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Charlie Lee, founder of Litecoin, said that traders and funds, as well as some interested groups, have recently taken a concerted action in an attempt to put pressure on currency prices.
1 /, c & # 39; was a concerted effort to suppress Litecoin as a threat from people / funds that are short-circuited with LTC and from groups that see Litecoin as a threat. I will clarify this FUD and show why Litecoin has enormous value.
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
"People and funds that open short positions against the LTC, as well as groups that see Litecoin as a threat, have applied coordinated pressure on currency trends and I will try to unmask all this FUD (fear, uncertainty and doubt) on the problem and show why Litecoin is of great value ""Lee wrote.
In his opinion, the Litecoin has lost all its advantages among other altcoins, in his opinion, completely unfounded, as the "digital silver" network is one of the safest and supported by ASIC miners with a total cost of $ 150 million .
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2 / FUD: Litecoin has lost its advantage and can not differentiate itself from hundreds of other altcoins.
TRUTH: Litecoin has one of the safest networks of all altcoins. Litecoin has over $ 150MM of ASIC hardware that protects it. Litecoin dominates the Scrypt extraction by far.
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
Lee is convinced that it is not beneficial for miners to carry out network attacks, as this will lead to the devaluation of their equipment. He also added that Litecoin is one of the most liquid assets, and is therefore on the lists of almost all brokers, and soon the Gemini platform of the Winklevoss brothers will add support to the resource.
3 / Miners have no incentive to attack the network because they will destroy the value of their ASIC hardware.
Litecoin has a lot of liquidity, which is important for people getting in and out of LTC. It is practically every fiat and crypto exchange (soon Gemini), even more than ETH
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
9 cryptonetary processing services support LTC: Aliant Payment, BTCPay, Coinbase, CoinGayments, CoinPayments, Globee, GoCoin, LTCPay and TravelbyBit. Lee is confident that this makes trader interaction with the asset extremely convenient.
Every day, the network processes transactions for a total of $ 200 million and moreover, Litecoin has been operating for seven years.
4 / Litecoin is supported by more than 9 payment processors: Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globee, GoCoin LTCPay and TravelbyBit. This makes it very easy for merchants to accept LTC. There are too many LTC merchants to count! #PayWithLitecoin
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
Some community members believe that LTC has lost value due to the Lightning Network protocol, launched on the main Bitcoin network.
5 / Litecoin processes transactions worth $ 200 million every day. And the network worked perfectly for 7 years!
Litecoin works today as a global decentralized sound money, which can not be censured, can not be canceled or removed, can not be counterfeited and can not be written down. 🚀
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
Lee claims that many Lightning customers support the LTC and that the interaction with Bitcoin takes place via atomic exchanges.
6 / FUD: Litecoin is no longer necessary now that Bitcoin can scale with LN.
Many of the LN clients and apps also support LTC because they see the value of Litecoin. With atomic swaps, LTC interacts with BTC on the Lightning network.
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
He emphasized the "unlimited" possibilities of atomic exchange and submarine technology for payments between the main BTC / LTC networks and the Lightning network.
7 / Litecoin will always be the fastest and fastest on the ramp of Lightning Network. And with solutions like submarine swaps, you can use on the LTC chain to pay the BTC flash bill!
We will also have decentralized exchanges using atomic swaps. The possibilities are endless. ⚡
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
The LTC founder noted the crucial role of Litecoin in testing the Segregated Witness protocol in game theory – the Bitcoin test network was not suitable for this purpose, since its native currencies were worthless and the invaders had no incentive to attack the network.
9 / Litecoin helped Bitcoin activate SegWit last year by demonstrating the game theory of SegWit in practice. Bitcoin's Testnet3 can not do that because the testnet3 coins have no value, so there's no incentive for hackers to hack it. Litecoin helps Bitcoin. This is extremely valuable.
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
He also assured the community that he devoted all his time to the development of Litecoin and to the general acceptance of the currency.
11 / FUD: Charlie left Litecoin and he does not care anymore.
TRUTH: I am working full time at Litecoin and focused on the adoption of Litecoin. Demonstration: the fact that I spent time writing these 11 tweets! 😀
Litecoin also has the strongest cryptic community. #LitecoinFam 🚀
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
Chrys is the founder and active writer of BTCSoul. Since he learned of Bitcoin and crypto-coins, he did not stop to discover news. It is currently dedicated to bringing the best content on disruptive technologies to the website.
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