Litecoin founder Charlie Lee sells his holdings in the cryptocurrency

[junoreactor]

https://www.cnbc.com/2017/12/20/litecoin-founder-charlie-lee-sells-his-holdings-in-the-cryptocurrency.html

(except for some physical ones he keep as collectibles)

Strange to sell his tokens for the reason he gives: he does not want to influence the market?
Or does he secretly believe his coin has no future?

Discuss.

[qazgroup]

I do not think that has to do with the future, it is just his opinion, ltc has been doing really well recently so how can its developer can think negative about it?

[reypinioco]

Its only a marketing strategy he wants you to sell our LTCs so he can buy it back with cheaper price,i heard some rumors that he will join Roger ver's team i hope he wont do that BCash is manipulated.

[NorrisK]

I think this is a smart move.

I'm not sure how much he had, but we don't want a satoshi like thing hanging over litecoin.

Also, by announcing it after he did it, he did not influence the market as the transactions already happened.

[bitofc]

Since he can influence the price, and people always accused him of manipulate the LTC market for his own profit.
Hence he decided to sell off all LTC, and being transparent about it. 
In future, those accusation would not be valid against him.

[bmv143]

it turns out that if he sells all his coins, does it mean that the LTC will fall in price in many ways?

[rockie87]

Every whale plays has a well planned strategy in his mind. This might be his. Why would anybody sell his cryptos when the market is bullish.
Seems like there is going to be another wave in the market .

[pao_de_lo]

Litecoin is a copy of Bitcoin. No innovation. Litecoin copies the code in the test phase and publishes it.

Charlie Lee spreads lies (FUD) about competing projects.

https://bitcointalk.org/index.php?topic=2009251.0

[boyjackyou]

Its only a marketing strategy he wants you to sell our LTCs so he can buy it back with cheaper price,i heard some rumors that he will join Roger ver's team i hope he wont do that BCash is manipulated.

i agree with you its just his strategy to manipulate the newbies to sell their LTCs and after that he will take profits.

[thedec4]

I think he's probably made enough from the coin. So wants to sell it and just see how its future goes. Rather than looking at it and watching the price fluctuate from highs to lows.

[Visin]

Its only a marketing strategy he wants you to sell our LTCs so he can buy it back with cheaper price,i heard some rumors that he will join Roger ver's team i hope he wont do that BCash is manipulated.

It is a marketing scheme though he still might have coins somewhere...the news will write anything while recieving no valid information.

[eldub]

He will buy back in after Litecoin crashes and pump it up again. Short term it is a negative for Litecoin.

[Herlina]

Charlie decided to sell it because of potential conflicts of interest and he promises not to leave Litecoin I believe it but I think he is too naive
Hopefully Charlie can prove his devotion to Litecoin

[sourish]

This move has truly triggered a wave of doubt and uncertainty. Charlie’s opinions and views have a great impact on the Litecoin community and the larger cryptocurrency ecosystem. Just Like he was able to garner support for an upgrade called SegWit. According to him his influence and reach are the reasons behind This decision to sell his Litecoins. And so far it seems to be true.

[CryptoBuds]

This act would seriously influence on the market. What if he knows some insights about the grand correction which will take place tomorrow/next week/next month?

[IamAltcoinfan]

Yes its good to take profit while market is really in bullish trend i sold some of my holding and converted to bitcoin and ethereum . I am not selling bitcoin or ethereum in near future . But charlie lee stands doesn't effect the market.

[Oumal]

it turns out that if he sells all his coins, does it mean that the LTC will fall in price in many ways?

It doesn't mean anything, LTC and so will live and will not disappear
BTC can live without its Creator, and LTC will not be able to?
Just think about how many people invested in this system

[talkbitcoin]

this is a weird announcement in my opinion because of many reasons.

i can see why he would say he has sold all of his LTC. as the article also mentions. but also it may be out of fear of being targeted. having a lot of something that is worth $4 is nothing but having a lot of the same thing that goes to nearly $400 can put you at risk.

also i don't get why "all". a developer in my opinion needs to have some stake in his own creation. having some LTC means the LTC developer believes in what he has created.

[BitNaija]

Be that as it may, to divest from a business you formed can imply 2 things from my opinion. Either you have seen another project that has much interest and you cannot combine both or loss of confidence on the project.

[hdclover]

Nobody knows why he sold all of his coins. Many think he sold just because he can give more interest on the project but I haven't seen someone who sells their coin for this reason. In the end it'll be interepted as 'litecoin founder sold all of his coins because he doesn't believes in it'