LTC as the gateway coin for fast and cheap BTC transactions?

deisik

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Quote from: BillyBobZorton on May 08, 2017, 05:13:24 PM

Quote from: deisik on May 08, 2017, 02:07:05 PM

Quote from: BillyBobZorton on May 08, 2017, 01:06:32 PM

BTC? nope

Well, so when are we to expect the Bitcoin price to go down finally?

I don't know about Litecoin, but personally, I'm waiting for Bitcoin correction. Obviously, only to buy back what I sold at recent highs. So, according to your logic, we should necessarily see Bitcoin price if not crash, then at least decline massively (due to people dropping bitcoins like hot potatoes and going full throttle into Litecoin). But this is nowhere to be seen, it looks more like Bitcoin is consolidating right now to jump at new highs in the nearest future. I guess you should try to coherently explain this conundrum or paradox

The thing is, people don't necessarily need to drop their BTC for LTC. Now that LTC is in Coinbase which is what most people use to buy coins, people can buy it for LTC. Also there's billions in other coins and LTC is a good coin to buy and hold

In your previous post you were harsher toward Bitcoin

Now you come to say that everything is okay with Bitcoin as well. It smells fishy. Nevertheless, I'm curious what makes you think that Coinbase "is what most people use to buy coins". As I heard, the trading volumes there are miserable so that wallet can't possibly be the place where most people buy their coins. And they are late to the party anyway. LTC has been around for years, and they only now decided to accept it. I don't think that this wallet will have any significance (in respect to LTC, at least), the ship has sailed already

BillyBobZorton

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Quote from: deisik on May 08, 2017, 02:07:05 PM

Quote from: BillyBobZorton on May 08, 2017, 01:06:32 PM

BTC? nope

Well, so when are we to expect the Bitcoin price to go down finally?

I don't know about Litecoin, but personally, I'm waiting for Bitcoin correction. Obviously, only to buy back what I sold at recent highs. So, according to your logic, we should necessarily see Bitcoin price if not crash, then at least decline massively (due to people dropping bitcoins like hot potatoes and going full throttle into Litecoin). But this is nowhere to be seen, it looks more like Bitcoin is consolidating right now to jump at new highs in the nearest future. I guess you should try to coherently explain this conundrum or paradox

The thing is, people don't necessarily need to drop their BTC for LTC. Now that LTC is in Coinbase which is what most people use to buy coins, people can buy it for LTC. Also there's billions in other coins and LTC is a good coin to buy and hold.

People don't want to make just more dollars, they want to make more BTC, and if you want to make more BTC, you have to hold at least 1 alt that will go up against BTC.

It's obvious that BTC will sooner or later meet a dead end in the scaling debate. LTC is already ready. The development and efforts made in LN will all be running on LTC soon and this will translate in price as more and more headlines about LTC hit the news:

http://www.coindesk.com/litecoin-giving-new-life-bitcoins-experimental-tech/

sportis

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Litecoin is good as alternative of btc only for small transactions. If the scaling debate going on for long, people will find another way for micropayments like as the ltc or will stop if they haven't already done to use bitcoin as currency. But in case of big transactions tx fees in main net are currently very cheap compared with the traditional wire transfer of fiat money.

bitboy11

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Quote from: U2 on May 08, 2017, 02:30:56 PM

Quote from: alyssa85 on May 08, 2017, 10:36:55 AM

I'd say NO.

There were only 11,940 litecoin transactions in the last 24 hours. See this chart:

https://bitinfocharts.com/comparison/litecoin-transactions.html

Litecoin hasn't even reached the 20,000 transactions they managed in 2014, let alone take some of the overflow from bitcoin.

Haha I was going to buy some but when I saw that exact same thing I went... wait... why the hell would they even need segwit? Oh they don't? So why is the price 7x what it was a month ago...? Ah. 100% speculation. Just like the other shitcoins that are getting segwit for no reason since they have no transaction volume either. Wow very coin is getting segwit!? Great! Now they can handle the 942 transactions they have... a hahahahaha who cares.

All it means is that Litecoin has become even more efficient for future use and will probably not have a full block issue for years to come even with massive adoption.

Marma Kalari

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Litecoin is definitely doing something well, after such a long stagnation it is good to see it moving in the right direction. Altcoins need to be the small transaction ledgers for Bitcoin and I see no issue of having litecoin be the first to do so.

Litecoin was sleeping for a long time and with the activation of segwit people are back to litecoin and hope we could see some further movement and could break the $30 barrier in the coming weeks but the problem here is the scaling issues bitcoin is facing,litecoin never had a block size issue but still they activated segwit for lightning networks,lets hope bitcoin will activate it without further delays.

U2

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Quote from: alyssa85 on May 08, 2017, 10:36:55 AM

I'd say NO.

There were only 11,940 litecoin transactions in the last 24 hours. See this chart:

https://bitinfocharts.com/comparison/litecoin-transactions.html

Litecoin hasn't even reached the 20,000 transactions they managed in 2014, let alone take some of the overflow from bitcoin.

Haha I was going to buy some but when I saw that exact same thing I went... wait... why the hell would they even need segwit? Oh they don't? So why is the price 7x what it was a month ago...? Ah. 100% speculation. Just like the other shitcoins that are getting segwit for no reason since they have no transaction volume either. Wow very coin is getting segwit!? Great! Now they can handle the 942 transactions they have... a hahahahaha who cares.

deisik

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Quote from: BillyBobZorton on May 08, 2017, 01:06:32 PM

BTC? nope

Well, so when are we to expect the Bitcoin price to go down finally?

I don't know about Litecoin, but personally, I'm waiting for Bitcoin correction. Obviously, only to buy back what I sold at recent highs. So, according to your logic, we should necessarily see Bitcoin price if not crash, then at least decline massively (due to people dropping bitcoins like hot potatoes and going full throttle into Litecoin). But this is nowhere to be seen, it looks more like Bitcoin is consolidating right now to jump at new highs in the nearest future. I guess you should try to coherently explain this conundrum or paradox

Weatherby

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Quote from: BillyBobZorton on May 08, 2017, 10:15:36 AM

I would have thought LTC was an useless altcoin just like the rest of them, but upon analyzing the current fundamentals, seems clear to me how LTC is the missing piece in the current puzzle of a stalemate BTC that is simply incapable of any further scaling.
LTC is going to provide the fast and cheap transactions the new people that enter the cryptospace are looking for. The addition into Coinbase pretty much confirmed it will go to ATH since Coinbase is what like 99% of new people use to buy crypto.

Just recently noticed that coinbase added ETH and now they have included litecoin too,it is a fact that every newbie would start using a web wallet before learning about other possibilities but it is hard to believe that bitcoin will use litecoin as a gateway for faster transactions,if that is an option it is well and good but implementation is really hard to come by.

BillyBobZorton

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Quote from: alyssa85 on May 08, 2017, 10:36:55 AM

I'd say NO.

There were only 11,940 litecoin transactions in the last 24 hours. See this chart:

https://bitinfocharts.com/comparison/litecoin-transactions.html

Litecoin hasn't even reached the 20,000 transactions they managed in 2014, let alone take some of the overflow from bitcoin.

Try reading the thread and applying logic next time, because you (like everyone else saying how "LTC has no transaction volume" or "LTC doesn't need segwit") aren't using their brains.

Try to think in long term, not now.

If things continue as they are, then who has the advantage, BTC or LTC?

You expect people to continue making low value transactions in the BTC blockchain?

People will get increasingly tired and then you'll see LTC transaction volume go up.

Also, you get segwit before you need it, or you end up like BTC. You have to get those things rolled as quick as possible. The more time passes, the harder consensus becomes in general.

So LTC did its homework, and it's ready now for mainstream global adoption.

BTC? nope.

iamTom123

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Quote from: audaciousbeing on May 08, 2017, 10:10:44 AM

Quote from: thejaytiesto on May 08, 2017, 08:52:46 AM

Litecoin will be huge, everyone with a brain knows that. Bitcoin is not getting segwit, anyone that still thinks bitcoin is getting segwit is just delusional (or at least anytime soon). So pick your litecoins and enjoy the ride. There will be ups and downs because of profit taking bagholders tho, but I think the current dip was just due Poloniex fucking up and shaking weak hands. If it wasn't for that we would still be at 0.02+ so pick some before its too late.

Anyway, atomic cross chain transactions are a great thing for BTC, so both LTC and BTC will benefit.

Its very good to be optimistic about a project. I equally believe in LTC the same way you also believe in it but the issue I always have is that all the ALTs just wanted to overcome bitcoin and that is their motive and driving force. Overcoming is not even the issue but the process of overcoming is what they dont want to go through which is definitely rough. Bitcoin has undergo all this process in other to be what it is today and we are all proud of it. So, if LTC is ready to go for it no problem but be ready and brace up for the down times.

LiteCoin definitely has a future worth looking forward for. Hopefully, it would soon be the number two digital currency ahead of Ethereum though Ethers has already in there going to the peak ahead. I am holding to my LTC until it would reach $100 hahaha it is better to be optimistic here as there is definitely a big room to grow. The dip is nothing to be worried about as it is just normal in a traded currency.

LBX

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A

Quote from: lol3c on May 08, 2017, 10:27:32 AM

Litecoin is a copycat of Bitcoin but the block mining progress is 4 times faster than Bitcoin. Therefore, Litecoin can easily gain the lightning network after activating the segwit. we can see than Litecoin will be much more faster than other crypto.

what is it? segwit

alyssa85

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I'd say NO.

There were only 11,940 litecoin transactions in the last 24 hours. See this chart:

https://bitinfocharts.com/comparison/litecoin-transactions.html

Litecoin hasn't even reached the 20,000 transactions they managed in 2014, let alone take some of the overflow from bitcoin.

JeffBrad12

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Quote from: BillyBobZorton on May 08, 2017, 10:15:36 AM

Quote from: audaciousbeing on May 08, 2017, 10:10:44 AM

Quote from: thejaytiesto on May 08, 2017, 08:52:46 AM

Litecoin will be huge, everyone with a brain knows that. Bitcoin is not getting segwit, anyone that still thinks bitcoin is getting segwit is just delusional (or at least anytime soon). So pick your litecoins and enjoy the ride. There will be ups and downs because of profit taking bagholders tho, but I think the current dip was just due Poloniex fucking up and shaking weak hands. If it wasn't for that we would still be at 0.02+ so pick some before its too late.

Anyway, atomic cross chain transactions are a great thing for BTC, so both LTC and BTC will benefit.

Its very good to be optimistic about a project. I equally believe in LTC the same way you also believe in it but the issue I always have is that all the ALTs just wanted to overcome bitcoin and that is their motive and driving force. Overcoming is not even the issue but the process of overcoming is what they dont want to go through which is definitely rough. Bitcoin has undergo all this process in other to be what it is today and we are all proud of it. So, if LTC is ready to go for it no problem but be ready and brace up for the down times.

I would have thought LTC was an useless altcoin just like the rest of them, but upon analyzing the current fundamentals, seems clear to me how LTC is the missing piece in the current puzzle of a stalemate BTC that is simply incapable of any further scaling.

LTC is going to provide the fast and cheap transactions the new people that enter the cryptospace are looking for. The addition into Coinbase pretty much confirmed it will go to ATH since Coinbase is what like 99% of new people use to buy crypto.

Too many politicians on bitcoin. Tried to destroy each other. As far as i know if LTC is over 80% familiar with bitcoin.

My thought if that can be bitcoin alternatives way. It's possible regarding from the DNA of litecoin is really identic with bitcoin.

4x faster block than bitcoin, Remember the NewYork financial has announced about coinbase is the first exchange site sell litecoin stock on NewYork people.

That means LTC should be considered as a legal commodity in my mind.

But i want to know how LN gets implemented on LTC.

lol3c

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Litecoin is a copycat of Bitcoin but the block mining progress is 4 times faster than Bitcoin. Therefore, Litecoin can easily gain the lightning network after activating the segwit. we can see than Litecoin will be much more faster than other crypto.

Kprawn

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I think the next killer application will be developed to take advantage of a Alt coin with cheap and fast transactions and LiteCoin might just have

capitalised on grabbing that opportunity, when they added SegWit to their coin. The LN will be the cherry on the cake and Bitcoin will be left

behind to struggle with slow tx confirmations and expensive miners fees. All these people spamming the network and blocking SegWit will be left

with a near obsolete technology. Angry

BillyBobZorton

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Quote from: audaciousbeing on May 08, 2017, 10:10:44 AM

Quote from: thejaytiesto on May 08, 2017, 08:52:46 AM

Litecoin will be huge, everyone with a brain knows that. Bitcoin is not getting segwit, anyone that still thinks bitcoin is getting segwit is just delusional (or at least anytime soon). So pick your litecoins and enjoy the ride. There will be ups and downs because of profit taking bagholders tho, but I think the current dip was just due Poloniex fucking up and shaking weak hands. If it wasn't for that we would still be at 0.02+ so pick some before its too late.

Anyway, atomic cross chain transactions are a great thing for BTC, so both LTC and BTC will benefit.

Its very good to be optimistic about a project. I equally believe in LTC the same way you also believe in it but the issue I always have is that all the ALTs just wanted to overcome bitcoin and that is their motive and driving force. Overcoming is not even the issue but the process of overcoming is what they dont want to go through which is definitely rough. Bitcoin has undergo all this process in other to be what it is today and we are all proud of it. So, if LTC is ready to go for it no problem but be ready and brace up for the down times.

I would have thought LTC was an useless altcoin just like the rest of them, but upon analyzing the current fundamentals, seems clear to me how LTC is the missing piece in the current puzzle of a stalemate BTC that is simply incapable of any further scaling.

LTC is going to provide the fast and cheap transactions the new people that enter the cryptospace are looking for. The addition into Coinbase pretty much confirmed it will go to ATH since Coinbase is what like 99% of new people use to buy crypto.

audaciousbeing

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Quote from: thejaytiesto on May 08, 2017, 08:52:46 AM

Litecoin will be huge, everyone with a brain knows that. Bitcoin is not getting segwit, anyone that still thinks bitcoin is getting segwit is just delusional (or at least anytime soon). So pick your litecoins and enjoy the ride. There will be ups and downs because of profit taking bagholders tho, but I think the current dip was just due Poloniex fucking up and shaking weak hands. If it wasn't for that we would still be at 0.02+ so pick some before its too late.

Anyway, atomic cross chain transactions are a great thing for BTC, so both LTC and BTC will benefit.

Its very good to be optimistic about a project. I equally believe in LTC the same way you also believe in it but the issue I always have is that all the ALTs just wanted to overcome bitcoin and that is their motive and driving force. Overcoming is not even the issue but the process of overcoming is what they dont want to go through which is definitely rough. Bitcoin has undergo all this process in other to be what it is today and we are all proud of it. So, if LTC is ready to go for it no problem but be ready and brace up for the down times.

thejaytiesto

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Litecoin will be huge, everyone with a brain knows that. Bitcoin is not getting segwit, anyone that still thinks bitcoin is getting segwit is just delusional (or at least anytime soon). So pick your litecoins and enjoy the ride. There will be ups and downs because of profit taking bagholders tho, but I think the current dip was just due Poloniex fucking up and shaking weak hands. If it wasn't for that we would still be at 0.02+ so pick some before its too late.

Anyway, atomic cross chain transactions are a great thing for BTC, so both LTC and BTC will benefit.

BillyBobZorton

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https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b

Bitcoin can implement Lightning Network without segwit but as we know without segwit is just not as good, but it still can give the bitcoin blockchain the ability to 'merge' with the litecoin blockchain to provide fast transactions and solve the scalability issue.

Bitcoin doesn't need to implement segwit to get LN, although it is far better if it does. Without segwit LN would require some very complex coding.

Could Litecoin be our savior after all?

Topic: LTC as the gateway coin for fast and cheap BTC transactions? (Read 1401 times)