[pyabo]

Litecoin is now back because of Segwit. It's Bitcoin's hope to push a final acceptance of Segwit on Bitcoin. But, it doesn't have a real value in my opinion. About cryptocurrencies in general I can say that I use them to get payments and to pay employees and I find them very useful and the user experience is much better than normal banking (fast international transfers and complete tracking) and no need for KYC.

[kordless]

I would modify that slightly and say Litecoin is back because of the Lightning Network, which benefits greatly from features provided by Segwit, and which itself leverages payment channels backed by multi-sig addresses. While Lightning can be enabled without Segwit, it's far more trustworthy with it, than without it.

https://www.youtube.com/watch?v=MpfvhiqFw7A

[QML]

Yeah there's no way to the transaction rate of PayPal or Visa without the use of side chains -- modifying the blockchain protocol only results in linear changes to scalability.

[flyingfences]

> which benefits greatly from features provided by Segwit

Which is only possible because of the features provided by SegWit.

[kordless]

Actually, that's not technically true. FWIU, Lighting could be run on both Bitcoin and Litecoin today, but issues with transaction malleability could cause it to be less than trustworthy, for some use cases. So, Segwit, which fixes transaction mailability by moving the header in the transaction to it's own section, enables a higher trust Lightning network to be deployed, on top of a more trustworthy blockchain.

[flyingfences]

Your understanding is correct AFAIK. However, the entire point of Bitcoin (and cryptocurrencies in general) is that it's a system that does not have to rely on trust. A "less than trustworthy" implementation is not a tenable implementation. In order for L2 solutions to be truly, universally usable we need a fix for transaction malleability.

Don't trust. Verify.

[hammock]

WTF is any of this, and where do I learn about it. Like, where did you find that video?