Charlie Lee, the controversial figure behind the Litecoin movement does love to spark debate. His fans adore him, and his critics simply adore to call him out. His recent decision to sell off all his Litecoin assets had many people quite perplexed. If somebody believes in their product and wants other people to buy it, why on earth would they get rid of it all?
Of course, many others have taken a more relaxed stance towards Lee’s movements, stating that he sold off, not to abandon Litecoin, but simply because he felt it was the right time to do so. Cryptocurrency is decentralised and therefore, Litecoin is as much of an asset to Lee as it is to every other investor.
No matter which side of the fence you sit, you should agree that the Charlie Lee name does spark up quite an emotive imbalance.
Before we begin, lets have a look at Litecoin. At the time of writing, Litecoin is valued at $151.28 and is up 1.89%. Not a significant rise but a rise nonetheless.
Now, recently, YouTuber BradsCrypto has released a video, in which he explores some future prospects for Charlie Lee and Litecoin, see the video for yourself:
According to BradsCrypto, very recently Lee has passed comment stating that in the future, he wishes to step down from Litecoin to allow the currency to become more decentralised. Of course, at the moment, nobody owns all the Litecoin, however, as a figurehead, Lee’s association with Litecoin does leave many to argue that overall, Litecoin is not a totally decentralised entity.
Moreover, BradsCrypto argues that Charlie Lee is worried about the increased desire for cryptocurrency regulation which seems to be spreading across the world at the moment. His closeness to Litecoin may mean that certain regulations could become rather damaging to both himself and the currency, therefore, the removal of himself from the brand so to speak would ensure that essentially, it is harder to place stringent regulations on Litecoin.
Okay, it’s not clear that Lee will definitely be leaving Litecoin however, what BradsCrypto is discussing does suggest that eventually, his hands will be tied and that in order to allow Litecoin to progress, he will have to leave.
It would of course be beneficial to the future of Litecoin for Lee to step down. I suppose it is like a reluctant parent seeing their child off to University for the first time. The parent can’t hold on forever, much like Lee, eventually his presence will drag the reputation and the feel of Litecoin down.
Overall, when the time is right, and Lee does abandon ship, the community will have very mixed reactions, of that, I am certain.