Topic: Litecoin segwit activation. What happened? - page 2. (Read 7090 times)

Whether you know it or not you stated an OUTRIGHT LIE.
This is a LIE =>LN can be activated without segwit

A LN that is TRUSTLESS, which is what they are Promising , CAN NOT BE ACTIVATED WITHOUT SEGWIT!!


OBSERVE the THUNDER NETWORK (LN Clone) at least they ADMIT the TRUTH.

Thunder Network (At least they admit they need segwit.)  
https://blog.blockchain.com/2016/05/16/announcing-the-thunder-network-alpha-release/

Save your Wager and give it to the LTC miners you are putting out of business by pushing segwit.
They are going to need it.

Because you did not answer the question,
how are they going to make money when all of the transactions are on LN?

 

As I explained above the concern about fees comes from the Lightning Network not Segwit. The LN can be activated without segwit so not sure why you think it's important to segwit signalling. Also your question why miners don't need to fear the LN was also answered. Please feel free to read and respond.

Maybe you can explain why you think the pennies LTC miners earn on fees should encourage them to abandon the potential to scale and the resulting increase in value if adoption occurs. You might also explain why if adoption fails the LN network is even a threat since all the providers will go bankrupt.

Kiklo, I'm not a segwit evangelist but I think you have to put it into context as a natural evolution of blickchain technology with specific focus on widespread global adoption. Segwit is not the holy grail, but it has its utility and LTC stepping up to the forefront is good for crypto. If this can't be seen then you're politically compromised. If your an opponent and it doesn't better serve crypto, then it will have empirically shown itself to not do so, and the next trial of technology will move forward. Also, the mining rewards will be relative. If BTC continues to grow, aside from  lock rewards, tx fees may go up an order of magnitude due to traffic and value against the USD, so I think the argument of miner fees being compromised is farfield.

Also, Charlie stated that segwit maybe activated regardless of 75% support, in any regard I've got 50LTC TO WAGER IF YOUR UP FOR IT.

Question for LTC miners

If 75% of the LTC miners are dumb enough to activate segwit.

Once LN has Offchain LTC , that is faster & cheaper than your Onchain LTC,

Why would anyone ever bother to use your Onchain LTC?

I mention this , because when no one uses your Onchain LTC and the Block rewards are dimished, and LN is raking in all of the transaction fees,
How do you expect to make enough money to keep being an LTC miner?

The above questions is what all of these segwit fanatics completely ignore.

There is a reason segwit can't get higher than 30% on the BTC network,
their miners know LN is a hostile takeover of their coin , so they refuse segwit.

 

You have a selective memory...
Crypto was always about greed and scams...
Let's see 2013... Gox, MCXNow, Mintpal, Cryptsy, ASIC scammers, Silk Road hitmen...

The "good old days" for Spoetnik.

You know it is true,

Retards like you can amuse themselves. 


 

Are you just a complete dumbass,

All he has to do is post my previous post with his name and the wager is on.
Here=>https://bitcointalksearch.org/topic/m.17859335

You stupid chickenshit jackass.

 

FYI:
Why don't you post enough to become a full member so your dumbass can give me an free LTC also.
Their are 3 Slots open for Suckers.

23.4% now. Looks like more miners going online in the pool LYSjBteSBU as we speak.

Litecoin miners have no reason to be concerned about Segwit it's a great improvement. Some folks like to bring up the Lightning Network (which is coming with or without segwit) as a source of concern for miners because it will change the fee structure. This type of thinking assumes that businesses building the LN can survive on these extremely low fees without massive adoption of cryptocurrancy.

Businesses are being built on the concept of the lightning network. It's the lightning network that potentially has some miners concerned when it comes to fees, not segwit. If usage of litecoin does not increase significantly these lightning network businesses will simply go bankrupt (because fees are so low). These businesses are being built on the assumption of adoption and millions of transactions per day. If adoption fails the LN serves no real purpose.

If the LN businesses actually do make money it will be because of large scale usage. That means adoption has happened. Blocks will be more valuable than they are now. Miners make more money as a result. Instead of the pennies that miners currently earn on fees they will earn dollars on the increased value of these blocks.

Some folks will point out that more than 30 years from now that this might create a problem for miners. As if it's reasonable to assume that a miner will give up increasing current income by a large factor now because of what happens 30 years from now. Frankly it's likely some of these miners won't even be alive then.

It all comes down to believing in the potential of cryptocurrency. For miners if adoption happens they win now, If adoption fails the LN is not required and it's mining as usual.

We are currently at 22.6% of the network (113 out of the last 500 blocks) signalling segwit.

Stick to ZEIT Kiklo lmaoooooooooo!!!
ZEIT HAHAHAHAHA

@losh11

Ok,

Explain why anyone will use LTC onchain, when it will be faster & cheaper to use it on LN.
How are the Miners going to stay in business as the Block rewards diminish and all of the fees are being consumed by LN.

How is that so called innovation going to help the current LTC miners feed their families?

Answer those questions!

or

Just be honest and admit it is a way to take over LTC by making mining completely unprofitable, unless you are LN.

 


FYI:
Segwit has already failed on BTC , it will never reach 95% needed for activation.
Segwit on Bitcoin has Failed , BTC Core has Lost , The Miners have Won
https://bitcointalksearch.org/topic/segwit-on-bitcoin-has-failed-btc-core-has-lost-the-miners-have-won-1788448

Y'all have been spreading misinformation. Why are we, the Litecoin Dev team, adding SegWit?
We want Lightning Networks, Confidential transactions and other innovations.
SegWit allows us to implement these new innovations in a much more simpler manner.

Is it a scaling solution? No.
Are we trying to scale? No, absolutely not. We are nowhere near the point where Litecoin needs to increase transaction capacity.
Does that mean we shouldn't add SegWit?

No. The 'innovation' that SW allows severely outweighs this.

For one, I am looking forward to atomic swapping via lightning networks, where you can seamlessly convert Litecoin to Bitcoin.
This would pave way for cryptocurrencies to be used interchangeably, and simplify a lot of the UX.

@Dwgscale11  &  @John Titor

Maybe you two Gay Birds should go be alone together, no one wants to watch you make out.
Keep your affections private.




 

No you Newbie Dumbass,
you are too stupid to do it correctly .

Like so.

 

I only wish ignoring made it so I didn't have to see his name at all, plus I still have to see his mentally challenged drivel in all the replies.    Am I doing it right?

Ignore him

If it meant you would stop clogging the forum with your inane garbage, I'd give you 10 ltc right now

What makes you think I trust the escrow agent,
I trust a contract that I can sue someone with ,
notice no one has accepted even a 1 LTC wager, so their faith in segwit activation for LTC is not as great as they made out.