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RE: Litecoin Founder Cashes Out, Sells Entire Stake After 9,300% Rally
What amazes me is that the market doesn't care ! LTC markets did not react in any way. If there is insider selling in a normal stock, the stock would plunge greatly ! He says that he has liquidated every LTC in his portfolio and nothing. That is crazy.
That's crazy. Lee is the reason I never bought Litecoin. I can't stand the guy.
Wow. You cant stand the guy so you didnt buy a coin that ended up over 9300% on the year?
You think letting personal feelings getting in the way of the course of your investing is a good idea, especially when said guy is one of the brightest people in the blockchain/crypto realm.
As Litecoin is technically Bitcoin: Will it under heavy load not also be WAITCOIN as Bitcoin is? Maybe he knows this well. And is modest and cashes out early.
Everybody is entitled to their opinion. There are plenty of projects, so if you don't like the project leader, you should not invest. You are right in general that emotions are bad for decision-making.
I am not after coins that pump and don't hold gains or that will not be around in a few years. Its just never been clear what advantage LTC has. I have nothing against Litecoin. In fact, transactions have really been picking up in LTC. % gains are still better in ETH up over 10,000% but yes LTC has done well in price terms but I am looking longer into the future with Blockchain 3.0 taking over.
You trusted your gut feeling. I think this can be very useful, if you have developed something like a 6th sense.
Blockchain isnt a stock which is the mistake people try to make.
There is no reason for crypto to behave like any other asset....it is a technology and nothing changed since Lee sold.
It isnt as if there is insider trading and Lee knows they are going to have a bad quarter.
Something changed in my opinion: Bitcoin now clearly shows that it's broken:
https://blockchain.info/unconfirmed-transactions
https://charts.bitcointicker.co/#mempoolsize
https://trends.google.com/trends/explore?q=bitcoin%20unconfirmed
I am not blessed with your knowledge, but when the creator of something sells everything after a sharp rally - I would think that maybe at this point in time - things may be a bit over-valued. Not saying that there is no room to grow ! Just my two cents.