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Author Topic: Litecoin cash fork? what does everyone think?  (Read 43 times)
Iwantthesundae
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February 15, 2018, 09:53:48 PM
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I read about how they want your private key from a wallet that is empty just to verify that you had coins at one point after the fork. Once that wallet is used it def can not be used again. They did not say you cant use that wallet again though so maybe they are hoping people will reuse the wallets dow the line and take the coins you deposit back into that wallet?

I'm on the fence and theres a couple of days to go before the fork they are paying out 10 litecoin cash to 1 ltc

thoughts?
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February 15, 2018, 10:21:26 PM
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I read about how they want your private key from a wallet that is empty just to verify that you had coins at one point after the fork. Once that wallet is used it def can not be used again. They did not say you cant use that wallet again though so maybe they are hoping people will reuse the wallets dow the line and take the coins you deposit back into that wallet?

I'm on the fence and theres a couple of days to go before the fork they are paying out 10 litecoin cash to 1 ltc

thoughts?

I think personally this is a garbage coin, and isn't well received or supported.  Most times when forks happen, whales will use the fomo to run up the price and dump it before the block happens so people are stuck waiting while the price plummets on them.  I sold my litecoin yesterday and will buy back after the fork. Charlie himself doesn't support this fork  Heres what he head to say. https://twitter.com/SatoshiLite/status/958170338621145089?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fbitcoinist.com%2Fcharlie-lee-labels-litecoin-cash-scam%2F    If the creator of litecoin himself is saying that this coin is a scam and a waste of time then I tend to agree. 

Iwantthesundae
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February 15, 2018, 10:30:40 PM
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I read about how they want your private key from a wallet that is empty just to verify that you had coins at one point after the fork. Once that wallet is used it def can not be used again. They did not say you cant use that wallet again though so maybe they are hoping people will reuse the wallets dow the line and take the coins you deposit back into that wallet?

I'm on the fence and theres a couple of days to go before the fork they are paying out 10 litecoin cash to 1 ltc

thoughts?

I think personally this is a garbage coin, and isn't well received or supported.  Most times when forks happen, whales will use the fomo to run up the price and dump it before the block happens so people are stuck waiting while the price plummets on them.  I sold my litecoin yesterday and will buy back after the fork. Charlie himself doesn't support this fork  Heres what he head to say. https://twitter.com/SatoshiLite/status/958170338621145089?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fbitcoinist.com%2Fcharlie-lee-labels-litecoin-cash-scam%2F    If the creator of litecoin himself is saying that this coin is a scam and a waste of time then I tend to agree.  

I was thinking that.. everyone gets stuck hodlng the bag as ltc dumps especially since its in a wallet and you have to get it back on the exchange before you can sell, by that time it may already be down. perhaps its a new way to pump a coin up?

on the other side of this though I have read that the bitcoin cash fork was done the same way as this litecoin cash fork so I am on the fence about it


also, if you do recieve the litecoin cash how can you sell it if it is not on any exchange as of yet!?
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February 15, 2018, 11:55:58 PM
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I read about how they want your private key from a wallet that is empty just to verify that you had coins at one point after the fork. Once that wallet is used it def can not be used again. They did not say you cant use that wallet again though so maybe they are hoping people will reuse the wallets dow the line and take the coins you deposit back into that wallet?

I'm on the fence and theres a couple of days to go before the fork they are paying out 10 litecoin cash to 1 ltc

thoughts?

I think personally this is a garbage coin, and isn't well received or supported.  Most times when forks happen, whales will use the fomo to run up the price and dump it before the block happens so people are stuck waiting while the price plummets on them.  I sold my litecoin yesterday and will buy back after the fork. Charlie himself doesn't support this fork  Heres what he head to say. https://twitter.com/SatoshiLite/status/958170338621145089?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fbitcoinist.com%2Fcharlie-lee-labels-litecoin-cash-scam%2F    If the creator of litecoin himself is saying that this coin is a scam and a waste of time then I tend to agree.  

I was thinking that.. everyone gets stuck hodlng the bag as ltc dumps especially since its in a wallet and you have to get it back on the exchange before you can sell, by that time it may already be down. perhaps its a new way to pump a coin up?

on the other side of this though I have read that the bitcoin cash fork was done the same way as this litecoin cash fork so I am on the fence about it


also, if you do recieve the litecoin cash how can you sell it if it is not on any exchange as of yet!?


It absolutely is a way to pump a coin up.. I don't think thats maybe the direct cause of the people who created the fork but whales just love the fork buzzword.. since people will attach to free dividends faster than any other thing.. the problem is its only free if youre willing to wait out the rise.. stay in through the dip and wait for it to rise again.. Check out the disrsuption of Segwit2X for example.. it was cancelled after massively pumping bitcoin then just to be implemented again at a later date..   It was valued in futures at over 1200 dollars.. then is now about 5 bucks  https://coinmarketcap.com/currencies/segwit2x/  The price of the bitcoin cooked in the gains so you don't really gain anything by holding for the fork unless youre a real long time hodler that doesn't care about the position trades or the ups and downs... Basically as a trader you have 3 choices.. you can take the dividend and not have time enough to dump (since most wallets and exchanges youd collect the fork on arent necessarily where youd want to trade anyways).. you could forgo the fork and sell during the initial pump.. or you could hodl for the last possible block before the fork and dump before others beat you to it.  I personally dumped litecoin at 230 because I thought that was as high as it would go, but it could go higher in one last pump before the fork hits, depending on the anticipation (which i think personally will be low).  Bitcoin cash and Bitcoin gold were both decent forks if you held bitcoin for a long time and waited for the price of the forks to pump to optimal pricing, but with each fork the community starts to groan a little more.. whats the point of valuing something so high if you have infinite copies of the same blockchain?  I don't really agree with that statement, but it does make you think.  I'll put some more thought into your comment about pumping the coin up, that certainly would be an interesting approach and would likely be more profitable to the developers over any gains they'd see from the coin at all (if it even gets listed anywhere to sell).

Iwantthesundae
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February 16, 2018, 05:45:40 AM
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It absolutely is a way to pump a coin up.. I don't think thats maybe the direct cause of the people who created the fork but whales just love the fork buzzword.. since people will attach to free dividends faster than any other thing.. the problem is its only free if youre willing to wait out the rise.. stay in through the dip and wait for it to rise again.. Check out the disrsuption of Segwit2X for example.. it was cancelled after massively pumping bitcoin then just to be implemented again at a later date..   It was valued in futures at over 1200 dollars.. then is now about 5 bucks  https://coinmarketcap.com/currencies/segwit2x/  The price of the bitcoin cooked in the gains so you don't really gain anything by holding for the fork unless youre a real long time hodler that doesn't care about the position trades or the ups and downs... Basically as a trader you have 3 choices.. you can take the dividend and not have time enough to dump (since most wallets and exchanges youd collect the fork on arent necessarily where youd want to trade anyways).. you could forgo the fork and sell during the initial pump.. or you could hodl for the last possible block before the fork and dump before others beat you to it.  I personally dumped litecoin at 230 because I thought that was as high as it would go, but it could go higher in one last pump before the fork hits, depending on the anticipation (which i think personally will be low).  Bitcoin cash and Bitcoin gold were both decent forks if you held bitcoin for a long time and waited for the price of the forks to pump to optimal pricing, but with each fork the community starts to groan a little more.. whats the point of valuing something so high if you have infinite copies of the same blockchain?  I don't really agree with that statement, but it does make you think.  I'll put some more thought into your comment about pumping the coin up, that certainly would be an interesting approach and would likely be more profitable to the developers over any gains they'd see from the coin at all (if it even gets listed anywhere to sell).

I thought about dumping my ltc when it hit 231 too but I had bought back in at 236.74 right before this entire dip happened(I was day trading for a week straight and making good clips per day, about $250 a day, at that point ltc was fluctuating form 235-245 maybe even 250ish.. I got stuck in it. if i dumped at 231 and bought back in at 210ish i could have been back in the game and day trading once again... I do have the same thought that ltc may pump one more time and then dip back again so im waiting and watching..

That is definately the catch 22 with this LCC coming into play because of the whole being locked into a wallet when this fork happens.... the thing with charlie lee claiming its a scam raises my eyebrows thugh becaue of course he doesnt want a fork being named after LTC.... but look at BCC it doesnt seem to be a scam but then again bitconnect was around for a while before it got killed. so who knows.. wild west right

I pmd you atrocityx

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February 16, 2018, 07:21:12 AM
 #6

Anyone have any idea if drag'ing out the knc Jupiter is worth doing to mine Litecoin Cash on Feb 19th launch?

it will fork then, but will fork to sha-256...so unclear with change of protocol if difficulty will start from the floor again?

no idea or guess on this is even worth it...but than again after GARLICOIN last week...all things are possible (till they fork again) Smiley

let me know what folk think...worse that happens I break even on firing the old knc jupiters up for heat this winter and nostalgia for a few days/weeks for fun

and funny (likely worthless) litecoin cash FORK money


thoughts?

brad














 

 

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Shutup
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February 16, 2018, 07:38:14 AM
 #7

I read about how they want your private key from a wallet that is empty just to verify that you had coins at one point after the fork. Once that wallet is used it def can not be used again. They did not say you cant use that wallet again though so maybe they are hoping people will reuse the wallets dow the line and take the coins you deposit back into that wallet?

I'm on the fence and theres a couple of days to go before the fork they are paying out 10 litecoin cash to 1 ltc

thoughts?

I heard about fork this coming March but lm happy to heard that because l feel that after fork bitcoin will rise again.Everybody is getting ready for the coming showing of bitcoin models for bitcoin  prosperity. Bitcoin gives us happiness so all people are hoping and beleive in bitcoin that it will give us the best future.So l think fork helps bitcoin to rise up quikly,that will give us hope for the future coming up of bitcoin.

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