So I just found out that Litecoin HardForked ?
I must be losing my touch
Or I'm just really busy at the moment. I only just found out that Litecoin hardforked and litecoin cash (how unoriginal) is trading at around the $6.80 mark ???!!! I must be really busy (I am actually) According to DailyFX the claim ratio to holders is 1:10.. that's $68 x your litecoin holdings
ScAm ?
The Litecoin team are quoted as saying it's a scam, Charlie Lee is having none of it (of course they / he would) say that. It would appear that the litecoin fork is an actual & legitimate hardfork (at this point), there seems to be no reason to fork it but it's not doing litecoin any apparent harm and whether it takes off remains to be seen. It's the silver's, new silver ! this tweet from a few days ago by the litecoin cash team seems to encapsulate quite neatly what's happened. I expect this will continue for a while with renegade miners forking off on most of the major coins. Whether they survive, are supported and flourish is one question...what their effect on the sector is remains to be seen. Bitcoincash looked at one point to be stripping bitcoin away reaching up to the $3,750 mark at it's peak around 20th December 2017 before falling back to a still very healthy $1385 today. We'll see if Litecoincash survives. It's a big bounty for modest holders of litecoin.. at 1:10 ! It's trading on Yobit and supposedly on a few other exchanges but I can't find it anywhere else yet.
Recycling Project
I had a read about it and it actually sounds quite inspired. Litecoin is mined with Scrypt but litecoincash will use proof of work on the SHA256 algorithm breathing life into older bitcoin mining hardware which is no longer fast enough for bitcoin. upcycling ! A usable currency you say, yes fees will be 90% less. As we move into the fee free Graphene era ultra low or no fee systems will prevail.
WORD of Warning
apparently litevault have been swamped by people empyting out their litecoin wallets in order to claim on an empty wallet. This is advisable and prudent considering that nobody seems to know that much about LCC) and it's the safest way to claim... however, it's not perhaps advisable today to withdraw from a glitchy swamped system. There is a warning on litevault saying transaction may not show or totally disappear.
Suggested further reading
FORBES litecoin reaches all time high after fork
CNBC litecoin rallies after fork
Daily Express Litecoin hardfork pushes up crypto price
no chance @speckofdust
do you really think I'm going to put my key in your pocket ?
@steemcleaners check this out below !! unf*cking believable behaviour.
I mean talk about lack of subtlety, I only posted this 5 minutes ago. please have a word / kick some ass >< I'll copy this into steemitchat
Are you sure this is legit? I don't get why Litecoin are denying it if it is? Very sketchy at the least right?
it seems to be nothing to do with litecoin so you could say a hostile fork by a renegade group ! I think it's legit, it's just perhaps unwarranted.. although if you read the spec, it looks like nothing more than a blockchain 3.0 upgrade which to be honest, makes sense if you want an actual usable currency to take over from bitcoin's slowly failing transactional track record. I'm not sure of anything, but I've had a scout around and it seems to be trading in the millions. It's a brand new currency with a market cap of $3+bn. I think therein lies the answer. There's going to be a lot more forking around this year as people jump on opportunity. ironically news of the fork made litecoin soar as people grabbed it for the 10:1 free coins ! I reckon it will do ok, we'll soon see :)
Definitely interested to see what happens with it. I suppose part of the problem is I can't quite get my head around the idea of a hostile fork! Probably just goes to show I have a lot more learning to do than I thought!
.
Stay away from this link and don't put your login details, because this guy is going to steal your password!
thanks @trendo, glad to know you saw this.. this sucker was too unsubtle.. he posted 1 minute after my post.. i immediately saw his fishy link.. steemit does not need scum like dis.. steemcleaners have been informed
Flag this piece of shit for trying to scam Steemit users. Bring his reputation to zero!
DONT CLICK THIS LINK. IT'S A PHISHING SITE TO TRY TO STEAL YOUR PASSWORD!
thanks dudes.. @phgnomo can you believe what an asshole this guy is? I was never falling for this shit ! but nice to know you have my back.. outright ban surely ?
Unfortunately there is no ban around here. The max we can do is flag the posts and comments to bring his rep to 0, and its posts wont show up on the feed.
there should be a ban for thieves !
surely that's a development issue for steemit