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Is Facebook About To Adopt Litecoin (LTC)? Here’s What’s Behind The Rumors.

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Back in December, Charlie Lee announced on Reddit that he had offloaded his Litecoin (LTC) holdings, citing a potential conflict of interest between his continued behind-the-scenes and public activity in the space and the future of LTC from a price perspective.

Here’s what he said:

“So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence… or this reason, in the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin.”

The market response was somewhat mixed to the development. Some suggested that his selling out of his position was a signal of a lack of faith in Litcoin’s long-term ability to stand up to some of the emerging coins. Others thought the opposite, suggesting his move was a sensible one and one that would allow Litecoin to develop organically, without the claims that manipulation is rife, as we’ve seen with many other (much talked about) coins over the last few months.

LTC Daily Chart

LTC Daily Chart

This author falls into the latter camp – Lee’s involvement in Litecoin’s growth was a conflict of interest in the purest sense of the phrase, so he had two choices: continue to push for the coin’s growth and sell his stake or back away from Litecoin and hold his stake.

The former, this author believes, is much better for the Litecoin community long term.

Anyway, that’s not the point of this discussion.

Around the same time that Lee sold his LTC stake, Coinbase announced the appointment of a Facebook executive to its board of directors. The executive is David Marcus, vice president of messaging products at Facebook, and his remit is to bring years of experience in building large-scale mobile products.

This spurred a rumor:

Is the conflict of interest that Lee refers to rooted in Facebook’s intentions to take on LTC as an integrated cryptocoin within its platform and if so, did Facebook request that Lee sells his stake so as to remove this CoI ahead of said integration?

Zerohedge put forward this suggestion here.

Since this all happened, Litecoin has had a pretty rough few weeks. Right now, the coin trades for $170 a piece, down nearly 70% on December highs.

The rumors remain in place, however, and, not only are the above factors playing into the suggestion that Facebook is interested in crypto, we actually got word from Zuckerberg himself in his 2018 Facebook mission statement, suggesting that the company will be looking into cryptocurrency and its potential integration with the Facebook ecosystem going forward.

So, is Facebook looking to integrate Litecoin with its platform, and specifically, its mobile messenger platform, near term?

Of course, it’s still all rumors at this point and no one can say for sure. With that said, we’ve seen a conflict of interest sellout from Lee, a Facebook exec (a messenger exec, no less) joining Coinbase (which lists LTC as one of a very select few cryptocurrencies) and Zuckerberg announcing he’s interested in crypto as a key focal point of the social network CEO’s annual address.

And all of this within the space of a few weeks.

We think that there’s more than enough justification for a speculative punt on this development playing out in line with the rumors, given the upside potential for Litecoin if Facebook makes the announcement the LTC community is looking for.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.


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Bitcoin

How Casinos Are Embracing Cryptocurrency

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Digital currencies and blockchain technology have had an immense impact on several industries across the globe. One of the areas where this impact has been very profound is in the gambling sector – which has also been known for embracing the latest technologies. Gaming operators have always been at the frontlines when it comes to trying out new and innovative technologies all in a bid to keep their customers happy and interested.

That said, it was only a matter of time before cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin among many others made their mark in the gambling industry. All of the features that these digital currencies promise are, without a doubt, very desirable features for gamblers across the world.

The result is a mutually beneficial arrangement where digital currencies get the necessary boost to go mainstream while the gaming operators get a front-row seat as the world ushers in the new age of next-generation digital payments. Naturally, there has to be a framework for this and thankfully its already being implemented in both land-based casinos and in online gambling platforms. 

Crypto in Land-Based Casinos

Cryptocurrencies, since their conception, have always been digitized forms of payment. However, nearly everything is digitized nowadays. Still, brick-and-mortar casinos rely greatly on existing systems all…

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Reaching true Bitcoin anonymity through the use of mixers

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There used to be a time when Bitcoin transactions were considered fully-anonymous. Back then, cryptos were only getting started, and Bitcoin was pretty much the only one that was used, apart from a handful of the first altcoins that followed. However, as the crypto industry continued to develop, current blockchain analyzers were created, and it became clear that Bitcoin’s transparency also includes tracking the coins’ movement, even when you are simply withdrawing them from your exchange to your wallet.

This is why it became necessary to use Bitcoin mixers, also known as Bitcoin blenders or Bitcoin tumblers, such as BitMix.biz, in order to reach true anonymity.

What are Bitcoin mixers, and why do you need them?

Bitcoin mixers, as the name suggests, are online services that mix Bitcoins in order to disrupt their traceability.

Let’s say that you have a certain amount of BTC in your wallet on your crypto exchange of choice. With all the exchanges having to follow KYC/AML procedures, that means that you need to verify your identity, so that the exchange — and therefore, the authorities — will know exactly who you are and how much money you earned through trading and investing.

Once you withdraw those coins to your wallet, blockchain analyzers can track the transaction, and so your wallet…

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The Bitcoin Meltdown is Chance to Double Your Bitcoin

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Most of the cryptocurrency holders have never felt a day so bad.

After a blustering day of trading which saw Bitcoin price drop from $7,950 to $3,800, the massacre caused the worst sell-off to set a new 2020 low which not seen since April 2019.

The history of bitcoin only has a day in 2013 to compare a 40% fall, at that time bitcoin once dropped from $266 to $50, that was also a day when despair defeated the belief of bitcoin and almost no one could foresee bitcoin can recover and prices will reach $10,000 in a few years.

“Be fearful when others are greedy and greedy when others are fearful.” This is what Warren Buffett said about stock market and you can see the stock market never dies, it is just rise and fall happen in a different order at different times.

So it is with bitcoin. The bitcoin meltdown is a chance for a few bitcoin traders while the others are running away.

One typical way is to short bitcoin. Futures trading allows traders to make profits out of the future price difference of the derivatives. However, when during horizontal movement of prices, futures trading may gain you fewer profits to cover the possible loss of the margin.

Is there…

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