Litecoin (LTC) may have had a bad time in recent months, as critics have worked to divide them, but its founder, Charlie Lee, is not taking hits on the ground. Charlie took on Twitter to unleash a storm that caught everyone by surprise – but in a positive sense.
Charlie And Litecoin – State Of Affairs
In his tweets, Charlie tried to dispel the fears and uncertainties surrounding Litecoin and its main characteristics. In recent months, Charlie and the Litecoin platform have become targets for control by various actors in the crypto community. One of the focal points was Charlie's involvement with Litecoin.
Being a fairly strong cryptocurrency, and actually the 7th th largest by market capitalization, Litecoin has had some competition to face, especially during the recent period of bearish sentiment in the general cryptographic market. Charlie claims that the price of LTC was deliberately blocked, adding that the cryptography network was known to be perfect – having worked for 7 cold years without a hitch and managing transactions for almost $ 200 million on a daily basis.
In his tweet-storm, the founder focused on key aspects of the network and included transaction volume, security, payment processors, commissions, mining and LTC platform development . First, he threw a blow to the people and funds he claims he tried to reduce the price of the LTC because they consider it a threat, saying that Litecoin still has great value to offer.
Charlie had a chewing bone with those who think that LTC is no longer unique. He said that with more than $ 150MM of ASIAC hardware installed to protect the network, it is certain that the LTC network is one of the safest in the cryptography industry. He went on to say that the network dominates Scrypt mining, adding that the liquidity of LTC is excellent and that encryption will soon be listed on Gemini. LTC is accepted by many payment processors including BTCPay, CoinGate, GoCoin, TravelbyBit, CoinPayments, LTCPay, Coinbase, Alliant Payment and Globee.
On the Lightning network and the scalability of Bitcoin, Charlie claimed that Litecoin is still needed as it can interoperate with BTC on the Lightning network. He said that LTC actually helps BTC, alluding to last year when LTC demonstrated SegWit's game theory and helped Bitcoin activate it.
To report his online "tweet-speech", Charlie added that LTC is still developing and releasing updates, contrary to the belief of some people who have been dormant for months. He mentioned the DoS bug patch released just a few days ago. He also claimed that LTC has the strongest community in the cryptic world.