Connect with us

Altcoins

Litecoin [LTC]’s Charlie Lee discusses incentives other than profits to work in the ecosystem

Priyamvada Singh

Published

on

Litecoin [LTC]'s Charlie Lee discusses incentives other than profits to work in the ecosystem
Source: Pixabay

Charlie Lee, the creator of one of the biggest cryptocurrencies in the world, Litecoin [LTC] recently delivered several intriguing answers during an interview with SFOX. In one of the responses, Lee stated that he is not motivated by financial perks to work on the progress of Litecoin. Rather, he sees the cryptocurrency as his child, who he wants to succeed.

In the recently held Litecoin Summit, Lee presented a talk on Litecoin’s ecosystem, covering all the factors, such as crypto-adoption, sound money and selling all his LTC. Here, the computer scientist admitted that he had sold all his LTC at an all-time high. However, the reason for him taking the decision was not to earn profits but to safeguard decentralization within the ecosystem.

According to Lee, there are other ways in which LTC can be supported. On being asked about other incentives that push him to work on Litecoin, he stated that financial gain is not one of the criteria for him to feel motivated anymore. In his words:



“These days, I’m not motivated by financial gains. I’m focused on spending all my time on Litecoin because it’s my baby: I created it, I want to see it succeed, and, if it does well, I get pride, fame, whatever. I’m spending all my time on it, and time is more valuable than money to me. So I’m definitely, really, fully invested in Litecoin’s success.”

Subsequently, the blockchain mastermind revealed that his efforts to build a better ecosystem for Litecoin have become more aggressive after he sold all his coins. Lee also admitted that most of his time used to be spent on Coinbase in the days when he owned Litecoin.

October is a special month for Litecoin as it just passed the 7th anniversary of the creation of its genesis block. On 13th October, the Litecoin network went live.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Bitcoin Cash

Bitcoin Cash [BCH] rolls out iOS version of Bitcoin Cash Register

Rishi Raj

Published

on

Source: Pixabay

Bitcoin Cash [BCH] recently made headlines when the CEO of Bitcoin.com, Roger Ver got involved in a bet of $10,000 with Tone Vays, a popular Bitcoin maximalist which the former lost. After launching a free point-of-scale solution, Bitcoin Cash Register for Android operating systems, Bitcoin.com and its developers have rolled out an iOS version of the same.

Bitcoin Cash register allows anyone with an Android or iOS device to accept BCH payments. This came as a part of the company’s agenda to promote the adoption of crypto in the mainstream. With the installment Bitcoin Cash Register, it would be easier for retailers to accept BCH as payment from customers.



As reported by Bitcoin.com, Bitcoin Cash Register claims to be easy to use without any prior account registration and the transactions are carried out in a non-custodial manner. This was confirmed by Bitcoin.com via a tweet:

The bet between Roger Ver and Tone Vays regarding the low transaction fee had left the social media divided, with proponents on both sides arguing about the authenticity of the bet and factors taken into consideration while betting.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending