We have all heard that "Charlie Lee exit scammed Litecoiners" and "Charlie Lee sold his bags" or different versions of the two as well crafted FUD statements as reasons to stay away from investing in Litecoin. Charlie Lee was being transparent and gave his reason why he sold in 2017, yet nobody seemed to care.
Since 2017, this kind, humble, and very noble creator of Litecoin has been busy working hard making Litecoin the best coin in the crypto space, all while trying to ignore the cruelty, at levels only Twitter can provide, hurled in his direction. I'm tired of it and I know you are too.
The previous argument that Litecoin was fairly launched with no premine and that Charlie Lee earned his Litecoin on the exact same playing field as everybody else seemed to have gone to deaf ears.
Fortunately, on May 23, 2022, I saw a side of Charlie that I have never seen before. The reason for this side coming out is an article all to itself, but during this time, we have in Charlie's own words, more ammunition to use against the Litecoin haters trying to spread FUD. It's time to dispel the FUD once and for all, not because Litecoin is about to surprise the world with an incredible and unimaginable bull run, but because the bullying of Charlie Lee has to stop now.
Early Bitcoin Investor
Charlie Lee was an early enough investor in Bitcoin that he did not need to "sell his Litecoin Bags". There are rumors and a decent probability that Charlie Lee is Satoshi Nakamoto himself! That's how early Charlie Lee got into Bitcoin. We don't know how many Bitcoin Charlie Lee holds (or sold) because he hasn't said anything about it. What we do know is that Charlie Lee believes his Bitcoin investment is large enough to make him, "financially well off".
Early Ethereum Investor
In response to the suggestion that Charlie made $33 million off his sell of Litecoin, he said, "Less than that.". At Litecoin's current price of $68.65, that's a marketcap of $4,832,956,425. When Charlie sold his LTC, Litecoin's marketcap was 7 times that, $33 million is minuscule in comparison. Charlie's most profitable investment was selling his Ethereum bags, which must have been huge because remember, he's an early enough investor in Bitcoin that he just might be Satoshi Nakamoto himself.
Scammers aren't transparent
They're right there, did you see that? No, I'm not talking about the fact that scammers aren't transparent yet. Charlie is giving us an estimate of how many coins he owns. 1/100th of what Satoshi has. The amount that Satoshi holds in Bitcoin is over a million, probably more. That would make Charlie's holdings 10,000, probably more. Charlie Lee is set for the rest of his life in Bitcoin holdings alone, but remember he made more money off the Ethereum "presale".
Now let's talk about scammers. How many Ethereum tokens did Vitalik Buterin get? Was ETH fairly launched with no premine? (*Hint* "Presale" is code for scam in the crypto world) Is Vitalik as transparent as Charlie? Did "he" tell everyone when he dumped his bags of Ethereum? Interestingly, Vitalik tweeted 3 day's prior to Charlie's referenced tweets on May 20, 2022, that he's "not a billionaire anymore". (Link)
The point is that Charlie Lee is open and honest to a fault in the toxicity of the Twitter-sphere. Twitter does not deserve to have coin creators that aren't afraid to tell the truth. Price and how information affects the price of coins or tokens is all most people really care about. Not Charlie Lee, he's building value into Litecoin, the price will take care of itself. Have you heard the speculations of what Litecoin's price is about to do? I wrote an article about it.
Charlie Lee gave his reasons for selling all his Litecoin in 2017. He doesn't need the money, he's just fine without Litecoin. His true passion is developing Litecoin, and with the recent upgrade of MimbleWimble Extension Block (MWEB), Litecoin is far superior to Bitcoin now. NFTs on Litecoin is now heating up and tokens can be created on Litecoin just like on Ethereum. Litecoin is in a class all by itself and the market is about to recognize it. Now is the time to congratulate Charlie on his accomplishments, not bully him for his past actions that you disagree with. Isn't it time you "Looked into Litecoin?"
Follow me on Twitter: The Litecoin Eagle @EagleESBD