Litecoin SegWit is Locked In - page 2.

LiftOff1969

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You had me at thanks...

Quote from: dinofelis on April 27, 2017, 01:53:49 AM

Quote from: kiklo on April 24, 2017, 06:10:29 AM

Welcome to financial slavery 2.0 the Lightening addition.
Satoshi is rolling over in his grave, the Banking Cartels will have destroyed everything he set out to do.

That said, bitcoin (and yes, also LTC) contained this in its initial design anyhow. This is why I claim that bitcoin's design wasn't set up to do what was claimed it would do. Whether that was clumsiness or on evil purpose, I leave in the middle (though I tend to think the former).

The questions what everyone has wondered for years is...... What was Bitcoins real sole purpose and evolution in Satoshi's eyes when he created it, the communities involvement upon release, then his departure + what the Core Developers think with their ideas.

Was it just another one of those online Internet Tokens/Virtual Currencies that came and went in the early 90's - 2000's but this time by one of the said failed projects collaborators ?

Things back then on the internet were ahead of their time before the mass adoption of broadband internet..... just saying.

Then compare the scenario to that of Charlie Lee and Litecoin with the eruption of Bitcoin and putting a real Name & Face to a Coin.

Satoshi..... Charlie.....

One is said to be a descendant of Asian Heritage & the other has been confirmed as to being from Asian Heritage..... Coincidence ? Cheesy

dinofelis

hero member

Activity: 770

Merit: 629

Quote from: kiklo on April 24, 2017, 06:10:29 AM

Welcome to financial slavery 2.0 the Lightening addition.
Satoshi is rolling over in his grave, the Banking Cartels will have destroyed everything he set out to do.

That said, bitcoin (and yes, also LTC) contained this in its initial design anyhow. This is why I claim that bitcoin's design wasn't set up to do what was claimed it would do. Whether that was clumsiness or on evil purpose, I leave in the middle (though I tend to think the former).

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: Red-Apple on April 26, 2017, 08:49:11 AM

Quote from: NoiseBoy on April 25, 2017, 11:51:39 PM

I know LTC's creator has stated that LTC is not intended to replace BTC, but I can't help but wonder, what point is there in doing anything with BTC anymore?

To rephrase, what does BTC do that LTC doesn't do better?

define better!

a faster block generation time? that has led to a much higher number of orphaned blocks, that not only means you have to wait for much longer for your transactions to be "fully confirmed" but also it means miners lose more block reward each day due to orphan rate.
this also means the blockchain size should technically be bigger and grow faster. and we are already seeing a lot of people bitch and moan about bitcoin blockchain size being big. now imagine if it was 4 times bigger than this.
and also in the end litecoin is still the same altcoins that has been copying code from bitcoin.
activation of SegWit is great because it fixes the malleability problem and also opens up for more features but the most important thing is testing it for bitcoin. and also obviously the short term pump to the moon and making a lot of profit.

Average BTC 3 Orphans per day , 30 minutes
Average LTC 2 Orphans per day , 5 minutes
https://chainz.cryptoid.info/ltc/#!extraction

Which kind of tells you BTC could have went to 5 minute blocks instead of lying and saying it was impossible for them.

LTC Currrent Blockchain : ~7.62 GB Born Oct 2011
BTC Current Blockchain : > 112 Gigabytes Born Jan 2009

Looks like BTC is the bloated one. Cheesy

Funny the malleability issue was so scary, that BTC Core did not hard fork immediately to fix it,
must be because it is not that big a deal until LN is involved.
Otherwise why introduce a soft fork that can take over a year before you even know if it will be activated or not. Tongue

FYI:
Time you have to wait before a transaction can be consider safe.
BTC 3 confirms , 30 minutes
LTC 6 confirms, 15 minutes

BTC really just sucks compared to LTC.

hankyulpark

member

Activity: 70

Merit: 10

https://boscoin.io

When this happen will be an excellent test to see if BTC can adopt the same change in its protocol. LTC is doing what an altcoin should do, to provide a different way to tackle a problem and, if BTC changes to start to do the same, the better! If not, it will only make LTC more attractive to investors, increasing its value.

XbladeX

legendary

Activity: 1302

Merit: 1002

Quote from: Red-Apple on April 26, 2017, 08:49:11 AM

*** and also obviously the short term pump to the moon and making a lot of profit.

Yes it at least justify some LTC pump and hype to replace BTC forever Cheesy

.

Same time 16s block time in ETH works and not many miners are upset becouse of that.
Blockcain size - come on who cares from speculators. Most crypto not left exchange that is why that blocksize doesn't matter with coins that are PnD in short therm.

Most coins are designed to be short term pump kings and that is why no one give a fuck to blockchain size ^^.
I want long BTC so blockchain size matters to me.

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: NoiseBoy on April 25, 2017, 11:51:39 PM

I know LTC's creator has stated that LTC is not intended to replace BTC, but I can't help but wonder, what point is there in doing anything with BTC anymore?

To rephrase, what does BTC do that LTC doesn't do better?

define better!

a faster block generation time? that has led to a much higher number of orphaned blocks, that not only means you have to wait for much longer for your transactions to be "fully confirmed" but also it means miners lose more block reward each day due to orphan rate.
this also means the blockchain size should technically be bigger and grow faster. and we are already seeing a lot of people bitch and moan about bitcoin blockchain size being big. now imagine if it was 4 times bigger than this.
and also in the end litecoin is still the same altcoins that has been copying code from bitcoin.
activation of SegWit is great because it fixes the malleability problem and also opens up for more features but the most important thing is testing it for bitcoin. and also obviously the short term pump to the moon and making a lot of profit.

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: kyle8916 on April 26, 2017, 03:27:37 AM

This post of yours will make you look stupid In a few more months from now.

I am 84 newbie , I will be happy to still be breathing in a few more months, no matter how I look.
Plus I am more than willing to let history judge my statements.

You however my dufus friend, you are looking stupid Right Now. Wink

Quote from: kyle8916 on January 26, 2017, 01:17:01 AM

My stop order incurred huge loss to me, triggered at 1310. 1 btc was sold at 1310 and the rest were sold at 1301. Why is there such a huge gap between 1310 and 1301? Then I panicked and blindly buy and sell using the app during the drop, resulting in another $15 loss per btc. Haizz,, I accept it as my loss,, but feel heartache when I think abt it. On a positive note, I haven't had any problems with regards to Fiat and btc withdrawals in quoine but the mobile trading app needs improvement as I cannot see the order book clearly and it processes market orders significantly slower than trading on the website.

kyle8916

newbie

Activity: 7

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Quote from: kiklo on April 26, 2017, 12:05:20 AM

No real reason to own BTC now, even if they activate LN, it's Low onchain capacity & high fee structure is a coin killer.

BTC is old and outdated and it's onchain capacity is still going to be in the toilet compared to every other coin.

LTC should assume the Throne as #1 coin on CoinMarketcap within a year or so.

LTC has become the GOLD , and BTC is just turning to RUST.

Cool

This post of yours will make you look stupid In a few more months from now.

kiklo

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Activity: 1092

Merit: 1000

Quote from: NoiseBoy on April 25, 2017, 11:51:39 PM

I know LTC's creator has stated that LTC is not intended to replace BTC, but I can't help but wonder, what point is there in doing anything with BTC anymore?

To rephrase, what does BTC do that LTC doesn't do better?

Once the Direct LTC to Fiat CoinBase Wallet is active,

LTC will be Faster, Cheaper fee structure, and have the same Merchant access as BTC and have room for 4X BTC Onchain Transactions Volume.

No real reason to own BTC now, even if they activate LN, it's Low onchain capacity & high fee structure is a coin killer.

BTC is old and outdated and it's onchain capacity is still going to be in the toilet compared to every other coin.

LTC should assume the Throne as #1 coin on CoinMarketcap within a year or so.

LTC has become the GOLD , and BTC is just turning to RUST.

Cool

NoiseBoy

sr. member

Activity: 266

Merit: 250

Sound. Fury. Signifying.

I know LTC's creator has stated that LTC is not intended to replace BTC, but I can't help but wonder, what point is there in doing anything with BTC anymore?

To rephrase, what does BTC do that LTC doesn't do better?

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: MontyK on April 24, 2017, 05:46:45 PM

"The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system"

So what! As long as 98% of LTC LN transactions allows people to purchase goods and services, it matters not a fig if it has a remote chance of being counterfeitable. Comparing it to the current fractional reserve system is extreme to put it mildly.

I guess you enjoy being a slave to a false fractional reserve system. Tongue

LN will not be better than the current system it will be worse.

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: andrei56 on April 24, 2017, 03:26:11 PM

Quote from: European Central Bank on April 21, 2017, 09:53:24 AM

They did publish and agreement but didn't publish a time scale.

They might drag it out for months under the guise of 'testing' so they can play with the market more.

I hope that does not happen, LTC will benefit greatly from approving segwit as fast as it is possible we don’t need more manipulation and political moves like the situation that we have in bitcoin and that is causing some users to lose faith in bitcoin and its future.

it seems like things didn't take that long to change!
the support is already above 98-99% and staying up there. and looking at this site: https://www.litecoinpool.org/pools i see all the blocks are signalling it.
apart from a couple:
P2Pool (9 GH/s)
LiteGuardian (9 GH/s)
the rest of the 4307 GH/s is signalling it Cheesy

MontyK

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Quote from: kiklo on April 24, 2017, 06:10:29 AM

Quote from: shyliar on April 23, 2017, 10:24:06 AM

Quote from: kiklo on April 23, 2017, 01:33:46 AM

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about, after it is setup BTC will have zero advantage over LTC in the merchants eyes. Cheaper fees and faster transactions with no capacity problems.

I don't disagree that the addition to coinbase is going to be benificial with the expanding growth of LTC merchant use. Other payment methods supporting litecoin such as Gocoin, Coinpayments, Alphacoins and Coinify provide some merchant support; but, definitely the exposure with Coinbase helps.

Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

If the payment processor provides a better conversion rate with LTC, because of the lower fees the customer may notice and choose LTC over BTC.

Good at least we can agree on that.

Did we not say the same thing :
I said: after it is setup BTC will have zero advantage over LTC in the merchants eyes.

You Said:
Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

The People Sending Crypto to buy or pay for stuff are the ones that will prefer LTC over BTC ,
and these people will become aware of the advantages of LTC over BTC in time.
BTC price is already so high many would rather hold it and sell it , than use it as a payment system.
BTC Priced itself out of the micro-payment markets and it is now pricing itself out as a payment system altogether for the poor & middle class.
Only the rich will use it, which is why they are pushing LN for the Poor to use it.
The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system,
really no difference from the current banking setup. Tongue

Welcome to financial slavery 2.0 the Lightening addition.
Satoshi is rolling over in his grave, the Banking Cartels will have destroyed everything he set out to do.

Cool

"The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system"

So what! As long as 98% of LTC LN transactions allows people to purchase goods and services, it matters not a fig if it has a remote chance of being counterfeitable. Comparing it to the current fractional reserve system is extreme to put it mildly.

shyliar

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Activity: 728

Merit: 500

Quote from: oaks05 on April 24, 2017, 03:29:07 PM

I was looking at coinmarketcap thought the price jumped a bunch than realized they pulled the asian markets from there charts which is smart was pulling down the prices.

Considering withdrawals have been disable since early February it's about time they sidelined the China exchanges when presenting current price. It will be interesting to see how the markets in China react when (if?) these restrictions get removed.

oaks05

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Activity: 770

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I was looking at coinmarketcap thought the price jumped a bunch than realized they pulled the asian markets from there charts which is smart was pulling down the prices.

andrei56

sr. member

Activity: 840

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Quote from: European Central Bank on April 21, 2017, 09:53:24 AM

They did publish and agreement but didn't publish a time scale.

They might drag it out for months under the guise of 'testing' so they can play with the market more.

I hope that does not happen, LTC will benefit greatly from approving segwit as fast as it is possible we don’t need more manipulation and political moves like the situation that we have in bitcoin and that is causing some users to lose faith in bitcoin and its future.

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: shyliar on April 23, 2017, 10:24:06 AM

Quote from: kiklo on April 23, 2017, 01:33:46 AM

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about, after it is setup BTC will have zero advantage over LTC in the merchants eyes. Cheaper fees and faster transactions with no capacity problems.

I don't disagree that the addition to coinbase is going to be benificial with the expanding growth of LTC merchant use. Other payment methods supporting litecoin such as Gocoin, Coinpayments, Alphacoins and Coinify provide some merchant support; but, definitely the exposure with Coinbase helps.

Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

If the payment processor provides a better conversion rate with LTC, because of the lower fees the customer may notice and choose LTC over BTC.

Good at least we can agree on that.

Did we not say the same thing :
I said: after it is setup BTC will have zero advantage over LTC in the merchants eyes.

You Said:
Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy.
Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

The People Sending Crypto to buy or pay for stuff are the ones that will prefer LTC over BTC ,
and these people will become aware of the advantages of LTC over BTC in time.
BTC price is already so high many would rather hold it and sell it , than use it as a payment system.
BTC Priced itself out of the micro-payment markets and it is now pricing itself out as a payment system altogether for the poor & middle class.
Only the rich will use it, which is why they are pushing LN for the Poor to use it.
The Rich use the Onchain non-counterfeit-able system while the poor are left using LN Offchain Counterfeit-able fractional reserve system,
really no difference from the current banking setup. Tongue

Welcome to financial slavery 2.0 the Lightening addition.
Satoshi is rolling over in his grave, the Banking Cartels will have destroyed everything he set out to do.

Cool

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: Red-Apple on April 23, 2017, 07:40:46 AM

Quote from: kiklo on April 22, 2017, 07:05:07 AM

Your FUD spam is the reason why self moderated threads exist

Fud or Logic , shame you can't tell the difference between the two. Wink

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: MontyK on April 23, 2017, 04:59:24 AM

Segwit is more about initiating Lightening and a slew of other new things in the pipeline (It's less about the block size imo)

Oh yeah, and it'll wipe out the ASICBOOST advantage.

No argument there, Seqwit is all about making LN trustless so the Bankers can take over crypto.

Litecoin Scrypt ASICS does not have ASICBOOST, only BTC SHA256 ASICS.

Cool

shyliar

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Activity: 728

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Quote from: kiklo on April 23, 2017, 01:33:46 AM

If you bothered to look at the Markets,
you would see the US & Europe are the ones Pushing up the Price and LTC is running a few dollars cheaper on EVERY Chinese YUAN pairing.
http://coinmarketcap.com/currencies/litecoin/#markets

Can't really compare Chinese markets to the west right now until coin withdrawal is enabled again. You provided a link to the litecoin markets as your proof; but, looking at bitcoin markets you can see the same lower prices for bitcoin as well.

http://coinmarketcap.com/currencies/bitcoin/#markets

Until the exchanges in China receive regulatory approval (and no one knows when this might be) the discrepancy between exchanges will continue to exist.

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals

Likely, LTC and BTC prices would both be higher if it wasn't for the concerns of the Chinese government.

You also state:

Quote from: kiklo on April 23, 2017, 01:33:46 AM

The Direct Coinbase LTC/US$ wallet is all the US / Europe merchants care about, after it is setup BTC will have zero advantage over LTC in the merchants eyes. Cheaper fees and faster transactions with no capacity problems.

I don't disagree that the addition to coinbase is going to be benificial with the expanding growth of LTC merchant use. Other payment methods supporting litecoin such as Gocoin, Coinpayments, Alphacoins and Coinify provide some merchant support; but, definitely the exposure with Coinbase helps.

Merchants that utilize payment methods with companies like coinbase generally have no knowledge of faster transaction times or capacity of a cryptocurrancy. Why would they? These merchants receive their payments in their local currency, the payment processor receives the coins not the merchant.

If the payment processor provides a better conversion rate with LTC, because of the lower fees the customer may notice and choose LTC over BTC.

Topic: Litecoin SegWit is Locked In - page 2. (Read 8689 times)