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Litecoin Creator Charlie Lee Sells Entire Ltc Holding - Business Insider

Litecoin Creator Charlie Lee Sells Entire Ltc Holding - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Business Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our Litecoin founder Charlie Lee said in Reddit post he has sold his entire holding of the cryptocurrency. Lee pins his decision on criticism that his Twitter posts about the currency were attempts at personal enrichment. Lee says he will remain involved in litecoin and cryptocurrencies more broadly. LONDON The creator of one of the largest alternative cryptocurrencies has exited his entire stake in the digital currency, citing a "conflict of interest." Charlie Lee announced in a Reddit post on Wednesday that he had "sold and donated" all of his litecoin holdings over recent days. He said the move was motivated by criticism from people that he was trying to influence the price of litecoin with his tweets. Lee wrote: "Whenever I tweet about Litecoin price or even just good or bad news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is [sic] conflict of interest for me to hold LTC and tweet about it because I have so much influence." Lee, a former Google and Coinbase employee, created litecoin in 2011 as a quicker and cheaper alternative to bitcoin. As of Wednesday morning, it is the fifth largest cryptocurrency with a market capitalization of over $17 billion, according to CoinMarketCap.com . "Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin's success," Lee said in his Reddit post. Lee didn't disclose how many litecoins he had sold at what price but said his actions had not affected the price of the asset. Litecoin is down over 6% against the dollar at 10. Continue reading >>

Charlie Lee [ltc] (@satoshilite) | Twitter

Charlie Lee [ltc] (@satoshilite) | Twitter

This timeline is where youll spend most of your time, getting instant updates about what matters to you. Hover over the profile pic and click the Following button to unfollow any account. When you see a Tweet you love, tap the heart it lets the person who wrote it know you shared the love. The fastest way to share someone elses Tweet with your followers is with a Retweet. Tap the icon to send it instantly. Add your thoughts about any Tweet with a Reply. Find a topic youre passionate about, and jump right in. Get instant insight into what people are talking about now. Follow more accounts to get instant updates about topics you care about. See the latest conversations about any topic instantly. Continue reading >>

Litecoin Founder Sells All His Litecoin But Promises Not To Leave

Litecoin Founder Sells All His Litecoin But Promises Not To Leave

Litecoin Founder Sells All His Litecoin But Promises Not To Leave Charlie Lee, founder of the cryptocurrency Litecoin (LTC) has sold all his LTC, but will devote himself to growing the Litecoin platform Litecoin (LTC) founder Charlie Lee announced today on Reddit and Twitter that he has completely unloaded all his Litecoin holdings via selling and donation. He wrote on Reddit: For the first time in 6+ years, I no longer own a single LTC thats not stored in a physical Litecoin. (I do have a few of those as collectibles.) According to his Reddit post, the amount Lee sold was a small percentage of GDAXs daily volume, and it did not crash the market. Please read the whole post. Reddit thread is here: pic.twitter.com/VoIlA0Xjj3 Charlie Lee [LTC] (@SatoshiLite) December 20, 2017 According to the announcement, Lee decided to sell all of his Litecoin because of the potential for conflict of interest, given the influence his personal statements can have on the coins price. He explained that by selling all his LTC, he can fully separate his own opinions and actions from the performance of the cryptocurrency, stating: whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is a conflict of interest for me to hold LTC and tweet about it because I have so much influence. Lee did give some clue regarding his future, reassuring users that he is in no way abandoning his creation. With his own personal finances stable, he plans to devote himself to Litecoin, and expects to meet with a variety of other rewards beyond the price appreciation of his coins: Dont worry. Im not quitting Litecoin. I will still spend all my time working on Litecoin. When Litecoin succeeds, I will Continue reading >>

First Litepay Now Litepal. Satoshilite's 'big' Announcements Are Falling Like Flies. : Litecoin

First Litepay Now Litepal. Satoshilite's 'big' Announcements Are Falling Like Flies. : Litecoin

SatoshiLite posted today that LitePay was no more. However, there is a more interesting story hidden in the comments regarding LitePal. LitePal, due to launch on March 31st, are touted to be a zero fee merchant processor. Charlie Lee listed them as such in his tweet in February. However, the business registration number (ABN 57 857 821 358) on the bottom of their website (litepal.io) lists them as one Edin Jusupovic, a sole/trader operating from a residential address in Sydney (link below). Like most scam websites, the links to the Privacy Policy and Terms lead nowhere. It then transpires that Edin, who used to operate under dasace.com, is a 21 year old with a history of selling cyphers (malware) on hacker forums and the dark web. He can be found on twitter at @oasace (one letter different from his previous web address.) Here is a link to the tweet which has a pic with the accusation: For SatoshiLite to say in his tweet today that he will be doing better due diligence on his associations in the future and then a few minutes later claim LitePal are doing good work is somewhat farcical. So, Im taking bets. What percentage of the rest of Charlie Lee's list will also fail or prove to be scams? Continue reading >>

The Founder Of Litecoin Says He No Longer Owns Any Litecoin

The Founder Of Litecoin Says He No Longer Owns Any Litecoin

The Founder of Litecoin Says He No Longer Owns Any Litecoin Currently the fifth most valuable cryptocurrency, Litecoin has enjoyed a massive surge of late: While a single Litecoin traded for approximately $4 in March, theyre now listed at over $300 a piece. But in a surprise move, the coins founder Charlie Lee announced in a Reddit post early this morning that he had divested his entire stake in Litecoin (except for a few physical Litecoin collectibles), citing an effective conflict of interest. [W]henever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence, Lee, who was also an early engineering hire for crypto trading platform Coinbase, wrote on r/litecoin. For this reason, in the past days, I have sold and donated all my LTC. The crypto space is replete with shady founders developing altcoins that include a considerable preminea scheme in which a large portion of coins are ceded to founders and early investors from the get-go, leading to disproportionate influence and the potential for pump and dump schemes. This makes Lees choice to not only walk away from his stake in Litecoin, but to do so publicly, an unusual one. Lee declined to specify the amount of Litecoin he had held previouslya figure hes been cagey about in forum posts for years. Without an announcement prior to sale or providing a means for other speculators to look up his transaction record on Litecoins ledger, some in r/litecoin are worried. Coin creator sells all of his coins after price shoots up in the last 2 weeks and you guys are on here acting like he is some kind of hero, one user wrote. Anoth Continue reading >>

Litecoin.com - Open Source P2p Digital Currency

Litecoin.com - Open Source P2p Digital Currency

Litecoin Core v0.14.2 released! This is an important update, all users are advised to upgrade SegWit & CSV activation imminent. All users, especially miners and exchanges are advised to upgrade to 0.13.2 ASAP! SegWit has activated on testnet! If you mine on testnet and haven't upgraded, please do so ASAP! Release info here: Litecoin Core v0.13.2 released! This is an important update, all users, especially miners are advised to upgrade In response to CVE-2015-7547, several Litecoin infrastructure related sites will be undergoing brief maintenance over the next 24-48hrs. Litecoin Core v0.10.4.0 released! This is an important update, all users, especially miners are advised to upgrade Litecoin Core v0.10.4.0 RC. Important update, please test thoroughly as this will likely be the actual release. Litecoin Core v0.10.2.2 released. This is a critical update, all users, especially miners MUST upgrade ASAP RT @SatoshiLite : Litecoin debit card!!! RT @SatoshiLite : I love the fact that @CNBCFastMoney is covering Bitcoin/Litecoin every day now. So much mainstream exposure. @novogratz p RT @coinyeezy : the family is getting some Litecoin this year for the holidays love the reactions when I try to explain what it is !! RT @SatoshiLite : Very exciting if true, but to be honest, I can't imagine they would do this anytime soon. RT @kickmofoass : Move over, bitcoin. Here comes litecoin - CNNMoney @SatoshiLite @LTCFoundation @LiteCoinNews RT @TheRealXinxi : Litecoins number of tweets per day just surpassed Ethereum. Continue reading >>

Litepay Ceasing All Operations With Litecoin - Cryptocurrency

Litepay Ceasing All Operations With Litecoin - Cryptocurrency

LitePay ceasing all operations with LiteCoin We wanted to inform you that a couple of days ago, the Litecoin Foundation was contacted by Kenneth Asare, CEO of LitePay, informing us that he has ceased all operations and is preparing to sell the company. Prior to that, the foundation had approached Kenneth regarding his less than transparent nature with the company and to express our, and the communitys, concerns regarding his recent Reddit AMA. It was at this time that Kenneth asked the foundation for more funds to continue operations. The foundation refused any further funding as he was unable to provide a satisfactory picture of where the money had been spent and refused to go into exact details about the company and show objective evidence to back up his statements. We are greatly disheartened that this saga has ended in this way and we apologize for not doing enough due diligence that could have uncovered some of these issues earlier. We are currently working hard to tighten our due diligence practices and ensure that this does not happen again. Litecoin was doing perfectly fine before the promise of LitePay and will continue to do so. The ecosystem is far bigger than one company and is continually growing with support from many others with market ready products joining the space and fulfilling their promises to make it easier for the world to use Litecoin. In the end, this is a valuable lesson for us to have learned. Litecoin and our community is as strong as it has ever been and we look forward to many great things to come. Thank you for your continuous support! Literally the whole market is down ever since it peaked though. I used to be psyched about Nano. Still think it has a future. Currently I feel quite meh about everything. Like I have my crypto portfolio an Continue reading >>

Sec Warns Investors As Price Of Bitcoin, Ethereum, Litecoin Soars - Cbs News

Sec Warns Investors As Price Of Bitcoin, Ethereum, Litecoin Soars - Cbs News

Online traffic to the Chicago Board Options Exchange's website is surging , mirroring the growing public interest in bitcoin and the digital currency's skyrocketing price. The price of January bitcoin futures, which the exchange started trading this weekend , fell $245, or 1.3 percent, on Tuesday to $18,300, highlighting the cryptocurrency's extreme volatility. Such contracts let investors speculate on bitcoin by allowing them to lock in a price to sell the agreement at a future date. Bitcoin's price has soared more than 1,600 percent in 2017, and as of early afternoon was at $17,285, according to Coindesk. Other digital currencies have seen an even bigger jump in price. Ethereum has risen more than 6,100 percent this year to $636.49, while Litecoin has soared more than 9,000 percent. A growing number of companies also are raising funds through "initial coin offerings," or ICOs, complete with celebrity endorsements ranging from boxing legend Floyd Mayweather to Hollywood star Jamie Foxx . The startling run-up in prices for cryptocurrencies, which remain largely unregulated, has the Securities and Exchange Commission on its guard. The agency's chairman, Jay Clayton, is advising potential investors on to exercise caution. "Investors should understand that to date no initial coin offerings have been registered with the SEC," he said in a statement Monday on the agency's website. "The SEC also has not to date approved for listing and trading any exchange-traded products (such as ETFs) holding cryptocurrencies or other assets related to cryptocurrencies." "If any person today tells you otherwise, be especially wary," Clayton added. Anyone thinking of investing in an ICO or buying digital currency should ask a number of questions, according to the SEC. These include: Continue reading >>

Litecoin Price, Tweets, And Conflict Of Interest : Litecoin

Litecoin Price, Tweets, And Conflict Of Interest : Litecoin

Over the past year, I try to stay away from price related tweets, but its hard because price is such an important aspect of Litecoin growth. And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general. For this reason, in the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoins success. For the first time in 6+ years, I no longer own a single LTC thats not stored in a physical Litecoin. (I do have a few of those as collectibles.) This is definitely a weird feeling, but also somehow refreshing. Dont worry. Im not quitting Litecoin. I will still spend all my time working on Litecoin. When Litecoin succeeds, I will still be rewarded in lots of different ways, just not directly via ownership of coins. I now believe this is the best way for me to continue to oversee Litecoins growth. Please dont ask me how many coins I sold or at what price. I can tell you that the amount of coins was a small percentage of GDAXs daily volume and it did not crash the market. UPDATE: I wrote the above before the recent Bcash on GDAX/Coinbase fiasco. As you can see, some people even think Im pumping Bcash for my personal benefit. It seems like I just cant win. Continue reading >>

Coinbase Insider Trading: Litecoinedition

Coinbase Insider Trading: Litecoinedition

Coinbase is conducting an investigation into unusual trading activity that preceded its distribution of Bitcoin Cash onfortune.com Problem 1: Charlie Lee was an employee of Coinbase when Coinbase added Litecoin, a crypto-currency he created by simply copying Bitcoin and changing the name and adjusting a few variables and a hash function taken scrypt from another crypto-currency. Problem 2: Charlie Lee likely had significant holdings of Litecoin while he worked for Coinbase, and therefore may have asked many times for Coinbase to add Litecoin. Being an engineer at Coinbase, he may also be responsible for implementing the code to add Litecoin to Coinbase. Problem 3: The Litecoin community was essentially dead prior to being listed on Coinbase, on reddit. The only people who wanted Litecoin listed, were people hodling their Litecoins, and presumably, Charlie Lee. Litecoin Markets subreddit on March 2017 . Nobody wasposting. Charlie Lee kept promising Coinbase will add Litecoin on the Litecoin Telegram. Uploaded April 12th, 2017 Source ( Archive ) In my opinion, theres a conflict of interest going on between Coinbase, and the creator of Litecoin, Charlie Lee. Out of all of the other crypto-currencies they could add, they add the one with a practically dead reddit community and no transaction activity? Heres a chart showing the transactions involving Litecoin. Nobody used it. Even after GDAX added it, nobody cared about it. Segwit Upgrade was not a legitimate catalyst for Litecoin pricerising. Litecoin was not running into any of the capacity limits, and in fact, Litecoin effectively has a 4MB block size already. In my opinion, the SegWit upgrade was simply being copy and pasted from Bitcoin Core, into Litecoin, in order to drum up demand for Litecoins, as part of a pump an Continue reading >>

Cryptocurrency Litecoin Falls 10% After Payments Processor 'litepay' Closes; 'we Got Too Excited,' Coin Founder Says

Cryptocurrency Litecoin Falls 10% After Payments Processor 'litepay' Closes; 'we Got Too Excited,' Coin Founder Says

Litecoin drops after popular payments processor closes Litecoin dropped Monday after news that payments processor LitePay has ceased operations, prompting an apology from the coin's founder for promoting the start-up. The cryptocurrency traded roughly 10 percent lower near $145 as of 4:08 p.m. ET, according to CoinMarketCap. Litecoin is down about 28.5 percent for the month and 37.5 percent for the year so far. Litecoin rallied in mid-February , partly due to LitePay's announcement that its merchant payment processing system for litecoin would go live on Feb. 26. But in an email to customers on March 5, LitePay said it is still "checking all perspective merchants" and is holding off on card registrations "due to the negative perception and drastic actions card issuers have towards cryptocurrency companies." The company has not sent out an update since. On Monday, the Litecoin Foundation, a nonprofit for advancing litecoin and an investor in LitePay, said on its website that LitePay CEO Kenneth Asare informed the organization a "couple days ago" that "he has ceased all operations and is preparing to sell the company." Here's why litecoin is the latest cryptocurrency to split The foundation said it refused Asare's request for further funding after a Reddit "Ask me anything" session on March 16 raised questions about how the funds were being used. "Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs," litecoin creator Charlie Lee said in a tweet. "I am sorry for having hyped up this company and vow to do better due diligence in the future." Continue reading >>

Don't Trust, Verify: A Word On Supporting Litecoin Businesses And Applications : Litecoin

Don't Trust, Verify: A Word On Supporting Litecoin Businesses And Applications : Litecoin

by ecurrencyhodler Litecoin Educator - announcement Many of you were skeptical about Litepay. You were right. It's time we got back to the fundamentals of blockchain. The point of a blockchain is to remove trust in a transaction. You don't need a 3rd party to confirm whether your transaction went through. In this way blockchain tech is a peer to peer currency. The reason for this is that trust can be easily built, leveraged, abused, and manipulated. We now urge people to question everything. Don't take news at face value. As for the Litecoin Foundation, its employees, or its volunteers, every business we retweet is not an endorsement nor an indication that we have thoroughly reviewed their business model. We're just excited about different people adding LTC support. But we will also be more cautious about what we retweet. If litecoin were a business, we would micromanage every part of this. But as it is an open-sourced project, anyone body can build on top of Litecoin. Unfortunately, this may include bad actors sometimes. So please be cautious, wary, and think critically. It is much better to verify the legitimacy of businesses yourselves rather than to trust our word on it. edit1: This post isnt in regards to Litepay as it was a unique and unfortunate situation that the LF invested in. Also, this was not written with Litepal in mind. But the following information is relevant. First of all, I wanted to thank u/Mogwai56 for first bringing this to my attention. Also another LTC supporte (retracted by request) from twitter helped me a lot. I do not enjoy sharing this information. But I feel like I must in good faith towards the community. Here is proof tying edin to the hacker profile Cod3ing. It is a cease and desist letter from Edin to a Glen D. Pearl to stop using vari Continue reading >>

Litecoin

Litecoin

use the following search parameters to narrow your results: include (or exclude) results marked as NSFW Visit the offical litecoin website at litecoin.com Contribute and learn more here litecoin.info Watch a quick litecoin video to learn more Report and downvote scams instead of just responding to them ANYTHING PRICE RELATED that isn't a news article: /r/LitecoinMarkets Do not post methods to accept crypto/money/etc unless someone explicitly asks you. Merchants are welcome to advertise new services, or the acceptance of Litecoin on their service. After the first ad, providers are welcome to use reddit's advertising platform to continue to promote the service. Continue reading >>

Ethereum Vs Bitcoin: Does Ethereum Have The Potential To Overtake Bitcoin? (bitcoin Ethereum Predictions 2018) Ethereum Bitcoin Comparison Tue Mar 27

Ethereum Vs Bitcoin: Does Ethereum Have The Potential To Overtake Bitcoin? (bitcoin Ethereum Predictions 2018) Ethereum Bitcoin Comparison Tue Mar 27

Ethereum vs Bitcoin: Does Ethereum have the potential to overtake Bitcoin? (Bitcoin Ethereum Predictions 2018) Ethereum Bitcoin Comparison Tue Mar 27 In the last few months, Bitcoin has lost value consistently. However, it has risen more than 1000% in the last 12 to 16 months. On the other hand, when youre looking at Ethereum, it is just down 20% or so from its peak. It has also risen more than 1000% in the last 14 to 16 months. This is one of the reasons why investors are actually looking to invest in Ethereum as well. Many investors are trying to find out whether Ethereum can actually overtake Bitcoin. READ ALSO: Bitcoin Price Predictions 2018: How high can Bitcoin price go in 2018? Up to $1 million or down to $100? (In-Depth Analysis) Davos conference was one of the prime venues where the cryptocurrency discussion actually took place. Most of the larger company heads are intrigued about the sudden rise of cryptocurrencies. This is one of the main reasons why it was the topic of discussion there. JPMorgan Executive summary of cryptocurrency: 1. Cryptocurrencies are unlikely to disappear, here to stay. 2. Cryptocurrencies are the face of blockchain (echoing similar sentiment as CFTC chairman: cannot seperate blockchain from cryptocurrency. SEE ALSO: Ethereum price predictions 2018: How high can Ethereum go? - ETH Price Today - Tue Mar 27 It is not like people are already considering Ethereum to be a worthy successor of Bitcoin. There are many opposing voices as well. The problem is that Bitcoin is the pioneer in the cryptocurrency market. On the other hand, when youre comparing the cryptocurrencies on the basis of application, you would realize that Ethereum has a much stronger application. This is one of the main reasons why investors are thinking that Ethereum would Continue reading >>

Time To Go Bargain Hunting In Bitcoin, Ripple, Litecoin And Other Cryptocurrencies?

Time To Go Bargain Hunting In Bitcoin, Ripple, Litecoin And Other Cryptocurrencies?

Time To Go Bargain Hunting In Bitcoin, Ripple, Litecoin And Other Cryptocurrencies? Opinions expressed by Forbes Contributors are their own. Cryptocurrency markets have been in a sharp and broad correction recently, which has turned into a crash for most listed currencies. For obvious reasons: rising government regulations, hacking and the tightening of liquidity by major banks to mention a few. But with many currencies trading anywhere from 60% to 80% below their all-time highs, and the advance/decline ratio improving, the time may be ripe to go bargain hunting. Source:Coinmarketcap.com, 2/6/18 13, 4:30 p.m. Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks Source: Coinmarketcap.com 2/7/18 at 9:30 a.m. Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks Source: Coinmarketcap.com 2/5/18 at 2:30 p.m. [Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don't own any cryptocoins or tokens.] Bargain hunting in assets that have been sold off by fleeing investors can make you a great deal of money provided that you pick up thefallenangels: assets with strong fundamentals that have the potential to survive the market storm and rise again. Bargain hunting can lose you plenty of money, too. If you end up picking upfallingangels: assets with weak fundamentals that are unable to survive the market turmoil, and are crashingback to earth. How can you separate fallen from falling angels? Thats certainly a difficult task for a couple of reasons. One of them is psychology. Most investors would find it hard to rise over the gloom and doom of the present and look over the hills of the future. Another reason Continue reading >>

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