STOP! Before you call the SEC and claim some anonymous "individual" named Satoshi Nakamoto has scammed you out of your tuition money for this semester and start making a golden shrine dedicated to Jamie Dimon, realize that this is what happens in the market.
Undoubtedly, the past two weeks in the crypto-space have been one of the most tumultuous periods in the space, to say the least. On the 4th of September we saw the PBOC (People's Bank of China) issue a statement that labelled ICO token sales as illegal. Then, on the 14th, after rumors of China forcing exchanges to shutdown, even though there is yet to be an official statement from the Chinese government, BTCChina announced that it would be shutting down its operations by the 30th of September, causing another huge sell-off. To add to all the FUD, JPMorgan CEO Jamie Dimon decided to take his frustrations with the patent offices, who rejected the JPMorgan patents for a cryptocurrency of their own, out on the Bitcoin markets by using the Mainstream FUD Machine to inject his view that Bitcoin is a scam. All this saw Bitcoin prices lose around $1500 usd/btc from highs seen earlier this month around the $5000 mark. Everyone was panicking. If you weren't a noob panic selling then you were a seasons crypto-trader worrying about how many noobs were going to panic sell. Knives were falling, blood was in the streets and no one knew how to time the dip or when it would end if it would end.
There was one hero, however. One man who tried to warn us all, but was crucified by the panicked masses. That hero was none other than Litecoin creator Charlie Lee. During all the chaos Charlie took the time to show us his new shirt and to pass along a message from an "anonymous" source:
The tweet heard 'round the cryptoverse
After posting this, the market dip seemed to get quite worse, leading some people to actually blame Charlie for the dip. Some people were threatening him and saying that he was simply spreading FUD. Chances are, many of those who were calling this FUD were noobs in the space who have no real idea who Charlie is. They probably have no clue about his history. Never watched interviews Charlie has given and probably only know that he is the creator of Litecoin, if they even know that. Those who were blaming Charlie for what was already going on in the market and do happen to know who he is, were simply too naive or stupid to take into account that he is the younger brother of Bobby Lee, the CEO of BTCChina.
Bobby Lee, brother of Charlie Lee and CEO of BTCChina
To anyone with a brain it almost seemed obvious who the trusted "anonymous" source was. After all, who would really expect Charlie to just come out and say "Oh yeah, it was my brother"? Especially since this is something that could potentially involve the Chinese government. But, in times of crisis, people never seem to think rationally and only seek to point their finger at someone, as if calling people out will somehow stop the crisis at hand.
I don't think that I have ever seen Charlie Lee use his twitter platorm, on which he has over 130k followers (I wouldn't be surprised if some users unfollowed him because of all this), for anything other than stating his honest opinions or to fill Litecoin holders in on advancements in LTC's development. He obviously realizes that his activity on Twitter tends to affect the price of Litecoin and has even warned potential investors during certain interviews that price increases during those particular live-streams or mainstream media interviews could simply be traders pumping the price to coincide with his interview and to be cautious.
So, with that being said, I think everyone who has been and may potentially still be giving Charlie Lee shit for actually trying to HELP crypto investors in general by spreading inside information that his brother may or may not have wanted him to spread, owe him a HUGE apology. In addition, those who haven't taken the time to get to know Charlie through his interviews or on Twitter, you really should. He's a very intelligent software developer and a good hearted person over all.... So go do it. You dicks.
Also, if you get a chance and you are so inclined, you should check out his vision for SegWit and Lightning Network.
And always remember to HODL!
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