Home Altcoins News Litecoin (LTC) Fake Rebranding Community Donations Roadmap and Price Hike

Litecoin (LTC) Fake Rebranding Community Donations Roadmap and Price Hike

Litecoin LTC Fake Rebranding

In response to how high in price do you think LTC will reach? David Schwartz replied, I really don’t get into that, unfortunately. I tried guessing last bullrun and was way off, so I just try to plan for any potential liquidations due to life events.

Litecoin averaged 1.43 transactions per second the past 24 hrs. To put that into perspective, the high during the 2017-18 LTC Bull Run was 2.62.  The main difference is that this time around, the transactions per second is boring and normal, not at the peak of a crazy market top.

Also, recently there was a fake rebranding to BitcoinLite and this in turn led to Litecoin rally.

The fake announcement came from Litecoin creator Charlie Lee via Twitter claiming that Litecoin is getting rebranded to BitcoinLite, just like Satoshi Nakamoto intended.

To make things look more authentic, Lee posted a version of Bitcoin’s whitepaper in which he highlighted the letters LITE and further linked it to the Litecoin Foundation’s official website which has been re-named BitcoinLite Foundation.

The home page read “Just like Bitcoin. But ‘Lite’er!” adding that Bitcoinlite is “4 times more scalable than Bitcoin” with higher transaction fees and a supply of only 84 million coins. To make things more real it even provided users a BitcoinLite Wallet. This also contained messages which made the rebranding information look very authentic.

The messages spoke about how there was lot of intense back and forth discussions happening with the Litecoin community to ensure they have a rejuvenating marketing campaign to establish “BitcoinLite”.

They also tried to give a relevant and admissible reason like the rebranding as being supposed to be an opportunity meant to capture new investors who are “confused” by the different forks of BTC (Bitcoin Cash, Bitcoin SV, Bitcoin Gold). Also, that these investors think that each of these versions is the “real BTC”. And that the “Bitcoinlite Foundation” could gain new followers that “we’d previously been missing”.

However whether for fun or April Fool, it was not really ethical because there were several LTC investors who bought in to this rebranding idea and obviously they are now disappointed.

There was also a fake roadmap, there were solicitations for community donations to achieve this task. No matter what the going gained well after this news.  The new financial year for LTC seemed to have started to kick off with a bang; however, this charisma will fade and there need to be something solid for them to enjoy a sustained price hike throughout the year.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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