Community Trust ScoreVerified
- Litecoin in real-time payments
- More ATMs Coming
- DeFi can cause problems
Litecoin expressed: What have you bought with Litecoin? What and where? Coffee? Computer? Car? We want to hear from you—real-Time Spending with LTC.
Looking back to the past statements: Charlie Lee the past questioned the latest use cases that he saw 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. However, he clarified in the past that he stated that they were aiming to move more towards payments. To be able to spend the coins instead of just holding onto them 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 Litecoin. Litecoin ATLAS.
He acknowledged 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.”
Also, talking about DeFi and decentralization, Charlie Lee, in the past, 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.
He has also expressed his strong opinions on DeFi and on 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. He reinstated that if cryptocurrencies are decentralized, someone will have to bear the cost. He pointed to how for cryptocurrency, the cost is worth it, but on how the complexity of smart contracts can lead to many hacks and a lot of exploits. He said it would cause problems and that when it happens, it would cause problems.
