There has been a mountain of negativity towards Litecoin Cash over the past week after opening. People wondering if the coin is in fact legitimate or scam. So I will go over a few things to clear up some of the air.
Is LCC a scam? (we can start here)
No, LCC is actually a legitimate coin. With an active development team, as well as an active community. The truth of the matter is, (flack incoming after lol) too many people were angry about the fork itself. Including Lee, who himself banged upon forks.. then turned around at peak, sold off his holdings of LTC, and bought into Nano... which is a fork.
The fact is, there are so many people wanting to see LCC fail and fall deep for one of two reasons. They want to buy in cheap, or they hate the fact that LCC was a sha256 fork of LTC. Yet, you didn't hear these people complain about the free coins they got during fork.
I heard the wallet has malware!
This is completely and 100% NOT true. If you can't even do a simple scan on the wallet and ensure that it's clean before using it. You shouldn't be practicing forking. Also, you can clearly run the wallet through scans and see that it comes up clean. I laugh when I see these messages of malware in the wallet. If you think it not true? Then I say this... show me proof it has malware. That is what I say. I've done numerous scans on everything I use, and anything I download. With today's amount of security problems, one can never be too sure.
What about the development team?
The development team works tirelessly along side the dedicated community. A lot of coins catch hell in the beginning due to being new. A lot, more so depending on where they fork from/with. The development team also even has their premine available to watch. Something not a lot of coin developers will even do. They even had a community meeting with the people, to address some questions that were being asked, and to give information about where the coin is headed. Needless to say, the coin is moving, and rather quick.
Http://www.litecoinca.sh The site has so much information, if people only take the time to read up. With so much hate coming from multiple coin communities it makes one wonder why.
A lot of people have notions that a coin will overnight grow by 50000%. This RARELY, and I do mean RARELY EVER happens. Not to say that it couldn't with any coin at any time. However, as the currency is developed, a lot of changes will happen. You will naturally see dips from people wanting to just dump the coin, instead of holding the coin. Those people can do as they wish, however, may end up kicking themselves pretty hard later on.
Why did price drop so low?
It is only naturally in the early stages to see a lot of dumping of coins, ESPECIALLY after a fork. We have seen it happen so many times. It's funny to see people scream scam yet, provide no evidence as to why it is a scam. (smh) People are too easily manipulated into believing the worst, as so many coins have done the worst.
It's also funny that people compare the price they see on most exchanges to places like yobit. Now, the funny thing about the yobit situation. They were well.. less than professional. They added the coin to the market, without allowing of any deposits. Which feels like something an exchange would do for their own gain, that is until it caught up with the rest of the market. Then they could open wallets and collect big from dumpers waiting.
What is the Dark Gravity Well difficulty about?
Let us see.... well a coin with Dark Gravity Well based difficulty and sha256 that allows for usage of old sha256 gear. What better way to start a coin, then bring use back to old mining gear that has collected dust? Dark gravity well works as so. The difficulty changes based on OVERALL NET HASH POWER. So if the hash power goes down, it adjusts as needed, and same applies for opposite direction.
There are so many advantages to LCC that people are not being told about. So many lies being spread to attempt to kill it. However, with a determined development team, and an amazing community. Good things are surely to come. As with any coin time will tell, look at BCH when they came out. Still to this day they catch all kinds of hate. Yet look at the worth.
People are so ready to pickup that dollar off the floor, and so hesitant to ask who's it was. Far too many people think within a closed box about crypto currencies. A lot of this is due to quite a few bad coins and ERC20 tokens ect. This has given some bad reputation to not just crypto in general but, new coins especially at start. People are assuming the worst case scenario from the beginning. Which isn't necessarily a bad thing, just do the research before making the accusations. Otherwise, you may end up looking rather well... you get the idea.
Over the years since the birth of BTC. I have watched coins come and go. The bad talk come and go as with any coin. I have to say I haven't seen many promising things come out of the crypto world as far as new coins. However, with LCC after doing research and getting to know the people in the community. You would have to be crazy not to want to be involved. But, I guess we are all some type of crazy huh?
What are some things you would like to see take place with LCC? (aside from the hate, be constructive.. not destructive people.) What would you like to see more of with LCC?