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

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Litecoin

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

Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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