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RE: Charlie Lee sells ALL his LTC + Bitcoin Cash scandal

in #dtube7 years ago (edited)

LTC is open source software that can be developed and improved upon by anybody who feels like taking on the task. The network will either accept your update as useful, or reject it. In fact, there's a whole host of developers working on it as we speak. If LTC investors were only in it because of Charlie Lee's development capabilities, then I guess thank God he hasn't been hit by a bus.

Fact of the matter is: crypto is young. Just a baby. As time goes on, more and more developers will commit their time and resources to LTC if the market sees the LTC technology as useful. And in an environment with near-perfect competition, like the crypto space, I'm sure LTC will always be right there, given that it's perfectly suited to solve many of BTC's future challenges.

Too many crypto investors are fickle and over-reactionary. Unfortuntely, I doubt the people who sold even bothered to read his reddit post, explaining his reasoning.

https://www.reddit.com/r/litecoin/comments/7kzw6q/litecoin_price_tweets_and_conflict_of_interest/

None of us can comprehend the type of scrutiny he has been under as the sole litecoin founder. Perhaps this even explains why Bitcoin founder Satoshi Nakamoto has remained anonymous to this day.

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Yours is one of the more thoughtful comments I've read by far today. I've been investing and following crypto since the early days (Mt Gox and pre- litecoin and pre- BitcoinMarket.com) and if there's one thing I've noticed its the extremely over-reactive, near conspiracy theory level crap that so many people spew out once they're invested in anything crypto.

BTC, crypto and internet tokens in general as we know it now aren't anywhere near being the finished products many geeks and 'day traders' make it out to be. The truth is, anyone invested in crypto who isn't producing anything useful or contributing to its existence, e.g. providing services, or writing code is mostly gambling.

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