Quote:
Originally Posted by wheatrich
so uh, if the litecoin founder dumps all his litecoins, why shouldn't I? Or everyone else for that matter?
It probably wasn't a well thought out announcement and his timing was unfortunate, but I believe him to be well intentioned if naive.
A few weeks ago I heard him say that he was uncomfortable marketing the coin, as that could be construed as an attempt to pump the price for selfish reasons.
I got the impression that he is frustrated by the slow pace of crypto's acceptance as a viable currency and that he wants to put more effort into its uptake. By selling his stake he thinks he can help move LTC forward without being accused of greed.
Unfortunately the crypto space is over represented by a capitalistic mentality and
it will be difficult if not impossible for these people to understand that his selling probably wasn't motivated by his concern for the future utility and/or value of LTC, but rather by his desire for it to become the global currency he envisions it as.
I don't understand the technology to know if it's possible for this coin to become the one that is used for everyday transactions at the shopping mall, but I guess that's the vision and I like that this guy seems committed to getting it there.
Or maybe I'm the naive one thinking that altruism could possibly be a thing in the current space of cryptocurrency.