Charlie Lee sold off his LTC. Interesting

[mummybtc]

He might be sincere with his action but feel he should have just keep quite with his decision, I don't know how this is going to impact the price but it is not a good thing, is just like a CEO selling all his shares in a company

[johstacy]

Poor guy - he already faced a heavy backlash on reddit after he posted this.
I guess people don't want to believe anything he says or does anyway.

"Poor guy?" If a CEO pumped a stock price and then dumped everything at an ATH, he'd likely be under investigation for price manipulation.

Yup! And Because he is a well-known person on Litecoin many would thing that it is a manipulation kind of thing and posting something like that would sure get so much attention or other people would go and sell their LTC because of a sudden selling of LTC by Charlie right now the price of Litecoin would be $333.51 USD, And in my opinion he can do what ever he wants with he's litecoin but it is a kind of shock for other people and it is a feeling of kind of set up.

Of course this is the manipulation of public opinion. And on the stock exchange - it would be an investigation and an arrest. Public people should not say such things. His name is associated with litecoin. Although, perhaps he just wanted to buy a villa and he did not have a couple of million bucks. That's why he sold litecoin. But this does not sound right.

[CryptonikaTrade]

He is just final fixed his giant profit because lite is useless coin. And that is just commercial move which he did out as ideological shift

[hashshashin]

He sold and bought bitcoin cash. Hehehe. Okay seriously though, i don't know the conflict of interest he is talking about. Can we prove he really sold? I hope he doesn't end up broke like Andreas. The fact is his claims can't be proven

I also think about this, how can you confirm that he really sold everything ?? I also think that the submission of this information is not spontaneous. Opinions of course divided - but it's normal.

[gamer_2088]

I think the price of litecoin should be adjusted after the news. you expect a correction? To what levels? thank you for your opinion.

[JanpriX]

Whatever the reason that he may have internally, I'll only see it as a profit taking move where he secured a significant amount of cash while selling at the top. Don't get me wrong, this is a very understandable event that any of us would take if we have the amount of LTC in our wallets. Just checked the chart of LTC in the past few days and I think the selloff that he made did nothing to the market itself. It still sits in a very good price, well above the price when BTC had its huge bull run. I honestly don't think this will do any harm to LTC and its investors in a grand scale of things.  

[ac2eugenio]

I wont be suprised if someday charlie lee will join the BCH team and join Roger Ver to his madness.

[gazilla]

I just read his article today, and his statement makes sense, as he said that him having the Lite is a conflict of interest, as soon as he posts something good for Litecoin its price goes up and vice versa, and apparently people have accused him for rigging the price. I think he showed to be a sincere millionaire if not billionaire man

[justin86]

According to that, his ltc holdings were not important much, it might be true or not, though I don't need to believe him, but litecoin is better than most in top 20

[oscarrsm]

This news of me, personally discouraged. Such a loud statement from Lee. Sold all LTC. What is it? He was well aware that the price of the coin would begin a very rapid fall. Conclusion. He did it on purpose. This is a very not fair game. I treated him very well as a person. Now I'm disappointed.

[HardFireMiner]

To be honest, his reasoning doesn't make any sense to me.

Him owning LTC means he will always be vastly interested in making LTC grow. I just don't get it, sounds stupid.

He walked away from Litecoin development several years ago.

I think he disclosed his sell because he reasoned it would be best if the news came from him, rather than leaked out later.

He got back to Litecoin after he left Coinbase.
And the sell nor the reasoning still makes no sense, do you ever trade a coin you trust fully (100%)to another one?
Never did this, and I did thousand's of trades.

[jeronimosuykens]

I wont be suprised if someday charlie lee will join the BCH team and join Roger Ver to his madness.

I know that Charlie Lee is a founder of Litecoin and he has also participated in several major crypto projects in the world. If Charlie Lee sells his Litecoin, I think his goal might be to get the attention of the community right now to Litecoin, which could be a form of PR for his pennies. Because he is a manager who always does the things he plans.

[cris17]

Hmm... very confusing information, I don’t think it’s true, just one more candy to make LTC fall, and then repurchase tge coin in low price. My personal opinion...

[Miltwo]

I wonder how this will affect the price in the short/long term. I think the devs and people behind a coin should have some skin in the game though..

[Tactical Genius]

Well,for now it may cause a dip in the price for now since some people will read different meanings into the reason he sold but the price will surely recover once he will still strongly support the project.

[VarDiff]

It's an excellent marketing step

Charlie shows himself to be an honest man, who nevertheless struggles to popularize Lightcoin. Even after such news about him will be spoken, and this works for the benefit of Lightcoin.

And he does the right thing, warning people that you should not wait for tothemoon. Lightcoin can go flat or even bearish for a couple of years.

I believe that Lightcoin is a strong coin and has a bright future.

<3 Charlee Lee

[Qrivium]

It's an excellent marketing step

Charlie shows himself to be an honest man, who nevertheless struggles to popularize Lightcoin. Even after such news about him will be spoken, and this works for the benefit of Lightcoin.

And he does the right thing, warning people that you should not wait for tothemoon. Lightcoin can go flat or even bearish for a couple of years.

I believe that Lightcoin is a strong coin and has a bright future.

<3 Charlee Lee

Many exec etc own shares in their company it is viewed as a good thing having skin in the game.  Not sure why CL decided that holding LTC was a conflict for him, but for JB at Amazon or SJ, Apple back in the day it was no problem.   

Combine this with the fact he tweeted LTC can go to $20 and I don't think it helps at all.  Was he as outspoken when LTC was rising (relative to development and market use) back when he started cashing out, so he now no longer needs to worry?

  I don't remember him worrying and telling everyone it could crash to cents but maybe he did

[CKdexter]

well i think it's not a bad notice

https://www.reddit.com/r/litecoin/comments/7l1m7t/here_is_why_charlie_lee_selling_his_ltc_is_a_good/

[Qrivium]

well i think it's not a bad notice

https://www.reddit.com/r/litecoin/comments/7l1m7t/here_is_why_charlie_lee_selling_his_ltc_is_a_good/

interesting

[samy_voc]

I am not sure what will be the motivation to develop LTC By Charlie when there is no rewards for your work when he has totally out of LTC.