LTC Creator Says It's Silly Not Having LTC Just Because He Doesn't
Charlie Lee, the creator of Litecoin, shows no regrets for having sold all his LTCs. So he told LauraShin in an interview for the Ep. 116 of her podcast “Unchained”.
Charlie Lee has been harshly criticized for selling his tokens in 2017 when LTC was in the midst of a bulllish trend that led it to reach ATHs. This decision led many analysts and enthusiasts to accuse Lee of not trusting his own project.
However, Lee has replied on many occasions thathe did so to free himself from the pressure inherent to market volatility inorder to have more time and willingness to concentrate on the development ofLitecoin at the technological level and as an ecosystem.
The Creator of Litecoin was blunt in hisresponse. He commented that from his point of view, it is very immature to notbuy or trade LTC under the excuse that he sold his tokens:
If you’re not holding onto Litecoin because I don’t have any, then your reason for holding and using Litecoin is just silly to begin with.
Although this happened two years ago, and Charlie Lee was completely transparent with the community, it seems that the sale of tokens is a burden he will have to deal with throughout his life, as his followers do not seem to forget or accept this fact.
The Creator of Litecoin (LTC) Is Not The Only One Who Sold His Tokens
This phenomenon does not exclusively affectCharlie Lee, however, the community has been tougher on him than on other knowninfluencers who have done the same.
Recently, David Schwartz, Ripple CTO, received harsh criticism after selling large amounts of XRP. One user commented that this was a clear bearish flag, pointing out it was suspicious that Schwartz was selling XRP at such a low price.
However, unlike what happened to Lee, withSchwartz much of the XRP Army came in his defense, going so far as to attackthe twitter user who shared this information.
Unlike Lee, Schwartz explained to the community that his motives were oriented towards a “de-risking strategy”, pointing out that having almost all his patrimony invested exclusively in XRP was dangerous for his future and that of his family and that there is no trader who recommends following this practice no matter how bullish a certain good is at the moment.
Lee spoke about other things, however one ofthe most curious moments was when he explained that crypto currencies could notbe compared with traditional financial services because they have verydifferent characteristics:
Litecoin is both a store of value and a payment method. So you can’t compare that to Visa, which is not a store of value. Plus, you can’t compare cryptocurrency marektcaps with businesses.
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