Charlie Lee news

Creator of Litecoin. Cryptocurrency Enthusiast. Ex-Director of Engineering at Coinbase. Managing Director of the Litecoin Foundation. Active since 2010.

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There’s no point for LocalBitcoins without cash trades, says Litecoin creator Charlie Lee

LocalBitcoins, one of the most popular peer-to-peer cryptocurrency platform in the world, has been in the negative limelight of the cryptocurrency space for quite some time. The platform was first criticized earlier this year for introducing KYC/ AML and later for removing cash trading option, the reason cited being regulatory compliance. This ban led to several people in the cryptocurrency community bidding goodbye to the platform. WhalePanda, one of the well-known influencers in the space, stated that the platform was “going down the ShapeShift route”, adding that it was “completely useless now”, during the 20th episode of Magical Crypto Friends. Other members of the segment, Charlie Lee, Samson Mow, and Riccardo Spagni also voiced their opinions of the P2P platform’s move. The creator of Litecoin, Charlie Lee remarked that there was “no point for LocalBitcoins” without cash trades. He further stated that “they have KYC, they have online trading, then what’s the point of doing LocalBitcoins”. This was soon followed by Mow weighing in, by stating that “it’s just a bad exchange then.” Further, Riccardo Spagni aka Fluffypony, the lead maintainer of Monero, stated that the platform has been “going down a weird road for a long time”. He went on to state, “They completely banned local bitcoins access in Germany and then they started insisting on KYC AML for everyone. you know I not a big fan of where they’re going” This was followed by Lee stating that LocalBitcoins “should be like a decentralized solution,” where it is used by people as a tool to meet up and trade Bitcoins for cash, adding that the “tool should not be dictating” KYC procedure or banning individuals/ countries. Spagni stated that the problem was that the platform acts as an escrow service, thereby leading the path for regulatory intervention. And Lee remarked that this was the case because the platform wanted to “make money, they want to take a cut of the escrow.” “Bisq works in the same model […] uses multisig and a number of other things to create an escrow based peer-to-peer transaction but it just doesn’t involve like some sort of centralized party […] so it’s not like local bitcoins couldn’t have pursued that model they just chose not to […]”  The post There’s no point for LocalBitcoins without cash trades, says Litecoin creator Charlie Lee appeared first on AMBCrypto.
AMBCrypto

Litecoin [LTC] Rises to $130; Estimated Mining Profitability Post Halving: Charlie Lee

Litecoin [LTC] halving is only 56 days away from today. The mining rewards will be reduced by half after the event. Hence, economically, there is a couple of essential questions that arise from the situation.   How does it affect the price? The price of any commodity is primarily determined by the difference between the marginal cost and the marginal profit. Hence, ideally, the Litecoin users would be willing to pay more than the actual price to the miners so that the miners do not run out of business. The prices are being driven by the halving speculation along with the positive effect of the bull market in Bitcoin. The price of Litecoin has increased by 11% since the beginning of the week to reach a high of $130. The price of Litecoin [LTC] at 3: 20 Hours UTC on 11th May 2019 is $127.6; w.r.t to Bitcoin, it is 0.0160 BTC. LTC/USD 1-Day Chart on Bitstamp (TradingView) However, this situation corresponds to a position where the miners are running at par or a no-loss-no-profit situation. Will the Miners Shut Down After the event? Miners or ‘nodes that validate the transactions’ are essential to the operation of the system. Now, if post halving the process starts incurring a loss, the miners might be motivated to switch off their systems. Charlie Lee, the Creator of Litecoin [LTC], has put such apprehensions to rest with the profitability estimate of mining after the event. He said, “Here are some stats on mining profitability. After halving, miners are still profitable with electricity under 10¢. Many are paying only 5¢ and therefore should keep mining LTC post-halving.” Litecoin Mining Statistics Before and After Halving (Source) The mining profitability is expected to be reduced by somewhere between 60-70%. However, the rise in Litecoin [LTC] can be attributed to the same reason. At the current mining situation, even after the halving event, the break-even cost of 2.52 would be met by LTC @ $65. Nevertheless, some also miner incurred losses during the 2018 bear market. Also Read: Brandt Predicts Bullish Litecoin [LTC] and XRP, but Greenspan Suspects Pump and Dump on XRP Furthermore, the increase in price can be sustained if the number of miners increases with an increase in profitability. Due to the fluctuation in prices, people refrain from making capital investments in mining farms. The Hash Rate of Litecoin [LTC] is evidently on the rise. In 2019, due to the halving speculation and end of the bear market, the process has yielded handsome profits in Bitcoin and Litecoin. Do think that the price will grow further? Please share your views with us. The post Litecoin [LTC] Rises to $130; Estimated Mining Profitability Post Halving: Charlie Lee appeared first on Coingape.
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Litecoin Jumps as Charlie Lee Meets Andrew Yang

Litecoin rose about 12% today, bringing up most other cryptos, and considering little else is going on there, it appears the main reason is because Litecoin’s founder, Charlie Lee, met...
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Digital tokens resurrect with value addition after crypto winter

According to OnChainFX, the top 1o legitimate exchanges deliver the trading volume for measuring the real trading volume of the digital assets. Data collected from the LONG HASH website revealed that the majority of tokens had declined to half of their value since attaining the ATH. The most shocking results came out for ETHLend, based on the Ethereum blockchain that used the digital tokens in the form of collateral for transactions. LONG HASH quoted that ETHLend offered a decentralized peer-to-peer smart contract lending in the crypto-ecosystem. The ETH-based token was trending as the investors were constantly using ETH for transactions, which led to its surge before the bear attacks on the market. Tokens such as Holo and Ravencoin maintained their value equivalent to 50% of their ATH as they were initiated after the 2017 bull run. It came as a surprise for crypto users after tokens like Binance Coin and ChainLink underwent resurgence to achieve their ATH, that was higher than the previous ATH mark. Source: LONG HASH As per the graph, tokens achieved their ATHs from December 2017 to January 2018 and then plummeted. Many of the investors missed out on this bull rush in the crypto market. As the market conditions did not remain the same for a longer duration, tokens slipped into the phase, commonly known as the crypto winter, among the digital asset enthusiasts. LONG HASH shared growth rate of ChainLink and tweeted, “Chainlink (LINK) is having a pretty good day”. Some tokens like BNB and LINK have been performing well and the community can take comfort from this. The post Digital tokens resurrect with value addition after crypto winter appeared first on AMBCrypto.
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Stellerro is set to issue tokenized equity through Spanish-regulated Security Token Offering (STO); Public sale opens June 17th

TEL AVIV, Israel, June 17th, 2019– Stellerro, an alternative investment banking platform, automated, in-scale, determined to bring liquidity to the digital era will launch its STO on Monday, June 17th, 2019 at noon ET. Stellerro, a Spanish-Israeli based alternative investment banking platform is pleased to announce the launch of its new Security Token Offering public sale. Self-founded in mid-2018 by an experienced group of entrepreneurs from the Israeli capital markets & fintech industries, all are Blockchain veterans: Aviad Gindi – CEO, Dror Medalion – GM, Elad Kofman -CSO, Noam Barnea -CTO & Liron Rose – Advisory lead. Stellerro was created to assist asset owners, funds, entrepreneurs & startups in taking part in an alternative method of fundraising. Stellerro believes that as the blockchain ecosystem matures, digital offerings will become easier to access and invest in. The ever-advancing secured technology, transparent approach, the inclusion of new financial titans and a strong blockchain congregation are all unified to create the most important thing Investors seek for — Liquidation & Tradability. Stellerro’s funding goal is €5 Million which it plans to utilize for R&D and business development expansion. The company is expected to generate revenue for investors starting Q4 2019, based on its financial projections. The public offering starts on June 17th, 2019 and will last for 2 months until August 16th, 2019. STRO tokens will grant the investors economic rights and dividend from the firm quarterly revenues. To ensure a fully regulated environment, investors will go through KYC & AML procedures in order to acquire STRO security tokens.  Join the public sale today at www.stellerro.com or contact the team for any inquiry at: info@stellerro.com.   Stay tuned for more: Site · Facebook · Twitter · Linkedin · Instagram · Reddit · Telegram The post Stellerro is set to issue tokenized equity through Spanish-regulated Security Token Offering (STO); Public sale opens June 17th appeared first on ZyCrypto.
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Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report

Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report Social media giant Facebook will unveil the Libra Association, which will operate its bespoke cryptocurrency Libra, on June 18, cryptocurrency news outlet The Block reported on June 14. Per the report, Facebook and dozens of its partners will unveil the Libra Association — which […] Cet article Facebook to Unveil ‘Libra Association’ and Launch Testnet Next Week: Report est apparu en premier sur Bitcoin Central.
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