Recent market surveys published by cryptocurrency investment firm Multicoin Capital, attracted great attention.
The article, written by managing partner Multicoin Capital Tukaram Gehinom (Tushar Jain), cited arguments in favor of the erroneous perception of the value of Litecoin (LTC).
In the study described negative factors, which in the future may affect the development of Litecoin. After that, the community began to spread terms about trying to reduce the cost of cryptocurrency, because Multicoin Capital has a short position in LTC.
Yesterday on Twitter, Charlie Lee commented on the analysis Multicoin Capital:
“Has recently been coordinated attempts to reduce the price of Litecoin, participate in them as funds and individuals. I will clarify this situation with fear and doubt and explain why Litecoin is of great value.”
In the report, Jane says that Litecoin is no different from other alithinou, that I noticed that the blockchain backed by mining hardware ASIC in the amount of more than $ 150 million in addition, Litecoin is superior to other altcoins due to the Scrypt algorithm (Hash algorithm).
The liquidity of the coins is quite high, due to what investors can get a high profit, LTC presents most of the exchanges, more than Ethereum (ETH).
Among the negative factors mentioned Lightning Network (LN), however some clients also support LTC LN. In addition, LTC can be exchanged for BTC via LN via an atomic exchange.
Calling Litecoin test network bitcoin, the report argues that the blockchain “test” cryptocurrency is not worth $ 3 billion. Charlie Lee objected on this statement:
“Even if the only use case Litecoin is a test network, you can’t set an absolute value. Relate it to bitcoin. The market capitalization of Litecoin is only 3% of the market capitalization of bitcoin. It’s not much.”
Also Charlie Lee added that Litecoin has helped the bitcoin to activate SegWit as testnet3 bitcoin is not allowed to implement it because testnet3 coins have no value.
The document also stated that Litecoin has zero activity on Github and “development of Litecoin completely stopped, so as the founder of Litecoin sold all my LTC.”
According to Lee, the Litecoin development team is not working on the lead, and it’s good practice Git. Last week the team released version 0.16.2 and 0.16.3 today.
In the end Charlie Lee mentioned partners LTC:
“Litecoin is supported by 9+ payment operators — Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globee, GoCoin LTCPay and TravelbyBit. This makes it easier for businesses accepting LTC as payment. And these traders are very much! #PayWithLitecoin.”
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