Charlie Lee, Litecoin is him!
When we talk about crypto-currency, who do you think of? Bitcoin, Ethereum or even Elon Musk's famous Dogecoin? But do you know Litecoin, this new-age cryptocurrency that competes even with the big ones?
Portrait of a man, an inventor, a former crypto miner like some of you.
Charlie Lee's early career:
Born in Ivory Coast, Lee moved very quickly to the United States. He graduated from high school in 1995, and began a bachelor's degree at the Massachusetts Institute of Technology. A bachelor's degree that he completed in 2000, accompanied by a master's degree in computer science.
While his brother became the developer of BTC China, Charlie Lee worked for Google for a decade in the mid-2000s. Having first worked at Kana Communications and Guideware Software.
He wrote code for the Chrome OS application. In 2011, he developed an interest in Bitcoin, created by Satoshi Nakamoto. He is also credited with Youtube Mobile and Google Play Games.
Author of the cryptocurrencies Fairbrix and Tenebrix which only met with a powerful failure, Charlie Lee did not stop there.
This was followed by the development of Litecoin, which he published on Bitcointalk. He claims to have written the blockchain code during his free time at Google.
However, he admits that he does not want to become a rival for Bitcoin. Or claim to compete with it.
Charlie Lee at Coinbase:
In 2013, Charlie Lee made a major career move by leaving his position to join Coinbase, a renowned platform that cryptocurrency enthusiasts and veterans are very familiar with. As one of Coinbase’s first employees, he played a vital role in the company’s growth.
Charlie Lee is a household name in the cryptocurrency world. Before joining Coinbase, he was already active in the industry and had built a solid reputation as a talented and visionary developer. His decision to join Coinbase was seen as a significant boost for the young company, which was looking to make a name for itself in the emerging cryptocurrency space.
Charlie Lee’s arrival at Coinbase was not only beneficial for the company, but also for his own cryptocurrency. Charlie Lee is the founder of Litecoin, a cryptocurrency created in 2011 that has grown in popularity over the years. Thanks to its reputation and expertise, Coinbase made the strategic decision to adopt and list Litecoin on its platform.
Litecoin, the empire:
It was in 2017 that Lee's virtual currency project took a dark turn: he decided to sell almost all of his Litecoin holdings. According to him, due to conflicts of interest.
At least, that's what he posted on Reedit and his Twitter account. A Twitter account that he allegedly used to manipulate the price of his virtual currency and thus encourage the general public to invest in Litecoin tokens.
According to sources, this was not Lee's first attempt. Indeed, the computer scientist allegedly took advantage of his status at Coinbase to boost his cryptocurrency among the company's listing. Indeed, Coinbase refers to itself as one of the most important sites in terms of virtual currency. Consequently, they did not welcome just any blockchain into their listing. Many accuse Charlie Lee of abusing his power within Coinbase at the time.
The question arises: did Litecoin really deserve its place on one of the largest reference platforms? In any case, now yes.
Why such accusations?
The date of Litecoin’s implementation corresponds to the date Charlie Lee joined the company. Which means that there is a good chance that he implemented it himself.
Lee owned Litecoin tokens when the cryptocurrency was integrated, which allows the suspicion of a stock market rise thanks to mining carried out by his own person.
The Litecoin community was inactive before the implementation at Coinbase, and only the appreciators of the currency wanted its implementation. Charlie Lee probably wanted it too.
The sale of his tokens occurs shortly after the accusations of manipulation. A shot in the foot, when we consider that Litecoin’s potential was at its peak at that time. To make up for it, Charlie Lee announced that he no longer owns any LTC tokens. Except for a few veterans that he keeps as a commemorative.
Current activity
Currently, Lee works full-time on his own cryptocurrency. In fact, he founded the Litecoin Foundation in April 2017, shortly before the resale of his tokens and the accusations. If at the beginning the project was only a promotion of Litecoin, Lee now uses it as a full-time work platform.
A company that he founded himself after resigning from Google, although we cannot applaud Litecoin's current popularity rate: the cryptocurrency, as much as its community, are slowly dying.
Only a real financial leap remains able to help him.
Conclusion
Like all influential people in cryptocurrency, Charlie Lee democratizes and adds a solid and heavy stone to the building. Litecoin still remains one of the references of virtual currency today.
But does this justify his actions?
Of course, Coinaute hardly has the absolute answer to the accusations. For this reason, we give Charlie Lee the benefit of the doubt. In any case, no one justifies harassment, insults and hatred directed at a human being, and even less so a public figure.
Public does not mean letting off steam.
If Lee wants to return to the scene, he will have to be ingenious and intelligent in the way he places his pawns on the chessboard: the competition is getting tighter as time goes by. It remains to be seen whether Charlie will end up stuck in the grip of the past.
