Litecoin Founder: I Have No Plans to Buy Back My Litecoin

[fitload]

Charlie Lee, the founder of Litecoin, stated on CNBC’s Fast Money that cryptocurrencies are currently proving their long-term worth.

Despite the drop, he highlights the fact that cryptocurrencies, specifically Bitcoin and Litecoin, have witnessed significant adoption. Lee believes that the “price will reflect the success of cryptocurrencies” in the future”.

According to Lee, he has no plans to buy back his Litecoins despite the fact that the altcoin is currently trading at $60.

Lee further encouraged developers and enthusiasts to focus on technology and adoption, rather than the volatile price. He said he would like to see more discussions and interest in the development of projects, such as the Lightning Network.

He added that with market prices down, this was the time for people to get their heads together to get things done.

 Read More: https://news.bitzamp.com/litcoin-founder-i-have-no-plans-to-buy-back-my-litecoin/

[fulled]

This statment from Lee make me losing my faith on litcoin, if the founder it self is not want to hold litecoin, im as a investor should not invest too, because i think when founder leaving the project it mean no future for thay coin, and the main sign of founder still supporting the project is hodling the coin itself

[Synvc]

I think like that too, maybe because of the time when litecoin did not have an active market volume for the past year and this year. which makes the founder himself confused

[moonuranus]

Honestly I think Charlie Lee is crazy, why won't he hold his own coins, doesn't he have some faith on his own coin? We assume that litecoin will have no future because of him. But still he is promoting litecoin eventhough is don't hold even a tiny of amount of this coin.

[Zed0X]

The decision to sell his litecoin bags and not buy bag is so unpopular. Many thinks he does not have faith in his own coin.

He probably does not want his holdings to affect his decisions as to the direction of the project. He wants to focus on the development and let the community holders determine the price.

[Sudarmono]

I will continue to invest and buy litecoin because I strongly believe that litecoin still has very good potential, and I believe that buying cheap prices will bring us huge profits.

[ayatoslaw]

as we see, litecoin is a lightweight version of bitcoin, if bitcoin takes 5 years to become very large, then LTC takes 10 years to be large. Why? seeing the amount of 4x litecoin more supply from BTC must be taken into consideration, that soon, LTC will rise and increase because the number is getting smaller. although this is only speculation, but I'm sure LTC can be a priceless future asset.