Litecoin developer Charlie Lee believes that the price of the cryptocurrency could attain $14 while Segregated Witness is activated at the litecoin network. On Saturday, F2Pool mined Segregated Witness blocks for each Bitcoin and Litecoin.
Charlie Lee posted in Twitter that he sees a 72.34 % opportunity of another pool signaling for Segregated Witness within the following seven days. He equates the anticipated costs to the level of signaling the litecoin network has obtained so far: twenty percent to $4, sixty percent to $9, one hundred percent to $14. There are signs the litecoin network will activate Segregated Witness soon. It creates excitement for some customers to join the Litecoin train. This attitude, in addition to the information that its activation of Segregated Witness is an experiment for Bitcoin, makes a few lovers need to throw their weight in the back of it.
They are hopeful that Litecoin will display the Bitcoin community that Segregated Witness can be excellent for Bitcoin, although Litecoin price is probably to fall if and after Segregated Witness is activated for Bitcoin. This is because a successful implementation will probably growth the possibilities of a prosperous Bitcoin Segregated Witness implementation considerably. In the meantime, Litecoin price will maintain to slowly rise until the activation main via to whilst Segregated Witness will go live.
Litecoin’s capacity to mix each Bitcoin and the Lightning network for transactions is a main function that could see it grow to be more precious than top opportunity currencies due to it can open new opportunities that the business has not seen yet. The possibility that Segregated Witness activation on Litecoin may also bring in new customers to the fold is likewise a plus.
The improvement is coming after Charlie Lee wrote a letter to China’s Litecoin miners and pool operators aimed toward convincing them on why Segregated Witness is nice for the litecoin network. Charlie Lee noted that Litecoin is not presently running into a block size issues, it has 4 times the capability of Bitcoin, however is bent on activating Segregated Witness as it has a fix for transaction malleability, which allows the including of recent technology like the Lightning network and Schnorr signatures or private Transactions.
Lee said that Litecoin could shine if we are able to get Segregated Witness on Litecoin as Bitcoin continues stalling because of the block size-scaling deadlock ought to appeal to a segment of China’s traders.
Charlie Lee said:
“The marketplace is expecting Litecoin to get Segregated Witness and the price will react definitely if Segregated Witness is activated. Seeing all these different altcoins pump is actually disheartening. So let’s deliver the marketplace what it desires.”