Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched! - page 125. (Read 1467291 times)

That was a big plus for Lietcoin but if someone think whole project and market of LTC was running based on this is wrong in thinking. This will have its effect on LTC which can not be denied but it will recover from this surely. I even think before this announcement coming out surely behind the scene some alternatives were taken in consideration by SatoshiLite.

Do you even?

Welcome to LitePay! Has LitePay been launched? Which services this one bring to Litecoin community and crypto-users.?

Check out this video that explains how LitePay cancellation will effect Litecoin by SkrillaKing.

Would-be Litecoin merchant processor LitePay has abruptly terminated its operations, the Litecoin Foundation announced in a post on its website on Monday.

LitePay - which also claimed it would offer a crypto wallet and "LitePay debit card" through which users could convert litecoin into U.S. dollars - was unveiled in December of 2017 and set to launch in February of this year. Data from OpenGovUS shows that LitePay Inc. started operating on February 1.

The proposed business venture had won plaudits from the Foundation previously, which took to Twitter in December to write: "Finally, someone is taking the opportunity to create litepay.us. Good job!"

However, as of February 26, LitePay had only started to roll out its merchant service, according to a post on Twitter. The last public messages from the company related to a mid-March Ask Me Anything session on Reddit, and an email account listed on LitePay's website did not reply to a request for comment by press time.

The foundation, which oversees development of the cryptocurrency, said in its post that it contacted the business' founder and CEO, Kenneth Asare, following the AMA on March 16, expressing concerns regarding the "less than transparent nature" of LitePay. It was then that Asare revealed that he had decided to halt operations and planned to sell the company.

The Foundation's post further explained:

Both the Foundation and litecoin founder Charlie Lee expressed regret for their support of the project.

"Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs," Lee wrote on Twitter. "I am sorry for having hyped up this company and vow to do better due diligence in the future."

The Litecoin Foundation made a similar statement in its post:


Nonetheless, the Foundation struck a hopeful tone.

yeah....they were not hands-on and got taken it seems...so what is the reason to HODL LTC for 2018 now?

Indeed, all alts are looking iffy..it also does not help that a massive dump of scrypt-pow equipment, mainly L3+'s (LTC) are dumping from bitmains forced wait from Dec 15th

to March 15th ... amazing how difficulty doubled since then.....no real equipment in that time...boy..you think maybe GASP the majority of doubling of difficulty was bitmain...

(say it ain't so, Jihan!) ...funny how that seems to be the case...

Bitmain: (found another thing to play rinse/wash/repeat with ..pre-orders for 4 months for an asic dump at that end of that point in time.....evil pays!) (tm: bitmain)

Many fully believed that the foundation was involved, or Charlie was involved, etc. While it is important for the foundation and the community to encourage and support innovators within the space, giving a sense of approval causes too many to accept something without doing due diligence.

Big setback, leaves a gaping hole in the 2018 roadmap....

Wonder how jsnip4 and trader boss will remain bullish 

Wow, pretty sad what is happening to LitePay, Charlie Lee and the Litecoin Foundation have apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay!!! And, unfortunately, I think this could affect LTC! Here's the sad news https://www.ccn.com/we-got-too-excited-charlie-lee-litecoin-foundation-apologize-after-litepay-vanishes/ !

That is terrible news this will put more pressure on the entire network and I think price will go little down. Some serious concerns from the CEO which need to get cleared let's see what happened next.

CEO of LitePay, informing that he has ceased all operations and is preparing to sell the company.

https://litecoin-foundation.org/2018/03/announcement-on-litepay/

Live feed: there goes the next in turn crash of the market LTC down with 10 USD in a glimpse.
Who will buy the dip?

Nobody can steal a payment. Someone can hack your computer/email and steal coins from a wallet/exchange.

What exactly happened?

If I correctly understood you, then you transferred ltc to Graviex and they did not reach a purse. I think to you it is necessary to address in Graviex. Perhaps they to you did not enlist a coin. And in general it is possible to track from A to B. It seems throughout history of cryptocurrencies, ltc and doge always were reliable and cheap for the translation.

Looks like my LTC payment was stolen today as it was moving from Zergpool to Graviex exchange.  Is LTC an unsafe coin for sending transactions?  I've never had my payments stolen using any other altcoin.

What would anyone suggest as a more secure coin to use to transfer medium size transactions?  Thanks!

this project is so interesting cause im sure that the officials,developers also the admin here in  this project is doing theyre best to make this project successful.I know that you have talented and kindful devs that can make a nice and great quality to qualified those people who are interested or liked youre project espescially to the generous investors, thats why im so happy that i joined your airdrop and feel blessed to be part of your project cause im pretty sure that this project will thrive and will get fame in this kind of field.Together lets spread our wings and lets fly to the moon...

Fast transactions

We were impressed by the convenience of SolidCoin's fast transactions.  Although we know that fast confirmations are not necessarily as secure as Bitcoin's slower confirmations, they are very convenient for small merchants who don't need transactions to be super secure. The average Litecoin block takes 2.5 minutes, one quarter of Bitcoin's 10 minutes.  So if merchants wanted to be as safe as Bitcoin, they can wait for 4 times the number of Litecoin confirmations as compared to Bitcoin. But most merchants can readily accept 1-confirmed transactions for small amounts of litecoins.



will future brings faster transactions like xrp ?

I think now I can only invest in valuable coins such as Bitcoin, ETH and Litecoin. Altcoin are very dangerous

Who is afraid to buy too much I didn't understand well about the meaning of this sentence. Can you explain in details what you really want to say. Or you suggesting to buy only Litecoin which is mainstream cryptocurrency is that right?

It is now estimated that the mainstream currency can be bought, Bitcoin Litecoin and ETH, the other is really afraid to buy too much，lost your money in a minute