Thanks @anonyhack for the info! Like in the case of any other largely community-supported cryptocurrency, and based on free software infrastructure, it'll be a very temporary dump. The Litecoin ecosystem is feeding a wide array of long-term and fruitful processes :-)
I copy below the introduction of a @ecurrencyhodler message published on the Litecoin subreddit:
"Don't Trust, Verify: A word on supporting Litecoin businesses and applications
Many of you were skeptical about Litepay. You were right.
It's time we got back to the fundamentals of blockchain.
"Don't Trust, Verify"
The point of a blockchain is to remove trust in a transaction. You don't need a 3rd party to confirm whether your transaction went through. In this way blockchain tech is a peer to peer currency. The reason for this is that trust can be easily built, leveraged, abused, and manipulated.
We now urge people to question everything. Don't take news at face value.
As for the Litecoin Foundation, its employees, or its volunteers, every business we retweet is not an endorsement nor an indication that we have thoroughly reviewed their business model. We're just excited about different people adding LTC support. But we will also be more cautious about what we retweet.
If litecoin were a business, we would micromanage every part of this. But as it is an open-sourced project, anyone body can build on top of Litecoin. Unfortunately, this may include bad actors sometimes.
So please be cautious, wary, and think critically. It is much better to verify the legitimacy of businesses yourselves rather than to trust our word on it".
Thanks @anonyhack for the info! Like in the case of any other largely community-supported cryptocurrency, and based on free software infrastructure, it'll be a very temporary dump. The Litecoin ecosystem is feeding a wide array of long-term and fruitful processes :-)
I copy below the introduction of a @ecurrencyhodler message published on the Litecoin subreddit:
"Don't Trust, Verify: A word on supporting Litecoin businesses and applications
Many of you were skeptical about Litepay. You were right.
It's time we got back to the fundamentals of blockchain.
"Don't Trust, Verify"
The point of a blockchain is to remove trust in a transaction. You don't need a 3rd party to confirm whether your transaction went through. In this way blockchain tech is a peer to peer currency. The reason for this is that trust can be easily built, leveraged, abused, and manipulated.
We now urge people to question everything. Don't take news at face value.
As for the Litecoin Foundation, its employees, or its volunteers, every business we retweet is not an endorsement nor an indication that we have thoroughly reviewed their business model. We're just excited about different people adding LTC support. But we will also be more cautious about what we retweet.
If litecoin were a business, we would micromanage every part of this. But as it is an open-sourced project, anyone body can build on top of Litecoin. Unfortunately, this may include bad actors sometimes.
So please be cautious, wary, and think critically. It is much better to verify the legitimacy of businesses yourselves rather than to trust our word on it".
Source:
How many flags on spam comments to get a rep score down to zero...?
Experiment in progress...