Litecoin Creator Talks Halving: Everything will be Back to Normal, Community Makes Litecoin Stronger
Most people believe that cryptocurrency’s halving will soar price up. Litecoin serves as a live example of this process as its halving has shaken the market confidence, the anxiety has sparked several speculations regarding mining profitability.
In recent interview, Charlie Lee, the creator of Litecoin said halving pushed up LTC prices to some extent, but it is more likely to be just a self-fulfilling prophecy, he added that
“Halving will not have any real impact on Litecoin. Some miners may choose to shut down temporarily, but after a few days, the mining difficulty will readjust and they will turn on their mining machines.”
Q1: What is the most impressive thing for you since the birth of Litecoin?
Charlie：For me, the most memorable thing is to witness Litecoin helping Bitcoin activate SegWit and participate in the expansion debate. I was excited to see the power of community behind SegWit for Litecoin. This defeated FUDs (fears, uncertainties, doubt) about SegWit. I am really proud of t Litecoin.
Q2: What do you think Litecoin means to Bitcoin?
Charlie: Litecoin is a alternative to Bitcoin. It has a strong network that has never shutdown. Litecoin has its own miner network of ASIC, so it won’t compete with Bitcoin in hashrate. And the transaction cost of Litecoin coin is very low. When the Bitcoin network is crowded, Litecoin is a good way to transfer value.
Q3: Does halving soar Litecoin’s price up?
Charlie: I think halving really helps, but it’s more like a self-fulfilling prophecy. People believe that prices will go up by halving, so they choose to buy, which leads to higher prices.
Q4: What’s your comments on this halving?
Charlie: I think people get much more than they think. Halving will only affect miners and their profitability. Therefore, a few miners might turn off their machines. But after a few days, the mining difficulty will readjust and everything will be back to normal, because they will make profits again. So I think halving will leave little impact on Litecoin’s network.
Q5: Will you leave Litecoin alone in the future?
Charlie: I will finally leave Litecoin alone and let it exist independently in order to achieve real-decentralization. People around me always look for answers from me. So when the obstacles outweigh the help, I will leave.
There is also a great community behind Litecoin, which continue to promote popularization for cryptocurrency. Litecoin’s community has long been promoting the application of Litecoin and Bitcoin.When all people care about price, community will become vulnerable to collapse as bear market run. Only those who have faith in Litecoin can make the community strong.