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Litecoin’s Charlie Lee Sparks Twitter Battle Over “Bitcoin Extremists”

Charlie Lee is at it again. The Litecoin founder isn’t shy when it comes to voicing his opinion on crypto via Twitter and yesterday was no different. It seems this time, he’s targeting Bitcoin maximalists.

Charlie Lee vs. Bitcoin Maximalists

It all started with a poll.

It seems Mr. Lee isn’t happy with a group of self-proclaimed Bitcoin maximalists. The Litecoin founder goes even as far as calling them “extremists,” which isn’t generally a positive thing to call someone.

In 23 hours, Charlie Lee has collected over 28,000 votes on his poll and Bitcoin maximalist has taken over the majority of it. At press time, Bitcoin extremist has 9%, altcoin maximalist has 33%, and nocoiner has 10%. That leaves the remaining 48% to individuals who deem themselves Bitcoin maximalists.

Traditionally, maximalists believe that Bitcoin (BTC) is the top cryptocurrency and the one to use day-to-day. Where Lee seems upset is that a group of these maximalists have attacked his own project and feel there is no space for any altcoins in the industry. This is what prompted the Twitter poll and attack on these so-called “extremists.”

Others had their own take on the poll and subject, as usual.

Another person actually knocking Litecoin said:

Not sure why the person above bought Litecoin because they thought Charlie Lee was a “good person” but that’s probably someone that shouldn’t be investing—just my opinion. Binance’s CEO even joined into the conversation.

>> Monero “Mistake”—Now You Can’t Pay for Fortnite Merch with Monero

From all the rest of the conversation via the initial tweet, it seems Lee isn’t the one who made up the term Bitcoin maximalists. He took that from Vitalik Buterin, Ethereum’s co-founder. It remains unclear why Bitcoin (BTC) supporters need to be placed into a category, but the altcoin leaders, like Charlie Lee, obviously feel it’s necessary.

According to CoinMarketCap, BTC broke over the $4,00 threshold recently and is currently trading at $4,044.75 a coin, down – $0.97%, in 24 hours.

Featured Image: Depositphotos © GekaSkr

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Ethereum (ETH), EOS, and Litecoin (LTC)

Ho-ho-ho, looks like Santa put crypto on the nice list. Crypto is in the green today! We’re going to take a closer look at Ethereum (ETH), EOS, and Litecoin (LTC) to see if anything is going on with these coins.

Let’s dig in!

Ethereum ETH

At the time of writing, ETH is selling for $135.10, which puts the coin up 14.02% in the past 24 hours.

Ethereum
Source: CoinMarketCap

With a market cap of $14.06 billion, Ethereum is now the 3rd largest cryptocurrency, beat out by Ripple (XRP) not too long ago, and of course, Bitcoin (BTC) as usual.

The Ethereum team is currently looking for dApps that will have an impact on the economy and on communities across the globe by solving real-world issues. If you’re building a dApp for ETH that you think is worthy of the cause, then consider filling out the survey provided by the team. You might just have the next big dApp!

EOS

At the time of writing, EOS is selling for $2.68, which puts the coin up 13.03% in the past 24 hours.

Ethereum
Source: CoinMarketCap

EOS is the 5th largest cryptocurrency and has a market cap of $2.43 billion.

Like the Ether team, Block.one is also on the lookout for dApps being built on the EOS blockchain. People interested in sharing their EOS dApps are welcome to email the team at spotlight@block.one.

>> Coinbase President: Despite Bitcoin Price Crashes, 2018 was an Innovative Year

(Hands up if you’re developing an Ethereum or an EOS dApp!)

Block.one kicked off the holiday season with a laugh, uploading a behind the scenes blooper reel to its Twitter page:

Litecoin LTC

At the time of writing, Litecoin is selling for $32.57, which puts the coin up 14.23% in the past 24 hours.

Ethereum
Source: CoinMarketCap

Litecoin has a market cap of $1.95 billion and is currently the 7th largest cryptocurrency.

Charlie Lee recently announced that Litecoin has become the official cryptocurrency partner of the UFC. In honor of this, the Litecoin logo will be on the mat! Get ready fighters—it’s Litecoin coming in for the win!

Featured image: Pixabay

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Litecoin (LTC), TRON (TRX), and ZCash (ZEC)

Cryptocurrencies made a strong comeback in the middle of the week, after posting 2018 lows a few days prior. Investors began dumping digital currencies after Bitcoin Cash miners decided to split the chain in two. After the hard fork, an all-out hash war began, and investors weren’t pleased. Investors began buying back digital currencies when various crypto-positive news announcements were made earlier this week. Most coins have since corrected from their gains, but Litecoin (LTC), TRON (TRX), and ZCash (ZEC) are still in the green for the week.

Let’s take a closer look at these coins and their latest updates.

Litecoin (LTC)

At press time, most top 20 cryptocurrencies are trading red. LTC is currently trading at $32.07 a coin, down -6.05% in 24 hours. For the week, however, the seventh largest digital currency is up by 0.16%. While this may not seem like a lot, most top digital currencies are seeing losses this week near the double-digit percentages.

The Litecoin Foundation and Charlie Lee, its founder, haven’t announced any big changes to the Litecoin network recently. Lee did weigh in on the BCH hash war though.

TRON (TRX)

TRON, the world’s 12th largest cryptocurrency, is up 4.98% this week. At press time, TRX is trading at $0.0142 a coin, down -9.72% in 24 hours. The blockchain project is known for juggling many different plates when it comes to the development of their project. Early this morning, the TRON team released its weekly dApp report.

In addition to this, earlier last week Justin Sun, TRON’s founder, announced that TRON had reached nearly 2 million Txs per day.

That’s definitely something worth celebrating.

>> Sirin Labs Blockchain Phone ‘Finney’ Will Ship in December

ZCash (ZEC)

The world’s 19th largest cryptocurrency was just added to a major US exchange. While it is currently trading it the red, the digital currency is up 4.22% for the week. At press time, ZEC is trading at $79.38 a coin, down -1.98%, in 24 hours.

Major US exchange Coinbase Pro has officially added the privacy-focused digital currency to its trading platform. It remains unknown at this time why ZEC was chosen over other top digital currencies, but its rise this week no doubt has mostly to do with this announcement.

What do you think about Litecoin (LTC), TRON (TRX), and ZCash (ZEC) this week?

Featured Image: Depositphotos/© adriantoday

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Litecoin Transaction Fees | Reducing in Next Core Release

Litecoin transaction fees are set to be lowered by ten times in the next Core release.

The team behind the seventh biggest coin by market cap revealed the news via a Medium post earlier today.

Litecoin Transaction Fees Set to Lower

Currently, the average Litecoin transaction fee equates to about $0.05 per KB. But the network’s upcoming release of Litecoin Core 0.17 is going to lower this by a factor of 10. With the new changes, the new fee should equate to $0.005, or half a cent.

At that price, Litecoin transaction fees will mimic 2015 levels.

Increasing Prices

The core developers made the decision to combat the rising price of Litecoin transactions fees. Transactions could cost over $0.10 and even hit just over $1.00 on occasion.

Core Lead Developer Adrian Gallagher elaborated on the move saying:

“To encourage more adoption and usage of Litecoin, I think lowering the fees are [a] good thing. We’re not even close to block limits and the block size on disk is pretty small (20GB) relative to other coins. Technically people can already adjust their fees right now to the one above because of the more relaxed min relay/dust relay fee. I also don’t think it will be too much longer before this bear market is over (3–6 months) so it will lay down the foundation for a fee rate which we can grow into proactively rather then [sic] re-actively.”

>> India’s Largest Bitcoin Exchange, Zebpay, Relocates to Malta

A Bit about Transaction Fees 

Transaction fees depend on the space used in a block to register the transaction. The fee is like paying for that space in the block and gives miners an incentive to process your transaction.

Processing fees begin to increase when demand outweighs space. Litecoin still has a lot of space in its blocks, and so there is no need to ‘bid’ for transactions. This is why Litecoin transaction fees can be so small.

In traditional fiat currency transactions, fees are dependant on the amount of money being sent. The larger the transaction amount, the larger the fee.

But crypto transactions are different. The larger the transaction data, the larger the fee. Transaction data means the number of outputs and inputs or addresses on the network where the crypto is moving to and from. Therefore, transaction fees can differ and someone sending a small amount, may actually pay more in transaction fees than someone sending a larger amount.

Featured Image: Depositphotos/© sdecoret

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Ripple (XRP) and Litecoin (LTC)

The cryptocurrency market is currently sitting just above $210 billion this morning. While mainstream media is heavily focused on cannabis at the moment, blockchain companies are still making moves in the background. Today, we’ll take a closer look at Ripple (XRP) and Litecoin (LTC) and the latest advancements with the two projects.

Ripple (XRP)

Ripple and XRP are often confused as the same and are often grouped together because what Ripple the company does ultimately affects/influences the price of XRP.

Less than a month ago, Ripple revamped its website to solely focus on RippleNet. RippleNet has just expanded its xRapid platform that uses XRP as liquidity for financial institutions. While its xCurrent platform currently has over 100 banks and financial institutions signed up and testing its XRP-less platform, Ripple’s goal is to eventually transition these institutions to RippleNet.

Ripple’s press release explained why using XRP is crucial for cross-border transactions:

“Pilots in the crucial U.S. to Mexico remittance corridor using XRP as a digital asset demonstrated savings of 40-70% compared to traditional costs. At the same time, it helped lower settlement times from two to three days to just over two minutes.”

At press time, XRP is currently trading at $0.465 a coin, up 0.34%, in 24 hours.

>> Small Bitcoin Fee: Only 10 Cents for $194 Million on the Bitcoin Network

Litecoin (LTC)

On Tuesday, LTC began trading on Gemini.

Gemini is the cryptocurrency exchange owned by the US Olympian Winklevoss Twins. Gemini is currently the 42nd largest cryptocurrency exchange by its total trading volume on CoinMarketCap.

BTC/USD pairs still equate for over 80% of the exchange’s volume in the last 24 hours. So far, LTC/USD only makes up 0.73%, with a volume of $214,836. On the 15th when the announcement was made about LTC being launched on Gemini, LTC surged 10% in an hour but quickly corrected.

The Litecoin Foundation also just celebrated its 7th birthday on the 12th.

According to CoinMarketCap, LTC is currently trading at $53.00 a coin, down -0.40%.

Check back in for more Ripple and Litecoin news!

Featured Image: Depositphotos/© adriantoday

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