I have done some research into Litecoin Cash. Here is my summary for the hard fork being hyped. Litecoin Cash creators have chosen to remain anonymous, there is not a wallet in existence for Litecoin cash, they are offering a 1 to 10 airdrop for actual Litecoin LTC holders, meaning for every 1 Litecoin you own, they will give you 10 Litecoin cash.
However to a Litecoin holders this will sound very very tempting, but buyer beware, there are multiple ways to place the payouts from forked coins and airdropping is only one of those ways. Most in the crypto space will also tell you it is the least safe as well.
Since they are anonymous and have chosen a unsafe method of receiving fork payouts, I do not recommend investing into Litecoin Cash. If you are a Litecoin holder LTC , and you are going to try and receive the Litecoin cash by giving your private keys , then there is only one safe way I can think of.....
1st - start a new litecoin wallet that you will only use for the snap shot of the fork
2nd - a day before the fork date , transfer you litecoins from your permanent wallet to your newly created temporary wallet
3rd - wait 1 day passed the fork date , then transfer all you litecoins back into your permanent wallet that only you know the private keys for.
4th - AFTER you have transfered all your litecoins out of the temporary litecoin wallet, and back to your permanent wallet. Then go to the litecoin cash web page and give them the private keys for your TEMPORARY LITECOIN WALLET ONLY - (do not give them the private keys for your permanent wallet)
5th - based on the fork snapshot date , they will still see your temporary wallet address as the address that possessed the litecoins on the fork date and would reward the temporary wallet with the payouts.
6th - by doing it this way , if they are scamming and try to steal your private keys, then when they go into your temp. wallet it will already be empty and your LTC is safe and sound in your cold storage/ permanent wallet.
I would love to hear what everyone is thinking about Litecoin Cash and would love any new info on this topic ........
Thank you all so much!
Scam!
At this point, I could not agree more, however if we litecoin holders are entitled to additional funds then we would like to claim them safely. So any input on info about LCC would help . Thanks
keep in mind the founder of litecoin does not approve and thinks its a scam
TKS
Greetings
Got a relevant question or opinion into this topic? I am really curious where everyone stands on LCC
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