MIT graduate and former Google engineer Charlie Lee shared his experiences about Litecoin, which he founded. He said that in the early years of the altcoin project, there was no LTC to pay miners, so he paid from his own wallet to cover it. Making statements about Litecoin’s early years in a long flood, Lee was very candid while sharing why he sold his coins. In short, we take a look at the experiences of a computer genius…
We didn’t even have any LTC to pay miner fees. I had to personally lend my own LTC to Coinbase! I’m really disappointed that we did this launch later.
Charlie Lee says he cares about adaptation
Charlie Lee lists 3 reasons why he sold his LTCs. The first of these; To remove the fear of “Satoshi stash” given to between 980 thousand and 1.1 million BTC in Satoshi Nakamoto’s wallet. It also wants to make Litecoin more decentralized by increasing its circulating supply. Finally, Lee says that instead of being dependent on the LTC price, he wants to adopt Litecoin and its technology, so he sells his LTCs to motivate adoption.
- Eliminate the fear of the “Satoshi stash”
- Making Litecoin more decentralized
- Making Litecoin adaptation my incentive and motivation against LTC price increase
Altcoin LTC’s Coinbase listing process
Meanwhile, Lee said that LTC once had the same trading volume as Ethereum and was not even listed on Coinbase during this period. In the sequel to the flood, Lee was talking about Coinbase and the listing process.
This was the state of crypto trading a month before launch. Litecoin was not a small cryptocurrency. It was the #5 coin with a trading volume that almost matched that of Ethereum, and LTC was not even available on Coinbase. So I was extremely angry and felt a bit underestimated.
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