Litecoin has always been one of the most stable altcoins, most of which can collapse at any time due to a tweet or comment on the Internet. Altcoins go out of fashion as quickly as they came into it. Recently, there have been suggestions online that the sale of all of his tokens by LTC founder and former Google engineer Charlie Lee could greatly affect the price of Litecoin.
Last year, Litecoin established itself as one of the most stable cryptocurrencies. It offers users faster and cheaper transactions than Bitcoin, which most people view as an investment rather than a means. Over the past year, the price of LTC has increased by 4,700%, which is a record among cryptocurrencies. Unlike the elusive anonymous Satoshi Nakamoto, Litecoin founder Charlie Lee is an Internet celebrity and he is never shy about expressing his opinion, even if it will obviously cause a lot of controversy.
Many Internet users claimed that Charlie used his position to promote LTC, the success of which brings him a huge fortune. Companies like Google, Apple, Facebook are not criticized when they praise their products, but life in the cryptocurrency market seems completely different. In response to such accusations, Charlie sells his Litecoin funds and donates part of the proceeds to charity.
Some believe that this will benefit the digital currency, which may well develop without Lee's participation, while others are inclined to think that such a decision will be fatal for the company.
But Charlie Lee did not abandon his brainchild, he simply turned it into a truly decentralized currency that is not under anyone’s control.
According to http://bitcoinist.com
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