Litecoin founder Charlie Lee has sold all of his LTC
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Litecoin is an alternative cryptocurrency, and its exponential growth has everyone paying attention. InGoogle employee and MIT grad Charles Lee sought to create a cryptocurrency that Bitcoin investors could get on board with to diversify their portfolios. Today, Coinbase is one of the most widely known and easy-to-use websites for purchasing and storing bitcoins and litecoins.
The major benefit charles lee litecoin price investing in Litecoin over Bitcoin is the transaction speed. Litecoin blocks or transactional histories can be generated four times faster than Bitcoin blocks, which makes buying and selling Litecoin extremely fast. Where there can only be 21 million bitcoins, 84 million litecoins can be mined. In order to mine Litecoin, miners must use a completely different algorithm than Bitcoin, called scrypt.
Because large mining conglomerates cannot easily switch between scrypt and SHA Bitcoin mining techit makes it difficult for miners to maximize profits charles lee litecoin price going back and forth between Litecoin and Bitcoin. To cryptopurists, this is important as it allows for a more decentralized experience.
RT to spread awareness! Satoshi Nakamoto is like Shakespeare: It has been speculated that the Bitcoin creator is anywhere from a group of people to Julian Assange. Creator Charlie Lee caused a stir on Dec. Lee said the decision was charles lee litecoin price in part by criticism of his tweets about Litecoin, which charles lee litecoin price major swaying power in the market.
And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it charles lee litecoin price personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence.
And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general. Lee said he plans to continue working with Litecoin and that this move will allow him better focus his efforts. For more detailed information on how to physically switch your cash to cryptocurrency, check out our explainer on how to invest in Bitcoin.
Buying Litecoin is no different and you should get it in a flash! Claire Downs is a tech reporter who covers the intersection of the internet and pop culture. A third-generation worker in the Chicago futures industry, she specializes in cryptocurrencies and altcoins.
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