"Litecoin has tremendous value": Charlie Lee goes on the defensive

20 Sep, 2018
by David Robb
Litecoin has tremendous value: Charlie Lee goes on the defensive

Litecoin founder Charlie Lee has recently taken to Twitter to defend the project he founded against a number of different criticisms. He insisted that the cryptocurrency still had "tremendous value", reiterating its numerous benefits and denying that it had "lost its edge".

Lee has been striking a more defensive tone on social media recently, apparently concerned about the way many in the crypto community are portraying him and his project.

Read more: Litecoin founder Charlie Lee defends himself regarding "bad journalism"

This time, Lee specifically stated that he needed to clear up FUD from "people/funds that are shorting LTC and by groups that see Litecoin as a threat". 

He claimed that LTC is one of the most secure of all altcoins, and has even more liquidity than Ethereum. The network's 7-year history of successful functioning was also offered as an example of how it sets itself apart from most other cryptos.

While many see LTC as almost redundant due to its similarity to Bitcoin and the recent Lightning Network breakthroughs, Lee pointed out that it "will always be the cheapest and fastest on ramp to Lightning Network", and that many clients and apps still see value in Litecoin.

He also addressed recent claims that Litecoin code was no longer being updated, insisting that development work was constantly going on behind-the-scenes, away from the publicy viewable master branch.

Read more: What's going on with Litecoin development?

Finally, the Litecoin founder also felt the need to reassure followers that he was still heavily involved with the project, despite selling off all his holdings at the end of last year. 

Read more: Who is Charlie Lee?

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Read more about: Litecoin (LTC)


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