Topic: Litecash is the first fork of Beam, and it's mineable too  -  What & How? - page 2. (Read 930 times)

What’s been deleted? The old Ann post is still there and if you search the “general” channel in our discord for litebeam it’s all still there. You can still find Jeff and I’s conversations with people about it.

I'm hearing about this for the first time, but I'm pretty sure this is not a scam. I'm bit familiar with your research and work approach

so, what's your opinion now?

the chat about litebeam has deleted by litecash's team

Well, I don't normally post on here but since I was tagged in a screenshot I figured I should.

Is Litecash previously known as Litebeam? Yes. Yes they are. At launch, I was actually not part of the team, I was simply a guy looking for a new coin. Here it is 9 months later and sticking with this project was one of the best decisions I could have made. I got to the project from the old post and read all the comments and didn't feel as bothered by some of the things as others were and went into the discord. What I found was a very new community just getting their feet off the ground and was trying to overcome some decisions that had resulted in some negative comments. Once I got to know the team and saw how things really were, I was hooked. I am not a founding member or anything but I am glad I joined as early as I did.

Now, on to a couple points from before:

Nanty: I am fairly active in the discord and yet I haven't seen you post? I also don't see you in our (very small) ban list. Please feel free to join and post again.

Scam claims: What could be a scam, I still don't understand this? No pre-mine. No "official" pool hosted by us to collect any mining fees. Raising money used to fund things like this Voskcoin article and listing fees on Citex and TradeOgre came from donations from the community and out of pockets of the team, and short of giving exact pricing on what we were charged after negotiations with said companies, we can show that donations that were given were used for that. I would like to know what people's actual concerns are when it comes to it being a scam coin/project?

Anyone who knows me from the Brave/BAT telegram (back before it went read only) and Brave regional managers community knows me and knows that I am fair and honest when it comes to moderating and I don't beat around the bush. I encourage anyone who has questions to join the discord and ask or even PM me specifically. If you don't use discord, feel free to find me in the official BAT group and PM there, just search posts for @SteelReign and click my name on one of the admin posts.

Thanks,
SteelReign



 

that's not good.. I was never familiar with litebeam

I searched litebeam ANN thread, found it, clicked discord link (site inactive now) and it takes you to the litecash discord



searched litebeam and returned these results




and most recently

I think this is scam. https://bitcointalksearch.org/topic/litebeam-scam-fake-team-stealing-peoples-identity-5123249 It looks like re-brand from litebeam. And when i ask them on DISCORD they banned me immediately.

Litecash is the first fork of the mimblewimble privacy purposed coin Beam. If you’d like to learn more about Beam, please review our video guides on it here. https://www.youtube.com/watch?v=oYiojyO5MZI

One thing is immediately obvious when it comes to Litecash, the concept and branding are kept very close to the coin they have forked off of, Beam. For example, the branding, color scheme, and the mimblewimble privacy protocol focus. This can be quickly realized by viewing their wallet fork of Beams and the unchanged colors.


Litecash aims for real-world adoption with merchants through the use of their mobile wallet app. In 2020 Litecash is aiming to become a payment option for several yoga studios and restaurants. Another key difference is that Litecash has removed the development fund % of each block reward that Beam has, which allows more coins to go to the miners of their blockchain.


First, to clarify, this article is entirely about Litecash (CASH) of Lite.Cash. This is not to be confused with Litecash LCH, a scammy failed ICO, in which you can reference their Bitcointalk announcement thread here. https://bitcointalksearch.org/topic/ann-lite-cash-cryptocurrency-asset-better-than-lending-and-staking-2474672

So let’s get to the fun part!


How do you mine Litecash CASH?
It utilizes BeamhashI, which is the original Beam mining algorithm. This means that Nvidia graphics cards will be best for mining Litecash, and AMD graphics cards (following the 2019–2020 mining trend) will not be effective or efficient mining Litecash, although its still possible to mine Litecash with lolminer.


Utilizing the latest version of Gminer, which you can download here -- http://voskco.in/gminerDL -- you’ll be able to mine Litecash with your Nvidia graphics cards, or GPUs. You can mine on Linux or Windows, this tutorial will focus on Windows GPU mining, but the concept is the same for both operating systems. You’ll download the miner, extract the files, and then right click, edit, on a any .bat file. Once you have completed this you will need to enter this into the .bat file.

miner.exe --algo beamhashI --server cash.coinmine.pl:2002 --ssl 1 --user yourlitecashaddresshere.workernamehere

You can simply copy and paste the above, and then swap in your litecashaddress.yourworkername so that you will be credited with your mining rewards, to your wallet address.



Currently, there is only one mining pool for Litecash, Coinmine.pl. You may be wondering about the 34% unknown block distribution, these are blocks being mined by private solo miners.



Give your miner a window of 15 minutes once you have started the mining program and it shows successful mining progress with shares being submitted, then it will show on the mining pool dashboard you are using. You can navigate to your results by simply entering in your wallet address. As shown above, you can see a balance confirmed (from older mining rewards), balance unconfirmed (from newer mining rewards), along with other information like your current hashrate. Your poolside hashrate is what you will be paid off of, via the mining pool. This is true for mining any cryptocurrency.

Very quickly you will notice your mining rewards begin to rise, this is the fun part about mining a smaller, newer, and higher quantity blockchain. It is more gratifying to acquire 100 coins vs 0.0004 of one coin, for example.



Currently, Litecash is only being traded on one cryptocurrency exchange, Citex. Which you can review Litecash BTC trading here - https://trade.citex.co.kr/trade/CASH_BTC This is a newer development, and the volume is currently very low. At the time of this article being researched and written, the normal daily trading volume does not average more than $500 a day.

If you’re looking for more information about Litecash, you should review their official website here -- https://lite.cash/

If you have direct questions for the Litecash team, you should join the official Litecash Discord server here and ask them -- https://discord.gg/ZvDzUvQ
They’re very responsive in their Discord server.

If you’re looking for more information on mining, please ask either in their Discord server or join ours here! -- https://discord.gg/R7q25pT

If you’re looking for more information on mimblewimble such as what it does and why its so interesting, Binance recently published a recent article explaining it in detail. Read the full Binance mimblewimble article here -- https://www.binance.vision/blockchain/what-is-mimblewimble

Thanks for taking the time for reading our article on Litecash, if you’d like to see a video review and guide, please let us know!

Disclaimer
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