Charlie Lee reveals why he sold his Litecoin; says BTC is gold, XRP is diamond

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July 27, 2018 by
Charlie Lee reveals why he sold his Litecoin; says BTC is gold, XRP is diamond

Litecoin creator, Charlie Lee in a recent meeting shared his ideas about cryptocurrencies– Bitcoin (BTC), Surge’s XRP as well as Litecoin (LTC). He additionally disclosed the reason he offered his Litecoins (LTC).

While talking to Chinese site, Lee said that the decision to offer his Litecoins were even more of a relief. He even more included that he took the decision after considering it for nearly 2 weeks. As a matter of fact, the step in fact eliminated the prejudiced opinions, offering him the chance to dig deep on the growth of Litecoin.

See additionally: Litecoin to go neck-to-neck with Ethereum?

He stated, “… it was less than 2 weeks in consideration. After offering it, I feel that there is no stress … Due to the fact that back then I will also publish some forecasts about the movement of the Litecoin market, but it constantly feels a little bit strange.”

Lee thinks that short-term costs has actually got nothing to do with whether the Litecoin is doing good or not. He stated, “The six-month LTC has fallen so much, but it has actually done a great task in development. There have been new partners to sign up with, and also more people have actually begun to call Litecoin.”

Bitcoin (BTC) vs various other cryptos
According to Lee, Bitcoin (BTC) can be stated to be the only point that’s close to gold in the crypto world. He additionally goes on to say that considering its massive fostering rate as well as its good rise in rate makes it useful for people to keep it. He believes Bitcoin will certainly constantly be the “king of cryptocurrency”

He said, “Bitcoin doesn’t should encounter storage space troubles; it’s also really hassle-free to move. For me, he is better than gold in many areas. If you are extra hopeful, the market value of Bitcoin could be more than the 10 trillion market price of gold. More than 100 times the upside.”

Lee’s sight on Surge’s XRP
While mentioning Surge’s XRP, he said that the severe centralization of the coin makes him believe that it’s like a diamond in the crypto verse. Inning accordance with him, centralization permits manipulation.

See likewise: Wirex receives $2 million worth Surge’s XRP deposits in 12 hrs

He said, “There are several opportunities (of finding and also altcoin to look like value), yet Ripple is somewhat like a diamond since its supply is additionally artificially managed. As well as rubies are in fact promoting … If you intend to get a Surge for marriage, it is extremely useful, haha!”

Litecoin (LTC): Digital Silver of crypto-verse
According to Charlie Lee, Litecoin is underestimated versus Bitcoin. The general market value of Litecoin or as he claim “electronic silver” would be below Bitcoin. The primary difference being the charges for refining a block, and also the purchase speed.

He said, “LTC is trading four times faster than Bitcoin (BTC) however Bitcoin is extra made use of. At present, the individual base of Bitcoin as well as Litecoin is reasonably close. Many people use Bitcoin and Litecoin at the same time.”

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