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

Priyamvada Singh

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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.



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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.

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