Community Trust ScoreVerified
There was a hoax Walmart Partnership announcement from Litecoin. Following the hoax news, the price of LTC went up by 20%. However, the price plunged after Walmart debunked the fake news of partnership.
The hoax news was that Walmart was accepting payments in LTC. Holders of Litecoin were excited and the market went haywire. It looked like a change of fortune for LTC, because most of them were losing confidence over LTC and their capability to bring novelty.
Charlie Lee, CEO of the Litecoin Foundation, explained that Walmart was attracted by the quick and cost-effective transactions times of Litecoin.
After Walmart denied rumors about accepting LTC, Litecoin Foundation, expressed, “The Litecoin Foundation has not entered into a partnership with Walmart.”
Community response was crazy: But Litecoin shared the news? Explain please.
You guys realize LTC is decentralized? Pump and dump is reserved for the ICO’s / tokens. Maybe some decentralized scammers pumped their own bags to sell a little bit higher, but whatever. The price was just 230’s weeks ago. Wake up. Nobody has to explain anything it’s decentralized.
I don’t care about the price going up or dropping down as a long-term Hodler, I know the price will rise anyway. What I am concerned is why Litecoin itself does not know whether they are in partnership with Walmart or not.
The problem probably was from person or persons operating @Litecoin Twitter. Logically they are to be the people behind this right?
Well I believe the problem was not from the person who controlled @Litecoin twitter account. That account is not official account. I believe he’s just like us who read the news and are excited to share. Even the big media posted it first. So, it is quite unfair if we blame him.
It has a blue checkmark from Twitter so to an average person, it is official as it can be. I know it is different from LTC Foundation, but that is not the point. I guess it is plausible, it was hacked, which is what every official account on Twitter says if something goes awry.
Dude, even LTC foundation is separate. They can say whatever the hell they want. They were polite in deleting it, but it was no way legally responsible. So, every official account who tweeted Russia Gate Shit is prosecutable? Nah it’s free speech about decentralized asset.
Free speech is not an excuse, free speech is fine and no one is arguing that, but in regulated industries such as the stock market, there are consequences and it is prosecutable. While, we don’t t have that for crypto, this is what hurts us as a whole.
So true, I was reading from Reuters and CNBC. Then, I thought it was real and some minutes later I saw the tweet from Litecoin and I never thought big media like them posting fake news.
