Bitcoin Forum

After Litecoin founder Charlie Lee pledged to make a push towards improved privacy in 2019, it appears that development towards this goal is now well underway as development funding picks up steam.

The new development plans to implement the MimbleWimble protocol on Litecoin, allowing users to selectively opt-in to privacy-preserving confidential transactions.

Full News Here (https://beincrypto.com/litecoin-community-calls-out-charlie-lee-to-fund-privacy-upgrade/)

I do think that once stated and called out a person should do what he was meant at first place.

Charlie Lee stated that he would pay 1:1 but he's shouting out to the Community that he won't pay all of it.

It makes sense they are angry at him and asking him to pay all at once else it might die.

Are you by the Communities side or you think Charlie Lee did the right call?

he sold his bags when litecoin hit its all-time high, and he also said he will not buy it back. of course, the community is angry with it, last year he promised to make development but in reality? will you still believe in him after all of this? I am not.

This was also done by the co-founder and core developer selling his ETH, not sure it was also sold for development. He was worried that it was only a personal profit, even though it was his own funds and had the right to sell, they would not buy it cheap because they as the founders were free to do anything as long as it doesn't drop sharply causes a big dump, so indeed we also don't need to expect anything to the founder as long as the development is still going on it doesn't matter, anything will be best in 2020 I'm not an LTC holder but I know their community is big outside there and will continue to support the development using the costs of large holders

This is the reality when it comes to the platform without an intention to create a platform that generates revenue. I know that litecoin and ethereum were not registered as profit company but when we are seeing this and it looks like the investors will become the victim as the company can't even stand without the help from the pre-mined coin that must be dumped to the market.
It looks like un-healthy company.

Litecoin was dead the time Charlie lee sold his stakes. Litecoin had no clear strategy from the start and was just an altcoin to bitcoin. And now as we have a lot of options, there's no place left for litecoin. A MimbleWimble implementation would have a positive effect on the price but there's no more synergy left with the project to carry that on.

Why should he pay for it all? Does Satoshi pay for bitcoin development?

If litecoin has a genuine community who are benefiting from litecoin, then that community should pay. Benefitting while not contributing is called free-riding.

i agree this is one of the reasons its hard to fully support altcoin
many people is asking why other altcoins with active developer didn't surpass bitcoin
it because this altcoin is built for the developer to get some money while the bitcoin is built with trust

we are talking about ltc. it is not about the sharp dump or not but it is about their stand, if they do not have any attention to buy it back again after selling it at a ridiculous price that means they have lost their interest in the project. without passion and interest, the project will not survive against the market and the competitor.
(if they really use it for the development purpose, they should not have asked for a donation. )

Yeah that act of him already can say that he's out of the project and whatever's next with Litecoin depends on the urge of the community. I don't believe him anymore and if he's still doing this for the sake of the community that's probably by his good will but still people can't forget that he's no longer responsible for the development of Litecoin. He's likely the spokesperson of the Litecoin community but it's not that the same as before anymore.

I think some important information are missing in your post. What does he have to pay at a 1:1 ratio? Is there a promise of LTC buyback or what? This is probably what happens when you try to cut the article and force some people to click on that link so the OP can get paid.

I don't quote a full post often but I'll do it this time just for reference.

lol  He must have done it on purpose so it forces you to go over into the link. I'm not going into the link either but I'm probably believe what said above that Charlie promise the privacy feature of LTC. Calling out Charlie would be wise, let him know you are watching him.

I'm not however believing that he wouldn't buy back what he sold. Just like Vitalik they are to own these coins forever, they know when to buy back.

I think the community is stronger in opinion than Charlie Lee because they must have strong evidence and Charlie Lee should think about the inconvenience of the community however he will not rise without community

Youre right with what you said because community level of support determine how a coin will thrive in the market and i certainly believe Charlie Lee will have to follow what the community ask for rather than implementing a platform through his own decision without thinking of what the LTC users want.

I have no clue what you guys are talking about being paid for the clicks, just posted the news with a brief information.

There it is:
As it stands, Charlie Lee has promised to match donations 1:1, which essentially means the community only needs to raise a total of $36,000 in order to reach the funding goal.

However, at least some in the Litecoin community don’t think that this is enough, with several Twitter users voicing the opinion that Charlie Lee should pay for the entire thing himself out of the profits earned from selling his stash near Litecoin’s all-time highest value back in December 2017.

well I know we are discussing LTC, it does not mean I also want to discuss ETH but this has the similarity of their founder and part of their project team selling their assets, but not to satoshi even he never sold it if he is still alive now, it looks like they will not lose interest from investors, if indeed it is a demand from the community the LTC founders should also listen well, because if there were no community, LTC would never be this big until now

A project with a negative community will die soon, if Charlie Lee fails the community again then more questions will be raise and more problem will arise. Litecoin was a good coin, but last year it didn’t well to them and the update is still nothing. Charlie Lee can’t be blame on this one but when it comes to a decision making, he’s not good on this one.

He is just a liar, a famous liar. It's ridiculous to see someone still believe what he said after witnessing what he has done since he promised to support Litecoin. ;D
Trust me, Litecoin will soon become a coin to die for what he will bring. It's disappointing for a developer who once grew famous to become a famous liar - "Mr. Sold at ATH."


Me too, haha

Although the litecoin he sold is already being considered as his own money but if he underperform like this, it's kind of understandable for the people or the whole community to be upset. I guess all his promise is just a promise after he sold at ATH and he has arrived at that point where he just don't care about others' opinion simply because all the money he intended to own is all in his hand. This kind of person is what people should be aware of the most.

it will not be banned because it will not become a privacy coin but instead semi-privacy coin, you can activate or deactivate it. the country will not ban it, but the real problem is charlie lee does not have any interest left in developing this project anymore and the project lacks a capable developer to make something great out of it. we can not expect something big just because we enable mimblewimble protocol.

The people running the site posted in the original post have this "ambassador program". They pay for every traffic (click) they can generate to these people who post their links. OP is probably one of them.

Thank you for posting the necessary information by the way. I don't get the whole community raising fund to improve litecoin privacy. Does this mean the whole litecoin team doesn't have any fund left that's why they have to rely on the community or Charlie?

I think it's a bad sign when the founder of a cryptocurrency sells all of his crypto, especially near the all-time high. On the other hand, if Litecoin is truly decentralized, it shouldn't matter what Charlie Lee says or thinks. I think he is a leader whether he wants to be or not, but Litecoin has become larger than him at this point.

I am very supportive of Litecoin's cause and do not want to take side, reading the article the fundraising is on going and it will be funded within three months I hope it pushes through, I believe Litecoin will reach $1000 in the future it's still a strong coin, and the community should not let  Litecoin die without giving a fight

Improving the current system has always been the core thing that litecoin always aimed at, that is why many people in bitcoin world see the litecoin as a training ground for improvements that could be made to bitcoin as well after it is done to litecoin. Remember the segwit times?

Litecoin did that first and now they are on path to something greater and bitcoin is just following it. Of course litecoin is smaller than bitcoin in every aspect we can imagine but still if it works well in litecoin then bitcoin core team looks at it as well. Will this be one of those things that are great for litecoin that others will follow or will it be a big bust?

We may never know until it happens but at least I support Charlie's constant need and want to improve and put on top of what they have right now.