Litecoin Cash?: It’s Coming, and It’s Completely Bizarre

in cryptocurrency •  9 months ago


Photo: litecoinca.sh

While people have littered Bitcoin left and right, and even Ethereum has its own fork, Litecoin is getting the same treatment. This time the fork calls itself Litecoin Cash. The fork will give all current Litecoin holders a 10 to 1 payout of LCC, and Litecoin Cash will reverse the algorithm to SHA-256 (same as bitcoin).

Basic information about LitecoinCash:

  • LitecoinCash can be extracted with SHA256 mining
  • Blocking time of 2.5 minutes
  • 90% cheaper than Litecoin
  • Replay attacked protection for the hard fork
  • Hard fork comes with address prefix to prevent confusion and interlace problems.
  • Segwit & Lyn ready
  • The mining problem is recalculated every block (as known from DASH)
  • Smooth and fair launch for miners
  • Maximum offer of 840 million
  • No real white paper yet
  • The ticker symbol will be LCC
  • Official website: litecoinca.sh

Here's how Charlie Lee (the creator of Litecoin) has comments on Twitter about LitecoinCash (LCC) and other forks who use Litecoin as part of their name. According to him, "some forks you hear about, a scam that tries to confuse you think it is related to litecoin". It is up to you to decide yourself if you support LitecoinCash (LCC) and / or other forks that may come out with the name Litecoin something.

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I do not think there is enough justification to create a fork for litecoin. Litecoin is one of the few crypto currencies with excellent performance.

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I can only see 1 reason and that is get rich quick scheme for the devs/scammers probably end up the same way as litcoin gold

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I can see another reason: making BCH seem less legitimite by having a bunch of ‘cash’ forks...

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I agree with you and LitePay is going to prove that!

Wow that is interesting. Wondering who is behind that possible fork and what is the purpose.

At the moment I don't think a somehow strange Litecoin fork is something the crypto market needs. I'm rather wishing for some stability. But who knows Litcoin Cash might surprise all of us, who would have thought that Bitcoin Cash will skyrock that much?

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Yes it might be, at least we can see who the team is and. not like bitconnect you can’t. Btw i think litecoin will have a Great 2018 with the visa partnership ( litepay ) news they announced.

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I partially agree with you as market nowadays is quite unpredictable. everything comes with a blow nowadays. hope to see a flourishing year for bitcoins

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Is the debit card available worldwide? - I couldn't find a list of countries on their website...

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Yes, "Visa-compatible LitePay card which will be supported worldwide"

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Guess you are going to claim your free LCC for sure, right? However no real white paper got me a little worried.

thanks for information on litecoin ☺

This is exciting news. I got my crypto start with Litecoin. The interface with Coinbase was great so I had a weekly purchase of coins set up. Started back in the summer with just $50 every 2 weeks. Kinda forgot about it for a while. I think Litecoin was trading at about $40-50 Canadian at the time. By Decembers rush we were trading at over $350 CDN. I think this coin has so much potential for growth and am looking forward to the introduction of LItecoin Cash. Thanks for sharing. I hadn't heard yet.

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What are your thoughts on the next cryptos for Coinbase to offer?

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It will be very interesting. I know there are a lot of people wanting them to start trading things like Tron and smaller priced coins but I really don't see that happening. If they take on new coins I think they will be coins that have a strong and steady market cap already. I could see Ripple or even Cardano possibly. Maybe even Neo or Dash. I don't think it will be more than a few coins that get added though. Bur at the end of the day I'm only speculating.

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Yes agreed, I think they are taking a much more conservative approach since the debacle with Bitcoin cash. Will be interesting to see what kind of price activity it triggers for the underlying coin.

Ok, one fork at a time! In 2 weeks Bitcoin and Zclassic are forking together to create Bitcoin Private...If satoshi is still alive and hodling his bitcoin private keys then he can finally move a forked version without anyone knowing...I am sure he will wait a while to make sure the fork lives up to its name.

Thank you for sharing this @tradewonk, I don't know how I missed it to be honest as I usually stay update with coins I'm invested in!

I think that Litecoin has a great future, and that LitePay will really stand testament to that. While I can understand why people would want to for Litecoin, it is such a big player in the industry with such a great team that I would rather see people contributing to growing LTC.

The problem with mass adoption is that it generally takes the big industry players and assets that have been around for a long time. For that reason, I would much prefer to support LTC, as I think it has a higher chance of mass adoption.

Thanks again for sharing this, I would really appreciate your feedback on my latest post!

Thanks a lot for pointing this out @tradewonk, I was warned about this and I do not see a reason why Litecoin needs to be forked if its a better version of Bitcoin. Great post and upvoted! :)

Just a way to make quick money and nothing else. Litecoin has been doing fine since segwit, and i happily use at my main transfer coin because it's much cheaper and quicker than Bitcoin is. Any LitcoinCash that I end up with will be thrown on the market at a reasonable price and the profit will be used to buy more Litecoin.

Is it new crypto coin @tradewonk? Just heard about this.

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Yes but according to the founder of litecoin, is litecoin cash a scam.

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@tradewonk, maybe it's a scam for real? I can't imagine Lee jeopardazing his own project (LCC in this case)

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I think it is a scam

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He does not like them calling it Litecoin anything, but the fact is that they are creating a fork off of Litecoin and every litecoin wallet will receive 10 LCC for each LTC. It might be a tad unreasonable for Charlie to begrudge them the use of the word Litecoin. However, unlike bitcoin cash, LCC is by people who have no connection whatsoever to the Litecoin project. The BCH fork was a over a genuine disagreement between the Bitcoin developers about how to move forward, so maybe Charlie has a point.

I totally agree, make sure you do not give these jokers a private key that has anything on it except their coin. No whitepaper even, come on!

When you want to earn money on somebody else's success than you use it's name and add something on it. Maybe they will be successful like Bitcoin cash but I thin that BCH is only working because Roger Ver is promoting it. Litecoin cash doesn't have Ver or Jihan Wu so I don't see success...

Nice post, like to see news being covered helps to educate the community. In order to grow world adoption we need to weed out the malicious companies.

Noooo. Fuck this nonsense.

Sounds like a scam as he says great post i will follow you for more of this great post if you would follow me that would be great thanks

that's good news to hear new crypto coin Litecoin Cash by charlie .. :)
thankyOu for update!!!

so many divorced these cryptocurrencies. horrors!) for every taste!)

haha. at least a sensible tweet from charlie Lee.

hmm whast does this mean

very useful information @tradework. upvote and resteemed

Anyone else read the title as litecoin crash? i had to double take for a sec

I've written a #Steemit guide on how to safely claim your Litecoin Cash from the upcoming fork, without putting your #litecoin balance at risk

Would appreciate if you share and comment on it guys.

How to safely and securely claim your Litecoin Cash from the upcoming fork

I don't even think it would be worth it to use SHA256 with it . In case if LCC does get popular it only would increase the price of the mining hardware -> making it less profitable.

thanks for sharing im going in litecoin soon

All forks can be a good news, but it's really curious to do a SHA256 fork when the litecoin is NOT a SHA256.....
In same time it's not april fool day!!!!

According to him, "some forks you hear about, a scam that tries to confuse you think it is related to litecoin".

That menas it's a scam crypto coin?

Not everyone knows everything, but everyone knows something, and it is that something that the majority want to know; so I guess it's just say what you know and see if the majority want to know it.

Great Post to learn litecoin , Thank you very much to your excellent post!

This is just a money grab. We dont need another version of litecoin. Its completly unnecesarry.

So I'm even rather confused litecoin had come a long way who is rather saying it's a scam?

another version of shitty coin before the real coin dies out

2.5 mins? you might as well use physical cash transactions at that point

LitecoinCash can be update version of Litecoin that includes more feautures :)

LTC was a fork of BTC back in the day though. Charlie created it as a joke almost but then realized there was real good tech to what he did. And it took off. People called LTC a BTC scam fork back in the day too. I know because I have been involved in cryptocurrency long enough to rember this. Ironic aye!

Looks like a pump a dump coin. This one is not listed on coinmarket, but you'll find 4 different coins calling themselves litecoin*.

I guess these kind of schemes make the devs richer quickly. Thanks for posting @tradewonk

@tradewonk i wish this currency proves to be top notched

I am not sure whether or not this will be a huge and effective scam.

Let's just say: As long as there is no white paper, I'll call it a scam.
But I'll happily be convinced otherwise!

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I think Litecoin cash is a very good Coin, Lightning capable he is also TOP. However, Litepal (cooperation with PayPal) will arrive even better and accepted, we will see. What do you think? by

I like Charlie and all but as long as nothing fishy is going on (asking for private key etc) I'm still claiming my 10/1 LTC.

Crypto Currency are here to stay.... but easy money it is not! Some think they could just throw some money into some penny coins, Hodl ( hold on for dear life) and becomes a millionaire in a year. But, easy money promises are often a scam. If you can weed out the scams in crypto your success is almost assured. Slow and easy wins the race, like the hare and turtle. The turtle wins by determination. If you not willing to hold the coins for at least a year, probably should not buy it.75DB2525-B977-4357-9338-3031CC17489F.jpeg

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we go the safe way: create new wallet, put on ltc private key ready put LTC back on the old wallet and if there is Litecoin Cash gives this claimen, if not we are on the safe side;)

Hrm.... Even if legit, it strikes me as nothing more than "keep up with the Joneses" (ie, Bitcoin.)

Isn't "more transaction-ready than Bitcoin" the use case for Litecoin period? If so, then why the fork? Other than keep up with the Joneses?

I hope Litecoin does not have to go thru the fork MADNESS Bitcoin has gone thru!

Roger Ver...the man behind the curtain. Judas.

So would it be possible to mine with a CPU or GPU?

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