[ANN][LCC] Litecoin Cash | SHA256 LTC fork @ block 1371111 | 10:1 claim ratio - page 104.

monsanto

legendary

Activity: 1241

Merit: 1005

..like bright metal on a sullen ground.

Quote from: Skorpion1976 on February 04, 2018, 06:32:44 PM

Quote from: LitecoinCashOfficial on February 04, 2018, 04:15:37 PM

The method coinstash gives is absolutely the right thing to do. Substitute Jaxx etc for Electrum-LTC as your prefer.

And remember the golden rule: NEVER paste private keys that hold any currency into ANY website or wallet in order to claim forked coins (including ours). Practice responsible forking! 1. Wait for the fork; 2. Move your Litecoin to a new address; 3. Use the private key for the "old" address to claim your Litecoin Cash.

*sigh* I am confused now, as I see 2 different HOWTOs. I have LTC in an electrum ledger wallet (NOT the ledger bitcoin app). I also have another - yet empty - electrum wallet, from where - months ago - I moved everything out into the ledger electrum wallet. So from what I have understood, I have to do this:

Move all LTC into non-ledger electrum wallet
Export private keys (Is it ok to export them now, or have I to do this after the fork, when it´s empty again?)
- Wait for fork to happen
- AFTER fork I move LTC back to ledger electrum wallet
  - Create new LCC wallet
  - LCC wallet: Import private keys from non ledger wallet
  Are these the appropriate steps or did I miss something?
  Regarding: "never paste private key in a wallet, which holds currency" --> What would happen, if I let all my LTC stay in the non-ledger wallet, instead of moving it back to the ledger wallet, AND then claim the coins by pasting the key in LCC wallet?

I can see how this is confusing for some people because electrum has a ledger option now. I think you have the right idea though: use the non-ledger (i.e., non-hardware) version of electrum to generate a temporary wallet to hold your LTC for the fork. After the fork, move the LTC out of that non-ledger electrum wallet and back to your ledger wallet. Only then do you extract your LTC private key and import it into the new LCC wallet to claim your LCC. That way you are not exposing the private keys of any account containing LTC.

mirrormirror-otw

newbie

Activity: 8

Merit: 0

Quote from: bitChipper on February 15, 2018, 10:12:44 AM

Quote from: mirrormirror-otw on February 15, 2018, 06:15:58 AM

Quote from: spirali on February 15, 2018, 06:10:31 AM

I plan to hodl my LTC until the fork to get 10x LCC for each LTC. I would change my LTC to another altcoin as soon as the fork happened. So do I need to wait until block 1371112 or can I move my LTC as soon as block 1371111 is discovered ?

you should move your ltc to another wallet some blocks after the fork happened. wait for some blocks more. Then in a new LCC wallet (if any) import your old wallet keys.

Keep in mind that:
a) many people will do this, get their LCC and sell them fast for some other altoicoin, just like you.
b) this means that the price of LCC will drop like a rock.
c) you will probably not be that fast to make any money
d) there is no such thing as free money. forks are like printed fiat money: inflation, not a generation of wealth. Printing money doesn't generate wealth, it only takes wealth from those who have it to those who print it.
e) By the time you do this, the price of LTC will have dropped due to people like you who wanted LTC only for the airdrop, selling their LTC and switching back to the coins they had before the fork.
f) Any money you get from selling your LCC will be far less than the money you will lose from the price drop of LTC. It's a zero sum game.

P.S.: In the good scenario that some exchange will accept and create LCC pairs, if they don't you're left holding the bag.

I agree with most of your points, but I dont think anyone buying litecoin just for the fork will be disappointed if they hold their LTC, this fork is such a different beast then many others in the past. You cant compare this fork to the bitcoin cash fork or any other, its like this fork wave has died off and most people are just kinda like......"meh another fork" when it comes to this one.

I expected there to be atleast one exchange on board at this point...kind of concerning

I'm not sure I understand what you mean. Do you mean that this is a worse fork than bitcoin cash? If so, yeah I totally agree.

bitChipper

sr. member

Activity: 896

Merit: 290

Quote from: mirrormirror-otw on February 15, 2018, 06:15:58 AM

Quote from: spirali on February 15, 2018, 06:10:31 AM

I plan to hodl my LTC until the fork to get 10x LCC for each LTC. I would change my LTC to another altcoin as soon as the fork happened. So do I need to wait until block 1371112 or can I move my LTC as soon as block 1371111 is discovered ?

you should move your ltc to another wallet some blocks after the fork happened. wait for some blocks more. Then in a new LCC wallet (if any) import your old wallet keys.

Keep in mind that:
a) many people will do this, get their LCC and sell them fast for some other altoicoin, just like you.
b) this means that the price of LCC will drop like a rock.
c) you will probably not be that fast to make any money
d) there is no such thing as free money. forks are like printed fiat money: inflation, not a generation of wealth. Printing money doesn't generate wealth, it only takes wealth from those who have it to those who print it.
e) By the time you do this, the price of LTC will have dropped due to people like you who wanted LTC only for the airdrop, selling their LTC and switching back to the coins they had before the fork.
f) Any money you get from selling your LCC will be far less than the money you will lose from the price drop of LTC. It's a zero sum game.

P.S.: In the good scenario that some exchange will accept and create LCC pairs, if they don't you're left holding the bag.

I agree with most of your points, but I dont think anyone buying litecoin just for the fork will be disappointed if they hold their LTC, this fork is such a different beast then many others in the past. You cant compare this fork to the bitcoin cash fork or any other, its like this fork wave has died off and most people are just kinda like......"meh another fork" when it comes to this one.

I expected there to be atleast one exchange on board at this point...kind of concerning

mirrormirror-otw

newbie

Activity: 8

Merit: 0

Quote from: Gurkanc on February 15, 2018, 09:02:05 AM

How can i take lite cash? My ltc on binance. it will be came to binance automaticaly?

i don't want to sound a pessimist, by it's highly unlikely that binance or any other major exchange will list litecoin cash.

TalkBitcoinsCom

newbie

Activity: 94

Merit: 0

Quote from: Gurkanc on February 15, 2018, 09:02:05 AM

How can i take lite cash? My ltc on binance. it will be came to binance automaticaly?

VERY highly doubt Binance or other exchanges will support the LCC fork

I dunno, maybe I'm wrong Undecided

Gurkanc

newbie

Activity: 5

Merit: 0

How can i take lite cash? My ltc on binance. it will be came to binance automaticaly?

rgsnedds

member

Activity: 952

Merit: 17

raskul

Already plugged in the Neptunes!
gimme poooooooooooool!

Grin

spirali

member

Activity: 65

Merit: 61

Thanks for the advises. My plan is just to have LTC "during the fork" so I can get free LCC... In fact, I would change my LTC after the fork (not my LCC that I would get for free anyway). Can you explain why I should wait for some more blocks after 1371111 to change my LTC?

mirrormirror-otw

newbie

Activity: 8

Merit: 0

Quote from: spirali on February 15, 2018, 06:10:31 AM

I plan to hodl my LTC until the fork to get 10x LCC for each LTC. I would change my LTC to another altcoin as soon as the fork happened. So do I need to wait until block 1371112 or can I move my LTC as soon as block 1371111 is discovered ?

you should move your ltc to another wallet some blocks after the fork happened. wait for some blocks more. Then in a new LCC wallet (if any) import your old wallet keys.

Keep in mind that:
a) many people will do this, get their LCC and sell them fast for some other altoicoin, just like you.
b) this means that the price of LCC will drop like a rock.
c) you will probably not be that fast to make any money
d) there is no such thing as free money. forks are like printed fiat money: inflation, not a generation of wealth. Printing money doesn't generate wealth, it only takes wealth from those who have it to those who print it.
e) By the time you do this, the price of LTC will have dropped due to people like you who wanted LTC only for the airdrop, selling their LTC and switching back to the coins they had before the fork.
f) Any money you get from selling your LCC will be far less than the money you will lose from the price drop of LTC. It's a zero sum game.

P.S.: In the good scenario that some exchange will accept and create LCC pairs, if they don't you're left holding the bag.

spirali

member

Activity: 65

Merit: 61

I plan to hodl my LTC until the fork to get 10x LCC for each LTC. I would change my LTC to another altcoin as soon as the fork happened. So do I need to wait until block 1371112 or can I move my LTC as soon as block 1371111 is discovered ?

Fenboy

newbie

Activity: 84

Merit: 0

Quote from: IndzheborgC on February 15, 2018, 05:31:19 AM

On the eve of the fork, the price of the Litecoin(LTC) itself rose sharply: 159 to 232.

Fork isn’t happening until block 1371111, Sun 18th or Mon 19th

mirrormirror-otw

newbie

Activity: 8

Merit: 0

Quote from: Branko on February 15, 2018, 05:30:12 AM

Quote from: mirrormirror-otw on February 15, 2018, 05:03:55 AM

and this probably means that those who were fast to buy for the free airdrop will be dissapointed.

Why, LTC is doing well lately, with possibility for more, because of other news

those who bought for other reasons will probably keep. those who bought for the airdrop will sell, causing the price to drop.

IndzheborgC

newbie

Activity: 140

Merit: 0

On the eve of the fork, the price of the Litecoin(LTC) itself rose sharply: 159 to 232.

Branko

sr. member

Activity: 2632

Merit: 328

Quote from: mirrormirror-otw on February 15, 2018, 05:03:55 AM

and this probably means that those who were fast to buy for the free airdrop will be dissapointed.

Why, LTC is doing well lately, with possibility for more, because of other news

LiGuBi

sr. member

Activity: 316

Merit: 250

Very interesting fork, looking forward to it

abonarea

legendary

Activity: 1526

Merit: 1003

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.

mirrormirror-otw

newbie

Activity: 8

Merit: 0

Quote from: Provablefair on February 15, 2018, 05:07:33 AM

Quote from: ?? on ??

Quote from: mirrormirror-otw on February 15, 2018, 04:49:27 AM

I think no exchange will support lcc. If it were to happen they would have already announced it.

100%

1000% , saw coin after coin all unknow "forked " but on at least 2 - 3 different exchange months prior fork time Huh

has it happened this time ? no ? then all those who bought will run back to sell their purchased before the price drops like a brick.

Provablefair

member

Activity: 155

Merit: 10

Quote from: ?? on ??

Quote from: mirrormirror-otw on February 15, 2018, 04:49:27 AM

I think no exchange will support lcc. If it were to happen they would have already announced it.

100%

1000% , saw coin after coin all unknow "forked " but on at least 2 - 3 different exchange months prior fork time Huh

mirrormirror-otw

newbie

Activity: 8

Merit: 0

and this probably means that those who were fast to buy for the free airdrop will be dissapointed.

mirrormirror-otw

newbie

Activity: 8

Merit: 0

I think no exchange will support lcc. If it were to happen they would have already announced it.

Topic: [ANN][LCC] Litecoin Cash | SHA256 LTC fork @ block 1371111 | 10:1 claim ratio - page 104. (Read 56831 times)