Home / Coin Payment / Charlie Lee talks about the LTC rate and dismantles some myths about the currency

Charlie Lee talks about the LTC rate and dismantles some myths about the currency

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.

"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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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.

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.

Some community members believe that LTC has lost value due to the Lightning Network protocol, launched on the main Bitcoin network.

Lee claims that many Lightning customers support the LTC and that the interaction with Bitcoin takes place via atomic exchanges.

He emphasized the "unlimited" possibilities of atomic exchange and submarine technology for payments between the main BTC / LTC networks and the Lightning network.

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.

He also assured the community that he devoted all his time to the development of Litecoin and to the general acceptance of the currency.

Chrys

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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