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LitePay, a payment processor that is Litecoin processor, announced that it is shutting down all its operations and is looking for a seller. In a post on the Litecoin Foundation, the abrupt termination of LitePay has been disclosed.LitePay, a payment processor that is Litecoin processor, announced that it is shutting down all its operations and is looking for a seller. In a post on the Litecoin Foundation, the abrupt termination of LitePay has been disclosed.

Everyone wants a quick money grab it seems. Too bad it is shutting down, it would be a good thing for the crypto ecosystem in general.

I guess they have build the hype around their company to sell them at end, well mostly things are done for money. Anyway there are other payment processors out there for litecoin if others are willing to include it through payment processor. Theres always a way to create your own script so you are in charge of your crypto.

I wonder what is the reasoning behind this, do you think perhaps that it's because litepay hasn't got the level of adoption that they would have hoped for? Or maybe the down turn in the market has given them the creeps.

It would be a bad thing for people using Litepay and be using it as a way to store their LTC. I worry that this will be bad news will negatively affect the LTC and the crypto market. Maybe this will become worse than becoming FUD.

Sadly, many members of the community have put too much hope into Litepay. After the project’s revelation in mid February, Litecoin’s price rose almost 50% over the course of one week. Many invested in LTC just because of this. Many of them are going to start dumping now...

This was unsettling to hear when it was first announced. There was a ton of hype around Litepay in the LTC community with everyone saying its release would propel LTC up in the market and help it achieve more relevancy.  I was hoping LitePay would catch on as I have a good amount of LTC I picked up in the middle of last year but it looks like LTC like most other coins are going to continue their slow downward trend until some positive news or tech can be developed that is here to stay.

Not only have you posted the same phrase twice but you also failed to include a source.
https://www.coindesk.com/litecoin-foundation-issues-mea-culpa-litepay-pulls-plug/

Second, how are they looking for a seller? Maybe buyer since they are closing down.


Of course it's bad news. And of course it's worse that FUD,since it's a Clear and beyond and Doubt fact.
They are shutting down, project failed, bye bye!
Next in line, one step forward!

This is sad. Many hypes were going about Litepay . Now the people who are using Litepay will face many difficulties. I hope this won't badly effect the crypto market.

Yeah this is really bad. It was a promising project, but now, are there any reasons left to buy litecoin? I do not think so. I hope any longtime holders will get out in time.

This is sad, real sad. Lots of people are gonna be very much disappointed and losing a lot of money. This one reason I have little faith on ‘sudden hyped coins’. Good news in bad is this is gonna be good for total ecosystem. People should be more cautious before investing.

At least litecoin foundation has already announced for apologizing about that. Litecoin foundation was creating a big FOMO and Overhyped caused by spreading litepay.us as the future of litecoin itself to get mass adoption.

And i just know they are announcing it when the VISA crest has happened.

At that time the platform still offline and i can't comment a lot about that.

This information is correct, it is not possible to predict a project as unsuccessful or failed! Be careful before investing!

This is probably a bad news for Litecoin especially those who invested on this coin when Litepay was announced and those who believe that Litepay will be the key for this cryptocurrency to have the attention that it deserved. Sadly after a month of operation they have already stopped all of their services but the good thing is they are planning to sell the company so if there is someone that have an interest to buy the company there is still a chance that they will continue all their operations, for now they will not until they sold it. But I doubt that they will find a buyer anytime soon as this is a company that is just operating for a month.

That sucks for those who invest in Litecoin. To be honest, since Charlie announced that he did not have any LTC anymore, I could never again rely on the development of the project. To be just a beta test of Bitcoin, a lighter version is not enough for it to succeed in the long run. It would be necessary for them to work to offer greater and better options.