Friday, December 2, 2022

No Litecoin for Amazon, But Plenty of Good News: Charlie Lee

No Litecoin for Amazon, But Plenty of Good News: Charlie Lee

Litecoin founder Charlie Lee has moved to squash rumors that Amazon plans to accept the currency. But despite the disappointment, interest in the currency is growing… along with its value.

Also read: YouTube Stars Are ‘Exposing the Normies’ to Cryptocurrency Mining

Rumors Abound as Interest Grows

It’s believed the story propagated after News posted an article about Lee visiting Wuhan in China on 2nd July — and mentioned Amazon would soon accept litecoin.

The article has since been corrected, and explains its original source was a Reddit post. Lee tweeted an update soon after:

For the record, News wasn’t running a hoax or fake news. It reports mainly on the Chinese cryptocurrency scene and translates information from local sources there.

Lee also addressed another Litecoin rumor after a mysterious website appeared on a domain. The one-page site features only a LTC logo and a countdown clock, with the words “Technology released August 1st, 2017”. Lee said he wasn’t familiar with the site, writing “I’m in the dark on this one also”.

Lee Visits China and Delivers More LTC Updates

Amazon may not be accepting litecoin right now, but others are starting to. Reddit user “AlwaysGeeky” posted a photo of this sign at a local gym in Cincinnati:

Litecoin sign at gym
image via: AlwaysGeeky, Reddit

Lee’s visit to China this week also appeared fruitful. Shanghai-based BTCC, led by Lee’s brother Bobby, launched its LTC mining pool:

He also noted that turnout at a Litecoin meetup in Wuhan surpassed his expectations:

Focus on Litecoin in China, Elsewhere

Litecoin interest in China has always been higher than in the West. Several of its largest exchanges, like BTCC, CHBTC and Huobi have already traded it alongside bitcoin for years.

The BW mining pool described Litecoin as “a trailblazer” in April for implementing SegWit before Bitcoin. Coinbase, the largest cryptocurrency service in the U.S., added support for LTC in May.

Nearly a month ago, Lee left his regular job at Coinbase to focus full-time on Litecoin development. That news, along with SegWit, has put Litecoin back in the headlines.

The current cryptocurrency investment craze has helped, with LTC leaping from $3.85 USD in March to over $50 today.

Are you a Litecoin optimist? Let’s hear your thoughts.

Disclaimer: the author of this article does not currently hold or trade litecoin.

Images via Reddit, BTCC

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