If Litecoin is used less as a speculative profiting coin and more of a practical usable currency, it will, in the long term increase in value and become a mainstream currency.
Pumping and dumping does nothing for real use, as users; buyers and sellers would resist using a volatile Litecoin incase it falls in value by hundreds or thousands by the following day. If Litecoin stays stable, people will use it more. Usability is especially likely as it's functionality outperforms many coins, including Bitcoin.
Charlie Lee believes Litecoin should stay at sub $50. A less speculative and turbulent currency acts as a hedge against the fluctuating Bitcoin? Could talking down Litecoin at these pinicle moments of Bitcoin hype, and keeping Litecoin affordable be a way of strategicly making Litecoin the reserve currency?
Here is an extract from a recent reddit from Charlie Lee
https://twitter.com/SatoshiLite/status/895032983396114432
- SatoshiLite
If you have been following Litecoin for more than 3 years, you will know that Litecoin is boring. I would be lying if I said it wasn't. Litecoin, for some unknown reason, is always very stable with USD. I have no idea why, but it is this way. Whenever Bitcoin pumps, LTC/BTC crashes, and that makes it stable with respect to USD. Whenever Bitcoin crashes, LTC/BTC goes up a bit. Some for 99% of the time Litecoin is really boring. It stayed around $4 for like 3 years! And it pumped to $50 and now seems to stabilizing around $45. Bitcoin can go to $5000 tomorrow and I wouldn't be a bit surprised to see Litecoin stay at $45. I believe in the future, LTC will go up in value. Maybe the next time, it will go to $400 in a few months. No one knows if or when that will happen. So the key is to be patient and to Hodl. Long time Litecoin supporters know this, and those are not the people that are crying foul today."
It may not seem like Charlie Lee is a passionate and dedicated leader, but he is a very clever and strategic leader. On CNBC Charlie said Bitcoin was more secure than Litecoin. I can see Charlie wants to come across as being genuine and less pump, but on the other hand Charlie failed to sell the incredible developments that are happening now. These exciting developments change the way that Litecoin works for the better. But Charlie is correct, Bitcoin is stagnant and stable. Stable and idle cryptocurrency needs to upgrade with demand, which Bitcoin fails to do without lots of argument and stalemate.
The development of Lightning network will lead onto atomic swaps, mast and many more groundbreaking developments.
https://twitter.com/JackMallers/status/895818261429878784
- JackMallers
If Charlie is trying to stop the pump and dump speculation and try to keep jumps at a steady pace he is doing a great job.
cobleeLitecoin Founder•4d
Hype does not make a project succeed long term. It may cause a slight price bump. But I'm here for the long term. I believe what I'm doing now is best for the coin long term. I can care less if some investors are turned away short term if Litecoin will succeed eventually. Sure, I may be wrong, but I am doing what I think is >best.'>
And the reason for a less fluctuating coin is so that it becomes a reliable currency:
coblee
Litecoin Founder•4d
Litecoin can grow in value in the long term. Just got to have patience and don't expect a quick pump. I can't tell you why you should or shouldn't invest in Litecoin. That's up to you to decide. I'm in it to win it and I know it will take a while.'
cobleeLitecoin Founder•4d
By win, I mean mass adoption.'
When investors are looking for somewhere to put their money, leadership is a crucial part of it.
Comments such as the following maybe in jest, but this doesn't bode well for Litecoin's future, unless this is part of the strategic course by Charlie Lee.
coblee
Litecoin Founder•4d
Yes, I understand this dilema very well. What can we do about it? I'm not really sure. I probably need to step out of the limelight very soon...
coblee
Litecoin Founder•4d
Please demote me. Someone please do that!
A much more positive influence Charlie Lee could have would be to provide guidance and motivation to those considering supporting this coin, either through skills or marketing. Positive talk consequently may increase it's value, so maybe not great for keeping it's value low and stable against FIAT.
This reddit post was a great example of what Charlie could have said at the start to enthuse the masses
1JoeLite1Litecoin Defender•4d
Got any suggestions on how to best help Litecoin and you? Do you need more donations, people to review code, ask businesses to accept litecoin? What can we do as aCOMMUNITY OF 45,000+ to best serve Litecoin? I think some guidance or a goal could go a long way. I'm here rallying behind you and I'm sure many others are. We want to help.
cobleeLitecoin Founder•4d
Try to get merchants on board. See how you can help Lightning succeed. Need grassroots effort
Charlie says to take what he says with a pinch of salt. He doesn't take himself seriously which is somewhat refreshing when other coins are fused with forums of angry people.
I can see why Charlie Lee is doing what he is doing. He is not being transparent with his intentions, but at the same time he is doing what is best for takeup and longevity of the coin, not pumping for quick profit speculators. Purposefully muting exciting developments to maintain a steady course will cause long term stability. A stable investment for the long term rather than a pump and dump strategy is more honest and I respect Charlie for it. I'm going to invest and sit on Litecoin for a few years.
For my kid's birthdays I'm going to encourage people to buy Litecoin for my kids rather than giving them FIAT or plastic throwaway toys. When payments get easier, I will request part of my salary in Litecoin. I want stability from a cryptocurrency. If you are a short term day trader then Litecoin is probably not for you. Speculators best stick to ICO's and speculative alt coins. Litecoin is in it for the long run.
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