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The Litecoin summit in progress [LTC] has seen many speakers give their views on cryptocurrencies including Charlie Lee, the founder of Litecoin, giving his perspective on industry via live streams.
Charlie Lee went on to say that the main objective of the summit was to clarify much of the FUD [Fear, uncertainty, doubt] surrounding the cryptocurrencies that ward off early adopters. Lee is famous for selling all his Litecoin and making a stir on social media.
He stood firm on his decision saying that he "would suck" if he did not sell. The founder claimed that the reason he sold all his holdings was that Litecoin was doing well at the time, and sales revenue helped him to 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 way and I should look for another job to handle my life."
Lee added that people need to knot their coins and do not sell as soon as the market collapses. This, he said, would allow people to identify market models and make better future investments. He went on to say that his main objective with the development of Litecoin was to make it better than all other currencies by implementing fair policies and allowing them to become a global currency. Charlie said:
"Litecoin has practically fallen on my knees, I am not a great leader, but my only vision was to create something that would have a lasting impact on the market and have fun while I was doing it."
The founder of Litecoin has continued to talk about decentralized environments and the social media aspect of all this. Lee said that with the rapid growth of the cryptosphere, many people approached him to work with Litecoin. For this, his answer was:
"I only tell people to contribute to the best they can, however they can, if they have the central idea of making a global currency, they agree." [19659005] In addition, Lee said that people should use cryptocurrencies as they see fit and not from a written rule book. It is not the price that matters, but the use and adoption that actually determines the success of each cryptocurrency, he added.
He also talked about how 2017 was a time of distraction after all the hardforks and the spectacular cryptocurrency races. Lee's main goal was to ensure that people were aware of how cryptography solves "today's faulty existing fiat money".
