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

July 4, 2017 by Jon Southurst 18 Comments 16021 Views

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 8BTC.com 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:

This is a translation of a Chinese interview, and they misquoted me about Amazon adding Litecoin. ? https://t.co/LC59FpCH6Z

— Charlie Lee [LTC] (@SatoshiLite) July 3, 2017

For the record, 8BTC.com 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 mit.edu 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”.

I've reached out to them and no response. For now, I am considering this a hoax. FYI, any student/staff can get this 'litecoin' domain. https://t.co/lmXdGwq2YA

— Charlie Lee [LTC] (@SatoshiLite) July 4, 2017

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:

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

BTCC has launched a Litecoin mining pool. Be careful @f2pool_wangchun, your days at the top are numbered! ? https://t.co/yqqnoSylPk pic.twitter.com/mptAyBBFsv

— Charlie Lee [LTC] (@SatoshiLite) July 2, 2017

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

Had a meetup in WuHan. Expected 80-120 people and 200 showed up! Ran out of t-shirts to pass out. Thanks PZ for organizing. pic.twitter.com/qAUntn748f

— Charlie Lee [LTC] (@SatoshiLite) July 2, 2017

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.

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

Images via Reddit, BTCC