LiteCoin is on the very threshold of HISTORY folks! This network vote means a lot to the Bitcoin community !! Big news!
$LTC surged in price/value this week and the miner support also has surged in recent days -- now very very near to the 75% of the required votes needed, to make the switch. Big news for this coin, and also the Bitcoin community as we know!!
People get confused: You do not look at the DAILY % or number for miner support --- You have to look at the line that deals with TOTAL miner support.
Charlie Lee of LiteCoin was asking for support from a large pool of Chinese miners in a pool--- and by all accounts, they came onboard, and that led today, earlier to the day's success in reaching the required SegWit threshold needed at 75% of miners on that consensus.
On February 3 this year, Litecoin miners began to signal (vote) on the Segwit integration. (Segregated Witness)
Some of you know that I have been personally watching the Litecoin market and news, knowing this network vote was coming for many weeks now.... why????
Generally Litecoin has been called the "silver to Bitcoin's gold" -- because the 2 crypto currencies share so many common features and coding.
That is why the BITCOIN community is watching the progress on this vote on the network.
Here is the updated screenie of the CoinmarketCap site -- for LiteCoin: Hours after the big news of the day too:
Litecoin Upgrades include:
Fix malleability,
Possible block size capacity optimization. (Likely meaning more transactions processed / block and speed up the transaction queue.
Furthermore, implementing Segwit means the Lightning Network can be applied to the Litecoin protocol as well.
( The Lightning Network: A protocol made to increase the speed of transactions & assist Bitcoin’s current tech. limits in regards to scaling on the network as-is. It is commonly known that right now, it can only process fewer than 10 transactions per second, vs. the thousands that other payment processors are handling currently. )
It is pretty cool, you can watch the network/miners' (voters) process here!
-- http://litecoinblockhalf.com/segwit.php
Today in the CoinTelegraph:
Litecoin Segregated Witness (SegWit) activation appears to be creeping closer as BW mining pool mines its first SegWit block.
The altcoin’s fortunes have increased dramatically in recent weeks on speculation SegWit would begin, despite allegations of sabotage by certain community members.
Creator Charlie Lee broadcast the BW event via Twitter on Tuesday.
BW controls around 6.6 percent of mining power for Litecoin, meaning that its signaling of SegWit would push overall mining support over the 75 percent boundary needed for full activation. The figure currently stands at just under 74 percent.
Lee had previously appealed to Litecoin users to facilitate a user-activated soft fork (UASF) after rumors appeared that anti-SegWit miners were deliberately halting its progress.
In Bitcoin’s SegWit process, meanwhile, it appears that global corporation Microsoft is notionally also behind a UASF.
In a tweet on Tuesday, the head of decentralized identity Daniel Buchner said that “by default, all (Bitcoin) full nodes and clients used in Microsoft's open source decentralized identity implementations will signal” for it.
Direct quotes + reference: https://cointelegraph.com/news/litecoin-mining-pool-bwcom-mines-first-segwit-block
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
$LTC surged in price/value this week and the miner support also has surged in recent days -- now very very near to the 75% of the required votes needed, to make the switch. Big news for this coin, and also the Bitcoin community as we know!!
People get confused: You do not look at the DAILY % or number for miner support --- You have to look at the line that deals with TOTAL miner support.
Charlie Lee of LiteCoin was asking for support from a large pool of Chinese miners in a pool--- and by all accounts, they came onboard, and that led today, earlier to the day's success in reaching the required SegWit threshold needed at 75% of miners on that consensus.
On February 3 this year, Litecoin miners began to signal (vote) on the Segwit integration. (Segregated Witness)
Some of you know that I have been personally watching the Litecoin market and news, knowing this network vote was coming for many weeks now.... why????
Generally Litecoin has been called the "silver to Bitcoin's gold" -- because the 2 crypto currencies share so many common features and coding.
That is why the BITCOIN community is watching the progress on this vote on the network.
Here is the updated screenie of the CoinmarketCap site -- for LiteCoin: Hours after the big news of the day too:
Litecoin Upgrades include:
Fix malleability,
Possible block size capacity optimization. (Likely meaning more transactions processed / block and speed up the transaction queue.
Furthermore, implementing Segwit means the Lightning Network can be applied to the Litecoin protocol as well.
( The Lightning Network: A protocol made to increase the speed of transactions & assist Bitcoin’s current tech. limits in regards to scaling on the network as-is. It is commonly known that right now, it can only process fewer than 10 transactions per second, vs. the thousands that other payment processors are handling currently. )
It is pretty cool, you can watch the network/miners' (voters) process here!
-- http://litecoinblockhalf.com/segwit.php
Today in the CoinTelegraph:
Litecoin Segregated Witness (SegWit) activation appears to be creeping closer as BW mining pool mines its first SegWit block.
The altcoin’s fortunes have increased dramatically in recent weeks on speculation SegWit would begin, despite allegations of sabotage by certain community members.
Creator Charlie Lee broadcast the BW event via Twitter on Tuesday.
BW controls around 6.6 percent of mining power for Litecoin, meaning that its signaling of SegWit would push overall mining support over the 75 percent boundary needed for full activation. The figure currently stands at just under 74 percent.
Lee had previously appealed to Litecoin users to facilitate a user-activated soft fork (UASF) after rumors appeared that anti-SegWit miners were deliberately halting its progress.
In Bitcoin’s SegWit process, meanwhile, it appears that global corporation Microsoft is notionally also behind a UASF.
In a tweet on Tuesday, the head of decentralized identity Daniel Buchner said that “by default, all (Bitcoin) full nodes and clients used in Microsoft's open source decentralized identity implementations will signal” for it.
Direct quotes + reference: https://cointelegraph.com/news/litecoin-mining-pool-bwcom-mines-first-segwit-block
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Charlie Lee of LiteCoin was active on my tweet about this today...
https://twitter.com/BarryDutton/status/852350199590789120
Disclaimer: I am just a bot trying to be helpful.
Charlie Lee of LTC active on this tweet of mine!
This post has been ranked within the top 10 most undervalued posts in the first half of Apr 13. We estimate that this post is undervalued by $1.92 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Apr 13 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Thanks
I am glad you stay up to date with this stuff. I always check your blog for good crypto info!
Was just discussing this on altcoins channel in Dashnation slack. Does the 75% have to be for all coins mined during the activation period, or just the most recent mining period once the target block is reached? Because their chart shows that only 67% have been mined with SegWit during the activation period with less than 10% of the blocks left.
Charlie Lee of LiteCoin was active on my tweet about this today...
While this is interesting to keep up to date on, I'm not quite sure I understand why this is so phenomenal.
Is it just similar to investing in gold and silver in that the accrued value's purpose is to be a placeholder until you want buying power?
I think this is big news in CryptoLand. Let's just hope that Jihan Wu isn't going to wait until just before next difficulty retargeting and then turn on a warehouse full of non-SW miners, because you know, fuckery.
Now let's get the innovation train rolling!
Also, I think Charles X Ryan should use Litecoin on the Yours Network.
Any updates on LTC? I see Charlie Lee put out some more tweets bout Segwit today(Your LTC work encouraged me to monitor his twitter) I am going deeper down the crypto rabbit hole lol
I have done a lot of LTC work and blogs the last few mths, so I keep an eye on it but I only had a quick look today, my man.
TY for the kind words!
I am glad my stuff helps a few people here and there. That means value to me, and that is why I post.
I definitely enjoy reading your posts. I took your advice in regards to LTC so I am hoping for Segwit ;) Keep up the great work!
I am still thinking about our chat last week about LTC and the ETC and seeing you knew exactly what I was talking about.
I still feel like many that $ETC is undervalued, it has been around the $2.60 USD mark for quite awhile now, I do not think you can go wrong if you pick some of that up -- very affordable and lots of good things going on with it as you know.