Charlie Lee – Litecoin (LTC) Creator – Criticizes Ethereum (ETH) Transactions

The MD of the Litecoin (LTC) Foundation and the creator of Litecoin (LTC) – Charlie Lee talked about the inherent value of Bitcoin (BTC) and other digital currencies, during the Blockchain Cruise Conference. Charlie Lee – the creator of the seventh largest digital currency in the world – talked about Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) while he was discussing “the inherent value of altcoins.”

Ethereum (ETH) Transactions are Not Immutable

During the conference, Charlie Lee said that transactions on the blockchain of Ethereum (ETH) are not immutable as opposed to Litecoin (LTC) and Bitcoin (BTC). He said that even if the cost of reversing an LTC transaction is cheaper than the cost of reversing a BTC transaction, the cost is still “extremely expensive.”

This is the fundamental reason why he has always advised people to use Bitcoin (BTC) for larger payments and Litecoin (LTC) for smaller payments because the users will rely on the immutability and security of Bitcoin (BTC).

The CEO continued to talk about the fixed fund supply of Litecoin (LTC). He said that the fund supply of Litecoin (LTC) is similar to that of Bitcoin (BTC) which occurs every four years. Litecoin (LTC)’s total supply will be 84 million, and this will never change, he says. Lee said that even if he wants to change it, he wouldn’t be able to change it because the users would not agree to it and this is why it will always remain the same.

Ethereum (ETH) Is Most People’s Favorite Altcoin

Charlie Lee extended his discussion about Ethereum (ETH), adding that the digital currency is the favorite altcoin of a lot of people. According to Lee, Ethereum (ETH) is censorship resistant, saying that he believes that the digital currency has a lot of “security around it.”

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$72.752.30%

At the time of writing, the value of Litecoin (LTC) is still down by about two percent over the past twenty-four hours, bringing the value of the coin to $54. The digital currency now has a market cap of $3.17 billion with a trading volume of $223.08 million over the past twenty-four hours.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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