GPU farm that is mining Ethereum, if need be.

Also myopic people don't realize that block size increases can't scale because due to the equation on orphan rate, orphan rates increases exponentially as block size increases. Exponential worsening is the antithesis of scaling for anyone who understands math and computer science. I also explained why Xthin is no solution to this dilemma.