The creator of Crypto Charlie Lee pushes for the adoption of Litecoin but remains criticized for the sale of his LTC bags

Charlie Lee pushes for the adoption of Litecoin, but remains criticized for selling his coins

Charlie Lee, the founder of Litecoin (LTC), one of the largest cryptocurrencies in the market, aims to expand the adoption of Litecoin worldwide. Although this is something very positive, not only for Litecoin but also for the entire cryptography market, it still receives criticism for selling its LTC coins during the 2017 bull market.

Exactly one year ago, Charlie Lee he wrote about Reddit who donated and sold his LTC. He explained that he did so to avoid conflicts of interest. Some people were accusing him of having short-circuited or influenced The price of Litecoin to its advantage At the same time, he explained that he wanted to focus completely on Litecoin.

Charlie Lee He said during an interview:

"People have lost money and want someone to blame, and they think that for some reason I have privileged information, and it's silly." When I sold, everyone thought he would go for $ 1,000. "

Back in December 2017, when Bitcoin was reaching its all-time high, litecoin it reached $ 358 and dropped to $ 23, the lowest price in more than a year.

Although The founder of Litecoin he explained that he did not sell all his LTC to the maximum historical, people continued to attack him. He sold his coins when the cryptography market was growing and at an average price of about $ 200.

To those who claim to have sold to ATH, I did not actually do it. I sold 3 separate times: 12/8 @ ~ $ 96, 12/11 @ ~ $ 155 and 12/18 @ ~ $ 350. The average price I got was $ 205.

It is no one's business at what price I sold my LTC to, but I got tired of all the "hate" sold to ATH.

– Charlie Lee [LTC⚡] (@SatoshiLite) 17 January 2018

During this year, Litecoin owner he pushed for a wider adoption of the virtual currency which was once the second largest in the market. During a interview with Finance Magnates, Lee said that many people think that having no currency would not be incentivized to work on litecoin. However, he said that this is not true and that he has other motivations rather than just money.

As reported by Bloomberg, BitInfoCharts proves it Litecoin transactions dropped from 200,000 per day up to 20,000 per day. Clearly, this is something related to the bear market that has affected the entire industry during the current year. Indeed, Bitcoin (BTC) e Ethereum (ETH) have also been affected.

From what I know LitePay was working on a Visa card, but he had some problems, which is not surprising given that Visa is hostile to encryption. I guess they worked until the last minute trying to overcome these problems but they did not succeed. It is unfortunate.

– Charlie Lee [LTC⚡] (@SatoshiLite) February 27, 2018

A few days ago, Charlie Lee wrote on Twitter that Litecoin will soon have more than 1,000 merchants accepting payments through Lightning Network (LN). The Lightning network It is one of the most important developments on top of this virtual currency and Bitcoin. I will allow the network to downsize and reduce rates. In addition, users will be able to process microtransactions for less than $ 0.01.

At the time of writing this article, Litecoin is trading at around $ 31 and has a market capitalization of $ 1.88 billion. LTC is currently the ninth largest digital currency.