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The founder of Litecoin no longer owns any of his own cryptocurrency

sudshr47 December 20, 2017 Startups

He won’t say how many coins he had, but all of Litecoin founder Charlie Lee’s share in the cryptocurrency has been sold or donated.

In a Reddit post early Wednesday, Lee explained how his stake in Litecoin is a conflict of interest: “Whenever I tweet about Litecoin price or even just good or bads [sic] news, I get accused of doing it for personal benefit,” he wrote.

Even though Lee sold all his coin, he’s still very much involved in his currency. “I’m not quitting Litecoin,” he assured in his note.

I still have a lot of skin in the game. Litecoin is my creation. I want it to succeed more than anyone.

— Charlie Lee [LTC] (@SatoshiLite) December 20, 2017 Read more…

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2018 will be the year of Bitcoin’s rivals

sudshr47 December 20, 2017

Bitcoin has had an absolutely insane year. At one point, its price was up nearly 2,000%, from about $1,000 in January to $19,922 mid-December. It exploded in the media and it caught the attention of pretty much everyone – from Wall St. billionaires to the average Joe just trying to make a quick buck.

Now, however, it’s time for Bitcoin to pass the baton.

I’m not talking about the price; estimating where the price of Bitcoin or any other cryptocurrency will go is pure guesswork. But in terms of development, Bitcoin’s progress in 2017 can easily be summed up in three words: Next to none. Read more…

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Litecoin founder Charlie Lee has sold all of his LTC

sudshr47 December 20, 2017

Charlie Lee, the former director of engineering at Coinbase, is selling almost all of his holdings in Litecoin (LTC), the cryptocurrency that he founded in 2011.
Lee explained in a post on Reddit that he is selling all of his LTC coins — bar a number of physical coins he keeps as collectibles — to avoid the conflict of interest that comes with his influence and position as LTC… Read More

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Bitcoin’s competitors are also at all-time highs — and rising fast

sudshr47 December 12, 2017

It’s a good day for someone who believes in cryptocurrencies that aren’t Bitcoin.

Don’t get me wrong — Bitcoin is doing just fine. At $17,459, it’s grown more than 5 percent in the last 24 hours.

But Ethereum and Litecoin, as well as numerous other cryptocurrencies, are doing even better. Ethereum rose 21 percent in the last 24 hours and is currently trading at $630, while Litecoin grew a whopping 83% in that same period and is trading at $327, according to CoinMarketCap. Both cryptocurrencies are trading at an all-time high right now.

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With markets going crypto-crazy, SEC chairman weighs in

sudshr47 December 11, 2017

Given the crazy run cryptocurrencies like bitcoin, ether and litecoin have been on in the last week, it was only a matter of time before the Securities and Exchange Commission weighed in. Well, now it has in the form of an open letter from SEC Chairman Jay Clayton. Read More

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Revolut merges mobile banking with cryptocurrency trading

sudshr47 December 5, 2017 Startups

Revolut is merging traditional banking and cryptocurrency to let you buy, sell, trade, and hold Bitcoin, Litecoin, and Ether alongside 25 world fiat currencies. The $90 million-funded mobile banking startup is trying to erase the divide between old and new money. Revolut‘s CEO Nikolay Storonsky announced on stage today at TechCrunch’s Disrupt Berlin conference that… Read More