Charlie Lee, the creator of Litecoin, congratulated himself Vitalik Buterin, Co-founder of Ethereum after writing a tweet asking the community how they would describe the cryptographic space.
On January 6, Charlie Lee set up a survey asking what kind of encrypted enthusiasts were. The options available were Bitcoin Extremist, Bitcoin maximalist, Altcoin maximalist and Nocoiner. The winning option was the maximalist Bitcoin with 48% followed by the maximalist Altcoin with 33%.
Some self-proclaimed maximalists of Bitcoin are actually Bitcoin extremists. They think that all the other coins are scams and will go to zero.
Maximalists think that Bitcoin is and will remain the dominant cryptocurrency, but there is room for the altcoins to exist and even do well.
What are you?
– Charlie Lee [LTC⚡] (@SatoshiLite) 6 January 2019
He explained that the Bitcoin maximalists consider that Bitcoin (BTC) is the best digital currency on the market, but there may also be other coins available. Bitcoin extremists are those who believe that Bitcoin is the only virtual currency that will survive and that all other coins will go to zero. Altcoin maximalists believe that alternative cryptocurrencies are about to increase leaving the Bitcoin behind but without killing it.
A Twitter user named @CryptoN_T wrote that he thought Charlie Lee had more self-respect than what he was showing. Also, he said that Lee followed the same path as Vitalik Buterin, explaining that the first thing to do was to personally attack common sense and then "follow the words of the shitcoin pseudoscience".
I thought Charlie had more respect than me. You simply followed the path of the vitaliks. first comes the personal attack on common sense, then follows the words of order of the pseudo-science shitcoin. Well done @SatoshiLite a new meme was born https://t.co/FZDJtOS8nW
– CryptoNT (@CryptoN_T) 6 January 2019
Vitalik Buterin did not remain silent. He responded to this Tweet by congratulating the creator of Litecoin for following his path. After congratulating him, Buterin asked Lee to go further and move on to a Proof-of-Stake (PoS) consent algorithm. Litecoin (LTC) is currently based on a Proof of Work (PoW) consensus mechanism in which miners confirm transactions and earn rewards.
Ethereum is currently moving towards a comprehensive PoS consensus algorithm to make the network more efficient. As soon as January 16th, Ethereum will experience a new network update via a hard fork called Constantinople. This non-contingent network upgrade will reduce mining premiums from 3 ETH per block to 2 ETHs. This will discourage miners and prepare the network for the next upgrade to a complete test run.
At the moment, Litecoin has no intention of moving towards the PoS. However, there are some suggestions that Charlie Lee could work on some privacy features for Litecoin that could be released in the future.