Topic: LTC Segwit is over 70% - page 6. (Read 12042 times)

Will that break up?

Probably my last post on LTC:

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Yes I noticed that later. Was very busy multitasking today.

It's just market noise. Relative to BTC there's an opportunity to acquire more LTC because of the BTC spike.


LTC/USD tells a different story: Triangle remains.

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.

You mean if the litecoin will be the teacher for the bitcoin about the segwit implementation? Wow, litecoin is officially to the moon after the segwit signaling will be successfull.

i think this is good and not for litecoin only, but for bitcoin, too, if bitcoin miners see that litecoin is following segwit, they also will follow their decision or at least i think that there is this possibility to convince more bitcoin and segwith softfork if another alt is doing the same thing and now that dash is dumped, i see the price increase too to 0.02, 0.01 is already there, this make 0.02+ possible

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!

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:

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.

Well, I guess that'll probably help with the current LiteCoin pump. Perhaps it'll also open up people towards adopting Segwit on the Bitcoin Network.

I do not think so, It needs some time to hit this price.

Hum it will be a fun night tonight, action on favorite China coin.

Predition for tomorow morning?

I think 0.015 BTC

Assuming it isn't already.

Will it affect the LTC price ? 

http://litecoinblockhalf.com/segwit.php

Litecoin is steadily climbing up and rising to .01 at the moment. LTC segwit activation can be anytime from now.

Exciting time for LTC!