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
Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”
Ethereum [ETH/USD] Price Analysis: Coin stands tall with the bull by its side
SEC could include Bitwise’s Bitcoin ETF in federal registers; proposal under review for approval
XRP, BAT and Dash among the most popular cryptocurrencies for Uphold users
Tron [TRX] Price Analysis: Coin struggles as bear continue to control the market
Ripple/XRP: XRP will soon hit Abra cryptocurrency platform, confirms CEO Bill Barhydt
DigiByte community gears up for Global Summit while founder Jared Tate finalises book on decentralized internet
Tron [TRX]’s Justin Sun sets up Valentines day surprise for Ethereum [ETH]’s Vitalik Buterin
After Bitcoin [BTC] ETF silver lining, SEC puts forth circular on ICOs
Ethereum [ETH] could have been stolen through malware impersonating MetaMask
Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange
Nouriel Roubini says JP Morgan’s cryptocurrency JPM Coin is a joke; compares it to XRP
Ethereum [ETH] mining rewards breach lowest levels ever as average difficulty spikes
Coinbase steps up Bug Bounty program; rewards hacker $30,000 for critical bug detection