Popular trader and cryptanalyst Tony Weiss in his official Twitter account called cryptocurrency Litecoin fraud. He did some research the entire project team and posted an interesting screenshot, dated 2013. Supposedly he wanted to explain why Litecoin is a real Scam.
Initially, the quarrel lies in the fact that Tony Weiss decided to participate in the conference with one of the most odious persons of cryptosphere Craig Wright, who unsuccessfully calls himself the Creator of Bitcoin. It's not like the founder of Litecoin, as he said in his Twitter. I note that the conversation with Liestos Weiss came in a jacket with the inscription "All Satoshi, in addition to Craig". We already wrote about this in our telegram channel.
“Litecoin does not give us anything new”
In his tweet Weiss tried to provide proof that Litecoin, unlike Bitcoin, does not give society anything useful. According to him, “Bitcoin — a new technology”. At the same time, all the alternative cryptocurrencies, including LTC, just the clones that are trying to popularize, to make more money.
Every year all these noobs show up and I have to re-post Luke’s explanation from why 2013 $LTC is a scam… pic.twitter.com/fjqC1wyvyb
— Tone Vays [Bali — Financial Summit] (@ToneVays) October 15, 2019
Tony has shared his message of 2013 from the developer of Bitcoin Core under the name Luke Dashjr, which describes in detail why Litecoin is allegedly a Scam. It including mentions about changing the algorithm of Litecoin mining, with Scrypt to SHA256d. The latter are much more vulnerable to attack and not very friendly with simple consumer hardware. Weiss also draws attention to the faster time unit. He believes this will subsequently lead to uncontrolled increase of the blockchain cryptocurrencies.
Charlie Lee retorted with an analogy of Coke and Pepsi
The founder of Litecoin Charlie Lee Foundation said in response that in fact, “within 8 years the platform has processed transactions to $ 500 billion”. Then he brought quite an interesting comparison.
The fact that I never drink Pepsi and think it much inferior to the usual Cola makes Pepsi a fraud.
The idea is that if more people use Bitcoin, and I believe that surpasses the largest cryptocurrency Litecoin, it doesn’t make Litecoin a Scam.
This all assumes Litecoin is not viable as a currency. $500B are transacted in the last 8 years beg to differ. I use it all the time as money.
Just because I never drink Pepsi and think it’s inferior to Coke, it doesn’t mean Pepsi is a scam. And likewise, Litecoin is not a scam.
— Charlie Lee [LTC⚡] (@SatoshiLite) October 15, 2019
The hype on Twitter
This comment from Lee stirred the imagination of the crypto community. As noted by one of the users of the social network under the name Jack of Hearts, “to compare the volumes of transactions it makes no sense”. But the analogy with the Pepsi to him seemed pretty convincing.
what a shitty argument
what was the volume of Shellfish are transacted in the last 4000 years combined in dollars ?
seconde part with pepsi & coka cola makes kinda sense
— Jack of Hearts (@jhgzudfg) October 15, 2019
Other followers with nick BrainDeadXrpFan wrote that he considered Weis a cheater. He explained this by the fact that Weiss constantly leads people astray, and recommends not to buy anything. Although he constantly multiplies your investment.
I think Tone is a scam. He tries to mislead people into not buying anything but his investment to enrich himself.
— BrainDeadXrpFan (@topcointrader) October 15, 2019
Twitter user under the name Tanzeem also called Weiss a fraud as it takes for their advice 0.3 BTC per hour, but it convinces everyone that Bitcoin could fall below $ 3,000. It is a kind of inconsistent conflict of interest.
@ToneVays scams people charging 0.3 btc/hour and he is still waiting for btc to go under $3000
— Tanzeem (@Tanzeem83) October 15, 2019
There was also a lot of talk about the fact that Litecoin is simply a parasite on the popularity of Bitcoin. In turn, Lee responded to these accusations that just Litecoin much help Bitcoin.
but you sold your project for fiat, betraying the very idea #bitcoin was build to stand for
— Bitcoinivore ⚡ I (@nmeofdst8vM660) October 15, 2019
The Creator of Litecoin also tried to blame the fact that he sold his own project for Fiat money, and it is fundamentally against the principles of Bitcoin and cryptocurrency. It, Charlie said that it’s his money and make decisions about what to do with them, too, he will.
At the end of the skirmish each remained unconvinced. Most likely, Charlie Lee and Tony Weiss are unlikely to shake hands at the next conference, but this is not accurate. As it turned out tonight, trader Tony Weiss and Craig Wright, a jacket with the inscription against which he put on yesterday's event, not so much the enemy.
What do you think, did Litecoin something useful for cryptosphere or Bitcoin in particular? Share your thoughts in our cryptodata billionaires. And don’t forget about the Zen!
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