Litecoin (LTC) may have had a rough time over the past few months as critics worked to split airs about it, but its founder, Charlie Lee, isn’t taking the hits lying down. Charlie took to twitter to unleash a storm that took everyone by surprise – but in a good way.
Charlie And Litecoin – State Of Affairs
In his tweets, Charlie sought to dispel fears and uncertainties surround Litecoin and its main features. The recent months have seen Charlie and the Litecoin platform become targets of close scrutiny from various players within the crypto community. One of the points of focus has been Charlie’s involvement with Litecoin.
Being a fairly strong cryptocurrency, and actually the 7th largest by market capitalization, Litecoin has had quite some competition to deal with, especially during the recent period of bearish sentiment in the general crypto market. Charlie claims that LTC’s price has been deliberately been stunted, adding that the crypto’s network has been known to be perfect – having worked for 7 cool years without a hitch and handling close to $200 million worth of transactions on a daily basis.
In his tweet-storm, the founder focused on key aspects of the network, and that included LTC’s transaction volume, security, payment processors, fees, mining, and platform development. First, he threw a jab at people and funds that he claims have been trying to short LTC’s price because they see it as a threat, saying that Litecoin still has great value to offer.
Charlie had a bone to chew with those who think LTC is no longer unique. He said that with more than $150MM of ASIAC hardware installed to protect the network, it’s certain that LTC’s network is one of the most secure in the crypto industry. He went ahead to mention that the network dominates Scrypt mining, adding that LTC’s liquidity is great and that the crypto will soon be listed on Gemini. LTC is accepted by many payment processors including BTCPay, CoinGate, GoCoin, TravelbyBit, CoinPayments, LTCPay, Coinbase, Alliant Payment, and Globee.
About the Lightning Network and Bitcoin’s scalability, Charlie argued that Litecoin is still needed as it can interoperate with BTC on the Lightning Network. He said LTC actually helps BTC, alluding to last year when LTC proved SegWit’s game theory and helped Bitcoin activate it.
To bring his online “tweet-speech” to a head, Charlie added that LTC is still developing and releasing updates, contrary to some people’s belief that it’s been dormant for months. He mentioned the DoS bug patch released just a few days ago. He further argued that LTC has the strongest community in the crypto world.