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Is Charlie Lee Leaving Litecoin (LTC) for the Sake of Decentralization?

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Litecoin has been following up with the latest trend in the market which means that LTC is trading up in the green against the dollar. However, the majority of coins are going up in accordance with the atmosphere in the market, so some coins are performing better than LTC. That is how Litecoin dropped down to the seventh spot on the global coin ranking list from its previous place as the sixth-best currency. Only several weeks before, Litecoin was rated as the fifth-best currency, but EOS pushed it down to the spot number 6 on the global coin ranking list. But, that is not the main news revolving around this digital currency – we are interested in Charlie Lee’s statement that he is eventually going to leave Litecoin.

Is Charlie Lee Leaving Litecoin?

It all started with a rumor that Charlie Lee, the founder of Litecoin, is going to leave his own currency. The conversation with Charlie Lee started off on Twitter, triggered with a question asked by one of the Charlie Lee’s followers on Twitter. The question was: “The rumors are saying that you are leaving LTC, is it true?”

The answer provided by Charlie Lee on this occasion was short and concise, so he said that he is eventually going to leave Litecoin, which confirmed the rumor as a truthful presumption.

When asked about the reason for leaving the coin he founded and is currently still CEO to, he answered that he is eventually going to leave LTC because he believes that Litecoin isn’t able to acquire a status of a completely decentralized asset with him on the head. That means that Charlie Lee is leaving to make sure Litecoin is able to become even more decentralized, which is in the spirit of blockchain technology in the first place.

Even though Litecoin’s CEO confirmed that he is going to leave the team, he kept private the date when he will no longer be a part of Litecoin, so we can only wait for more updates on his departure or feel free to guess when this departure will occur.

Later on, during the Twitter conversation, Charlie Lee said that there is no need to worry because he won’t be leaving Litecoin any time soon, “not today, or tomorrow”, which means that it could happen in ten years from now!

The question about Charlie Lee leaving Litecoin appeared even back in December 2017 when Litecoin’s CEO sold his Litecoin units. Moreover on the subject on how well Litecoin is doing at the current moment, it seems that the overall tone of conversation implicated that he is worried about the recent downfalls LTC has had with dropping from the 5th to taking the 7th place on the global coin ranking list, although Litecoin is trading in the green for quite some time now.

Charlie Lee explained that he is hoping that over time, Litecoin will become more decentralized with the greatest portion of control belonging to the users, which would contribute to the level of decentralization of this digital asset.

For now, it is certain that Charlie Lee is sticking around in order to push Litecoin towards new achievements and technological improvements.

Litecoin and Running Private Nodes

Talking about decentralization of Litecoin, Charlie Lee posted a message that made a pretty neat comparison between private nodes and watches. He stated in this message that running a private node is like having your own watch, which means that you don’t have to ask anyone about the time – you know what time it is.

The same thing is with having private nodes on a decentralized platform – when running private nodes; you don’t need a confirmation from miners when operating with transactions. That is how Charlie Lee reminded everyone in this comparison that all these nodes would be at the same time running together although separate, just like everyone has their own watch but the time remains the same. That means that no one can change the time unless everyone agrees with it.

It seems like this message that Charlie Lee is trying to introduce us to a new vision that would enable Litecoin to become more decentralized with the greater power given to the users of LTC.

In addition to this story, everyone was surprised (mostly in a negative way) when Charlie Lee made a statement about the latest scandal with BCH. Apparently, the founder of Bitcoin Cash, Roger Ver, made people buy BCH making them believe that they were actually buying BTC. There is a lawsuit coming up towards Roger Ver, still potentially. However, Charlie Lee stated that the lawsuit, in this case, is unnecessary because Roger Ver didn’t do anything illegal.

Many Litecoin followers and crypto enthusiasts don’t agree with Charlie Lee on this matter, however, that is not affecting the growth of Litecoin in the market as LTC is trading in the green against the dollar.

How is Litecoin doing at the Current Moment?

Now ranked as the seventh-best currency according to the global coin report, which is actually a defeat for LTC, Litecoin is still trading in the green.

After the latest change in the market, Litecoin has got another raise of 2.07%, on May 3rd.

In addition to rising against the dollar, Litecoin is also rising up against BTC, which means that this coin is doing slightly better than the original coin as it is trading up by 1.21% against Bitcoin.

After the latest change, Litecoin can be purchased at the price of 151.52$ per one unit, which is still away from its record price of around 333$ per one LTC coin.

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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 and read our full disclaimer.

Image courtesy of BTC Keychain via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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