Topic: Litecoin has potential. Beyond $50? - page 2. (Read 9345 times)

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.

that is really amazing 

IamnotBack for you https://bitcoinmagazine.com/articles/mining-manufacturer-blocking-segwit-benefit-asicboost/ I think you will find that article really interesting.

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!


Thus perhaps we can expect that BTCC won't throw its GPUs at LTC mining until the next block retargeting! Important find.

The next block retargeting begins in ~30 hours, and the following confirms the two week activation period:


Since a retarget period is roughly 3.5 days, that means the prior 3.5 day retargeting period did not start with ~69% signaling.

So I conclude that we might see fireworks ~30 hours from now.

I think with the current deputes with BTC it will give LTC the opportunity to catch up pricewise. If Segwit is activated before BTC and Coinbase adds LTC, I think a x5 is easily achieved this year. Could even be within months if Segwit and Coinbase are activated soon!

this would be a good progress for ltc and the price is really rallying up right now, few hours ago its only .0089 btc now its already touched .01btc and still showing strong rise up, those who's playing with it already partying for sure, its not too late to place an entry and hold for a long term.

Plus lets not forget if Bitcoin does split BU and BTC bitmain well have double coin on both blocks before fork. They can just dump BTC they are holding and destroy the market while still holding BU hence making it the major Bitcoin (clone) so to speak.

BTW not sure if you read my late last night post "iam not back"where you convinced me to buy Litecoin with your Logical posts. Just want to thank you bought 80 Litecoin and decided against selling a lot more and more that i am accumulating from mining. So thank you and keep up the Good work!!!

Once SegWit is activated with 75% of the hashrate, it is very unlikely he could muster enough hashrate to revert it. And over time it will become increasingly unlikely.

Litecoin will get SegWit.

Couldn't bitmain release new ascis in order to control the script market as they have aha-256

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:

https://twitter.com/brian_armstrong/status/849792524487086080

coinbase to add easy fiat buys for litecoin.

they're also one of the major merchant processors. what's the betting it might be rolled out for that too?

What makes you so sure? What is the required percentage to have segwit or BU activate as main chain on BTC?

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.

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.

Litecoin adaption/transactions might increase if it offers a transaction cost/time advantage over bitcoin.
If you are a vendor you might easily offer LTC payments with cheaper prices than BTC. The integration should be easy.

Litecoin might become the everyday-payment method, whereas Bitcoin remains the old value store.

A price of >0.015BTC seems perfectly reasonable.

where else will you be able to build the stuff you want on a respected platform? litecoin will be the only game in town for some very interesting ideas.

If you don't understand this, then you need to read all my writings and follow all my links. I don't have time to re-explain it all again.

http://reddit.com/r/litecoin/comments/631ffe/pools_that_block_litecoin_development/

Segregated Witness is not just about "increasing the number of transactions". and actually i don't think litecoin even needs that part that much.
instead it is mostly about solving a couple of things such as malleability problem. it is best if you read it here than i explain it: https://bitcoincore.org/en/2016/01/26/segwit-benefits/