It appears some people are organizing a coordinated FUD campaign against Litecoin. More specifically, people reach out to Charlie Lee on Twitter in order to get him to say some things which could potentially hurt LTC. Having an accessible cryptocurrency developer can lead to these types of campaigns sometimes. So far, it doesn’t seem to impact the Litecoin price all that much. However, it is evidently someone or some group is trying to manipulate market prices.

No one should be surprised to learn someone wants cheaper Litecoin. After all, cryptocurrency is mainly about making money. Supporting projects because you believe in them took a backseat a long time ago. These days, it’s all about buying low, scalping profits, and shilling coins and projects to maximize earnings. Deterioration of the cryptocurrency scene will have some negative repercussions, in the end, to say the least.

Litecoin Suffers From a lot of Unjustified FUD

If all of that fails, the best option is to target the coin developer. In Litecoin’s case, that is Charlie Lee. Charlie is very accessible on Twitter and loves engaging with other people. However, it appears a lot of people are trying to goad him into saying things which can hurt LTC in the long run. Just yesterday, Lee acknowledged Litecoin is boring in its current form. Statements such as those can be interpreted in many different ways, of course. A lot of things are under development, but people who haven’t kept tabs on it will see it as a sign of weakness.

Whether or not these people will succeed, remains to be seen. A lot of LTC holders won’t part with their coins that easily. That is a good sign, mind you. It is far too easy to create market panic and trigger big sell-offs these days. Even one negative comment from a brand new Twitter account can send prices down pretty quickly. There is so much fear in the cryptocurrency world, one almost wouldn’t believe it.Everyone craves news and updates. When developers do not deliver on those requests, people will start FUD campaigns to no end.

Cryptocurrency has mainly become about handholding these days. Developers do not have time to argue with [non-] community members all the time. They will share news if there is any and keep working otherwise. Some people feel they are special and deserve communication every single day. One day without acknowledgment from a developer and the project has become worthless. This unjust sense of entitlement is causing some very odd situations, to say the least. Common sense has become a rare commodity in cryptocurrency, that much is evident.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

Get the latest Bitcoin News on The Bitcoin News
Our Social Networks:
Facebook Instagram Pinterest Reddit Telegram Twitter Youtube