Charlie Lee isn’t one to often be outspoken, yet sometimes he tells the truth how he sees it. He has big ideas and is busy speaking at conferences, along with giving advice to other developers looking to following in the footsteps of Litecoin. So when…
Darth Camel kicked off the argument by claiming he was a serious fan of Litecoin and Lee, but that Lee had done nothing to prove himself in the cryptocurrency industry as of late. Lee responded, asking what Camel thought he needed to prove to anyone.
When Camel framed the question in terms of development, Lee fired back saying Litecoin does not need any development at the moment. He also added that implementing gimmicks does not help a currency succeed; only liquidity, merchants and users help.
When Camel asked for the Litecoin team to at least tweet more often than they have been to ensure people they were still working, Lee responded with an adapted version of a famous JFK quote.
A tough question to answer is whether or not Litecoin truly is in need of any development. It’s become a quite polarizing issue over the past few months as some feel Litecoin developers and leaders are far too quiet. But as Lee believes, that’s because Litecoin does not need any more improvements; it needs acceptance.
In a decentralized economy, the developers of Litecoin are looked to as the leaders. While they technically are not leaders, their words and actions carry more authority among the community than the average user. That thought process is why the Bitcoin Foundation and people like Andreas Antonopolous are authority figures on the subject of cryptocurrency. They don’t have any actual authority, but they are looked toward as leaders of the Bitcoin movement.
Lee’s point is that Litecoin doesn’t need development; it needs acceptance. In response to that need, he’s made the decision to hold his hands in the air and give that task to someone else, and he has every right to. He has no responsibility to undertake the task of promoting the coin. Instead, he’s slightly urging someone in the community to take up the responsibility themselves.
Bitcoin wasn’t successful because community members sat on their hands and waited for someone else to create businesses for them. People decided to take a leap into the world of startups and promote the use of the currency itself.
It seems as though Lee wants people to realize that coin promotion isn’t his responsibility in a decentralized network; rather it’s everyone’s task to contribute to the cause. If Litecoin wants to continue its financial success in the markets, it can’t continue waiting for someone to do something on the community’s behalf.
Furthermore, the Litecoin Association isn’t one of the people sitting on their hands. Andrew, the director of the Litecoin Association also known as The Mage, recently launched a charity campaign called Liteshibes4Christmas. The initiative worked to not only bring their philanthropic efforts to light and give children Christmas money, but was also used as a tool to unite the Litecoin and Dogecoin communities.
Andrew is one of the Litecoin members looking to market the coin not just because he is on the Litecoin Association, but because he’s a member of the community. If Litecoin wants to continue its success, others will need to follow suit.
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Last modified: January 3, 2020 3:30 PM UTC