One of the main critiques about Bitcoin is the digital currency’s troubles offering timely and cost-effective payments. Charlie Lee, the founder of Litecoin, foresaw Bitcoin’s future payment issues, and took action by designing a more payments-friendly blockchain.
After earning the nickname, ‘SatoshiLite’, Mr. Lee earned a job at Coinbase, the large San Francisco-based crypto-exchange. Mr. Lee left Coinbase last year. Thereafter, he sold his Litecoin so that he could act more freely as a champion for the digital currency he founded and not be accused of pumping and dumping. Continue reading Litecoin Payments are Quietly Starting to Catch On
Litecoin creator Charlie Lee and the Litecoin Foundation have each apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay, which has sparked allegations of conducting an exit scam due to its abrupt closure. Continue reading Charlie Lee, Litecoin Foundation Apologize After LitePay Vanishes
Litecoin has been and continues to be in a stronger technical position relative to the other cryptos. As you can see in the chart below it is above both the long-term downtrend line and the 200-day moving average (brown line). It broke out above the downtrend line in mid-February and has since pulled back, in a relatively controlled low volatility manner, to test the line as support during the most recent pullback, low of $137.12. Support was strong though as it kicked in above the line at the 200-day MA. Note that support was also seen around the 200-day MA at the bottoms in February. This is all bullish price behavior that should lead to higher prices.
A breakout above the one-month downtrend line will trigger a new bullish signal, and the LTC/USD pair could then accelerate its advance. First, watch for a breakout to trigger on a move above $165.50. Strength is then confirmed on an enthusiastic rally above $175.50.
A version of bitcoin’s much-anticipated Lightning Network is finally ready for real users. Announced today, California startup Lightning Labs has officially launched a beta version of its software (LND), making available what investors and project leads say is the first thoroughly tested version of the tech to date. This means that users can now leverage LND to send bitcoin and litecoin to other users, all without settling those transactions on the blockchain. Continue reading Lightning Labs Launches Beta With Twitter CEO Backing
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