Topic: Segwit Activation Dance with Litecoin and Vertcoin (Read 1055 times)
we could see a nice price in ltc soon guys
We can see that the market is optimistic with the adoption of SegWit and respond positively to Litecoin, confirming that the quick action brought good results and profits to all involved. In addition, it has brought a reinforcement to the team of other crypto-coins that the update for the use of SegWit can be viable and interesting. We hope Bitcoin and other criptocoins will take Litecoin as a base and make our lives of miners something more peaceful and profitable.
Re: Well, well, well, now we know what Jihan Wu’s been up to.
I finally figured out the most likely reason Jihan is blocking SegWit both on Bitcoin and Litecoin.
Bitmain as the manufacturer of 70% of the mining ASICs, see the issuance of tokens as their exclusive domain. In other words, they very powerful shadow elite who are backing Bitmain want all the tokens issued for themselves. Yes I suspect MP is an owner/investor of Bitmain.
So therefor they need to control that the price doesn't rise faster than the supply of hashrate so that marginal miners (those not in their cabal of mining farms with subsidized electricity) are never significantly profitable. In this way, all the economic value from mining ends up in Bitmain's pocket with which they can purchase the tokens for their shadow elite investors/owners.
But SegWit would enable Core to make upgrades in the future to Bitcoin's ecosystem without needing hashrate activation. Thus Core could in the future push the price up and down, removing that control from Bitman.
This is probably why miners are pushing extension blocks instead as a scaling solution.
Miners will support a change to Litecoin's protocol which allows LN to be added for Litecoin, but Jihan will probably block the features of SegWit which allow softforking version changes. Also I don't think LN (off chain scaling) will ever be allowed for Bitcoin because I explained else where that it causes instability of the block chain and no need to risk for the $billionaire's settlement blockchain which is what Bitcoin is to become.
On Litecoin, Jihan enabled the hype to push the price up so he could presell the April 15 and May 15 batches of L3+ miners at what seemed like a bargain at current LTC price and hashrate, but he probably knows he is going to block SegWit activation and crash the price as well raising the hashrate with those new L3+ miners shipping.
I finally figured out the most likely reason Jihan is blocking SegWit both on Bitcoin and Litecoin.
Bitmain as the manufacturer of 70% of the mining ASICs, see the issuance of tokens as their exclusive domain. In other words, they very powerful shadow elite who are backing Bitmain want all the tokens issued for themselves. Yes I suspect MP is an owner/investor of Bitmain.
So therefor they need to control that the price doesn't rise faster than the supply of hashrate so that marginal miners (those not in their cabal of mining farms with subsidized electricity) are never significantly profitable. In this way, all the economic value from mining ends up in Bitmain's pocket with which they can purchase the tokens for their shadow elite investors/owners.
But SegWit would enable Core to make upgrades in the future to Bitcoin's ecosystem without needing hashrate activation. Thus Core could in the future push the price up and down, removing that control from Bitman.
This is probably why miners are pushing extension blocks instead as a scaling solution.
Miners will support a change to Litecoin's protocol which allows LN to be added for Litecoin, but Jihan will probably block the features of SegWit which allow softforking version changes. Also I don't think LN (off chain scaling) will ever be allowed for Bitcoin because I explained else where that it causes instability of the block chain and no need to risk for the $billionaire's settlement blockchain which is what Bitcoin is to become.
On Litecoin, Jihan enabled the hype to push the price up so he could presell the April 15 and May 15 batches of L3+ miners at what seemed like a bargain at current LTC price and hashrate, but he probably knows he is going to block SegWit activation and crash the price as well raising the hashrate with those new L3+ miners shipping.
thanks to segwit they are adding litecoin to coinbase very soon, vertcoin is looking for the same fate and they are activating segwit for this reason, really excited to see more coin on an exchange like coinbase, maybe in the future we can have more coin to use like bitcoin and not only pump and dump
Litecoin (LTC) and Vertcoin (VTC) seem to take part in a Segwit activation dance between Segwit lovers and Segwit "haters".
Litecoin is currently balancing around the 75% and I think that with one Chinese (bitminer) switch it can drop down a lot.
Vertcoin was above the 75% ( Price did spike 200% although it is nowhere near to the 2014 rate. Just like Litecoin)
when suddenly a lonesome miner/pool (VrnVLcJ7tNCSjMcSmG5p31XQowCLqqvG2F) decided that Sewgit is a NONO
Obliterated the hashrate and the current Segwit support dropped to 30% . Miner/Pool even has a +51% hashrate stake now.
https://vtconline.org/sf.html
They probably want to milk the Segwit support, until the last moment and cliffhanger..Sewgit on the horizon then make it drop like it was a Fata Morgana and Repeat)
(Sell high, buy low) I don't think it will activate for several months.
I do like the drama
Litecoin is currently balancing around the 75% and I think that with one Chinese (bitminer) switch it can drop down a lot.
Vertcoin was above the 75% ( Price did spike 200% although it is nowhere near to the 2014 rate. Just like Litecoin)
when suddenly a lonesome miner/pool (VrnVLcJ7tNCSjMcSmG5p31XQowCLqqvG2F) decided that Sewgit is a NONO
Obliterated the hashrate and the current Segwit support dropped to 30% . Miner/Pool even has a +51% hashrate stake now.
https://vtconline.org/sf.html
They probably want to milk the Segwit support, until the last moment and cliffhanger..Sewgit on the horizon then make it drop like it was a Fata Morgana and Repeat)
(Sell high, buy low) I don't think it will activate for several months.
I do like the drama
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