Tag: Litecoin

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Greek Property Listed For Crypto

There is property on an island that is on sale currently. While this alone would not be considered groundbreaking news, the fact that the island will be sold for cryptocurrency obviously was praised by the cryptocurrency community.

The property consists of over 2 acres on the island of Lemnos in Greece, and can be bought with cryptocurrency. The cryptocurrencies that can purchase the acres are as follows: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Zcash (ZEC), or Euro.

About The Property

The property is located outside of Moudros, Greece, which is the second largest town on Lemnos, the eighth-largest island in Greece. The property boasts “panoramic views of the Aegean Sea”, as well.

History fans might be interested to know that Lemnos was the island of Hephaestus, the god of fire and volcanoes, and is known for volcanic rocks, beaches, and gulfs. The surrounding region also boasts tourist attractions such as The Medieval Castle Of Myrina and the cave of Philoctetes.

For those that are unaware, Philoctetes was considered a hero of the Trojan War, and known for his archery skills. He was the subject of four different plays of ancient Greece, although the only one that survived was a play by the Sophocles, who is one of the most well-known Greek tragedians of all time.

More Information

For those who are interested, the property is available for sale for a fiat equivalent of $180,000. The listing also boasts that there are “water and electricity sources nearby”, so someone interested in building a property would have access to these sources, presumably.

The property is also close to Poliochni, believed to be one of the oldest civilized towns in Europe. It is a community that has been around for over 4,000 years. The listing is proof that there are more individuals interested in listing their property for cryptocurrency. This particular listing is available on the website Bitcoin Real Estate.

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Remittance On The Rise Thanks To Cryptocurrency

One of the reasons why cryptocurrency enthusiasts are optimistic is the fact that cryptocurrency allows money to be sent quickly and more efficiently than fiat currency. For those who follow cryptocurrency news, this isn’t new. However, a new report shows how that potential is finally being utilized.

While traditional financial institutions increase revenue thanks to their fees, cryptocurrency allows individuals and business to move massive amounts of money for an extremely low transaction fee in comparison. For example, over $60 million of Litecoin was recently moved for fifty cents, which was news that was celebrated by Litecoin fans:

New Report

The report was conducted by Clovr, and illustrates how more individuals are using cryptocurrency as a way to send remittance payments. This means that more foreign workers are choosing, because of its efficiency and speed, to use cryptocurrency to send money back home to their loved ones.

The report elaborated how this most often meant that the money was sent to a family member. In fact, over 3 of the 4 individuals surveyed reported sending crypto to a family member. However, they might also be sent to a friend or acquaintance. These payments might involve making sure that loved ones have enough to afford food, or can maintain certain household items, or housing payments, as well.

Remittance

The truth is that remittance involves hundreds of billions of dollars transferring hands, which is why many believe that cryptocurrency will be the future of the sector. That is why Ripple has gained so much traction, as many believe that it will be the cryptocurrency that can truly partner up with financial institutions to offer real-time payments. Stellar has also partnered up with IBM to offer “Blockchain World Wire” payments, as well.

The fact that Facebook is reportedly developing a stablecoin cryptocurrency for Whatsapp in order to enter the global payments sector also shows that various companies are all interested in the sector’s growth. Ultimately, the study confirmed that remittance is on the rise largely thanks to cryptocurrency.

One statement from the study that exemplifies how much potential there is in the sector, reads as follows: “People sending money home after they’ve migrated from other countries to the United States is a practice that will likely continue far into the future… As individuals look to make sure that as much of every dollar they send can make it back – as close to a one-to-one match as possible – digital payment options, like those presented by cryptocurrencies, can pique the interest of customers.”

 

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Charlie Lee Trying To Increase Litecoin (LTC) Adoption

One of the most famous figures in cryptocurrency is Charlie Lee, the founder of Litecoin, even though many people these days question his credibility. For those who ask why, many still believe that Lee announcing that he had sold all of his Litecoin roughly a year ago affected the price dramatically, and long-term investors felt betrayed by his decision. His announcement was made almost exactly a year ago, on December 20, 2017.

Details Of Sale

It’s important to note that many are mad because Lee happened to announce his decision to sell Litecoin around the cryptocurrency’s all-time-high, which obviously led many individuals in the cryptocurrency community to feel skeptical about his intentions.

For context, around the time that Lee announced that he had sold all his Litecoin, the cryptocurrency was trading well over $300. In fact, when Lee announced that he had sold all of his holdings, it was a day after Litecoin reached $375.

In a recent interview, Lee felt like the criticism was unwarranted. Specifically, he stated: “People lose money and they want someone to blame. And they think for some reason I had inside information, and that’s silly. At the time when I sold, everyone thought it would go to $1,000.” It is also important to note that he refused to disclose how many Litecoin he owned in the same interview, as well.

Focus On Adoption

Lee has shifted gears, claiming that his main focus on making sure that more people use Litecoin in general. For example, he is on the advisory board for the new HTC crypto-friendly smartphone called “Exodus”. Lee tweeted about the phone earlier this year in late July:=

https://twitter.com/SatoshiLite/status/1023760115852144642

It makes sense that Lee should focus on mainstream adoption, because of the bearish year in terms of cryptocurrency prices. For some context, Litecoin is currently trading – as of press time – at just above $35, which is not even 10% of Litecoin’s all-time high price. The market capitalization of Litecoin is just over $2 billion as of press time, as well.

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Coinbase Moves Billions In Crypto

If you are a cryptocurrency enthusiast, or trade/invest in cryptocurrency; there is little doubt that you are aware of Coinbase. The San Francisco-based cryptocurrency exchange is widely considered one of the most important companies in the sector, and has been valued in the billions, despite the fact that it has been a tough year for cryptocurrency markets in general.

For example, while other cryptocurrency exchanges were struggling, Coinbase was featured in the opening credits for the hit HBO TV show Silicon Valley, which many in the cryptocurrency community took as a sign that more people are aware of the cryptocurrency markets and their potential.

Moving Billions

The exchange’s importance was shown again in a tweet, where the company confirmed the fact that it moved billions in cryptocurrency funds into cold storage. The announcement was made in a tweet. Specifically, Coinbase announced that it had moved “5% of all BTC, 8% of all ETH, and 25% of all LTC in circulation to our next-gen secure cold storage.”

https://twitter.com/coinbase/status/1075465004629995521

In the associated Medium post, Coinbase boasted that it could be the “largest crypto migration on record”. The post elaborated that this was not a sudden move, but Coinbase had been preparing for the migration for some time now. Specifically, the post stated that the company “conducted risk assessments, honed monitoring plans and conducted test migrations until we were positive that the live migration would go off without a hitch.”

Cold Storage

Coinbase also seemed to take a bit of a nostalgic look back at memory lane to remember how much its grown, and how much its definition of cold storage had changed. In 2012, Coinbase simply placed keys in a safe deposit box. Obviously, the company has grown immensely since then, and its definition of “cold storage” is radically different.

The company elaborated that these days, the company utilizes Coinbase Custody, a secure foundation with a highly controlled and audited key generation process and continue with a globally distributed key storage and transaction approval system.

It seems like Coinbase went out of its way to explain that moving this amount of cryptocurrency was not something that they took lightly, and even ended the blog post to point out that they were hiring anyone who might be interested in helping keep the exchange as secure as possible.

 

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Teenage Bitcoin (BTC) Millionaire Not So Bullish

Erik Finman is one of the most famous rags-to-riches stories in Bitcoin history, and it might be because of his age. Specifically, Mr. Finman used a gift from his grandmother to begin purchasing Bitcoin, beginning in 2011.

 

This means that Finman was purchasing Bitcoin since he was 12, and was able to turn $1,000 into much more. In fact, during the infamous cryptocurrency bull run of 2017, Finman was worth millions – not bad for a young man who still cannot legally drink (The legal drinking age in the United States is 21).

Is It Over?

While Finman was clearly a young adopter of Bitcoin that truly saw its potential, it appears that he has completely changed his tune about the cryptocurrency markets. He states simply: “Bitcoin is pretty much dead”, in a recent interview.

Mr. Finman believes that there is far too much discord and chaos in the cryptocurrency community. He elaborated: “Bitcoin is dead, it’s too fragmented, there’s tons of infighting. I just don’t think it will last. It may have a bull market or two left in it, but long-term, it’s dead.”

In January, CNBC confirmed that FInman owned 401 Bitcoin, although his current holdings are unclear. Ironically, during that time, he seemed to argue against critics of Bitcoin, stating: “Bitcoin is just as real as fiat money, except Bitcoin can’t be printed endlessly.”

Quite The Ego

While Finman is a young man, many have pointed out that he appears to be quite egotistical. For example, in his article in The Guardian, the featured image shows Erik on the floor with cash in his mouth, and all around him. The article also points out that he is constantly flaunting his wealth on his Instagram page, as well.

Finman claims that this is all strategic. He states: “I think being a provocateur is a fun way to get people to pay attention to my ideas,” he tells me over the phone from his current base in San Francisco. “You see the reaction to it, people go crazy. But that helps draw attention to the actual world-changing projects that I want to do.”

Finman, unlike other cryptocurrency enthusiasts, also has the distinction of being verified on the Twitter platform. In a recent tweet, Finman points out that he has no loyalty to Wall Street, and that he had actually been successful with his Bitcoin investments, so his statements should be taken seriously:

https://twitter.com/erikfinman/status/1073672466793402368

 

He also elaborated about specific cryptocurrency projects, stating that he believed Ether and ZCash had potential, but were not being marketed properly. One project he criticized specifically, however, was Litecoin.

Finman said: “Litecoin has been dead for a while,” he said. “It’s like when the sun is going down and there’s that eight minute period just before it goes dark. Litecoin is in its seventh minute.”

 

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Charlie Lee, Creator of Litecoin (LTC), and Justin Sun, Founder of Tron (TRX), To Speak At Token 2049

There is no doubt that one of the most well-known figures in cryptocurrency is Charlie Lee, the founder of Litecoin. Unlike Bitcoin – Litecoin actually does have a founder that is visible, and who actively tweets about cryptocurrency and blockchain technology. Lee has a significant following on Twitter, for example, boasting over 800,000 followers.

Justin Sun is also considered one of the most important figures in the space, as he is the CEO of Tron. Tron (TRX) has been gaining traction in the markets, and recently broke back into the top 10 cryptocurrency projects in the world (by market capitalization).

The two will be speaking at Token 2049, which will apparently be the “flagship event” of Asia Crypto Week, which will take place from March 11 to March 17 in Hong Kong, China.

Previous Twitter Feud

When Tron (TRX) was gaining more interest earlier this year – many Twitter users obviously asked Charlie Lee for his thoughts on the project. Instead of saluting the progress of the project, Lee decided to pretend that he had never heard of it, and instead referenced the movie Tron in a tweet. Lee then included a GIF of Tron: Legacy, the 2010 sequel to the 1982 science fiction film Tron.

https://twitter.com/SatoshiLite/status/948820253034758144

Many felt that this was essentially an insult to Tron. When a Twitter user pointed out that Lee should refrain from the insults, because some of the same individuals who invested in Litecoin also invested in Tron, Lee didn’t seem to care. He responded: “What’s TRX? Never heard of it.”

https://twitter.com/SatoshiLite/status/949223088587067393

One of the most controversial moves made with regards to cryptocurrency involves the fact that Charlie Lee chose to sell all of his Litecoin holdings. There were many long-term Litecoin investors that questioned why he would sell Litecoin, considering that he consistently boasts about its long-term potential. They felt as though this was a betrayal, of sorts – and that even if it was his right to sell his own Litecoin, that he could have kept that information private.

Justin Sun referenced the fact that Lee had done this when he chose to fire back on Twitter:

https://twitter.com/justinsuntron/status/948966939245797376

Lee felt that Sun was misrepresenting the facts, and responded yet again:

https://twitter.com/SatoshiLite/status/948984352620232704

Resolution

The two seem to have resolved their differences since then. Although many believe that Charlie Lee had acted childishly, and Justin Sun had simply responded in kind – Lee tried to paint the picture differently.

Charlie Lee pointed out that if investors really believed in the project, some fear, uncertainty, and doubt (FUD) is “only a speed bump”. He added, “When you are a top 10 coin, you need to be able to survive some FUD.”

https://twitter.com/SatoshiLite/status/950270076053159936

Justin Sun seemed to agree with this sentiment, and seemed to imply that the two could have a positive effect on the cryptocurrency world if they wanted to.

https://twitter.com/justinsuntron/status/950374626089091073

 

Interestingly enough, Litecoin and Tron are the #9 and #10 cryptocurrencies by market capitalization currently. The market capitalizations of Litecoin and Tron, respectively, are around $1.46 billion and $891 million, as of press time.

About the Event

Asia Crypto Week is described as such: “Asia Crypto Week is a week of various independently organized educational and developer-focused events that aim to nurture mass adoption by providing first-hand information about the industry. Blockchain enthusiasts and industry veterans will come to Hong Kong to share their knowledge and stories during Asia Crypto Week, providing exceptional insights into the ever-larger growing ecosystem.”

Token 2049 in particular will take place from March 13th to March 14th, and has announced its first 40 speakers. In addition to Charlie Lee and Justin Sun – there are other speakers that are extremely well-respected in the blockchain/cryptocurrency space that will be speaking, as well. This includes individuals such as Max Kordek, the president of Lisk, Will Peets, the Chief Investment Officer of Passport Digital Holdings, and Bill Barhydt, the founder and CEO of Abra. An account associated with the event tweeted about the speaker list, which Charlie Lee retweeted:

https://twitter.com/token2049/status/1072581543883874305

 

You can find more information about Token 2049 here: https://www.token2049.com.