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Charlie Lee talked about attempts of artificial pressure on the Litecoin course and debunked some myths about the coin



The founder of the Litecoin crypto currency, Charlie Lee, said that recently, traders and funds, as well as some interested groups, "agreed" put pressure on the coin's quotes.

"People and funds that open short positions against LTC, as well as groups that view Litecoin as a threat, have been coordinated pressure on the course of the coin. I will try to debunk all this FUD around and show why Litecoin is of great value, " Lee wrote.

The allegations that Litecoin has lost all the advantages in the Altcoy environment, in his opinion, are completely groundless, as the "digital silver" network is one of the most secure and supported by ASIC-miners with a total cost of $ 150 million.

Lee is convinced that it is unprofitable for miners to carry out attacks on the network itself, as this will lead to devaluation of their equipment. He also added that Litecoin is one of the most liquid altcoins, and there is a listing of almost every stock exchange. Soon, the support of the coin will also be added by the platform of the Gamini Winklwos brothers.

9 crypto currency processors support LTC: Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globee, GoCoin, LTCPay and TravelbyBit. Lee is confident that this makes the interaction of merchants with assets extremely convenient.

Every day, the network processes transactions for a total of $ 200 million. Moreover, Litecoin has been functioning smoothly for seven years.

Some members of the community believe that Litecoin has lost its value, since the main network of bitcoin was released Lightning Network.

Lee parries – many Lightning clients support LTC, and interaction with bitcoin occurs through atomic swaps.

He emphasized the "boundless" possibilities of atomic swaps and the Submarine Swaps technology for payments between the main BTC / LTC networks and the Lightning Network.

Lee noted the crucial role of Litecoin in testing the Segregated Witness protocol in the framework of game theory. The bitcoin test network was not suitable for this purpose, since its native coins had no value and the attackers had no incentive to attack it.

He assured the community that he devotes all his time to the development of Litecoin and the mass acceptance of the coin.

Recall, Li said that he does not intend to buy LTC coins again to avoid conflicts of interest.

Previously, he advised all community members to buy at least one bitcoin, and then already engage in altcoyins.

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