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?
Charlie just induced big correction of the market.. big deal ;)
Regardless of what caused it, I'm sure we can all agree that the correction was needed. It made the markets a little healthier and sets everything up for a great 2018. New ATHs are coming our way!
Hopefully this
True. I always have more confidence in the market growth after a correction. It's like it has a more solid ground to build upon.
Charlie knows what he's doing. I wish I would be more like Charlie
yeah he knows when to dump a shitcoin thats for sure
LItecoin is not a shit coin, Charlie have a motive but the public cant know the full story.
but bitcoin still controls the price of cryptos, when bitcoin falls other follow.
It's an uneducated market which is still ruled by FUD .
Bitcoin's dominance on the market went from 65% 1 month ago to 44% today. Says it all
FUD is needed to create this high volatility and that means huge gains for some.
we are for a wild ride. Each application has atleast 10 crypto companies pursuing it.hard to pick and choose winners at this stage just like in 1997 you couldn't say IE will topple netscape or google will topple yahoo.I guess u need to make bets, get in and out based on data you receive
90% will fail and its very likely we are holding future Netscape's and we just don't know it yet.
in my oppinion it was rather easy to see google will make the race among the search engines, cause the others where not userfriendly at all !!!!!!!!
the same today at the cryptos: IOTA will win - imo thats for sure..
lg
and the problem with that is?
i dont think i have said anywhere theres a problem ;)
don't take it wrong.
I'm not being critical of you.
it's just the way I talk
I don't think the reason he stated publicly is the only reason why he sold all of his. It mainly has something to do with the recent prices of litecoin. It's sky-high right now and Lee knows that, he also know that it will be very hard to go any higher because litecoin doesn't have any other intrinsic value. Litecoin is bitcoin lite period. Sure it has faster transactions but there are far better alts when it comes to transacting rapidly (like raiblocks for example, I will clever this in my next steemit blog post stay tuned!).
Do you think Steem would be one of them? Since Steem is the defacto currency for content creation and content curation I think it would be a good candidate for integration with Facebook.
@kingscrown which coin do you think have a better shot at integration with facebook steemit or reddcoin?
Why would they make him do that?
And does that mean Facebook is now competing with steemit?
It makes sense, what he wrote. But it's also such a coincidence that he sold right before the cryptos dipped.
If that hadn't happened, i would've been 100% fine with it because every time he gives an update on LTC people point fingers accusing of manipulation.
Hi kingscrown, nice work sir
I don't like how this sounds at all, and I hope it is not true...
every crypto have an unique things, well sometimes when someone wants to up the value of one kind of crypto, the have to make down the others, its my thought
Hey @kingscrown
I saw your past post about SBD.
Can you predict when hitbtc stop maintenance for SBD?
Rumor has it that facebook will be adopting litecoin in 2018. Also litepay.us allows business to accept litecoin. Thanks for the article.
its could not happens because facebook creating its own monitization option
Trading has inflation, this is the time btc has gone down, but will recover soon....
I think this is an amazing decision because now truly it is in the hands of the community and he cannot manipulate the pricing. I look forward to seeing how this will effect the future of this currency.
Good article. So how exactly do we prove that Charlie sold everything? You can buy litecoin anonymously, its not like his coin was labelled "charlie's LTC" .
@kingscrown I think we should take advantage of this market capitalization drop that took place the past 24 hours or so. Everybody is panicking, mentioning bubbles and I'm just thinking how the whole crypto market cap has grown much bigger within the last few months. BTC's price dropped but let's not forget what its price was last year! I think this is a normal correction which can be seen as a gift to us! We can buy some cheap crypto for Christmas :)
EXACTLY! Everyone was freaking-out because BTC got down to $10,400, or whatever, but it was barely above $3,000 a few months ago!
last month it was $8000. Crypto is like everyone is getting in a building that is on fire alert, the alarm turn on and everyone bottles neck. Then the switch get turned off everyone goes back in.
Good analogy.
Amazing post!! Thank you for taking the time! If you get a chance check my post out at https://steemit.com/cryptocurrency/@seikatsumkt/scam-el-petro-the-new-cryptocurrency-announced-by-the-venezuelan-government
Wow.. Very informative. I appreciate your content. Keep up the good work...
Thank you.. Merry christmas
Have been very happy with LTC and still holding. With big price dump last night I picked again when it dipped below 200.00
Thank you
Charlie is such a clever dog!... Wow, LTC on facebook!, that would pump the coin to another galaxy!
I would be selling all my ETH if Vitalik did something like that. I can't blame him for selling 1/3 or even 1/2 half but 100% with no vested interest would concern me. He was on twitter all day for a few weeks literally pumping Litecoin to the moon just to sell into the spike. These are just the facts what he did. Man that's all I am saying.
He did make it a point to say that he still looks at LTC as his child, and wants nothing but the best for it. The way I look at it is, he didn't even have to tell anyone he sold all of his LTC, had he chosen not to. Also, he didn't pre-mine any LTC when he started it, and I believe that says a lot...at least for me. Personally, Charlie Lee seems like one of the most honorable people in the cryptocurrency space, but that's obviously just my opinion. I would have probably invested my life savings with Bernie Madoff, so what do I know? :-(
Thanks for your post.
I don't understand why Charlie Lee has to worry about whether he owns LTC or not. His working on the Litecoin project and his ownership of LTCs should not be intertwined.
I heard a FB exec joined coinbase on the crptoverse on youtube
He is absolutely a manipulator. Doesn't matter he sold his coins or not. Let someone shut him up!
Yup, this great information that we need. thanks lot bro. I appreciate that.
It is a veeeeeeery smart MOVE (y) @iarticle
In boxing the boxer show left and punch right. In trading rules are also the same.
You are correct, but also, a good fighter studies his opponent, and learns that he oftentimes, shows left, and punches right. lol
This would be huge if true, I wonder what other coins FB would accept?
Well when the creator of litecoin sold, everyone I knew was like he is giving up on his own invention. A bunch of people lost hope on litcoin and I was like why would he publicly announce if he thought it was going to fail
It is really the sharp activity of market it goes up and suddenly flows down it is a general happenings
It's hard to say what happened, but I believe LTC, BTC, and many, many other cryptos will be just fine, and the last flash crash, as some are liking to call it, will be all but forgotten very soon.
I know a lot of people are making a lot of money, and that's great, but I'm just as excited over what's evolving because of the blockchain technology. There's a lot of very bad things going on in the world today, but I still believe that this has to be one of the most exciting times to be alive in mankind's evolution.
There are many more decent, compassionate people than there are the evil, power-hungry, greedy S.O.B.'s, and with the blockchain, and the many brilliant, and dedicated people that are working in the technology, and the support of us all, we will change the world into something that most of us will be happy to leave to our kids.
I know we can never truly predict what the market will do but I’m curious about Litecoin. Do you think it could be as big as bitcoin as become and if so, how long will it take? Will it ever hit 10,000?
Bitcoin loses all of its value in one day's trading.1 bitcoin will be $ 1 :D
youre dumb
Could have had an added effect to the overall correction that we saw occur today in the Cryptos market but not the whole reason. We saw a drop across the board on all cryptos and more dramatically in bitcoin cash which I found interesting. Perhaps the majority of people who bought into Bitcoin Cash bought in as an investment and saw the price drop and panicked? That's my two cents.