Litecoin Cash?: It’s Coming, and It’s Completely Bizarre
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.
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.
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?
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.
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
Is the debit card available worldwide? - I couldn't find a list of countries on their website...
Yes, "Visa-compatible LitePay card which will be supported worldwide"
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.
What are your thoughts on the next cryptos for Coinbase to offer?
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.
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.
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.
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!
Yes but according to the founder of litecoin, is litecoin cash a scam.
@tradewonk, maybe it's a scam for real? I can't imagine Lee jeopardazing his own project (LCC in this case)
I think it is a scam
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.
@tradewonk do you know fork's date? Thanks.