Showing posts with label charlie lee. Show all posts
Showing posts with label charlie lee. Show all posts

Breaking: Charlie Lee (Litecoin's creator) just sold all his Litecoin!

In a surprising post just made to reddit, Charlie Lee has sold all his Litecoin.  He maintains he's more confident than ever in Litecoin's future though, and says he's still fully dedicated. 

Here's how he explained his decision...

Over the past year, I try to stay away from price related tweets, but it’s 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 Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s 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. Don’t worry. I’m 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 Litecoin’s growth.

 Please don’t 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 GDAX’s 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 I’m pumping Bcash for my personal benefit. It seems like I just can’t win.

You can view the post here.
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Author: Mark Pippen
London News Desk

Litecoin is having an impressive October so far, and more surges expected!

In a time when most of the attention given to "established" cryptocurrencies goes towards Bitcoin or Ethereum, and the "hype of the day" goes to whatever ICO is promising the moon, Litecoin often goes unmentioned. But it shouldn't.

This coin really offers the best of both words - it's established, the tech is sound, and it's still at a price accessible to smaller and newer investors with room to grow.

Surging to $60 yesterday and still hovering at $59.87 at the time of this articles publishing - Litecoin has an impressive $164 million trade volume in the last 24hrs.

While like any cryprocurrency, Litecoin has had it's ups and downs, but compare to the others it's been relatively steady lately with small but consistent gains.

Something else is worth noting - Bitcoin investors are using Litecoin as a method to hedge their bet in the case of a BTC price correction. As Bitcoin climbs higher, Litecoin's stability may provide a safety net.

With many speculating hitting $70 or even $90 in the near future, if it's not part of your portfolio now, do some research and strongly consider it.

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Author: Ross Davis
San Francisco News Desk