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 >>
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Litecoin (LTC) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Bitcoin (BTC), Litecoin creation and transfer is based on an open source protocol and is not managed by any central authority. Litecoin is intended by its developers to improve upon Bitcoin, offering several key differences. Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI. As of November 2013, Litecoin had received extended coverage by mainstream media with agencies such as the Wall Street Journal, CNBC and The New York Times citing it as an alternative (or possibly even successor) to Bitcoin. In May 2017, Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second. If you already know basics about Litecoins then you would instantly understand that the amount given by Litecoin Faucet is negligible. You wont spend much time on claiming these rewards even if it is free. So, the majority users of LTC faucets are the beginners who just started trying hands on litecoin or children who cannot legally buy/sell litecoins. Free Litecoins without serious financial expenses When we receive more knowledge about the digital currency and about the possibilities it opens, we want to get some amount Continue reading >>
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