Charlie Lee was questioned on the latest use cases that he was seeing for Litecoin.  In terms of what will make people gravitate towards the use of cases solving real-world problems.  He was also questioned on what happens when he looks at all of the things out there for which Litecoin is being used for, what he thinks is particularly powerful.

Charlie Lee opined that the biggest use case for the cryptocurrency is speculation and store of value. He also felt that it is going to be that way for a while.

With Litecoin, he stated that they were definitely aiming to move more towards payments.  To be able to spend the coins as opposed to just holding onto it as a store of value. So, we want to establish it as a means of exchange. He reinstated that they were definitely pushing towards that. He stated that he is looking towards more and more ATMs coming so that users can easily withdraw their Litecoin, cash out their Litecoin.  He also stated that he would like to have all the exchanges support the Litecoin.

He acknowledged on how liquidity was very important to get Litecoin into the hands of people to use it. And the goal is for it to be money. “Where you store your value, and you also use it to purchase goods.”

Sydney Ifergan, the Crypto Expert, tweeted:  “Maybe as Charlie Lee states in his recent interview in the full inside scoop LTC foundation Litecoin LTC could be used as a store of value and also can be used to purchase goods. Very Soon!”

Litecoin (LTC) Interest-Earning is Quite Important

Charlie Lee also stated that Interest earning is also essential for Litecoin LTC holders.  He noted that it was essential to park money and still be able to generate value from it.

When also expressed his strong opinions on DeFi and what that means and how impactful it could be, compared to mainstream finance and related views. He stated that it all depends upon what one considers DeFi to be. He established that a popular thought about DeFi is that everything is decentralized; everything uses smart contracts, no need to go to any centralized party, and on.  He stated that it was an extreme move and that it was not very viable. He stated that decentralization has a cost.

 With Cryptocurrencies being decentralized currencies, he stated that someone has to bear the cost.  He stated that for something like cryptocurrency, the cost is worth it.  For DeFi, he opined that the complexity of the smart contracts could be leading to hacks and a lot of exploits, and when it happens, he stated that it is going to be impossible to roll back. This, he said, would cause problems. He concluded that he was not very optimistic about DeFi.