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Today - SegWit Starts on Bitcoin, Litecoin gets Lighting Network
19 hours ago
kingscrown74 in bitcoin
This is a big day for both currencies who we can call brothers.

1 Hour Till SegWit

Finally in 23 blocks from now Segwit will activate, so possibly from tommorow we will start getting cheaper fees while using BTC. There are many Segwit parties today all around the world.

Up here you can find local parties: http://segwit.party/

Lighting Network on LTC

Now what this gives is Instant payments, better privacy, smaller fees. Upcoming - Cross-chain swaps with other coins (ie BTC) and really nice Microtransactions. tldr - this is BIG.

Trade The News!
While you may not have enough funds to buy loads of LTC or BTC or you are afraid you can leverage trade on ie BitMex.
Deposit some BTC then with as little as 0.01 BTC you play and get fees of ie 0.07 (just example).

There is BTC LTC ZEC XMR and more to trade this way. I'm there since years and love that spot for fast actions on news.

Litecoin Markets

As you can see its mostly fiat exchanged into LTC now meaning the coin is raising in USD/CNY value not due to BTC dumps but due to new money flying into it.

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!

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19 hours ago by kingscrown74$286.28
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tobixen59 · 11 hours ago
Here are the steps one needs to go through to actually benefit from SegWit:

One needs a wallet or an account supporting SegWit
One needs to generate new SegWit addresses
One needs to receive bitcoins to the new SegWit address
When spending those new SegWit funds, one can finally get a discount on the fee spent.
I believe it will take many weeks until laymen will experience any lower fees due to SegWit.

Devices like Trezor benefits from SegWit as the so-called quadratic hashing cost has been replaced with a linear hashing cost (meaning less CPU and memory is needed to process heavy transactions). However, bear in mind that this has only been solved for SegWit inputs, "old" funds are still as expensive as always to spend. (Bitcoin Cash has actually solved the quadratic hashing cost for all new transactions).

Then there is the mallability fix, which allows for Lightning. Remember that the advantage of Bitcoins is the network effect; the lightning network starts from scratch. I believe it will take years until Lghtning will get more useful than any other altcoin.

All in all, I'm not very much impressed with SegWit. I do believe we need SegWit2X for Bitcoin to be useful again. With the current fee levels, Bitcoin payments is only competitive to Fiat payments in some very few usecases, including bigger cross-border transactions and criminal use cases. That's not the Bitcoin I signed up for.