The creator of the cryptocurrency Litecoin Charlie Lee said that lately, traders and funds, as well as some interested groups "had accepted" to put pressure on the quotations of the currency.
He claims that Litecoin has lost all the advantages of an altcoin, in his opinion, they are absolutely unfounded, because the "digital silver" network is one of the most secure and supported by ASIC miners with a total cost of $ 150 million.
Lee is convinced that it is not profitable for miners to make attacks on the network, as this will lead to the depreciation of their equipment. He also added that Litecoin is one of the most liquid altcoin, and is quoted in almost all trades. Soon the platform of Winklevoss's brother, Gemini, will add support for the coin.
9 cryptocurrency processes support LTC: Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globe, GoCoin, LTCPay and TravelbyBit. Lee is sure that this makes the interaction between merchants and assets extremely convenient.
Every day the network handles transactions totaling around $ 200 million. In addition, Litecoin has worked smoothly in the last seven years.
Some community members believe that Litecoin has lost its value, since the main bitcoin network has released Lightning Network.
Lee replies – many Lightning customers support LTC and the interaction with bitcoins is done through atomic exchanges.
He stressed the "infinite" possibilities of atomic exchange and submarine technology for payments between the main BTC / LTC and Lightning Network networks.
Litecoin's role in the test of the Protocol of Segregated Witnesses in the framework of game theory. The bitcoin test network was not suitable for this purpose because its native coins had no value and the attackers had no incentive to attack it.
He assured the community that he was devoting all his time to the development of Litecoin and the mass adoption of the currency.
We will remember, Lee said he did not intend to buy LTC coins again to avoid a conflict of interest.
Previously, he advised all members of the community to buy at least one bitcoin and only then to start working with altcoins.