Connect with us

News

Litecoin’s Charlie Lee says Ripple uses the ‘fake it until you make it’ strategy

Biraajmaan Tamuly

Published

on

Source: Pixabay

The price of XRP plummeted by 11.23% in the last 24 hours further pushing the price of the coin to a yearly low of $0.2389. With a market cap of $10.27 billion, XRP stands third on CoinMarketCap’s list with a trading volume of only $2.32 billion. Several prominent people from the crypto community have highlighted that XRP is currently undergoing hyperinflation.

In a recent episode of Charlie Shrem’s “Untold Stories” podcast, Litecoin’s Charlie Lee was seen addressing the same. Lee pointed out that Ripple had been shunning rumors that they had printed 100 billion coins for themselves initially and argued that someone else printed them. However, Shrem revealed that they were offering him millions of dollars worth of XRP if he had agreed to have added Ripple to BitInstant. Additionally, Shrem responded to them via mail suggesting that,

“I don’t think Ripple has any feasibility. I’m not taking your bribe. Have a nice day.”

Furthermore, Lee went on to say that Ripple was on a mission to change history by insisting that they didn’t create the coins. He believes that the company is suggesting that Jed McCaleb individually created the coins and then donated it to Ripple. (Recently, 100 million XRP was transferred from Ripple to the company’s former CTO, Jed McCaleb). Irrespective of the story that Ripple is trying to tell, it is quite evident that 100 billion was created out of thin air and was used to bribe people or giveaway the coins, Charlie Lee added.

Additionally, Lee spoke about Ripple’s firm position on CoinMarketCap’s list. He believes that Ripple used the “fake it until you make it” strategy as they would claim that they were using XRP and enter into partnerships. This marketing strategy would help surge the price of XRP and Ripple would again sell XRP every year in order to fund their company, Lee stated.

In a reaction to the article, David Schwartz took to Twitter to set the record straight regarding XRP’s creation:

Did you like this article?

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

8 Comments

8 Comments

  1. Avatar

    Lendell Davidson

    September 26, 2019 at 4:10 am

    Should be tip off not ripple the ex partner leaves and starts his own company but is able to sell 500000 a day he must have his own printing press

  2. Avatar

    RidgeHood

    September 26, 2019 at 6:09 am

    Xrp is much better than litecoin because it doesnt need people to mine and waste electricity. Any coins that need yo be mined are doom and useless.

    • Avatar

      Neyo

      October 8, 2019 at 10:20 pm

      blocktivity.info Tells you all you need to know about who is doing what in the blockchain space. EOS has the most activity with 50 million LTC is at no 23 with 26 thousand. Not even close. Charlie Lee lost all credibility when he sold all his LTC at the top of the 2017 market. Full disclosure I don’t hold or have an interest in either coin. I will say XRP is seems to be really making a difference in the payment space.

  3. Avatar

    Racquel Namuche

    September 26, 2019 at 7:39 am

    Charlie Lee is someone who does not have confident in Litecoin sold all his coins, and now talks trash about other crypto. Would you believe him?

  4. Avatar

    CharlieLeeSucks

    September 26, 2019 at 7:57 am

    Says the guy that told all those that held Litecoin to keep buying the pump while he was selling off all of his holdings…fuck off Charlie.. your irrelevant wanna-be bitcoin clone has no active development and won’t scale for shit.🖕

  5. Avatar

    Earl Coles

    September 26, 2019 at 8:29 am

    Oh my, here comes the ripple army.

  6. Avatar

    Timothy Snow

    September 26, 2019 at 9:02 am

    Charlie’s Right.!
    + 500k ‘obtained’ followers 12/17 – 01/18 w/ 75% fake, spam or inactive.

    Faked It ‘Till They Maked It 😂

    https://adobe.ly/2mJp1ES

  7. Avatar

    Kronsteen

    September 26, 2019 at 6:54 pm

    The same Charlie Lee that dumped his own coin? Okay… just checking.

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletter