Charlie Lee - The Litecoins Creator Doing a Trade of a Year
2 days ago Coblee publicly said he sold all his LTC to avoid being called for price manipulation and personal gains when he does a tweet or shares public messages.
Now yesterday we had coins going dow nand BTC dropping 30% today along with loads of blood. Meaning Coblee sold at the very top just day before massacre.
Plot gets more interesting. Rumors say Facebook made him do the sell-off because they plan to integrate some cryptos and LTC will be one of them. The fact supporting this rumor is that one of Facebook executives joined Coinbases directors.
Litecoin Markets
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What else could he say?
Nice ruse/excuse.
I remember reading about it yesterday of how he sold most of them and kept some as souvenirs
Yeah I think it's the physical Litecoins he's holding. They're pretty cool imo
How do you hold physical ltc coins? Like the minted gold/ silver ones?
Haha, there are some collectible physical coins out there with the crypto address etched/printed on the coin. There are also these coins called "kazakus coins" I think, which are physical bitcoins with the private key hologram on them. Pretty neat stuff!
Wow, that's interesting.
I feel like I am one of the rare few who actually follow Charlie's "Magical Crypto Friends" on YouTube. They practically TELL you what to expect.
Not only that, but if you follow all the major game players here and on their LinkedIn, this shouldn't be a shook moment for anyone.
I love the Facebook rumour around Litecoin. Mostly for the fact that the Winklevoss twins own so much Bitcoin and this would be another fuck you to them as Litecoin would surely go parabolic 😂.
Hi ,
Thanks for the great content
well shit that is pretty wild seriously. but I think LTC and other cryptos have a long way to go before being adopted into facebook they cant handle that amount of transactions on top of everything they are currently doing.
litecoin is a shitcoin. even the founder sold his because he knows this
lol, Not true
No offence but Charlie wrote on Reddit explaining his reasoning and also saying that he had no intentions of stepping away from litecoin as a creator. He simply felt like this would be the best way to eliminate some of the FUD that is spread because of his holdings in his company.
Please elaborate.
I know that there are alot of whales in crypto, particularly the early adopters. One rumor being satoshi has 1 million bitcoin. Imagine if he sold just 10% of that, the market would crash to almost nothing, that applies to charlie lee too, some people think he has the power to crash litecoin when ever he feels, which he probably still could through words, but now he can't do it by selling loads- apparently, good arguments for both sides as to if hes honest, personally I think he is
Hey I mean.... it's always the Koreans who pump and dump the market. hehe (I'm just assuming Charlie Lee is Korean here)
He's Chinese-American.
Ah! Thanks for the clarification!
You're welcome. :-)
i think lee was the reason of yesterday, he sold all of his coins :D
Honestly I think he was just being smart anyone who has been in crypto for even a couple months knows that the gains on everything we were seeing was unnatural and had to correct eventually. He called where he wanted to get out and he did it was smart on his part. People are saying he knew something on the inside but I saw this correction coming and I am sure a bunch of others did too.
Quite possible. There was an unhealthy amount of greed and euphoria leading up to past week and we built almost 150 billion of market capitalization in a matter of days. That's quite insane. He may have been what you'd call "smart money" in cashing out, while the public continued its unsustainable bull rally.
No matter the context, a racist remark is still racist. Don't assume someone's race/ nationality. You just come off looking like a douche. Note, before you get your wrench in a twist, I did not call you a douche.
Please. Who exactly was hurt here with that comment? Context is everything, you should never forget that. I want you to take a step back and think about what makes something inherently racist. It's to have a genuine feeling of superiority over another race, to discriminate against them, to be intolerant of them. Have I done any of those things?
And while the friend shield is not the best reasoning, I think it's relevant in this situation. A decent majority of my friends are Chinese or Korean American. Why would I want to discriminate against them? They're great! Far and wide, people have been confusing assumptions with blatant racism, so I think it's important to understand the distinction.
Now sure, assumptions when used with malicious intent can devolve into racism. For instance, "oh look that asian can't drive"... therefore I will not accept this person as my Uber driver. In this instance, you directly discriminated against them and your assumption impacted them negatively by losing driving revenue.
Maybe it was just a smart move, everyone knows markets go down after a huge bull run.
I'm not panicking on LTC, believe in the vision! Coblee seems like a legit human from all i've listened to and seen of his, to be continued. I'd love to see more on the facebook theory.
Its a correction which is happening right now.
Probably coincidence. Any idea on how much he sold?