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Rumor: Charlie Lee admits no real progress made by Litecoin

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Pictures of leaked chat between Litecoin founders Charlie Lee and Franklyn are circulating on Reddit and Twitter. In the chat, Lee admits that there has been no real development in the company. He also admits about lack of transparency and privacy issues. Later CryptoRus who posted the leaked chat pictures tweeted another screenshot of chats where Charlie Lee acknowledged that he did say those things to Franklyn in a semi-public chat room.

Assuming that those pictures are not fake, Charlie Lee has made some confessions about the “progress” of LTC. In response to Franklyn’s statement that he was disappointed to discover that no progress had been made on CT since the announcement, Lee said that no one is interested in working with Litecoin protocol. He also said that it (LTC) is a decentralized currency, and people need to stop looking at him to make things happen.

This leaked chat has come as news for people who were under the impression that LTC is making progress as promised by its executives. People are speculating that the future of LTC looks grim. Litecoin recently went through the halving process after which people expecting its price to up but so far there has not been any noticeable change.

In the coming LTC summit, Chalie Lee may face a tough line of questioning from the Litecoin community. In the chat, he also pointed out that throwing money into the project won’t help and no competent developer is ready to work for LTC.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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