{"id":85088,"date":"2018-09-22T00:00:37","date_gmt":"2018-09-22T07:00:37","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=85088"},"modified":"2019-11-07T02:33:12","modified_gmt":"2019-11-07T02:33:12","slug":"litecoin-creator-charlie-lee-debunks-negative-rumors-surrounding-ltc","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/litecoin-creator-charlie-lee-debunks-negative-rumors-surrounding-ltc\/","title":{"rendered":"Litecoin Creator Charlie Lee Debunks Negative Rumors Surrounding LTC"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"https:\/\/cryptoslate.com\/people\/charlie-lee\/\">Charlie Lee<\/a>, inventor and founder of <a href=\"https:\/\/cryptoslate.com\/coins\/litecoin\/\">Litecoin (LTC)<\/a>, took to Twitter earlier this week to debunk some of the FUD (fear, uncertainty and doubt) he\u2019s seen swirling around LTC, himself and his company in a string of 11 tweets breaking down some of the most common negative rumors in the crypto verse. <\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Lee Defends LTC Network, Viability<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Before he started, Lee claimed that\u00a0groups were trying to suppress the value of LTC by shorting it and encouraging others to short it, adding that these groups are attacking his coin because they see LTC as a threat.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Recently, there has been a concerted effort to suppress Litecoin price by people\/funds that are shorting LTC and by groups that see Litecoin as a threat. I will clear up this FUD and show why Litecoin has tremendous value.<\/p>\n<p>&mdash; Charlie Lee [LTC\u26a1] (@SatoshiLite) <a href=\"https:\/\/twitter.com\/SatoshiLite\/status\/1042648815067529217?ref_src=twsrc%5Etfw\">September 20, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Lee claimed that LTC hasn\u2019t lost its edge, and has \u201cone of the most secure networks of all altcoins,\u201d and that the LTC network has millions in ASIC hardware protecting it from malicious attacks or crashes. He added that miners don\u2019t have any incentive to attack LTC\u2019s network because it would destroy the value of their hardware.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">3\/ Miners have no incentives to attack the network because it will destroy the value of their ASIC hardware.<\/p>\n<p>Litecoin has a ton of liquidity, which is important for people to get in\/out of LTC. It is on practically every fiat and crypto exchange (Gemini soon), even more than ETH<\/p>\n<p>&mdash; Charlie Lee [LTC\u26a1] (@SatoshiLite) <a href=\"https:\/\/twitter.com\/SatoshiLite\/status\/1042648816908791808?ref_src=twsrc%5Etfw\">September 20, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Lee further stated the LTC network processes $200 million in transactions per day and has worked \u201cflawlessly\u201d for seven years. He also countered the rumor that LTC isn\u2019t needed anymore because Bitcoin users can get around its prohibitive transaction times using Lightning Network (LN), saying that LTC is still \u201cthe quickest onramp\u201d to LN and even suggesting that users could use LTC to pay for BTC lightning invoices. <\/span><\/p>\n<h2 class=\"p1\">\u2018Charlie Has Quit Litecoin and Doesn\u2019t Care Anymore'<\/h2>\n<p class=\"p1\"><span class=\"s1\">Perhaps the biggest chunk of FUD that Lee addressed was the sale of his LTC as proof of his disenchantment with the currency and its development. According to Lee, nothing could be farther from the truth:<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">11\/ FUD: Charlie has quit Litecoin and doesn&#39;t care anymore.<\/p>\n<p>TRUTH: I&#39;m working on Litecoin full-time and focused on Litecoin adoption. Proof: the fact that I spent time writing these 11 tweets! ?<\/p>\n<p>Litecoin also has the strongest crypto community. <a href=\"https:\/\/twitter.com\/hashtag\/LitecoinFam?src=hash&ref_src=twsrc%5Etfw\">#LitecoinFam<\/a> ?<\/p>\n<p>&mdash; Charlie Lee [LTC\u26a1] (@SatoshiLite) <a href=\"https:\/\/twitter.com\/SatoshiLite\/status\/1042648826027241472?ref_src=twsrc%5Etfw\">September 20, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">He claims to never have stopped work on Litecoin and to be working on it as hard as ever, citing the recent release of <a href=\"https:\/\/blog.litecoin.org\/litecoin-core-v0-16-3-release-cdd7b6f17d11?gi=f69ebe10b04\">version 0.16.3<\/a>, which Litecoin\u2019s official Twitter account announced Wednesday, as proof.<\/span><\/p>\n<figure id=\"attachment_79412\" aria-describedby=\"caption-attachment-79412\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-79412\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/08\/rogerver-charlielee-btc-btccash-litecoin-social-300x158.jpg\" alt=\"Roger Ver and Charlie Lee Discuss Bitcoin, Bitcoin Cash and Litecoin\" width=\"300\" height=\"158\" \/><figcaption id=\"caption-attachment-79412\" class=\"wp-caption-text\">Related: <a href=\"https:\/\/cryptoslate.com\/roger-ver-and-charlie-lee-discuss-bitcoin-bitcoin-cash-and-litecoin\/\">Roger Ver and Charlie Lee Discuss Bitcoin, Bitcoin Cash and Litecoin<\/a><\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\">Lee also addressed selling off all his LTC in the past in <a href=\"https:\/\/cryptoslate.com\/roger-ver-and-charlie-lee-discuss-bitcoin-bitcoin-cash-and-litecoin\/\"><span class=\"s2\">an interview with CNBC<\/span><\/a>, saying that keeping it would\u2019ve been a conflict of interest and that he does not ever plan to buy back the coin.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He assured the Twitter crypto community in his final tweet that he was working on Litecoin full-time and is entirely focused on its adoption. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Earlier this month, the Litecoin Foundation hosted a summit in San Fransisco, Sept. 14-15, welcoming blockchain and cryptocurrency experts with the goal of both fostering wider adoption of cryptocurrencies and finding better ways to scale them.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In the past, Lee also stated that cryptocurrencies <a href=\"https:\/\/cryptoslate.com\/cryptocurrency-adoption-accelerates-litecoin-creator-calls-for-end-to-fiat\/\">have the power to replace fiat currency completely<\/a>\u00a0and appears to take a long view of cryptocurrency development in contrast to the more closely-focused, day-to-day world of market speculation where, ironically, people are focused on \u201cbuying and selling and holding the coin more than using it.\u201d<\/span><\/p>\n<p>Listen to a full interview with Lee on Dashcast\u00a0below.<\/p>\n<p><iframe loading=\"lazy\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/N5Gl45WTsSw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charlie Lee, inventor and founder of Litecoin (LTC), took to Twitter earlier this week to debunk some of the FUD (fear, uncertainty and doubt) he\u2019s seen swirling around LTC, himself and his company in a string of 11 tweets breaking down some of the most common negative rumors in the crypto verse. Lee Defends LTC [&hellip;]<\/p>\n","protected":false},"author":93,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Litecoin Creator Charlie Lee Debunks Negative Rumors Surrounding LTC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/litecoin-creator-charlie-lee-debunks-negative-rumors-surrounding-ltc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Litecoin Creator Charlie Lee Debunks Negative Rumors Surrounding LTC\" \/>\n<meta property=\"og:description\" content=\"Charlie Lee, inventor and founder of Litecoin (LTC), took to Twitter earlier this week to debunk some of the FUD (fear, uncertainty and doubt) he\u2019s seen swirling around LTC, himself and his company in a string of 11 tweets breaking down some of the most common negative rumors in the crypto verse. 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