Is Segwit for LTC really necessary? Why? - page 2.

shinratensei_

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Quote from: lurker10 on April 11, 2017, 04:21:01 AM

Quote from: shinratensei_ on April 10, 2017, 09:06:47 PM

Quote from: lurker10 on April 10, 2017, 08:07:30 AM

Quote from: European Central Bank on April 10, 2017, 07:53:52 AM

everyone's thinking only in terms of segwit = scaling. that's cool but not the main reason for it. it allows tons of new possibilities. if segwit is activated on there it's also gonna attract an influx of bitcoin developers. why ignore the only game in town?

Examples?

Lightning network? With the SegWit and there will lot of the possibilities for activating the off-chain transaction for bitcoin. SegWit is a way for a lot of the possibilities to get more solution and improvements.
Like European's said, the main reason of segwit to resolve the malleability transaction of bitcoin. Which satoshi hadn't known to resolve it. Scaling is just a side advantage from the segwit itself.

LN is offchain scaling, the question was re possibilities other than scaling. What else is SW good for?

Opening the door for the unlinkable payment such as TumbleBit and maximizing the security measures for the hardware wallet. It looks SegWit will be a door for the further development of bitcoin off-chain transaction skill. in the future.
That's based on my knowledge.

ddosamerica7

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It's probably better if Segwit is activated. The amount of people using Litecoin is going down all the time. Will soon remain as another dumped altcoin. Sad

bbc.reporter

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Quote from: dwgscale11 on April 11, 2017, 11:28:27 AM

Quote from: kelsey on April 11, 2017, 11:04:22 AM

Quote from: lurker10 on April 11, 2017, 10:46:21 AM

You say Segwit must be tested on Litecoin, is it not secure to implement directly on Bitcoin?
If LTC is only for testing Segwit, do you see no value in LTC per se?

well last time i looked testnet bitcoins had no monetary value so yes most definitively if this is all about litecoin being merely a testbed for segwit on bitcoin then yes litecoin is a worthless token.

however while that maybe the line coblee and co are feeding you thats not the game thats being played out Lips sealed

Litecoin is a better testnet BECAUSE it has value.... And that is not the only use for Segwit on Litecoin. For more information and basics of Segwit please see https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b

I like your thinking. It is not only a better testnet because it has real value, it is a better testnet because we can see segwit unleashed in a real production setting and not some made up theories like iamnotback has been copy and pasting. We do not know if half of what he ways will happen.

dwgscale11

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Quote from: iamnotback on April 11, 2017, 03:43:52 PM

Quote from: alyssa85 on April 11, 2017, 03:33:22 PM

40% increase!? That's a big call. I think there might be a pump to coincide with the news that Segwit is activated on litecoin, cause that's what pumpers so (make sure their pump coincides with news) - but it will be short-lived, as people simply won't use litecoin for anything.

I said "if it doesn't break below the uptrend line". It isn't a call (prediction). It is an analysis. Although I do think it is likely to not break significantly below the upthrend line, yet this is still not a 100% prediction.

All my money is invested in LTC right now.

What happens when Segwit on LTC is activated by UASF though?

reb0rn21

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Quote from: lionheart78 on April 11, 2017, 06:32:58 PM

I think it is necessary for LTC to have Segwit first before BTC. This way we can see how Segwit works without compromising the entire Bitcoin community. It is also a good way if ever it is successful to test several updates that comes with segwit implementation.

100% Agree, that is the reason LTC is now over 9$ a lot of bitcoiners now look at litecoin as next valid and future good alternative which can help bitcoin (as most alt coins just want to take bitcoin place) litecoin never was like that

also on the positive side they will see in real how UASF gona work, and if needed for bitcoin in future would be very valuable

so at the end I hope bitcoiners help us and not see litecoin as some evil scam shit coin as they see all or most alts

lionheart78

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I think it is necessary for LTC to have Segwit first before BTC. This way we can see how Segwit works without compromising the entire Bitcoin community. It is also a good way if ever it is successful to test several updates that comes with segwit implementation.

reb0rn21

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Quote from: lurker10 on April 11, 2017, 01:50:57 PM

Quote from: reb0rn21 on April 11, 2017, 01:10:26 PM

What you expect from Jihan or roger ver shills.........

segwit is just one step, nothing wrong with block increase but its the wrong way if we can do that smarter as segwit open more future possibilities, also increasing is bad for decentralization and security die the block size and time needed to go over all nodes

ppl and market are eager to test segwit, and some evil ppl think that will destroy their greedy plan for bitcoin fee to be 50$ per transfer, and they bet it WILL!
no one will stand and use coin that is centralized by chines mining mafia!

LOL at how whoever disagrees with the party line is automatically a Jihan or Roger Ver shill. Where do I get my pay? Cheesy

You are brainwashed by Blockstream propaganda.

You did not write ANY REAL EVIDENCE to support you claim...

You are just trolling me, and jihan/roger troll looks like that

And i don`t thing Blockstream is god as you shills look at Jihan, they were slow with segwit and no faster solution in 2016, we today would not be here if they had been more ope to market need!
But I am no dev and I have no right to criticize anyone as I am doing nothing!

blade87

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None of these other shitcoins that are pumping and dumping because of SegWit matter, because they truly will never be used. But LTC is being added to Coinbase. That gives us westerners (and merchants) our biggest direct outlet to the dollar. Not Vertcoin, not DigiByte, or whatever other shitcoin may be trying to add SegWit as a pump feature. After LTC is added, I'll be keeping a close eye on LTC transactions/day.

Anyway, volume has been decreasing in the down channel so that trend is running out of steam. If it breaks out of it, I don't expect it to do much. Not as long as we are sitting at 68-70% activation. It's a tug of war between being completely turned off by the SegWit/F2pool/Jihan manipulation, versus potentially getting into LTC before it sees the biggest update and push for adoption that it has ever seen in its long existence. But everyone knows this is a huge opportunity, especially since BTC is backlogged and something needs to give somewhere. Unless there is a complete block of SegWit and Coinbase decides not at add LTC (which would then label them as blatant market manipulators), I don't think we will ever see it at $4 again.

iamnotback

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Quote from: alyssa85 on April 11, 2017, 03:33:22 PM

40% increase!? That's a big call. I think there might be a pump to coincide with the news that Segwit is activated on litecoin, cause that's what pumpers so (make sure their pump coincides with news) - but it will be short-lived, as people simply won't use litecoin for anything.

I said "if it doesn't break below the uptrend line". It isn't a call (prediction). It is an analysis. Although I do think it is likely to not break significantly below the upthrend line, yet this is still not a 100% prediction.

All my money is invested in LTC right now.

alyssa85

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Quote from: iamnotback on April 11, 2017, 01:29:13 PM

BTC has been rising on declining volume. That indicates to me that this rise will not make it to a new ATH before it falters. I am sticking with my theory that BTC is range bound until Litecoin gets SegWit.

I think we are going to see another leg up on LTC as the SegWit signaling has climbed back up to 68%.

This pullback has brought us back to the uptrend line, which I expected we would come back to test one more time and especially given BTC is up today.

Given the steepness of that uptrend line (on the right chart quoted below) we either have to fail and crash or start another leg up soon. Failing and crashing seems to not be very likely. So I say load up now on the LTC you want for the next run up. If that uptrend line holds, we have to be back above 0.009 within 6 days 0.011 within 2 weeks. So that is a minimum 40% increase in your BTC within 2 weeks if the uptrend line holds (which it has thus far throughout this crazy volatile rise).

Also today we broke out above that downward blue channel in the left chart quoted below!

Thoughts?

Quote from: iamnotback on April 10, 2017, 02:32:12 PM

Quote from: coinling on April 10, 2017, 08:09:24 AM

Not really:
We are rather in the blue channel right now :

So in terms of the right chart, we are still within an upward channel, barely.

Insane volatility due to the hashrate/signaling manipulation.

40% increase!? That's a big call. I think there might be a pump to coincide with the news that Segwit is activated on litecoin, cause that's what pumpers so (make sure their pump coincides with news) - but it will be short-lived, as people simply won't use litecoin for anything.

lurker10

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Quote from: reb0rn21 on April 11, 2017, 01:10:26 PM

What you expect from Jihan or roger ver shills.........

segwit is just one step, nothing wrong with block increase but its the wrong way if we can do that smarter as segwit open more future possibilities, also increasing is bad for decentralization and security die the block size and time needed to go over all nodes

ppl and market are eager to test segwit, and some evil ppl think that will destroy their greedy plan for bitcoin fee to be 50$ per transfer, and they bet it WILL!
no one will stand and use coin that is centralized by chines mining mafia!

LOL at how whoever disagrees with the party line is automatically a Jihan or Roger Ver shill. Where do I get my pay? Cheesy

You are brainwashed by Blockstream propaganda.

iamnotback

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BTC has been rising on declining volume. That indicates to me that this rise will not make it to a new ATH before it falters. I am sticking with my theory that BTC is range bound until Litecoin gets SegWit.

I think we are going to see another leg up on LTC as the SegWit signaling has climbed back up to 68%.

This pullback has brought us back to the uptrend line, which I expected we would come back to test one more time and especially given BTC is up today.

Given the steepness of that uptrend line (on the right chart quoted below) we either have to fail and crash or start another leg up soon. Failing and crashing seems to not be very likely. So I say load up now on the LTC you want for the next run up. If that uptrend line holds, we have to be back above 0.009 within 6 days 0.011 within 2 weeks. So that is a minimum 40% increase in your BTC within 2 weeks if the uptrend line holds (which it has thus far throughout this crazy volatile rise).

Also today we broke out above that downward blue channel in the left chart quoted below!

Thoughts?

Quote from: iamnotback on April 10, 2017, 02:32:12 PM

Quote from: coinling on April 10, 2017, 08:09:24 AM

Not really:
We are rather in the blue channel right now :

So in terms of the right chart, we are still within an upward channel, barely.

Insane volatility due to the hashrate/signaling manipulation.

reb0rn21

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What you expect from Jihan or roger ver shills.........

segwit is just one step, nothing wrong with block increase but its the wrong way if we can do that smarter as segwit open more future possibilities, also increasing is bad for decentralization and security die the block size and time needed to go over all nodes

ppl and market are eager to test segwit, and some evil ppl think that will destroy their greedy plan for bitcoin fee to be 50$ per transfer, and they bet it WILL!
no one will stand and use coin that is centralized by chines mining mafia!

dwgscale11

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Activity: 335

Merit: 250

Quote from: lurker10 on April 11, 2017, 12:10:24 PM

Quote from: Ayers on April 11, 2017, 11:19:31 AM

Quote from: lurker10 on April 11, 2017, 10:08:57 AM

Quote from: reb0rn21 on April 11, 2017, 08:44:53 AM

Quote from: vanarebane on April 11, 2017, 05:10:25 AM

Unnecessary because Litecoin's network is not crowd like Bitcoin's, this is only for pump, not the real use. If bitcoin signals SW, btc will be pumped too.

Please learn what segwit is, its not about block scaling why litecoin need it
As market want to test SEGWIT as solution for bitcoin problem, litecoin can be used for that test!!

What problem?

problems that are about block size limit and scaling, bitcoin can't scale correctly with 1MB block, with segwit you have effectively 2MB block or more, and make bitcoin scale more, but not like a final solution, just a first step that in conjuction with lightining network will make bitcoin fully scalable in the future

Segwit is an overengineered solution for a simple problem.
BU+Classic+8M block signalling is over 50% already, Segwit signalling is 30% on the best day.
Soon Bitcoin will scale with bigger blocks, no overcomplicated Segwit is required for this.
What else does Segwit "solve"? Nothing.

You really dont know the reason for Segwit.... https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b
Open up them eyes of yours...

SvenBomvolen

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As I know LTC is the most popular altcoin among others and it can make good competition to bitcoin one day. I think LTC could attract much more users and the interest in general in the case of Segwit.

rickadone

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Quote from: bbc.reporter on April 07, 2017, 11:12:32 PM

I cannot think of a practical reason why Segwit needs to be activated in LTC if the coin itself does not attract enough users to make it necessary. What if it becomes activated but nobody uses it? What good is it if it is not really that necessary?

Not correlated. It might not be useful for litecoin , a cryptocurrency that has low volume and mostly exchanged to btc anyway. It is however could be a very needed thing for btc, which is used by a lot more people, have a much higher volume and used to do what fiat currency does. You might be right, but you might be totally totally wrong.

lurker10

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Quote from: Ayers on April 11, 2017, 11:19:31 AM

Quote from: lurker10 on April 11, 2017, 10:08:57 AM

Quote from: reb0rn21 on April 11, 2017, 08:44:53 AM

Quote from: vanarebane on April 11, 2017, 05:10:25 AM

Unnecessary because Litecoin's network is not crowd like Bitcoin's, this is only for pump, not the real use. If bitcoin signals SW, btc will be pumped too.

Please learn what segwit is, its not about block scaling why litecoin need it
As market want to test SEGWIT as solution for bitcoin problem, litecoin can be used for that test!!

What problem?

problems that are about block size limit and scaling, bitcoin can't scale correctly with 1MB block, with segwit you have effectively 2MB block or more, and make bitcoin scale more, but not like a final solution, just a first step that in conjuction with lightining network will make bitcoin fully scalable in the future

Segwit is an overengineered solution for a simple problem.
BU+Classic+8M block signalling is over 50% already, Segwit signalling is 30% on the best day.
Soon Bitcoin will scale with bigger blocks, no overcomplicated Segwit is required for this.
What else does Segwit "solve"? Nothing.

dwgscale11

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Quote from: kelsey on April 11, 2017, 11:04:22 AM

Quote from: lurker10 on April 11, 2017, 10:46:21 AM

You say Segwit must be tested on Litecoin, is it not secure to implement directly on Bitcoin?
If LTC is only for testing Segwit, do you see no value in LTC per se?

well last time i looked testnet bitcoins had no monetary value so yes most definitively if this is all about litecoin being merely a testbed for segwit on bitcoin then yes litecoin is a worthless token.

however while that maybe the line coblee and co are feeding you thats not the game thats being played out Lips sealed

Litecoin is a better testnet BECAUSE it has value.... And that is not the only use for Segwit on Litecoin. For more information and basics of Segwit please see https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b

Ayers

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Quote from: lurker10 on April 11, 2017, 10:08:57 AM

Quote from: reb0rn21 on April 11, 2017, 08:44:53 AM

Quote from: vanarebane on April 11, 2017, 05:10:25 AM

Unnecessary because Litecoin's network is not crowd like Bitcoin's, this is only for pump, not the real use. If bitcoin signals SW, btc will be pumped too.

Please learn what segwit is, its not about block scaling why litecoin need it
As market want to test SEGWIT as solution for bitcoin problem, litecoin can be used for that test!!

What problem?

problems that are about block size limit and scaling, bitcoin can't scale correctly with 1MB block, with segwit you have effectively 2MB block or more, and make bitcoin scale more, but not like a final solution, just a first step that in conjuction with lightining network will make bitcoin fully scalable in the future

kelsey

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Quote from: lurker10 on April 11, 2017, 10:46:21 AM

You say Segwit must be tested on Litecoin, is it not secure to implement directly on Bitcoin?
If LTC is only for testing Segwit, do you see no value in LTC per se?

well last time i looked testnet bitcoins had no monetary value so yes most definitively if this is all about litecoin being merely a testbed for segwit on bitcoin then yes litecoin is a worthless token.

however while that maybe the line coblee and co are feeding you thats not the game thats being played out Lips sealed

Topic: Is Segwit for LTC really necessary? Why? - page 2. (Read 4740 times)