Breaking: Charlie Lee (Litecoin creator) says 'trusted source' told him China rumors are false...

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Charlie Lee, best known at the creator of LiteCoin and (formerly of Coinbase) tweeted today that his 'trusted source' for info on China has said the ban is even worse than false rumors of fear, it's an organized conspiracy - spread by those cashing in by shorting the market!

He makes an important point as well - China is so unpredictable, the rumors are easy to believe, and almost impossible to disprove. China doesn't openly debate such issues like we may be used to in America or the UK - they meet behind closed doors and quickly implement whatever they decide.

If true, these last few weeks of extreme volatility will have been for nothing more than a scam, as market manipulators cash in on traders panic.


Author: Ross Davis
San Francisco News Desk

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