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Author Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched!  (Read 1466175 times)
Totscha
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March 26, 2018, 08:24:31 AM
 #5821

Looks like my LTC payment was stolen today as it was moving from Zergpool to Graviex exchange.  Is LTC an unsafe coin for sending transactions?  I've never had my payments stolen using any other altcoin.

What would anyone suggest as a more secure coin to use to transfer medium size transactions?  Thanks!

Nobody can steal a payment. Someone can hack your computer/email and steal coins from a wallet/exchange.

What exactly happened?
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kobo_eth
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March 26, 2018, 11:26:50 AM
 #5822

Live feed: there goes the next in turn crash of the market SmileySmileySmiley LTC down with 10 USD in a glimpse.
Who will buy the dip?

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March 26, 2018, 07:14:04 PM
 #5823

CEO of LitePay, informing that he has ceased all operations and is preparing to sell the company.

https://litecoin-foundation.org/2018/03/announcement-on-litepay/
clixcoin
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March 26, 2018, 07:26:15 PM
 #5824

CEO of LitePay, informing that he has ceased all operations and is preparing to sell the company.

https://litecoin-foundation.org/2018/03/announcement-on-litepay/

That is terrible news this will put more pressure on the entire network and I think price will go little down. Some serious concerns from the CEO which need to get cleared let's see what happened next.
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March 26, 2018, 07:28:08 PM
 #5825

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !

bitChipper
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March 26, 2018, 08:01:37 PM
 #5826

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !

Big setback, leaves a gaping hole in the 2018 roadmap....

Wonder how jsnip4 and trader boss will remain bullish  Cheesy Cheesy

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March 26, 2018, 08:07:11 PM
 #5827

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !
Many fully believed that the foundation was involved, or Charlie was involved, etc. While it is important for the foundation and the community to encourage and support innovators within the space, giving a sense of approval causes too many to accept something without doing due diligence.
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March 26, 2018, 10:26:58 PM
 #5828

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !
Many fully believed that the foundation was involved, or Charlie was involved, etc. While it is important for the foundation and the community to encourage and support innovators within the space, giving a sense of approval causes too many to accept something without doing due diligence.


yeah....they were not hands-on and got taken it seems...so what is the reason to HODL LTC for 2018 now?

Indeed, all alts are looking iffy..it also does not help that a massive dump of scrypt-pow equipment, mainly L3+'s (LTC) are dumping from bitmains forced wait from Dec 15th

to March 15th ... amazing how difficulty doubled since then.....no real equipment in that time...boy..you think maybe GASP the majority of doubling of difficulty was bitmain...

(say it ain't so, Jihan!) ...funny how that seems to be the case...

Bitmain: (found another thing to play rinse/wash/repeat with ..pre-orders for 4 months for an asic dump at that end of that point in time.....evil pays!) (tm: bitmain)





Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:)
denysrodman
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March 26, 2018, 11:19:03 PM
 #5829

Would-be Litecoin merchant processor LitePay has abruptly terminated its operations, the Litecoin Foundation announced in a post on its website on Monday.

LitePay - which also claimed it would offer a crypto wallet and "LitePay debit card" through which users could convert litecoin into U.S. dollars - was unveiled in December of 2017 and set to launch in February of this year. Data from OpenGovUS shows that LitePay Inc. started operating on February 1.

The proposed business venture had won plaudits from the Foundation previously, which took to Twitter in December to write: "Finally, someone is taking the opportunity to create litepay.us. Good job!"

However, as of February 26, LitePay had only started to roll out its merchant service, according to a post on Twitter. The last public messages from the company related to a mid-March Ask Me Anything session on Reddit, and an email account listed on LitePay's website did not reply to a request for comment by press time.

The foundation, which oversees development of the cryptocurrency, said in its post that it contacted the business' founder and CEO, Kenneth Asare, following the AMA on March 16, expressing concerns regarding the "less than transparent nature" of LitePay. It was then that Asare revealed that he had decided to halt operations and planned to sell the company.

The Foundation's post further explained:
Quote
It was at this time that Kenneth asked the foundation for more funds to continue operations. The foundation refused any further funding as he was unable to provide a satisfactory picture of where the money had been spent and refused to go into exact details about the company and show objective evidence to back up his statements

Both the Foundation and litecoin founder Charlie Lee expressed regret for their support of the project.

"Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs," Lee wrote on Twitter. "I am sorry for having hyped up this company and vow to do better due diligence in the future."

The Litecoin Foundation made a similar statement in its post:

Quote
We are greatly disheartened that this saga has ended in this way and we apologize for not doing enough due diligence that could have uncovered some of these issues earlier. We are currently working hard to tighten our due diligence practices and ensure that this does not happen again.

Nonetheless, the Foundation struck a hopeful tone.
jackmuu
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March 27, 2018, 10:56:51 AM
 #5830

Check out this video that explains how LitePay cancellation will effect Litecoin by SkrillaKing.
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March 27, 2018, 10:59:17 AM
 #5831

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !
Welcome to LitePay! Has LitePay been launched? Which services this one bring to Litecoin community and crypto-users.?

Totscha
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March 27, 2018, 11:02:39 AM
 #5832

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !
Welcome to LitePay! Has LitePay been launched? Which services this one bring to Litecoin community and crypto-users.?

Do you even?
denam
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March 27, 2018, 05:40:33 PM
 #5833

That was a big plus for Lietcoin but if someone think whole project and market of LTC was running based on this is wrong in thinking. This will have its effect on LTC which can not be denied but it will recover from this surely. I even think before this announcement coming out surely behind the scene some alternatives were taken in consideration by SatoshiLite.
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March 27, 2018, 07:14:01 PM
 #5834

Charlie got the ideas ( LitePay, LitePal ), why not pursue it on their own and rest on others to do it ( and have another LitePay "inc" failure again ) ?
Cimmy_revenger
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March 27, 2018, 07:53:12 PM
 #5835

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !
this is the main cause of the decline in LTC prices in the last few days.
but because it was found the location of the problem, then as soon as Developer will fix it and we will enjoy the results later.
so , on this day is good time for buy LTC.

dolcevita99
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March 28, 2018, 10:13:04 AM
 #5836

CEO of LitePay, informing that he has ceased all operations and is preparing to sell the company.

https://litecoin-foundation.org/2018/03/announcement-on-litepay/

Is this really true? I wonder who will agree to buy it and how soon it will happen
Totscha
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March 28, 2018, 11:43:59 AM
 #5837

CEO of LitePay, informing that he has ceased all operations and is preparing to sell the company.

https://litecoin-foundation.org/2018/03/announcement-on-litepay/

Is this really true? I wonder who will agree to buy it and how soon it will happen

Yes it's true. There is nothing of worth to buy. Nobody needs it.
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March 28, 2018, 01:07:43 PM
 #5838

CEO of LitePay, informing that he has ceased all operations and is preparing to sell the company.

https://litecoin-foundation.org/2018/03/announcement-on-litepay/

Is this really true? I wonder who will agree to buy it and how soon it will happen

Yes it's true. There is nothing of worth to buy. Nobody needs it.
yes i have read a tweet about litepay of charlie lee
and you are right litepay is no more worth to buy
but maybe after sell the company the new buyer will start it from a new idea and apply new developments
but right now its big risk to get in litepay.
lonesomestranger
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March 28, 2018, 07:21:35 PM
 #5839

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !
Many fully believed that the foundation was involved, or Charlie was involved, etc. While it is important for the foundation and the community to encourage and support innovators within the space, giving a sense of approval causes too many to accept something without doing due diligence.

I didn't say this issue will kill LTC, Litecoin will do great with or without Litepay, I am aware of that and also I am a LTC fan, but it has a short term negative impact, I can't deny that!

lonesomestranger
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March 28, 2018, 07:42:30 PM
 #5840

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !
Welcome to LitePay! Has LitePay been launched? Which services this one bring to Litecoin community and crypto-users.?

You should get an award for this question, but to answer you, LitePay it was over before it started! It would've brought many improvements in crypto debit card area, but it's never too late though!

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