Part 3: Check Your Litecoin Cash (LCC) Hive Bees
Part 3: Check Your Litecoin Cash (LCC) Hive Bees
What is going on here?
Your Bees are mining for cryptocurrency by validating transactions. This is done using your desktop, phone smart watch or other device.
Bitcoin was supposed to do this but cannot because of centralization.
Litecoin was going to do this but is now mined with ASICs Ethereum was GPU mined previously but now also uses ASICs.
What is a Beekeeper?
Someone who is mining LCC using Bees and their desktop, wallet, phone, watch or pool.
What is Bee Lifecycle?
Bees start out immature then become active and finally expire.
How does it work?
You purchase a mining agent w/LCC and it starts mining for you.
Can you earn profits from this activity?
Yes. If the index is below 100 you most almost certainly find and mint a block. Once the Gashi index goes above 100 then you may not be profitable.
Some experienced users may decide to take risks and purchase with index values between 100-200 or join a Hive mining pool.
Solo mining will continue to be viable as the index drops after bees expire.
How much is the block reward?
Currently 250 LCC.
How much are transaction fees?
0.0004580 LCC
Where do Bee Creation (BCT) fees go?
The coins used to create bees are sent to an unspendable blockchain address. Millions of LCC (minus Community Fund contributions) are expected to be removed from the supply.
Are there proven or tested strategies for this?
Sure. Purchase bees only when the index is below 100 viewing the graph.
Why does your wallet currently display a loss?
The bees are still immature so they are not mining or finding any blocks.
Can I pump and dump Litecoin Cash like every other coin?
No. There currently is no market liquidity so you need to use it.
Spend LCC on services, tip your friends on Discord, purchase goods or content. Develop for the platform if you have coding skills or mine with your computer.
Is there a good place to find out more?
Yes. Join Discord and participate in the discussion.