Charlie Lee, Litecoin Creator: "For Litecoin To Be Fully Decentralized, I May Need To Step Away"
In a YouTube interview with Julian Hosp from TenX, published a couple of days ago, Charlie Lee, creator of Litecoin and former chief of engineering at Coinbase, said that, in order for Litecoin to be truly decentralized, he may eventually need to step away.
The whole interview is just 35 minutes long and I embedded it below, if you want to watch it by yourself:
The most interesting parts, for me, are the ones in which Lee touches the leadership and vision areas of both Bitcoin and Litecoin. While saying the two assets are complementary, he also stresses the differences between them. The fact that Satoshi Nakamato is still an unknown persona allowed for a much bigger and more decentralized community to gather around the Bitcoin concept. If Litecoin would be to walk in the same footsteps, then Lee would eventually have to leave.
If you don't remember, Charlie Lee recently sold all his stack in Litecoin, citing "conflict of interests" reasons.
One notable difference between Litecoin / Bitcoin and STEEM, is that the former are PoW-based and the latter is DPoS-based. DPoS allows, in my opinion, for a larger degree of governance flexibility than PoW, and that may, eventually, increase the overall resilience of the entire ecosystem.
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Vitalk has criticized DPoS quite heavily in one of his latest posts: https://vitalik.ca/general/2018/03/28/plutocracy.html
DPoS blockchain may turn out to be really vulnerable to gov. manipulation as they are a number of ways to blackmail/control the delegates once they're identified in the real world.
I know Vitalik is not very fond of DPoS. I don't think it's perfect also. I just think it's way better than PoW.
So many coins and I think only one will really rise at the end ! That’s my guess.
Honest man!
Well, that's interesting! I always thought that it is a pretty healthy thing that Satoshi Nakamoto is still an unkown persona. Do you imagine what it would happen if Satoshi himself would come right now and say that Bitcoin is the true coin and Bitcoin Cash has no value? Bitcoin Cash would fall harder than ever... At least so I think, because of the centralization :D
How Satoshi Nakamoto managed to remain unknown puzzles me. Power of Anonymity eh?
I like how Charlie kind of turned the interview and asked some good questions.
Looks like Charlie Lee is very smart and is capable of making the right decisions, including the recent sell off of his LTC.
He has a valid point here
What does Charlie actually do for Litecoin? His Github account shows 45 contributions in the past year. He does promote LTC, but he lost credibility after doing what Satoshi didn't: selling all his coins.
Charlie really turned this interview around, it was off to a bit of a shaky start. I cannot stand Julian Hosp, he has really screwed over TenX investors by his unprofessional operation of the TenX project, resulting in exchange delistings and cards that do not work, promises about payouts and so on.
If Julian put in the same kind of effort to ensuring that his own project TenX succeeded as he did promoting himself and doing non-TenX related activities, maybe things would be different.
It's time to realise cryptocurrency and Credit cards are enemies. The former intends to replace the latter. Cards will want to stop it. Hence what happened with all the cancellations.
Interessing , but i lost all my respect to this guy when he sold Ltc !
The other part is he has time to Twitter attack other cryptocurrency. Litecoin isn't something super duper. It was merely changing four parameters of the bitcoin code. Then he got cult status and sold all his coins? Imagine someone doing that again. Plus where did he sell it or sold it for? And donated to where? There's no proof. Why would anyone proclaim to the world, hey I sold all my gold bars to donate to the charity. Look. I'm _______. Just some weird diabolical vibes.