Forcing activation of SegWit on Litecoin

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jstefanop
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Re: Forcing activation of SegWit on Litecoin

Postby jstefanop » Thu Apr 20, 2017 2:13 pm

jjunkie wrote:The only issue with renting hash is how do you know youre pulling it from the non-segwit side or from other coins? If you rent 100GH/s and redirect it from another LTC segwit pool then all you did was waste money and not help segwit activation at all. Its a noble gesture but unless you know for a fact that the hash you rent isnt currently on the LTC segwit side, its a pretty steep gamble.


Its from Nicehash, and anyone on nicehash is not pointing their hash at Litecoin unless they want to loose money. Im sure there is some that are doing the same as me but a large percentage of it is being pointed at more profitable coins (probably here too).
vinylwasp
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Re: Forcing activation of SegWit on Litecoin

Postby vinylwasp » Thu Apr 20, 2017 6:30 pm

jjunkie wrote:
jinxorbit wrote:So... I am reading about Bitmain's ASICboost being incompatible with SegWit. Could all of those hot new 500 Mh/s L3's be bricks if SegWit goes live? Does ASICboost only work with SHA256 or is it active on the L3's for Scrypt too?


Ive heard that only the units that Bitmain keeps for themselves has ASICBoost (possibly enabled via code in the software miner) but I guess only Bitmain knows for sure.

Are there ANY coins out at the moment who are currently running segwit? Couldnt someone with Bitmain hardware point to that coin and see if it mines as it should?

Groestlcoin (Groestl) was the first to activate segwit and there's also Syscoin (scrypt) that I know off but I'm not aware of any SHA256 coins which could be used to test ASICBoost.

I suspect that Bitmain have their own firmware with a key that enables ASICBoost that they keep to themselves. That's how I'd design it.
Last edited by vinylwasp on Thu Apr 20, 2017 6:40 pm, edited 1 time in total.
vinylwasp
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Re: Forcing activation of SegWit on Litecoin

Postby vinylwasp » Thu Apr 20, 2017 6:38 pm

jjunkie wrote:The only issue with renting hash is how do you know youre pulling it from the non-segwit side or from other coins? If you rent 100GH/s and redirect it from another LTC segwit pool then all you did was waste money and not help segwit activation at all. Its a noble gesture but unless you know for a fact that the hash you rent isnt currently on the LTC segwit side, its a pretty steep gamble.


If you believe that LTC price will go up once segwit is activated, you should in fact make roughly the same money if you mine LTC and are paid out in LTC (or mine solo), hold it until the price goes up, and then sell it.

You'll only loose 'paper' money while your reported daily pool profits are low (which assumes you sell at today's lower market rates).
In the long run you should recoup that through the LTC price pump, assuming that happens.

Will you make the same as mining BitConnectCoin, Game and Megacoin, etc? Depends how much LTC pumps after Segwit is fully activated.
vinylwasp
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Re: Forcing activation of SegWit on Litecoin

Postby vinylwasp » Fri Apr 21, 2017 3:24 am

Ok guys, where are we going with this? Are we acting as individuals or are we relying on Chris and Steve to strategically redirect hash as required to hit and maintain the 75% signalling threshold during the next window?
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jinxorbit
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Re: Forcing activation of SegWit on Litecoin

Postby jinxorbit » Fri Apr 21, 2017 7:09 am

vinylwasp wrote:Ok guys, where are we going with this? Are we acting as individuals or are we relying on Chris and Steve to strategically redirect hash as required to hit and maintain the 75% signalling threshold during the next window?

I am going with the Pool, and agree to direct hashpower as needed to activate SegWit.
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Steve Sokolowski
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Re: Forcing activation of SegWit on Litecoin

Postby Steve Sokolowski » Fri Apr 21, 2017 7:18 am

vinylwasp wrote:Ok guys, where are we going with this? Are we acting as individuals or are we relying on Chris and Steve to strategically redirect hash as required to hit and maintain the 75% signalling threshold during the next window?


I personally think we should wait until Monday and evaluate what the situation is on Monday morning. Currenly, the pool does not have enough hashrate to activate SegWit.
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FRISKIE
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Re: Forcing activation of SegWit on Litecoin

Postby FRISKIE » Fri Apr 21, 2017 10:41 am

amazingfunksta
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Re: Forcing activation of SegWit on Litecoin

Postby amazingfunksta » Fri Apr 21, 2017 11:45 am

So, it's very likely that LTC1BTC, LTC.top, and Antpool will start signalling segwit. However, maybe you guys could start mining on litecoin in the immediate term to increase the probability of activating segwit this period? It's unlikely that they're going to start within the next few hours, so maybe you guys could mine for a few hours until they cut theirs on to provide a buffer period?
excelerator
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Re: Forcing activation of SegWit on Litecoin

Postby excelerator » Fri Apr 21, 2017 12:29 pm

Steve Sokolowski wrote:
vinylwasp wrote:Ok guys, where are we going with this? Are we acting as individuals or are we relying on Chris and Steve to strategically redirect hash as required to hit and maintain the 75% signalling threshold during the next window?


I personally think we should wait until Monday and evaluate what the situation is on Monday morning. Currenly, the pool does not have enough hashrate to activate SegWit.


Following your lead.
vinylwasp
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Re: Forcing activation of SegWit on Litecoin

Postby vinylwasp » Fri Apr 21, 2017 7:29 pm

Looks like trust and consensus was restored the old fashioned way: face to face human interaction.

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