Litecoin Cash - A Fork Coming Soon !! [crypto-currency]
- One Day at a Tine -
-- Yogi Berra
The recent downturn of the crypto-currency market has not deterred nor swayed away hard core crypto-enthusiasts. In fact, ICO's and even block chain forks continue to take place in the crypto-world. One of the latest forks to be announced is that of Litecoin Cash, which was presented to the crypto-world on February 3rd.
On February 3rd, the team for Litecoin Cash made their announcement official on the Bitcointalk.org forum found here. The fork is scheduled to take place on Monday February 19th, 2018. The time is subject to change but is scheduled to take place when the block 1371111 is found. At this point, holders of Litecoin can claim 10 Litecoin Cash (LCC) for every 1 Litecoin they hold once the fork goes live.
Litecoin Cash appears to have many improvements over Bitcoin and Litecoin. Litecoin Cash will be based on the SHA256 algorithm but with much shorter block times. Block times will be shortened from 10 minutes (Bitcoin) down to about 2.5 minutes on average, speeding up transaction verification times. This will lead to a 90% reduction in transaction fees while increasing transaction throughput. Mining difficulty will be adjusted with the finding of each block, allowing for a smoother mining process when finding blocks and verifying transactions. So far there are no future pricings for LCC, but if we go off Litcoin's price of $160, and holders of LTC will receive 10 LCC for every 1 LTC, that puts each Litecoin Cash coin at around $16 US Dollars. This is just a guess as to what the price will be, but I am sure that as the Fork nears, a price will soon be listed on something like Coinmarketcap.com.
This is not investing or trading advice. This is simply information with relevant links for you to do your own research and diligence.
Stay tuned for more information coming soon!
UPDATE: As of now, it looks like the Fork will take place on late Sunday February 18, but this is not certain yet.
@streetstyle
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Nice post sir.Your correction is almost good.
Thanks for sharing.
ROTFLMAO!
Thanks sir
nice share, crypto never die
This post has resteem
If we unplug the Internet it does have the potential to die! But since we are all addicted to this I'm sure it won't happen anytime soon. If it does happen then it's back to hoarding gold! But right now crypto is like gold in 1848. Get in early before your friends and hoard as much as possible... In 10 years we will get some serious AI robots that will hoard coins too. But singularity still at least 10 years away so still some time left to gain a profit...
in the future we work on screen, meet people on screen and internet as connector.
I believe blockchain will replace bussiness platform..like android and ios
I dont really like forks. People like the free coins but it dilutes the market with another similarly named coin that could confuse new people
Just go and look at coinmarketcap if you want to get more confused. There we can already see these other coins as well! Lol. I'm guessing most of them are troll trying to use the same name to get some people to buy the other coins... All this as you say will confuse people a lot! That's why it's the best to just focus on a few coins and really keep your eyes on them. On the other hand it's very exciting as well that lots of stuff is happening. So much potential!
I had no idea those existed!
Good!! Too many coins in head will make you lose faith in humanity lol! 😹 But we will still make them gains to the moon right. 😼 🚀 Steem Dollar above $5 dollars again! I hope it goes up to that $7 dollar range again! It seems to have a life of it's own! Bitcoin only up 2% so it doesn't follow that coin that much.
I made more from sbd in 2017 than any other coin. Litecoin was number 2
Would be awesome to have some Steem Dollar when it hit 14 dollar or 22 dollar last year. Sort of feel that it will happen sometime again but now people are paranoid about holding that SBD since they know it may be pegged back to 1 dollar again!
Think it will be great for many creators when it hits 1 dollar again to heavily invest then in the platform since many will stop. That will decrease the competition great for opportunists! And will make it calm for a couple of months before the service ramps up again with new attention. Probably when Bitcoin goes on a bull run late 2018!
good to see you and thanx sir for share this update post.upvote and resteemd@streetstyle.
In Jesus name we trust, Amen!
nice post.....
I am hoping that its happens as your saying
I am not really sure what to think about that...but hey free coins
I'm not going to complain about free money but Charlie Lee said to be weary of any fork. So protect your private keys and make sure you're holding them personally.
I am holding both private key and fork personally just to be on the safe side! 😼
pckin classic. :)
That would be a good guess if LTC diluted 10:1. However, a lot of people are using LTC and nobody is using LCC. To estimate the price you would have to find the level of LTC that matches the demand of LCC at launch and divide that price by 10.
Thanks for the smart input @samuel-swinton as I was just assuming this to be more like a stock split, but your response makes much more sense, therefore I imagine LCC being more at $1.60 than $16 as I stated above. Thanks again.
That's a similar proportion of ETH to ETC so you are probably right.
Will this be more of a Bitcoin Cash ie some adoption or will it be like Super Bitcoin or Bitcoin Diamond ie barely even traded?
Hard to say @rulesforrebels but Litecoin itself is gaining more popularity, so this could bode well for LCC.
Yeah sure. Would certainly do my own research.
Forks are great News to Me.
Haven't rally paid attention to Litecoin cash prior to this post. Butbwould surely do and get back to you.
Feels great when we get to read information as vital as this.
Thank you @streetstyle for sharing.
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