Why I Sold My Litecoin & Don't Plan on Buying Back

in threespeak •  6 months ago  (edited)

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In this clip from my recent livestream, I explain part of the reason why I sold my Litecoin position, and why I have no plans to buy any of it back anytime soon.

In short, I can say that having skin in the game is important to me, and it really bothered me when Charlie Lee sold all of his coins, especially when he plays such a pivotal role in marketing and development.

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While that was definitely disappointing, I think the ability of Litecoin to develop and be a sort of testing ground for future bitcoin development will prove to have value over time.

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Right on. In its own right, lightcoin will keep accumulating value. It will never be as popular as bitcoin or at least not anytime soon but it doesn't have to be.

I understand what you say about skin in the game although I believe Charlie lee is still involved in litecoin, do you ever watch any of the roadtoroota on YouTube bix will tell you that litecoin is the right coin. Cheers mike

At times that is how business lines are! We must collapse one to pave way for another which seems to be pretty good. However, I think there are many ways of business strategies, and that is one method you have adopted, to sell all your #litecoin.

I don't think it is the best way to sell all your litecoin by this time, there may sometime that market will be down, and sometime too things will move well, but in any way every has his own believe ànd what he think will benefit him. Thanks for the video you have shown to us in @3speak!

I think the halving would take some time to reflect on the price until the miners accept that they will be rewarded less here after. It may turn either way but I am still not bearish on Litecoin

Sometimes the investment is misleading, and the market cannot be predicted, so the investment is also to risk future changes. Good post :,)

Hello @louisthomas, we all have different points of view, I do not want to give an opinion, each person obviously makes their decisions according to their analysis and is very respectable.

In my opinion that's your strategy in buying and selling crypto coins. Maybe because the price is still standard makes you want to sell it. But in my opinion having lots of coins is better because when the price of one coin falls there is still hope in another coin

I think it superb strategy to escape great losses.
If you really want to achieve much, you can
device means of making what you want
to achieve. Thanks for the video!

Sometimes in business strategy investing, ones must be careful about his investment also

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I think there is a very big problem with this message. It somewhat assumes that Charlie Lee IS Litecoin. Litecoin is a community and our tendency to attribute a single person to an entity (like Zuckerberg or Bezos to Facebook and Amazon) is going to get us into a lot of trouble when we try to do that with crypto.

I started out as a big Litecoin fan. I even convinced a friend to buy some and his only holdings are in Litecoin. I since cashed out everything because of everything that went down. People think that Litecoin has no use-case combined with the Litepay debacles and all that.

However, I've since learned that Litecoin still has a lot of offer and they work very closely with Bitcoin. I'm not going to be surprised if they make huge gains even if I have very little skin in the game.

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