Upcoming Litecoin "Fork" - Litecoin Cash
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If you haven't heard by now, there is going to be a Litecoin fork coming up very soon at block 1371111 which is expected to happen on 18 February 2018 at 1925h UTC time.
Everyone who possesses Litecoin (LTC) at the time of the fork will be able to claim Litecoin Cash (LCC) at a ration of 10 LCC for every 1 LTC. The promise of free coins has helped pushed up the price of Litecoin from approximately USD 150 to more than USD 230 before settling at the current price of USD 215-220.
Despite its nomenclature, Litecoin Cash does not have the same kind of clout and history behind it as BitcoinCash. Litecoin Cash also has no ties whatsoever with Litecoin other than the decision to fork off of the existing Litecoin blockchain.
While heralded as a Litecoin fork, LCC was only announced on the BitcoinTalk Forum on 3 February 2018 and can be considered a brand new altcoin instead of an authentic Litecoin fork which would be expected to have some form of support from the current Litecoin community and miners. Unfortunately, that is not the case.
Litecoin Cash hopes to provide a cheap and fast alternative for legacy SHA256 miners who no longer find Bitcoin mining to be profitable in this time and age.
The LCC team has also promised a fair launch with a small premine of less than 1% for their development fund. A bootstrap will also be available for download prior to the start of mining to prevent anyone from getting a head start on the others. In addition, block rewards will start at 1.25 LCC and increase gradually over 400 blocks to 250 LCC.
In preparation for the fork, consolidate all your Litecoin into a wallet where you have control of the private keys. Once the fork has taken place at block 1371111 (you can check the current block at BlockCypher), move your Litecoin to a new wallet before exporting the private key of your old wallet.
Keep the private key somewhere safe. Once the official LCC wallets are released, you can claim your LCC by importing the private key into the wallet.
Coin swaps will be available for TradeSatoshi and Mercatox.
Gentle reminder:
Always empty your wallet before using your private key to claim forked coins.
Only use official websites or wallets.
Beware of scams or phishing attempts.
Follow me on @cgrave
Always empty your wallet before using your private key to claim forked coins.
Only use official websites or wallets.
Beware of scams or phishing attempts.
Any way to mine LCC on a windows rig?
You might want to join the discord channel or check out their website. Links are at the top of my post.
You can download the LCC wallet and bootstrap from their website and start mining on any of the pools they have listed there.
Cool, I must have a look, I'm all in on Monero at present but with the upcoming PoW Change I may have to swap off to another coin while the miner software is reworked.
Thanks for getting back to me.
Glad I could be of help :)