NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Charlie Lee Addresses FUD on Twitter to Prove Litecoin’s Worth

Ricardo Esteves
Ricardo Esteves
6 years ago
2 mins read
Charlie Lee

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

As the cryptocurrency market comes under attack from numerous sources of FUD (fear, uncertainty, doubt), Litecoin founder Charlie Lee has taken to Twitter to defend the value and legitimacy of the LTC coin. Lee summarized the “concerted effort to suppress Litecoin price” in 10 points in order to clear them up.

Litecoin Valuable for Its Secure Network, Liquid Market, Relationship with Bitcoin, Founder Charlie Lee Argues

The capitalization value of the cryptocurrency market has shed nearly $100 billion, or a third of its value, over the 2018 summer.

Litecoin, which trades around $54, saw its price cut in half and its market cap losing nearly $2.5 billion, or 45 percent of its value, over the same period. Consequently, LTC founder Charlie Lee has decided to explain “why Litecoin has tremendous value.”

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.

— Charlie Lee Ⓜ️🕸️ (@SatoshiLite) September 20, 2018

Lee first tackled the argument of differentiation or lack thereof by arguing that “Litecoin has one of the most secure networks of all altcoins. Litecoin has over $150MM of ASIC hardware protecting it. Litecoin dominates Scrypt mining by far.”

Lee further added that miners have “no incentives to attack the network because it will destroy the value of their ASIC hardware.”

The Litecoin founder also argued the coin has plenty of liquidity and is listed on more exchanges than ETH, while being supported by over nine payment processors, which “makes it extremely easy for merchants to accept LTC.”

“Litecoin processes $200MM worth of transactions each day. And the network has worked flawlessly for 7 years! Litecoin works today as a global decentralized sound money, that can’t be censored, can’t be reversed or taken away, can’t be counterfeited, and can’t be devalued”, Lee added.

As Bitcoin is now able to scale with LN, many have questioned the need for Litecoin. Lee, though, argues that LTC interoperates with BTC on the Lightning Network and “will always be the cheapest and fastest on-ramp to Lightning Network.”

The possibilities are endless, he wrote, pointing to decentralized exchanges using atomic swaps and on chain LTC to pay for a BTC lightning invoice.

In regard to Litecoin’s market value as Bitcoin’s testnet, Lee said that a market cap of only 3% of Bitcoin’s “is not very large at all” as “Litecoin helps Bitcoin” such as in the case of proving the game theory of SegWit in practice. He further added that Litecoin development is ongoing and he remains working full-time on the project.

“10/ FUD: Litecoin has no development in the past 6 months. TRUTH: We don’t work on the master branch, where people are looking. This is generally good Git practice! Proof: we released 0.16.2 last week and just released 0.16.3 today, which fixed the recent critical DoS bug […] 11/ FUD: Charlie has quit Litecoin and doesn’t care anymore. TRUTH: I’m working on Litecoin full-time and focused on Litecoin adoption. Proof: the fact that I spent time writing these 11 tweets!”

The discussion of the Twitter community quickly moved to Charlie Lee’s decision to sell his LTC. A number of followers took his side by arguing the intention of “further decentralize the ownership of LTC and eliminate himself as a whale”, while others attacked him for having “no skin in the game.”

Featured image from Shutterstock.
Tweet123Share196ShareSend
Ricardo Esteves
Ricardo Esteves

Ricardo Esteves

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Litecoin

Litecoin Wobbles Under Pressure: Can It Find Footing Below $87?

Grayhoood, a crypto trader, said on X that Litecoin is currently experiencing a bearish trend, emphasizing the ongoing weakness in...

Godspower Owie 1 month ago
Litecoin

Indecisive Close For Litecoin, But The Real Story Lies In BTC.D’s Next Move

Litecoin (LTC) wrapped up the day with an indecisive close, leaving traders on the edge of their seats. While LTC’s...

Godspower Owie 1 month ago
Litecoin

Market Expert Projects ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Here’s How

The price of Litecoin has been somewhat indecisive this year, and the past week is a prime example of this...

Opeyemi Sule 1 month ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Litecoin

Litecoin Fate Tied To Bitcoin – Will $96 Resistance Crack?

Godspower Owie 1 day ago
Litecoin Surges Past Descending Resistance – Bulls Target $97.10 Level

Litecoin Surges Past Descending Resistance – Bulls Target $97.10 Level

Sebastian Villafuerte 3 days ago
Litecoin

Litecoin Could Be ‘Just Weeks Away’ From Third-Ever Golden Cross — Expert 

Opeyemi Sule 1 week ago

Premium Sponsors

Press Releases

  • XRP срещу Shiba Inu Коя криптовалута има по-голям шанс да създаде милионери

    XRP срещу Shiba Inu: Коя криптовалута...

    37 minutes ago
  • top memecoins

    Những Meme Coin Tiềm Năng Đáng Mua Hiện Nay Với...

    2 hours ago
  • Potential Coins

    Các Đồng Coin Tiềm Năng Mới Nhất: Enfineo...

    2 hours ago
  • 4 Altcoin Hàng Đầu Được Chuyên Gia Dự Đoán...

    3 hours ago
  • mining

    W·Mining integrates innovation and launches a new...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.