Charlie Lee, creator of Litecoin, recently took to Twitter to call out billionaire investor and cryptocurrency bull-horn J.C. “Novogratz” Novogratz on CNBC’s Fast Money segment for referring to his infant cryptocurrency as a scam in an interview with Fox Business Network’s Liz Claman.
The “cryptoslate contact” is a website that provides news and opinions about cryptocurrencies. On the site, they have an article that talks about how Novogratz dissed Litecoin on CNBC. They also talk about the pros and cons of this decision.
Mike Novogratz, the millionaire creator of Galaxy Digital, mocks Litecoin on CNBC.
The two reviewed the Fed’s decisions in regards to the macro picture in 2022 with host Joe Kernen. On that point, Novogratz mentioned a “incredible [crypto] adoption cycle,” which he believes will keep prices stable.
“You’re seeing this adoption cycle go at such a rapid pace. Venture capital has poured in to the tune of $30 billion.”
In terms of asset values in the face of an uncertain macro environment, his overall view is that assets “can still perform great.”
When it comes to popular coverage of prominent crypto assets, however, Novogratz believes Litecoin does not deserve the attention it receives.
What was Novogratz’s take on Litecoin?
Kernen asked the former fund manager whether he would make any modifications to CNBC’s crypto ticker board, which included Bitcoin, Ether, Litecoin, XRP, and Doge.
Novogratz retaliated by criticizing Litecoin for its lack of community interaction as well as its lack of technical advancement.
“It strikes me as odd that Litecoin is on anyone’s, you know… It’s not a technology, and it’s not something that people are interested in…”
When asked what should replace Solana or Terra on the board, Novogratz proposed Solana or Terra. The reason behind this is that both of these initiatives have a lot of community support and are bringing new ideas to the table.
“Solana and Terra Luna are the cryptos that are attracting the attention of the growing community.” And what we’re looking for is who’s building on what, where’s the innovation, where’s the growth? As a result, I’d put Luna and Solana up there.”
How is MimbleWimble coming along?
On CoinMarketCap at the start of 2021, Litecoin was ranked fourth, Solana was 112th, and Terra was 62nd.
In little over a year, Solana has risen to fifth place, Terra to ninth, and Litecoin is on the danger of dropping out of the top twenty.
The Litecoin MimbleWimble privacy integration has been spoken about a lot in 2021. The integration is still not ready for release, despite the narrative implying that it would be soon.
The project is still in the bug-fixing stage, according to the most recent report from developer David Burkett, dated December 3.
Progress in November:
* Vulnerability discovered * Design fixed and LIP-0004 rewritten * Vulnerability fixed with a little delay (last one, I promise….unless there’s another one)
https://t.co/lvzzShxfSr For more information, go to https://t.co/lvzzShxfSr
December 3, 2021 — David Burkett (@DavidBurkett38)
Despite this, a new Kraken analysis presents a favorable picture for Litecoin in 2022. On-chain activity for “digital silver” is beginning to take up, according to researchers, implying that this might convert into a “growth wave.”
They also point to a constant increase in the number of unique active addresses, which peaked at 606,703 on October 10th, an all-time high. Furthermore, the last time a similar scenario occurred, Litecoin entered price discovery phase.
Posted in: People, Litecoin
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The “coindesk” is a website that covers the latest news and trends in the world of cryptocurrencies. They recently published an article on how John McAfee dissed Litecoin as a “scam.”.
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