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.

1 / Recently, there has been a concerted effort to suppress the Litecoin price by people / funds that are shorting LTC and by groups that see Litecoin as a threat. I will clear up this FUD and show why Litecoin has tremendous value.

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

"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.

2 / FUD: Litecoin has lost its edge and can not differentiate itself from hundreds of other altcoins.

TRUTH: Litecoin has one of the most secure networks of all altcoins. Litecoin has over $ 150MM of ASIC hardware protecting it. Litecoin dominates Scrypt mining by far.

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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.

3 / Miners have no incentives to attack the network because it will destroy the value of their ASIC hardware.

Litecoin has a ton of liquidity, which is important for people to get in / out of LTC. It is on virtually every fiat and crypto exchange (Gemini soon), even more than ETH

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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.

4 / Litecoin is supported by 9+ payment processors: Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globee, GoCoin LTCPay, and TravelbyBit. This makes it extremely easy for merchants to accept LTC. There are too many LTC merchants to count! #PayWithLitecoin

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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

5 / Litecoin processes $ 200MM worth of transactions each day. And the network has worked flawlessly for 7 years!

Litecoin works today as a global decentralized sound money, that can not be censored, can not be reversed or taken away, can not be counterfeited, and can not be devalued. 🚀

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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.

6 / FUD: Litecoin is no longer needed now. Bitcoin can scale with LN.

TRUTH: Many of the LN clients and applications also support LTC because they see the value of Litecoin. With atomic swaps, LTC interoperates with BTC on the Lightning Network.

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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.

7 / Litecoin will always be the cheapest and fastest on the ramp to Lightning Network. And with solutions like submarine swaps, you can use on chain LTC to pay for a BTC lightning invoice!

We will also have decentralized exchanges using atomic swaps. The possibilities are endless. ⚡

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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.

9 / Litecoin helped Bitcoin activate SegWit last year by proving the game theory of SegWit in practice. Bitcoin's own testnet3 can not do it because testnet3 coins have no value, so no incentives for malicious actors to hack it. Litecoin helps Bitcoin. That is extremely valuable.

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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

11 / FUD: Charlie has quit Litecoin and does not care anymore.

TRUTH: I'm working on Litecoin full-time and focused on Litecoin adoption. Proof: the fact that I spent time writing these 11 tweets! 😀

Litecoin also has the strongest crypto community. #LitecoinFam 🚀

– Charlie Lee [LTC⚡] (@SatoshiLite) September 20, 2018

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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