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Jackson Palmer, known for creating Dogecoin, but not longer involved, responded to the recent news. Specifically, he feels that the revelation that is at least 25% of the supply of Litecoin should be related to more users.
25% of all Litecoin is stored on a single, centralized exchange? Wow. https://t.co/D638eHxUsX
– Jackson Palmer (@ummjackson) December 19, 2018
For those wondering "I know what?", This means that if you were a hacker, 25% of the entire Litecoin money supply ($ 425M worth) would be in the hands of the hacker.
– Jackson Palmer (@ummjackson) December 19, 2018
Using the private keys, decreasing the value of using a cryptocurrency in the first place. PayPal.
– Jackson Palmer (@ummjackson) December 19, 2018
Twitter of course came out in response to this. Some is this a non-issue, others agreed with this problem. Still others seem to be the tip of the iceberg.
It just means that a lot of people have actively purchased #litecoin. It's been about 1 1/2 years since @Coinbase listed $ LTC. Now, that's what the call requests !!
– CoinAxis (@CoinAxis) December 19, 2018
And other 50% Litecoins most likely to be sitting on Binance and few other custodial exchanges. Crypto is still centralized a lot! 🙄 hope non custodial services will become user friendly soon!
– AtomicWallet.io [Jan/3🔑] (@Atomicwallet) December 19, 2018
Hacking is a major concern. Not only for exchanges but also directly as well.
We're doing our best to educate people from hackers.
– Ilir Gashi [LTC⚡] (@Mrilirgashi) December 19, 2018
Even worse! It was actually 60% of the supply that was moved. Either 35% of the supply is in hand of coinbase owners or some friends agreed upon moving at the same day. It could not be a coincidence, right? Https: //t.co/Yi7BQv4Ave
– Lucas de Carvalho Ferreira (@ldecferreira) December 20, 2018
Each user will ultimately have to decide whether or not they have been involved in the case with the LTC supply. However, it is always good if you are actively trading. If any new insights come into the situation, stick with Chepicap for all updates!
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