Topic: Is Segwit for LTC really necessary? Why? - page 4. (Read 4740 times)

Litecoin has one and only one chance to ever get SegWit activated now while LTC is extremely undervalued (because this means miners can form a 75% consensus on rising the price, which won't be otherwise be possible due to the crab bucket game theory that John Nash designed into Satoshi's PoW). That window of opportunity will close and due the crab bucket mentality that Satoshi designed into PoW and never be possible again in the future.

Without off chain LN, there is no other way to scale Satoshi's PoW. I've refuted all the other technological BS such as larger blocks and Xthin.

Bitcoin will NEVER get scaling.

Litecoin MUST get scaling NOW. And it will. And it will receive all the transaction rate scaling that Bitcoin will NEVER be able to do.

Please don't make me explain this again.

---

FYI, I sold some STEEM and bought more LTC on this dip.

I will continue to buy LTC with every thing I can find. I have 1 BTC in another account which I will probably transfer to Poloniex so I can buy more LTC.

The volume on LTC is building. LTC has far too high of volume lately to stay so undervalued. The pressure is building. Also, fiat is coming into LTC via Coinbase, so that in my mind is enough to push LTC's price up regardless of SegWit activation.


My thesis of both the rise of price outpacing hashrate rise due to constrained supply of ASICs, thus driving miners to increasingly signal SegWit, plus my thesis that "It Is Just Time" and that Bitcoin can't rise (willl remain range bound < $1200) until Litecoin catches up to $30+, seems to be holding as truth.The huge volume on LTC tells me LTC has become the #1 altcoin, the pressure is building for another upward explosion in price, and it extremely undervalued. LTC is starting to average more volume than ETC.

---

It is impossible for it to reach 95%.

Jihan Wu will never allow Blockstream to exist on Bitcoin. And I already explained he has checkmated Blockstream with his Bitmain covert asciiboost hardware spread out all over in the wild, which he can activate at will without even implicating himself nor Bitmain. Perhaps you missed my elucidation on that.


I would, if I had a house. Seriously. I am selling everything I can find to buy more LTC.



Within the "current activation period", it has been steady at 64-65% since my post which quoted.


Jihan Wu is playing along the game. I never said he wasn't blocking SegWit on Litecoin. But as I wrote, there is 20% of hashrate that was temporarily pulled so the signaling reduced from ~70% to ~62% but since has climbed back to ~64% because more and more other miners are switching to signal SegWit because they are starting to understand the price dip is due to signaling.

As the base of signaling builds back to 69 - 70% again, that 20% hashrate can return and push it over 75%. That might BTCC who is moving that 20% hashrate to and from Ethereum (their GPUs mining farm).

Since BW has stated it will soon signal for SegWit, perhaps some of that hashrate that Jihan had there has been moved to Antpool. Jihan may have been using proxies to hide or influence the decision of other pools. Any way, as I stated before that the hashrate game is too obfuscated for me to determine definitively, but the trend of LTC is now undeniable.

All roads to scaling lead to LTC.

Get on the train or be left behind.

But all you said were copy and pasting all your theories and arguments of what you think. Those cannot be proven until it is done in practice. How is that debunking the question if Segwit is really necessary?

The point of the question is if it is necessary now with the current usage of LTC. It will be an improvement I am sure. But is it necessary from the point of view of a user?

You first have to ask yourself, how is it being used now? Why do we need Segwit now to open the roads to a Lightning Network?

you can start by reading the bitcoin core explanation about Segregated Witness. https://bitcoincore.org/en/2016/01/26/segwit-benefits/
one may argue that it is a biased source to read but it is at least going to give you the idea of what SegWit is and what the benefits are.

there was also something from Charlie Lee (litecoin developer) about why of it but i can not find it.

edit: i found it
i believe this can answer your questions: https://litecointalk.io/t/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-by-charlie-lee/600

Correct. You can't think.

Watch and learn.

Next time you'll read what I wrote.

I already debunked this nonsense thread of yours.

You got a point actually. I think the big reason is that LiteCoin wants to be a genia pig or an experimentation for SegWit so that if SegWit can be really successful then it can leverage the same success for its own advantage. People behind LTC must be thinking that they have nothing to lose and a lot to gain in implementing the SegWit without waiting for its implementation in the mother Bitcoin. Hope this can boost further the value of LTC.

Some claim that Bitcoin will never get Segregated Witness and since Litecoin has higher possibilities to get it, they say people will move there for everyday transactions.

I think the price of LTC will go up again when/if it gets to 75%, but I fail to see how Bitcoin will "never" get Segregated Witness when all that's needed is UASF, and UASF will gain more acceptance now after the ASICBOOST debacle.

It isn't necessary for Litcoin. They're just doing it because Shiny New Object thing might make the speculators pump Litecoin (it's been feeling left out).

no i'm with you i can't think they need segwit, when they have the block time of 2.5 minutes, which everyone know that mean you have 4x the block size of bitcoin, but litecoin have no where near the same amount of tyransaction per day let alone 4x lol, are they , maybe pushing it to help bitcoin do the same decision? could be, there are plenty of manipulators here from all sides

Segwit is needed for Lightening network to work. Without it LN is crap.

The stupid thing is LTC is not hurting at all for transaction capacity and adding an offchain service to steal transaction fees from the onchain side is beyond stupid.  

It's true purpose is to trick the BTC miners into supporting segwit so LN will work on BTC.
If LN is active on BTC, no one will use LTC at all , since LN offchain transactions will seem faster.
Example Groestlcoin activated segwit months ago, and LN has ignored them completly, LN only cares about BTC,
LN will let the rest of you rot once they have BTC.
LN is how the Banking cartels are going to take over crypto , and bring their fractional reserve shenanigans to the crypto world.


 

Segwit delayed from owner of f2pool.

segwit used for LTC is a way to organize and implement technology cryptocurency, LTC is an alternative coin to the transaction, many websites that have received LTC and it has not been included in some investments. LTC has its own enthusiasts and spreading the love, and the first coin algo scrypt apply, so that LTC has a history of its own in the market cryptocurency.

It is best and rather be safe taking care of everything now than sorry later.

Segwit for LTC is required to make it grow further and reach bigger and better users. Right now a strong debate is going on bitcoin after a long time growth. If the same is solved earlier success is all made easier

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?