Just over a week ago, Litecoin Cash rolled out with great anticipation. The litecoinca.sh group offered 10 LCC for every LTC you had in a private wallet. People jumped on board, buying LTC in anticipation of receiving a 10X windfall, and the LTC price shot up to ~$228 just before the hard fork on February 18th, 2018.
As I mentioned in my earlier post: "LCC's terrible Rollout,"
[ https://steemit.com/litecoincash/@googoomuck/lcc-s-terrible-rollout ] many did not understand the complexities of claiming the LCC, including myself, and missed out. However, going by the price listed on the ONLY exchange of LCC at the time, YoBit.net (YB), it seemed like we'd all missed the boat as we watched the price climb to almost $10. However, over this past week, the truth of Charlie Lee's warning that LCC "It's a scam. Don't fall for it." may have come true.
A few days ago, LCC did finally arrive on two other exchanges; CryptoBridge (CB) and TradeSatoshi (TS), but to drastically different prices than those listed on YB. This is still true at the time of this post. LCC@ CB- $0.61, TS- $0.36, YB- $4.37. Wow, what a difference. Why, you might ask? Well, YB is not allowing new wallets for LCC and has not since right after the fork. So, if you got your LCC into YB, you did very well. If not, you've been left to settle for pennies on the LCC dollar.
I sent an email to YB asking why they were not allowing new LCC wallets and when they will open for new ones. Here's their reply "Dear User! Support answer: The wallet will be available soon (3-4 days)." For this post, I did try again, and received the same error message I'd been getting for a week: "Deposit for such currency is temporary off."
I also sent an email to "Roger," the "PM, Public Relations Lead" at the LCC team to ask about the problems with exchanges, but more importantly, "why the wide price disparity." His reply, "Greetings, It is open market people can buy at any price they want. Regards, Roger"
[Note: I use Roger in quotation marks because of his profile on the litecoinca.sh site. It's a picture of a cartoon unicorn with only the name "Roger"].
I did mine some LCC, about 145 shares, just to see how the mining and trading system would work. The mining was mostly successful. See my earlier post " Testing LCC mining pools"
[ https://steemit.com/litecoincash/@googoomuck/testing-lcc-mining-pools ]
but the trading was an entirely different unicorn. NOT good!
My advice, if you're interested in LCC, wait a month, and see how it shakes out. Right now, you'd be throwing good money after bad. With the the plethora of more established Litecoin fork coins out there, with better reputations, better roll-outs, and community support/enthusiasm, you'll fare much better.
On the other hand, if you have an old Antminer S5 lying around, doing nothing, it will only cost you the electricity to crank it back up to mine some LCC. Although, good luck selling it to pay your electric bill.
I hope this helps. As always, please leave your own experiences, ideas, options, and opinions of LCC. And certainly, please UPVOTE.
Cheers!