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Litecoin [LTC]’s Charlie Lee: “It would have sucked if I hadn’t sold”

Akash Anand

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Litecoin [LTC]'s Charlie Lee: "It would have sucked if I hadn't sold"
Source: Unsplash

The ongoing Litecoin [LTC] Summit saw a lot of speakers giving their insights on cryptocurrencies including Charlie Lee, the Founder of Litecoin, giving his perspective on the industry via live stream.

Charlie Lee went on to say that the main aim of the summit was to clear a lot of the FUD [Fear, uncertainty, doubt] that surrounds cryptocurrencies that drives early adopters away. Lee is famous for selling all of his Litecoin and creating a sensation on social media.

He stood firm on his decision by saying that “it would have sucked” if he didn’t sell. The Founder stated that the reason why he sold all of his holdings was that Litecoin was doing well at the time and the revenue he generated from the sales helped him focus fully on the development of Litecoin, rather than splitting his time with Coinbase. He said:

“Thank God I did what I did. Any other route and I would have to look for another job to manage my life.”

Lee further added that people need to hodl their coins and not sell as soon as there is a market crash. This, he said, would also enable people to spot market patterns and make better future investments. He went on to say that his main aim with the development of Litecoin was to make it better than all the other coins by implementing fair policies and enabling it to become a global currency. Charlie stated:

“Litecoin basically just fell into my lap. I am not much of a hardcore leader but my only vision was to make something that would have a lasting impact on the market and have fun while doing it.”

The Founder of Litecoin went on to talk about decentralized environments and the social media aspect of it all. Lee stated that with the rapid growth of the cryptosphere, a lot of people actually approach him to work with Litecoin. To this, his response was:



“I just tell people to contribute the best they can, however they can. If they have the core idea of making it a global currency, I’m good with that.”

Furthermore, Lee stated that people should use cryptocurrencies as they see fit and not by some written rule book. It is not the price that matters, but the usage and adoption that actually determines the success of any cryptocurrency, he added.

He also spoke about how 2017 was a distracting period after all the hardforks and the spectacular bull runs of the cryptocurrency market. Lee’s main focus was to ensure that people are aware of how crypto solves the “flawed existing fiat money of today.”





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1 Comment

1 Comment

  1. Avatar

    Mike Garrison

    September 16, 2018 at 2:54 AM

    I couldn’t agree more. I’m tired of reading posts where people comment about you ruining LTC because you sold. These aren’t sold out on crypto as they say. All the youtubers shilling their system’s and telling hodlers how much they’re losing. Integration is key. Use it as a currency, ok. This constant trading with $?/+ coins for a small profit is not a way to integrate/adopt. When I first got into crypto, LTC is what made sense long term. Is looked like the most usable as a currency replacement. It still looks to be the best. The team has made changes at a methodical pace. Coins that move to quickly, can rebuild to where they can’t go back and make changes. This is a pace,not a race. To many talk about, “not a get rich quick,” but they don’t show it in their actions.

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Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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