[ANN][LCC] Litecoin Cash | SHA256 LTC fork @ block 1371111 | 10:1 claim ratio

[monsanto]

Thank you for the detailed explanation! If it isn't obvious that I'm new to this, it will become evident shortly.  I sincerely appreciate your patience in advance.

I recently purchased some LTC via Coinbase to start learning the process, industry, exchanges, etc. It wasn't motivated by this Litecoin Cash announcement, so this LCC interruption to my learning is a 'deep end of the pool' exercise for me, hoping I don't f*$k it up.

I installed the official Litecoin Core wallet and 'sent' LTC from Coinbase to my LTC Core wallet, and then back to Coinbase. Everything worked and I felt a little more confident that I could still learn stuff. I purchased a little more LTC from Coinbase then moved it to the Coinbase Vault. I don't have access to private keys in the Coinbase Vault but can move it to a wallet after a 48-hour request delay (for security reasons). Based on the recent fork block estimates, I don't have 48 hours available to get my coins moveable before the LCC forks. Are my purchases and movements already in the blockchain sufficient to claim the LCC when it forks or am I screwed? If screwed, then I've learned, I will still have my LTC, and it hopefully won't turn into a missed opportunity to retire early (not that I don't wish all of you the best!  ) Thanks for any input/responses.

You have to get your LTC into an address with private keys you control, so it can sit there during the creation of block 1371111 (you can check here: https://live.blockcypher.com/ltc/).

Unfortunately, yes you are "screwed" if you can't do that, but as you said, consider it a learning experience 

[MARC-KALAAT]

is it an official fork from litecoin dev?

No, and the team has been quite up front about that.

The premine is the only thing that bothers me about this. Depending on how it's used, it might turn out ok. If, as a previous poster posited, they just dump it, then it will go nowhere.

ok thanks for your answer

[moratar]

Hard fork is a scam - says Charlie Lee!
https://cointelegraph.com/news/litecoin-cash-another-bitcoin-bitcoin-cash-saga

Every time real fork is created like BCH it is never created by MAIN team. Fork is created by team - that wants to change/innovate/fix coin that gets changed.
I would be abolutely shocked if LTC main team would be forking LTC. Main team doesn't need to FORK anything becouse they are in charge of blockchain anyway. If they would like to "fork it" they would say - since block 12345678 we are changing this and this, please adopt, ppl not adopting will be use new forked chain. So it is almost impossible for MAIN team to fork their coin, unless they intentionaly want to create 2 coins, as it was with ETH and new ETH/ETC

[FireDemon]

I was reading about this LTC's fork on social media till now as it has been controversial already. But after seeing few posts above where someone raised question of premine of 1% this nailed this fork with this. It has gone before come into existence if that is true. Being first fork of LTC it could see some appreciation but those chances are gone for good now.

[moratar]

The practice of stealing coin names and benefiting from other people's work has become a widely understood convention?

You can't steal something that is free! Because it is free. Does "open source" ring any bell?

[LitecoinCashOfficial]

Hi all, the poor counter exploded! We've put the website into static mode, which means you don't see the dynamic fork countdown, but current estimate is that LTC block 1371111 will happen around 20:45 (UTC), Sunday 18 Feb.

[RealKariverson]

Having LTC in paper cold storage should be fine right? And I can get the LCC later?

[wozzzzz]

i have my litecoin in exodus wallet, will that be ok or does it have to be another wallet??

[Mihawk]

What is the advantage of switching scrypt to sha-256? Also, LCC can't propagate the idea that it's superior to Litecoin, if that is clear, Litecoin Cash, welcome, of course, I'll participate! Will the LCC price be something like $10 to $25?

[rgsnedds]

What is the advantage of switching scrypt to sha-256? Also, LCC can't propagate the idea that it's superior to Litecoin, if that is clear, Litecoin Cash, welcome, of course, I'll participate! Will the LCC price be something like $10 to $25?

I'm not convinced it'll take any hashpower off BTC at all if i'm being honest. I will mine with old tech to get some LCC while the network is quiet but i won't be holding the LCC network up for any length of time... I get free power for my miners so any BTC is profit in my eyes... LCC probably start under $10... more likely under $5... from there it depends on the abilities of the development team and their marketing strategy. Can't see it ever getting anywhere near prices of BitcoinCash.

[hashmandu]

i have my litecoin in exodus wallet, will that be ok or does it have to be another wallet??

https://support.exodus.io/article/86-how-can-i-view-my-private-keys

[RockBar0]

I was reading about this LTC's fork on social media till now as it has been controversial already. But after seeing few posts above where someone raised question of premine of 1% this nailed this fork with this. It has gone before come into existence if that is true. Being first fork of LTC it could see some appreciation but those chances are gone for good now.

Litecoin is a very good and potential altcoin. I am keeping quite a lot of LTC and are waiting to receive the LCC. If LCC had the potential I would also invest in it because I believed in LTC DEV team knowing how to build their crypto cores to thrive.

[monsanto]

Having LTC in paper cold storage should be fine right? And I can get the LCC later?

Yes. Any method works as long as you have the private keys for the address the LTC is in when block 1371111 is created. I think even a ledger nano could be used by re-generating the private key from the seed words (although that would be a really bad method to claim LCC  )

[CryptoJames804]

Thank you for the detailed explanation! If it isn't obvious that I'm new to this, it will become evident shortly.  I sincerely appreciate your patience in advance.

I recently purchased some LTC via Coinbase to start learning the process, industry, exchanges, etc. It wasn't motivated by this Litecoin Cash announcement, so this LCC interruption to my learning is a 'deep end of the pool' exercise for me, hoping I don't f*$k it up.

I installed the official Litecoin Core wallet and 'sent' LTC from Coinbase to my LTC Core wallet, and then back to Coinbase. Everything worked and I felt a little more confident that I could still learn stuff. I purchased a little more LTC from Coinbase then moved it to the Coinbase Vault. I don't have access to private keys in the Coinbase Vault but can move it to a wallet after a 48-hour request delay (for security reasons). Based on the recent fork block estimates, I don't have 48 hours available to get my coins moveable before the LCC forks. Are my purchases and movements already in the blockchain sufficient to claim the LCC when it forks or am I screwed? If screwed, then I've learned, I will still have my LTC, and it hopefully won't turn into a missed opportunity to retire early (not that I don't wish all of you the best!  ) Thanks for any input/responses.

You have to get your LTC into an address with private keys you control, so it can sit there during the creation of block 1371111 (you can check here: https://live.blockcypher.com/ltc/).

Unfortunately, yes you are "screwed" if you can't do that, but as you said, consider it a learning experience 

That makes sense and I will certainly consider it one of those damn learning experience thingys. Thanks so much for the quick reply.

[Searing]

What is the advantage of switching scrypt to sha-256? Also, LCC can't propagate the idea that it's superior to Litecoin, if that is clear, Litecoin Cash, welcome, of course, I'll participate! Will the LCC price be something like $10 to $25?

I'm not convinced it'll take any hashpower off BTC at all if i'm being honest. I will mine with old tech to get some LCC while the network is quiet but i won't be holding the LCC network up for any length of time... I get free power for my miners so any BTC is profit in my eyes... LCC probably start under $10... more likely under $5... from there it depends on the abilities of the development team and their marketing strategy. Can't see it ever getting anywhere near prices of BitcoinCash.

what you tossing up...I'm thinking of tossing up the old 2013 550gh KNC Jupiter Sha-256 ASIC's...for the heck of it....(besides its winter, I can justify it as space heaters)

found the pool (supposedly) https://cryptopool.party/...no idea of the params of setup yet

need (preferably) a paper wallet address method... web wallets tend to go poof on new coin launches (ex. garlicoin but I moved my stuff to paper wallets) (never could get the desktop
version as an example with them to work with windows 10)

so anyway, lets fire the beasts up ....how far have folk gotten on knc Jupiters or knc Neptunes or knc Saturns as examples of stuff that should work for a bit on this launch of LCC...

pm or post here

not a lot of time this LCC goes live on Sunday..so scrambling today..

brad

[paramind22]

What is the advantage of switching scrypt to sha-256? Also, LCC can't propagate the idea that it's superior to Litecoin, if that is clear, Litecoin Cash, welcome, of course, I'll participate! Will the LCC price be something like $10 to $25?

There are a million old ASICS out there, even very small USB ones.  People who are wise know that good habits prolonged, create wealth.  I heat my house partially using old ASICs during the winter.   LTC may be more profitable to mine now because people want to find blocks with smaller blockchain coins, so using Sha256 enables that.

[Angel Di]

The fact that LTC a coin perspective and checked already for years about reliability can already be not discussed probably. But here how many I watch forks, besides profit many also receive heavy losses during a fork. For this purpose there is a lot of reasons, I think always it is necessary to be more attentive. Let's look that the new coin will give.

[akopjpuge]

Finally, I'll wait for this

[x31337]

price will be 2-5$ at the begging?

*beginning

[Biomech]

price will be 2-5$ at the begging?

We have no idea. Technically, it should be about .1 LTC based solely on the 10:1 creation rate, but you just never know.