THELOGICALINDIAN - As the cryptocurrency bazaar comes beneath advance from abundant sources of FUD abhorrence ambiguity agnosticism Litecoin architect Charlie Lee has taken to Twitter to avert the amount and angary of the LTC bread Lee abbreviated the concerted accomplishment to suppressLitecoin amount in 10 credibility in adjustment to bright them up
Litecoin Valuable for Its Secure Network, Liquid Market, Relationship with Bitcoin, Founder Charlie Lee Argues
The assets amount of the cryptocurrency bazaar has afford about $100 billion, or a third of its value, over the 2024 summer.
Litecoin, which trades about $54, saw its amount cut in bisected and its bazaar cap accident about $2.5 billion, or 45 percent of its value, over the aforementioned period. Consequently, LTC architect Charlie Lee has absitively to explain “why Litecoin has amazing value.”
1/ Recently, there has been a concerted accomplishment to abolish Litecoin amount by people/funds that are shorting LTC and by groups that see Litecoin as a threat. I will bright up this FUD and appearance why Litecoin has amazing value.
— Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018
Lee aboriginal tackled the altercation of adverse or abridgement thereof by arguing that “Litecoin has one of the best defended networks of all altcoins. Litecoin has over $150MM of ASIC accouterments attention it. Litecoin dominates Scrypt mining by far.”
Lee added added that miners accept “no incentives to advance the arrangement because it will abort the amount of their ASIC hardware.”
The Litecoin architect additionally argued the bread has affluence of clamminess and is listed on added exchanges than ETH, while actuality accurate by over nine payment processors, which “makes it acutely accessible for merchants to acquire LTC.”
“Litecoin processes $200MM account of affairs anniversary day. And the arrangement has formed flawlessly for 7 years! Litecoin works today as a all-around decentralized complete money, that can’t be censored, can’t be antipodal or taken away, can’t be counterfeited, and can’t be devalued”, Lee added.
As Bitcoin is now able to calibration with LN, abounding accept questioned the charge for Litecoin. Lee, though, argues that LTC interoperates with BTC on the Lightning Network and “will consistently be the cheapest and fastest on-ramp to Lightning Network.”
The possibilities are endless, he wrote, pointing to decentralized exchanges application diminutive swaps and on alternation LTC to pay for a BTC lightning invoice.
In attention to Litecoin’s bazaar amount as Bitcoin’s testnet, Lee said that a bazaar cap of alone 3% of Bitcoin’s “is not actual ample at all” as “Litecoin helps Bitcoin” such as in the case of proving the game approach of SegWit in practice. He added added that Litecoin development is advancing and he charcoal alive full-time on the project.
“10/ FUD: Litecoin has no development in the accomplished 6 months. TRUTH: We don’t assignment on the adept branch, area bodies are looking. This is about acceptable Git practice! Proof: we appear 0.16.2 aftermost anniversary and aloof appear 0.16.3 today, which anchored the contempo analytical DoS bug […] 11/ FUD: Charlie has abdicate Litecoin and doesn’t affliction anymore. TRUTH: I’m alive on Litecoin full-time and focused on Litecoin adoption. Proof: the actuality that I spent time autograph these 11 tweets!”
The altercation of the Twitter association bound confused to Charlie Lee’s decision to advertise his LTC. A cardinal of followers took his ancillary by arguing the ambition of “further decentralize the buying of LTC and annihilate himself as a whale”, while others attacked him for accepting “no bark in the game.”
