Former Olympic Wrestler Ben Askren Appreciates Litecoin [LTC] for Sponsorship Ahead of UFC 235

As most coins grapple with the January bear market blues, Litecoin is out there selling itself to the masses. Back in December last year, Litecoin …
Former Olympic Wrestler Ben Askren Appreciates Litecoin [LTC] for Sponsorship Ahead of UFC 235

As most coins grapple with the January bear market blues, Litecoin is out there selling itself to the masses. Back in December last year, Litecoin Foundation scored a win when it sponsored an Ultimate Fighting Championship (UFC) match between Jones and Gustaffson – the UFC 232 fight.

The Litecoinlogo was prominently displayed on the canvas during the match. At its peak, the pay per view event was watched by more than 2 million viewers. It seems Litecoin found a home at the UFC arena because according to an announcement by one of the UFC fighters, it is poised to sponsor him for a UFC match.

Former Olympic Wrestler Ben Askren is set to debut at the UFC ring Welterweight match against Robbie Lawler for UFC 235 and his main sponsor is Litecoin Foundation.

Ultimate Fighting ChampionshipUltimate Fighting Championship

Askren took to Twitter to express his appreciation to the Litecoin Foundation and community at large for the vote of confidence. In the 35 second video that he uploaded, he also mentioned that he was an investor in Litecoin and a big believer in Litecoin’s vision of bringing decentralization to the masses.

“What’s up Litecoin community? I just wanted to thank you for the sponsorship for UFC 235. I’m especially honored to represent you guys because you are a cause and something I believe in. Obviously, I hold a lot of Litecoin myself. I think it’s especially great when not just that I get a sponsorship, but when I get one that I believe in and that I think can help make a better future. And I think that all of you guys see that vision as well,” he said. In his tweet, he tagged Litecoin creator Charlie Lee and John Kim a Litecoin community ambassador.

Charlie Lee responded by retweeting Askren’s video message and commented that,

“I’m excited to see the community (#LTCEastCoastTeam & #LTCWestCoastTeam) come together to support @Benaskren. Litecoin Foundation takes no credit for this. Good luck in UFC 235, Ben!”

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Litecoin [LTC] reaches new milestone, 71.5 percent of total LTC mined

In an interesting development, Litecoin [LTC] reached an important milestone on Saturday. The altcoin announced that there are now 60 million LTC …

In an interesting development, Litecoin [LTC] reached an important milestone on Saturday. The altcoin announced that there are now 60 million LTC minted which constitutes 71.5 percent of the total LTC meant to exist. The Litecoin algorithm has set the limit of LTC to be produced at 84 Million which means that a total of 24 million is still left. This news was made public by the open source software project in its official Medium blog.

The blog says, “As of 12th of January 2019, block #1560000 minted into existence the 60 millionth Litecoin marking ~71.5% of the total 84M according to data provided by LitecoinBlockHalf.”

There’s also an important aspect to this development as it marks the point at which there are only 3 million more Litecoin left before the halving process, which will see the Block reward fall from 25 LTC to 12.5 LTC. The next halving is expected to occur around the 8th of August this year.

The blog further notes that at the current reward rate it takes nearly 70 days to mine 1 million new coins into circulation and after the halving this time will double to nearly 140.

As per the calculations, the final coin is estimated to be mined sometime in 2142 and at this point, 0.00000042 Litecoin will be the block reward.

In November last year, Litecoin creator Charlie Lee revealed the “threats” that the coin had faced during its early days and what he did to secure it. According to Lee, utilizing “checkpoints” to secure Litecoin was important for the coin as “there were threats of 51% attacks” and it made sense for a coin in its beginning days. Checkpointing is a very important feature as it depends on the developers to decide the right chain.

See Also: “I’ll eventually have to step away from Litecoin”, says founder Charlie Lee

Roger Ver & Litecoin’s Charlie Lee debate on Bitcoin [BTC]’s intrinsic value

Image via Shutterstock

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The founder of Litecoin [LTC] opens an intense debate on Twitter about “Bitcoin extremists”

Charlie Lee, the creator of Litecoin [LTC] is back on the limelight again and this time he’s defending his altcoin against Bitcoin ‘Extremists’. In a tweet …
The founder of Litecoin [LTC] opens an intense debate on Twitter about

Charlie Lee, the creator of Litecoin[LTC] is back on the limelight again and this time he’s defending his altcoin against Bitcoin ‘Extremists’. In a tweet Charlie argued that some Bitcoin Maximalists are actually Bitcoin Extremists.

In the past few days, Litecoin and some other Bitcoin forks have come under fire from Twitter users and several critics on the internet who identify as Bitcoin supporters. It seems Charlie felt the need to defend his coin and other altcoins against these hateful comments. He wrote:

“Some self-proclaimed Bitcoin Maximalists are actually Bitcoin Extremists. They think all other coins are scams and will go to zero. Maximalists think Bitcoin is and will remain the dominant cryptocurrency but there is room for altcoins to exist and even do well.”

In addition to his comments, he also included a survey to categorize the critics and investors. He invited users to identify and pick a category to which they feel they belong. His choices were a “Bitcoin Extremist,” “Bitcoin Maximalist,” “Altcoin Maximalist,” or “Nocoiner.”

Charlie Lee, the creator of LitecoiCharlie Lee, the creator of Litecoi

A Nocoiner is an individual who has never owned a cryptocurrency before. His Twitter poll attracted 28,478 votes with most (48%) identifying as Bitcoin Maximalists. Altcoin Maximalists came in second with about 33% while Nocoiners and Bitcoin Extremists followed with 10% and 9% respectively.

Lee’s comments attracted the attention of some influential industry experts including Dr. Vitalik Buterin, the creator of Ethereum, the leading altcoin by market cap. Buterin commented sarcastically saying

“Congrats on following my path @SatoshiLite! Do you want to go further and convince Litecoin to move to proof of stake?”

It is believed that it is indeed Buterin who coined the term (or at least popularized it) Bitcoin Maximalists to mean individuals who believe that Bitcoin is the only viable cryptocurrency that should be used for everyday use-cases and will be the coin that survives the test of time.

Lee’s tweet even earned a comment from CZ, the CEO of Binance. CZ wrote,

“Will be interesting to see how this plays out. But I believe in thousands of blockchain sand millions of tokens. Freedom implies choice.”

There is an ongoing debate on both social media and other cryptocurrency forums on the future of digital assets and which coins have the greatest staying power. Most investors are using these platforms to tout the supremacy of their coins while at the same time bashing the rest as scams and coins poised to collapse.

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El fundador de Litecoin [LTC] abre intenso debate en Twitter sobre los “extremistas de Bitcoin”

Charlie Lee, el creador de Litecoin [LTC] vuelve a estar en el centro de atención y esta vez está defendiendo su altcoin contra los ‘extremistas’ de …
El fundador de Litecoin [LTC] abre intenso debate en Twitter sobre los

Charlie Lee, el creador de Litecoin[LTC] vuelve a estar en el centro de atención y esta vez está defendiendo su altcoin contra los ‘extremistas’ de Bitcoin. En un tweet, Charlie argumentó que algunos Maximalistas de Bitcoin son en realidad Extremistas de Bitcoin.

En los últimos días, Litecoin y algunos otros forks de Bitcoin han sido atacados por los usuarios de Twitter y varias críticos en Internet que se identifican como partidarios de Bitcoin. Parece que Charlie sintió la necesidad de defender su moneda y otras monedas contra estos comentarios. Escribió:

“Algunos autoproclamados maximalistas de Bitcoin son en realidad extremistas de Bitcoin. Piensan que todas las otras monedas son estafas y que irán a cero. Los maximalistas creen que Bitcoin es y seguirá siendo la criptomoneda dominante, pero hay espacio para que existan altcoins e incluso que les vaya bien “.

Además de sus comentarios, también incluyó una encuesta para clasificar a los críticos e inversores. Invitó a los usuarios a identificar y elegir una categoría a la que sienten que pertenecen. Sus opciones fueron un “Bitcoin Extremist”, “Bitcoin Maximalist”, “Altcoin Maximalist” o “Nocoiner”.

Charlie Lee, el creador de LitecoinCharlie Lee, el creador de Litecoin

Un Nocoiner es un individuo que nunca antes ha sido dueño de una criptomoneda. Su encuesta de Twitter atrajo 28.478 votos, y la mayoría (48%) se identificó como Maximalistas de Bitcoin. Altcoin Maximalists quedó en segundo lugar con aproximadamente el 33%, mientras que Nocoiners y Bitcoin Extremists lo siguieron con un 10% y un 9% respectivamente.

Los comentarios de Lee atrajeron la atención de algunos expertos influyentes de la industria, entre ellos el Dr. Vitalik Buterin, el creador de Ethereum, el líder mundial en altcoin. Buterin comentó sarcásticamente diciendo

“Felicidades por seguir mi camino @SatoshiLite! “¿Quieres ir más allá y convencer a Litecoin de pasar a proof of stake?”

Se cree que, de hecho, que es Buterin quien acuñó el término (o al menos lo popularizó) los Maximalistas de Bitcoin como individuos que creen que Bitcoin es la única criptomoneda viable que debe usarse para los casos de uso cotidiano y será la moneda que sobrevive al prueba de tiempo.

El tweet de Lee incluso recibió un comentario de CZ, el director ejecutivo de Binance. CZ escribió:

“Será interesante ver cómo se desarrolla esto. Pero creo que en miles de cadenas de bloques hay millones de tokens. La libertad implica elección”.

Hay un debate en curso tanto en las redes sociales como en otros foros de criptomonedas sobre el futuro de los activos digitales y qué monedas tienen el mayor poder de permanencia. La mayoría de los inversores están usando estas plataformas para promocionar la supremacía de sus monedas mientras que al mismo tiempo golpean el resto como estafas y monedas listas para colapsar.

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Litecoin Fights Off Other Cryptos To Become First UFC Sponsor

Not for the first time, it’s Litecoin creator Charlie Lee versus the rest of the cryptocurrency market. Lee has declared that Litecoin will be the Official …

Not for the first time, it’s Litecoin creator Charlie Lee versus the rest of the cryptocurrency market. Lee has declared that Litecoin will be the Official Cryptocurrency Partner of UFC 232 – Jones vs Gustafsson in California on December 29th.

Now of course Charlie Lee knows a thing or two about getting pummeled mercilessly after selling all of his LTC just in time to escape the ravages of the bear market, so the UFC platform suits him just fine.

Excited to announce that the Litecoin logo will be on the canvas as the Official Cryptocurrency Partner of @UFC 232 on 12/29 in Inglewood CA! Read more: https://t.co/y4yvPWb6rjpic.twitter.com/ddML54j5GH

— Charlie Lee [LTC⚡] (@SatoshiLite) December 26, 2018


The rivalry between Jon Jones and Alexander Gustafsson is vicious, with Jones recently calling his opponent “delusional” and Gustafsson making hay of the fact that Nevada refused to sanction the fight following a failed drugs test on the part of Jones.

It sounds a lot like some of the Twitter fights that are unfolding in crypto of late.

Litecoin was once considered the “silver to bitcoin’s gold,” but it has since unceremoniously fallen from grace as rival coins including EOS have forced it to take a supporting role. Created as a fork of Bitcoin core in 2011, Litecoin boasts lower fees that are more conducive to everyday transactions like buying coffee.


Litecoin Logo To Appear On The Octagon Canvas

The UFC deal represents a first for a cryptocurrency to be spotlighted inside the Octagon, positioning the Litecoin logo in front of potentially millions of pay-per-view fans and possibly some Google searches to boot.

“This is a milestone for Litecoin and cryptocurrency in general as no other coin has sponsored a UFC event to date. With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream.”

Litecoin is not the first crypto project to go mainstream with its advertising campaign. EOS has made its way onto the Times Square Jumbotron, as has crypto exchange BitMart, which ran an ad on the Nasdaq Tower.

Litecoin could use some positive attention ever since Lee has become a punching bag of the crypto community for liquidating his Litecoin portfolio. He also predicted the bear market of 2018, warning investors a year ago not to invest in LTC if you can’t handle it dropping to $20. He wasn’t too far off, as today LTC is trading at $30 on CryptoCompare.

As for the fight, one Reddit member cleverly suggested it will be a “no HODLs barred event.

The author is invested in digital assets, including bitcoin which is mentioned in this article.

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