Ok... I know this seems to be a sticky subject these days... feel free to enlighten me with answers good audience:
Why the hell is Segwit being resisted if it enables Lightning Networks?
Is it really just a greed game? Is endangering your own profit worth this?
Couldn't the resistors just clone Bitcoin and make their own currency? Everybody else does.
Or is it a simple game of price manipulation? Well... maybe not simple... but a game no less! A not fun game where no one wins as much as they should because people keep flipping the board over.
Now if you are like anyone out there who really isn't sure what the hell Segwit is, I'm like 70% certain it is a proposed soft fork of the Bitcoin base code that will help increase block size and transaction speed by allowing more improvements to the code.
How close am I? Let me know if I done a good!
From my perspective, it seems great! Then I look at Bitcoin Unlimited (the other side of this argument) and I'm reasonably certain their argument is smaller block sizes (1MB max) will be better for the blockchain and miners in the future. This also sounds good!
Then there are the giant block miners... which I know very little about... and they kind of seem like mythic giants occasionally dropping a huge bouldery block of bitcoin on the chain while everyone else just tries to ignore them. If anyone out there knows anything more about this part of the argument... fill me in.
Moving on to things I have researched a little more fully: Litecoin and the Lightning Network.
This is the reason why I don't understand why Segwit is a problem. The Lightning Network should allow the Bitcoin Highway with all its traffic to use the Litecoin Highway with all its wide open lanes.
Would this not increase the value of both blockchains? Shouldn't this be a no-brainer?
Litecoin gets to surge up past maybe even Ethereum and Bitcoin gets a huge infrastructure boost that makes people happy to use it again... not that they weren't still using it... ah you know what I mean...
There are other currencies using the Lightning Network but I couldn't tell you which. Are they also going to connect? Is this going to make obsolete all the exchanges? At least they wouldn't have all the banking problems they currently have...
The best part of this whole thing is that I had 3 Litecoin when they were worth 4$ USD... yay me! This morning Litecoin is up to 0.012 BTC which is around 14$ USD... Hooray for tiny profits!
It may only be a marginal victory but it marks the first time I have said: my research makes me think this and so I'm doing it. I have another prediction too, but I'll save that for the next post.
Until then people!
Tansley
PS here is a really good Litecoin faucet for everyone out there: http://moonliteco.in/?ref=42ae357c73e2
It's where most of my Litecoin came from and generates about 0.05 LTC /week if I don't push myself. My biggest week was about 0.2 LTC, so check it out. They also have Bitcoin and Dogecoin faucets.
Bitcoin -> http://moonbit.co.in/?ref=f6628bad85c9
Dogecoin -> http://moondoge.co.in/?ref=7b02505497f1
PPS I have a Litecoin account and am a unwealthy human, feel free to donate some Litecoin.
Here -> LdgoDRmr27bG9wYzBsbcRvpGAXgxcWQApc
I have many other accounts too but lets just keep it topical right?