Litecoin, a smaller cousin of bitcoin, has seen its value more is litecoin good investment double in just one day. Litecoin creator Charlie Lee tweeted a sobering warning to those not prepared to lose their entire investment.
Still, Litecoin fans on Reddit were preparing celebrations, some of which seem fairly risky. Cryptocurrencies have exploded since bitcoin futures began trading in Chicago over the weekend. Creator Charlie Lee wasn’t celebrating like some other Litecoin holders, though. That didn’t stop some Redditors from planning celebrations as litecoin passes more milestones. Jay Clayton, head of the Securities and Exchange Commission, also weighed in on the cryptocurrency craze Monday. The world’s social media platforms and financial markets are abuzz about cryptocurrencies and initial coin offerings. There are tales of fortunes made and dreamed to be made,” he said.
Receive all Bitcoinist news in Telegram! Forks are now commonplace in the crypto industry. Bitcoin has had more of them than an Italian restaurant in recent months. While they may cause confusion to those new to the scene, they are essentially just another version of the original blockchain. Litecoin may not be all that it seems. It has been reported this week that Litecoin founder Charlie Lee is actively warning people not to trust or invest in Litecoin Cash. The new version apparently has nothing to do with the original LTC and is just using the name to generate interest and dupe people into believing it is.