Charlie Lee, founder of Litecoin and one of the key names in the cryptocurrency community, answered the questions of TenX founder Julian Hosp on YouTube.
The subject of the interview, which lasted for about 40 minutes and Lee responded with great sincerity, highlighted why Lee sold Litecoins, Bitcoin Cash’s status, and Litecoin’s future.
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Please enter CoinGecko Free Api Key to get this plugin works.Why Charlie Lee Sold His Litecoins?
Charlie Lee, the founder of Litecoin, the world’s 9th largest cryptographer, who spoke in a 35-minute YouTube interview, assessed his own product, Litecoin, but in general the developments in the crypto-currency world.
Lee said he wanted Litecoin to be a crypto coin that was used with Bitcoin on the first days of its release, along with the fact that Litecoin also designed the price to be lower than Bitcoin. Lee said that Bitcoin is the first crypto money in the world and that it is a bit costly because it is very strong against aggression and assault, so he thought that Bitcoin price is high.
Lee also used interesting expressions about Bitcoin Cash, and described Bitcoin Cash as trying to lower the value of Bitcoin’s brand.
Lee, arguing that cryptocurrency is indeed indispensable to the fact that the numbers on the world are not really centralized every day, arguing that it is impossible for a cryptocurrency leader behind him to be decentralized, he said:
“If you really want to be a decentralized crypt money around the world, you certainly should not have a real leader behind you. I will sooner or later leave. “
The conversation turned out to be from Lee to Litecoin, where Charlie Lee had some regrets. A successful business man who sells his Litecoin from a place close to the highest levels that Litecoin has caught up to now and regards it as a manifestation of his conflict of interest for that period, said he realizes that he is now at least able to do better in timing, he said:
“Obviously I still think I made the right decision. But when I do a deeper questioning, maybe I can not get myself to say that the timing could be better. “
Hosp and Lee later became the central banks and state-sponsored crypto paral- lage, which had been much discussed in recent days. Indicating that governments and executive committees are inevitably planning to make such an entry, Lee, while Bitcoin and Litecoin are real centralized moneys; it is much more convenient than these products.
Later on, Twitter and Charlie Lee’s attitude came up. Lee, who is known for blocking his employees through Twitter, does not look at the age of the impression of anyone in this regard, admitting that it is a harsh blocking policy, he used the words ” I’ll block you, so simple if you try to trace me . “
Perhaps one of the most interesting parts of the interview was the algorithms. Speaking about switching from PoW to PoS in particular, Lee also assessed whether Litecoin would increase the total supply.
Defending that the PoW model is still the right way to secure the existing network security, Lee also said: “Somewhat interestingly – one day Litecoin thought to increase the total supply,” said:
“It is not easy to know what happens when the boundary is approached. Things are going well for the moment. Bitcoin and Litecoin go well because the mining awards are very important for the safety of the system. If you stay connected to the charges, but what happens if these charges are low? The answer is quite simple, the security level drops.Either the transfer fees cover the security costs or they pay for the money security work costs that are settled by a fixed and small inflation rate. Decide which one is better, but it’s best to leave it to work until a better model comes along. “
