Mike Novogratz, the founder of venture fund Galaxy digital, attacked Litecoin, saying people should sell Litecoin and buy bitcoin. This obviously did not sit well with Litecoin’s creator who immediately took to Twitter to rebuff Mike Novogratz’s claim.
Mike Novogratz alleges that Litecoin is nothing but a glorified testnet of Bitcoin, and has no real value. According to him, unlike Silver Litecoin isn’t useful and has no industrial value. To this Charlie Lee responds,
https://twitter.com/SatoshiLite/status/1113919481477120001
Charlie Lee’s tweet became quite popular with many people from the cryptocurrency community taking different sides. Cobra ( @CobraBitcoin ), co-owner of Bitcoin.org, even compared Charlie Lee’s tweet to that of Roger Ver’s.
Replace "Litecoin" with "Bitcoin Cash" and "LTC" with "BCH" and this reads exactly like a Roger Ver tweet. Only difference is Roger believes his own bullshit and didn't dump all his BCH on his followers at the top.
— Cøbra (@CobraBitcoin) April 4, 2019
But community support for Litecoin was strong.
They have been saying ltc is useless for years, but still moving strong! 🙂 #goltc
— or perelman (@perelmanor) April 4, 2019
Promoting more Litecoin
In his response to Mike Novogratz, Charlie Lee also promoted Boltz.exchange. Boltz is low fee submarine swap built on top of Bitcoin’s Lightning network, which allows for easy swapping of Litecoin and Bitcoin. According to Charlie Lee,
Users can use LTC to fill up your BTC wallet
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