Perhaps you’ve already heard (this is hardly breaking news), Mr. Litecoin himself, Charlie Lee (@satoshilite) has fully divested himself of his entire Litecoin holdings.
He announced this yesterday in a post on Reddit stating he wanted to remove all concerns about a conflict of interest.
Over the past year, I try to stay away from price related tweets, but it’s hard because price is such an important aspect of Litecoin growth. And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general.
Plus, he’s donated the proceeds from the sale!
To my mind, I like what’s he’s done.
I’m not generally an overly paranoid person (maybe a bit), so, I’m inclined to trust Lee when he says that he doesn’t try to influence the valuation of Litecoin, or at least that he doesn’t try to profit from it.
However, no person is immune from influence and financial incentives can be strong, so, this is probably the best thing he could have done.
To cap things off, Lee has called out Satoshi Nakamoto (inventor of Bitcoin) in a Tweet:
Satoshi Nakamoto, your move. https://t.co/efKxK3coV4
— Charlie Lee [LTC] (@SatoshiLite) December 20, 2017
What do you think about Lee’s decision?
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