Litecoin "renamed" BitcoinLite

in CryptoDog4 months ago

After several intense discussions within the Litecoin community, Litecoin decided to conduct a revival marketing campaign-Litecion will be renamed "BitcoinLite".

The April 1st fool is over, but there is still a joke in the encryption field.

Charlie Lee, the founder of Litecoin (LTC), tweeted a "statement" stating that Litecoin will be renamed BitcoinLite, "just as Satoshi Nakamoto hoped."

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Li Qiwei posted a screenshot of a version of the Bitcoin white paper written by Satoshi Nakamoto on Twitter to emphasize the letters "LITE" and attached a link to the official website of the Litecoin Foundation, which has now been renamed the BitcoinLite Foundation. The homepage of the website reads: "Just like Bitcoin", but "Lite’er". The website even provides users with a BitcoinLite wallet. It stated that "BitcoinLite is 4 times more scalable than Bitcoin", transaction costs are higher, and the supply is only 84 million. The website contains the following information:

"After several intense discussions within the Litecoin community, Litecoin decided to conduct a revival marketing campaign-Litecion will be renamed ‘BitcoinLite’."

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The reason behind the name change is that they believe it is an opportunity to catch new investors who have been "confused" by different branches of Bitcoin (including: Bitcoin Cash, Bitcoin SV, and Bitcoin Gold). These investors consider each branch of these versions to be "real Bitcoin." Therefore, the “BitcoinLite Foundation” may gain new fans “that we have been missing before”.

This page outlines a false roadmap, starting with the "takeover" of the Bitcoin domain name and changing information related to that cryptocurrency to BitcoinLite information. However, its announcement also made some "real" observations of Litecoin and emphasized what some members of the crypto community would later call a publicity stunt. The website also declared:

"Thank you very much for the community donation to help achieve this task, because Litecoin unfortunately has not launched an ICO to help pay for everything... Along the way, we have experienced a lot of hardships, but we are very happy to finally come to this step... April 1st mark It’s the beginning of a brand new quarter, and we are now working on it so far."

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Litecoin is on the rise

According to the data from the push, after Li Qiwei’s false statement was released, as of this writing, Litecoin's highest rise is 4.3%, and it is still in an upward trend. Litecoin's current share price is 201.52 US dollars, up 14.9% in the past week.

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Recently, lead developer David Burkett completed the MimbleWimble extension block code. The protocol aims to bring additional privacy and scalability features to the blockchain. However, the price of Litecoin did not clearly benefit from this news.

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