In a YouTube interview with Julian Hosp from TenX, published a couple of days ago, Charlie Lee, creator of Litecoin and former chief of engineering at Coinbase, said that, in order for Litecoin to be truly decentralized, he may eventually need to step away.
The whole interview is just 35 minutes long and I embedded it below, if you want to watch it by yourself:
The most interesting parts, for me, are the ones in which Lee touches the leadership and vision areas of both Bitcoin and Litecoin. While saying the two assets are complementary, he also stresses the differences between them. The fact that Satoshi Nakamato is still an unknown persona allowed for a much bigger and more decentralized community to gather around the Bitcoin concept. If Litecoin would be to walk in the same footsteps, then Lee would eventually have to leave.
If you don't remember, Charlie Lee recently sold all his stack in Litecoin, citing "conflict of interests" reasons.
One notable difference between Litecoin / Bitcoin and STEEM, is that the former are PoW-based and the latter is DPoS-based. DPoS allows, in my opinion, for a larger degree of governance flexibility than PoW, and that may, eventually, increase the overall resilience of the entire ecosystem.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Vitalk has criticized DPoS quite heavily in one of his latest posts: https://vitalik.ca/general/2018/03/28/plutocracy.html
DPoS blockchain may turn out to be really vulnerable to gov. manipulation as they are a number of ways to blackmail/control the delegates once they're identified in the real world.
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I know Vitalik is not very fond of DPoS. I don't think it's perfect also. I just think it's way better than PoW.
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So many coins and I think only one will really rise at the end ! That’s my guess.
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Honest man!
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Well, that's interesting! I always thought that it is a pretty healthy thing that Satoshi Nakamoto is still an unkown persona. Do you imagine what it would happen if Satoshi himself would come right now and say that Bitcoin is the true coin and Bitcoin Cash has no value? Bitcoin Cash would fall harder than ever... At least so I think, because of the centralization :D
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How Satoshi Nakamoto managed to remain unknown puzzles me. Power of Anonymity eh?
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I like how Charlie kind of turned the interview and asked some good questions.
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Looks like Charlie Lee is very smart and is capable of making the right decisions, including the recent sell off of his LTC.
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He has a valid point here
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What does Charlie actually do for Litecoin? His Github account shows 45 contributions in the past year. He does promote LTC, but he lost credibility after doing what Satoshi didn't: selling all his coins.
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Charlie really turned this interview around, it was off to a bit of a shaky start. I cannot stand Julian Hosp, he has really screwed over TenX investors by his unprofessional operation of the TenX project, resulting in exchange delistings and cards that do not work, promises about payouts and so on.
If Julian put in the same kind of effort to ensuring that his own project TenX succeeded as he did promoting himself and doing non-TenX related activities, maybe things would be different.
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It's time to realise cryptocurrency and Credit cards are enemies. The former intends to replace the latter. Cards will want to stop it. Hence what happened with all the cancellations.
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Interessing , but i lost all my respect to this guy when he sold Ltc !
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The other part is he has time to Twitter attack other cryptocurrency. Litecoin isn't something super duper. It was merely changing four parameters of the bitcoin code. Then he got cult status and sold all his coins? Imagine someone doing that again. Plus where did he sell it or sold it for? And donated to where? There's no proof. Why would anyone proclaim to the world, hey I sold all my gold bars to donate to the charity. Look. I'm _______. Just some weird diabolical vibes.
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Litecoin is one of the first crypto coin after Bitcoin, that gained so much limelight and tagged as Silver to Bitcoin Gold. It is developed on core code of Bitcoin, containing many features similar to Bitcoin still stand different from it. Block transactions can be almost instantaneous and generally never exceed five minutes. It uses SCRYPT algorithm for mining, continuously proving it's worth and logevity. It is the most stable coin in the market. Some even believe it will one day overtake Bitcoin as the “Crypto King” making it a very popular cryptocurrency throughout the community
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I guess he feels Litecoin should maintain it's uniqueness and complement rather than compete with bitcoin. I think he's right, that's just my opinion but if litecoin decentralizes to be like bitcoin it may fail. Thanks for the link, 35 mins is really long this morning so I'll probably watch it in the evening
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I so like to hear him speak and explain about litecoin every time when i hear about him i learn something new what a great man
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Litecoin is one of the best coins there is
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Great discussion! Biggest thing im worried about LTC is that 50% of its supply is owned by 100 addresses. What if one of them decides to dump his coins?
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Nice to hear from you thanks for sharing information keep it up you allways come with great information
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Really nice interview, I hope TenX will get their cards out soon.
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Why would he ever sell Litecoin, does he not see a future in it . He does have a point here tho
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I think he has a valid point for selling out his stocks
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it was great interview.
what a great post @dragosroua
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wow! nice post sir.. it is very helpful.. followed and upvoted! and also voted for witness :)
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personally i like litecoin, its growing up smoothly.
best wishes for the founder snd post crator.
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That is great news......Lets see how this thing settles after launch.
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very helpful information.thanks for sharing.
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it's a great theme ..great to share....
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Hello @dragosroua Hello @ of your writing I take: in the order there must be disorder and in this game of economies always one must yield so that another one emerges. What is clear is that this ocean of economic information is affected even with the sigh of a baby. It was nice to read you again and little by little learning. Saluditos
See you soon.
Hola @dragosroua de tu escrito extraigo que para que exista el orden debe haber desorden y en este juego de economías siempre uno debe ceder para que otro surja. Lo que si claro es que este océano de información económico se afecta hasta con el suspiro de un bebe. Fue grato leerte nuevamente y poco a poco aprendiendo. Saluditos
Nos veremos pronto. Buena vibra y Bendiciones. Hoy domingo y estudiando contigo jejejej.
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Well litecoin is one of the top crypto and this is a great step forward, but people who have a lot of it's portion can decide to dump it. Then it might go to waste. But what I believe is there is a good as well as a bad side of everything.
Well the biggest crypto bitcoin is itself managed by an unknown called Satoshi nakamoto, so the point is that we can't say what is next, but let's hope for the best.
Thanks a lot sir for making us aware of such things. I appreciate your time and efforts.
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great interview!
i commented first, now i'm watching the video!
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Litecoin also based on blockchain technology. So no doubt it will go so far.
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You have done a great analysis and summary of the video, I will see it myself to have my own conclusions
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i just hope no more dump in ltc is expected phewww
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after proudly selling at the top and leaving everyone else holding the bag, of course this is the time to sneak away and disappear. v smart! yeah better without.
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So true! Litecoin is fast growing
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So, if stepping away or true anonymity makes coins like Bitcoin and potentially Litecoin more decentralized, what does that mean for STEEM? Dan has already left (though it wasn't necessarily for that purpose), but depending on your point of view, that may or may not have concentrated power more.
I've read that at some point Steemit Inc steps away (or at least some hope that happens, not sure which), but I'm not sure what that means, per se, when the main portal is what they bring to the table. I suppose if most stopped using Steemit and went over to busy or elsewhere, that might change things, but there's also a delegation going to busy and the other portals so it's all kind of convoluted at this point.
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Thanks for the summarization. I will plan to watch this video later.
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Excellent discussion... great interview
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Great news
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Well,knowing is one thing,accepting is another..Thats maturity..
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Amazing news, di update with your post sir.
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