[2017-12-20] Litecoin Founder Charlee Lee reveals he sold all his litecoin

[SlipMart]

                   

Litecoin creator Charlie Lee has revealed on social media that he sold and donated all his LTC holdings over the past few days. The announcement was meant to show he no longer has a conflict of interest in promoting the altcoin but the timing has sparked some backlash against Lee.

Read More: https://bitzamp.com/litecoin-founder-charlee-lee-reveal-he-sold-all-his-litecoin/

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[buwaytress]

There's always going to be a conflict of interest when a developer, particularly a lead one and creator like Lee, also holds coins. Just in previous weeks he already announced major marketing moves, appeared on CNBC's Squawk Alley, leading up to LTC's all time high. He would have realised this long before any of those moves, long before quitting other commitments to focus solely on Litecoin.

Backlash to any moves are to be expected. On the other extreme you have ardent and long time Bitcoin advocate Andreas Antonopoulos getting flak for spreading Bitcoin education for years and never owning any. There you have someone with a clear boundary with no commercial stake, but then now he's been "forced" into owning millions of dollars in Bitcoin through donations.

And people wonder why Satoshi him/her/themselves never bore bore real world identities.

[MoonJeina]

The conflict doesn't seem to go . Some times it becomes very difficult to really understand the market standards . Why is it unethical to own litecoin by the creater of litecoin ? That doesn't support or proves the fact that sudden rise was apparently because of huge holdings with the creator .
Although the fact that Lee is no more supporting  altcoin is a bit disappointing . There must be proper negotiations instead of totally losing the point .

[RejectedBanana]

Imagine if Steve Jobs sold his iPhone to prove he didn't have a conflict of interest in its development.

Nice how he helped and waited for pump before ditching his own technology. Having already profited, he no longer has a vested interest in its future success or failure. He can shrug any losses off while his followers bear any financial bruising. He's all in solely on the honor of his ego now.

What a dolt.