Forcing activation of SegWit on Litecoin

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Steve Sokolowski
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Forcing activation of SegWit on Litecoin

Post by Steve Sokolowski » Tue Apr 18, 2017 8:08 am

Hi,

Someone is bring hashpower online to try to block Segregated Witness activation on Litecoin. We have the opportunity to counteract whoever this is by moving all hashrate to LTC at critical periods, which would either activate SegWit or significantly drive up the cost of blocking the proposal. The downside of this is that people would take a hit to profit for those periods and would only make LTC earnings.

If it becomes necessary, what are people's opinions on this? Is short-term profit more important, or should we push to activate SegWit?
olkah
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Re: Forcing activation of SegWit on Litecoin

Post by olkah » Tue Apr 18, 2017 8:28 am

My opinion the profit of the miners is most important and should always go to the top
jinxorbit
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Re: Forcing activation of SegWit on Litecoin

Post by jinxorbit » Tue Apr 18, 2017 8:57 am

I think it is better to activate SegWit, we have seen on the BTC network the cost of indecision, bickering and loss of confidence. It is better to take a short term loss, than suffer months of arguing and price fluctuations.
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CritterDog
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Re: Forcing activation of SegWit on Litecoin

Post by CritterDog » Tue Apr 18, 2017 10:05 am

jinxorbit wrote:I think it is better to activate SegWit, we have seen on the BTC network the cost of indecision, bickering and loss of confidence. It is better to take a short term loss, than suffer months of arguing and price fluctuations.
I agree with this post.
excelerator
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Re: Forcing activation of SegWit on Litecoin

Post by excelerator » Tue Apr 18, 2017 10:38 am

jinxorbit wrote:I think it is better to activate SegWit, we have seen on the BTC network the cost of indecision, bickering and loss of confidence. It is better to take a short term loss, than suffer months of arguing and price fluctuations.
Agreed - let's move to counteract the LTC1BTC action and move to activate SegWit.
tmopar
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Re: Forcing activation of SegWit on Litecoin

Post by tmopar » Tue Apr 18, 2017 11:46 am

I think in all conflicts we should ask, why are we taking this position? Why is someone expending resources to oppose it?

What is the actual nutshell benefit of SegWit? Why are they attempting to stop it?
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Steve Sokolowski
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Re: Forcing activation of SegWit on Litecoin

Post by Steve Sokolowski » Tue Apr 18, 2017 1:15 pm

excelerator wrote:
jinxorbit wrote:I think it is better to activate SegWit, we have seen on the BTC network the cost of indecision, bickering and loss of confidence. It is better to take a short term loss, than suffer months of arguing and price fluctuations.
Agreed - let's move to counteract the LTC1BTC action and move to activate SegWit.
In order to do this, we really need vinylwasp and ethercap to agree. Please try to get them to post here.

If the three of you agree together, then I need to do the math, but we can probably cover the losses to pay miners who disagree.
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CritterDog
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Re: Forcing activation of SegWit on Litecoin

Post by CritterDog » Tue Apr 18, 2017 1:34 pm

Steve Sokolowski wrote:
excelerator wrote:
jinxorbit wrote:I think it is better to activate SegWit, we have seen on the BTC network the cost of indecision, bickering and loss of confidence. It is better to take a short term loss, than suffer months of arguing and price fluctuations.
Agreed - let's move to counteract the LTC1BTC action and move to activate SegWit.
In order to do this, we really need vinylwasp and ethercap to agree. Please try to get them to post here.

If the three of you agree together, then I need to do the math, but we can probably cover the losses to pay miners who disagree.
I think if your sure you have enough hash power to overcome the problem and get segwit activated it would raise the price of LTC.. It seems the price dropped when this hash rate comes on line against activation then when it looks as if its going to activate LTC price goes up..
excelerator
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Re: Forcing activation of SegWit on Litecoin

Post by excelerator » Tue Apr 18, 2017 1:51 pm

Steve Sokolowski wrote:
excelerator wrote:
jinxorbit wrote:I think it is better to activate SegWit, we have seen on the BTC network the cost of indecision, bickering and loss of confidence. It is better to take a short term loss, than suffer months of arguing and price fluctuations.
Agreed - let's move to counteract the LTC1BTC action and move to activate SegWit.
In order to do this, we really need vinylwasp and ethercap to agree. Please try to get them to post here.

If the three of you agree together, then I need to do the math, but we can probably cover the losses to pay miners who disagree.
Do we have enough hashpower between the three of us to "solo" mine LTC through PH and not affect the remaining community ie no losses that aren't voluntary? I currently only have 6GH so not sure I really make a difference but happy to contribute to the cause. I'm not a big believer in mob rule and PH certainly shouldn't be paying for losses. It looks like this could take days and I think you're putting your entire business at risk here.

We must look for a middle way. Perhaps something as simple as announcement to the community that all hash is going to be redirected to LTC @ X hour for up to Y days?
Last edited by excelerator on Tue Apr 18, 2017 2:35 pm, edited 3 times in total.
nameisis
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Re: Forcing activation of SegWit on Litecoin

Post by nameisis » Tue Apr 18, 2017 2:03 pm

Agree to push Segwit. Especially to counter B**** Jihan. Latest hashrate spike is caused by L3+ miners who where suppose to be shipped out at Apr. 15th and now are delayed becasue of "firmware issue". So bascially Jihan and his buddies are now minning with sold miners who were supppose to be shipped out almost week ago.
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