James Levenson | Feb 02, 2018 | 02:15
The crypto-sphere is full of scuttle-butt and rumor. If zero else it keeps hopes high in times of adversity, such as right now. Altcoins can go up on a shill or a siphon from a whale, and back down on the widespread of FUD opposite amicable media. It is distinct any other marketplace and is driven mostly on incentive at times. Because it is still an rudimentary industry, connectors can be drawn between vast determined companies, cryptocurrencies, and intensity blockchain adoption.
Crypto-land vented with conjecture when Charlie Lee sole off his Litecoin accumulate and hodlers were left wondering how the silver would tarry but the master. Litecoin erupted in Dec sharpened up over 300% in just over a week. It surfaced out at around $370 and has been on a downward slip ever since shedding over 60% in the process.
According to ZeroHedge, there were accusations of insider trade since Lee was the former Director of Engineering at Coinbase. He has vehemently denied any of this, stipulating that the sale was to equivocate any intensity dispute of seductiveness with any other companies that might be looking at Litecoin adoption. Lee apparently made a bucket bucket of money from the selloff but can now Tweet divided with impunity. Additionally, Litecoin started the downward turn just after Bitcoin Cash was combined to Coinbase. Both BCH and LTC are softened versions of BTC in terms of transaction speeds and costs.
Litecoin, Coinbase, and Facebook – Connecting the Dots
About the same time as Lee’s money out, Coinbase announced the appointment of Facebook executive David Marcus to their house of directors. Marcus was conduct of Messenger at Facebook and President of Paypal before to that – he has copiousness of knowledge with mobile-first tech. Following that, in early January, Mark Zuckerberg posted that he is “looking into” cryptocurrency:
With the arise of a small number of big tech companies — and governments using record to watch their adults — many people now trust record only centralizes energy rather than decentralizes it. There are critical counter-trends to this – like encryption and cryptocurrency – that take energy from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control. I’m meddlesome to go deeper and investigate the certain and disastrous aspects of these technologies, and how best to use them in our services.
Earlier this week, the amicable media hulk announced that the height would be banning adverts for ICOs and cryptocurrencies and what the association termed “financial products and services frequently compared with dubious or false promotional practices.“
Just like Lee’s selloff to equivocate dispute of interest, Facebook’s banning of intensity competitors could be right up the same street. If the association was honestly meddlesome in safeguarding their users from ‘deceptive practices’ it would take more movement opposite brute members handling on the height to widespread scams, clickbait, and fake websites. Facebook is still a hotbed of duplicity and duplicity with or but ICO advertising, most crypto groups are tormented with this digital detritus. Removing crypto promotion could pave the way for a new partner, it is doubtful to have anything to do with preventing scams.
Whether Facebook partners with Litecoin still stays to be seen, however, Charlie Lee left some breadcrumbs last year by tweeting that 2018 would have one outrageous warn for Litecoin:
The Litecoin group has been hard at work operative with companies to support Litecoin. Nothing to announce yet, but here’s what’s in the works:
Popular online wallet
Goods trade platform
One outrageous astonishing surprise. 😀
2018 will be a good year for Litecoin!
— Charlie Lee [LTC] (@SatoshiLite) December 20, 2017
Either way, bigger things everywhere for cryptocurrencies in 2018 if only everybody could get over the tsunami of mainstream media FUD and concentration on the principle and technology.
[Disclosure; the author of this essay is a hilt of Litecoin (LTC).]
Will Litecoin be increased by a new partner in 2018? Who will that partner be? Add your thoughts below.
Images pleasantness of DepositPhotos, Litecoin