While Charlie Lee made his name in the cryptospace for creating BTC’s silver, Litecoin’s market has been heavily dependent on Bitcoin’s bull run for its soaring trading value. In one of his latest interviews, Lee gave his take on Litecoin’s soon to be expected halvening and how it may challenge the market’s status quo.
The LTC advocate openly warned the viewers about a short-term drop in LTC’s value, although he claimed that the market will witness a bull run in the long run. Drawing a comparison with Bitcoin, Lee stated that Litecoin came into existence owing to his decision “to do something better than what’s out there.” He shared,
“Litecoin was successful because of how I launched it in a fair manner. No ICOs and no premining. Just like Bitcoin.”
While talking about Litecoin’s success, it is also important to know that Litecoin had managed to onboard thousands of miners on the day of its launch, which gave the LTC ecosystem a head start in terms of market adoption.
What might come as a shocker, Lee also revealed that he doesn’t use any Dapps or blockchain platforms. He supported this by saying,
“Blockchain is really well suited for money because its expensive. It’s an inefficient database. The reason you need it is because of sensorship resistance or immutability.”
He attributed the success of the blockchain-powered gambling apps to ensure each game is prove-ably fair. Pointing out the contrast, Lee mentioned that playing poker online through fiat currency is almost nonexistent.
With LTC’s halvening expected to happen under a month, investors have begun collecting their share of Litecoins after taking cues from the previous halvening in 2015. With the crypto ecosystem boldly looks forward to an era of unprofitable mining, Litecoin is currently exploring privacy related advancements although no concrete roadmap has been officially defined for the short term.