Aprils Fools was virtually over, however there was nonetheless a joke in retailer within the crypto house. Litecoin creator Charlie Lee made a fake announcement through Twitter claiming that Litecoin could be rebranded to BitcoinLite, “as Satoshi Nakamoto intended.”
Lee posted a model of Bitcoin’s whitepaper highlighting the letters LITE and a hyperlink to Litecoin Foundation’s official web site renamed BitcoinLite Foundation. The house web page reads “Just Like Bitcoin. But ‘Lite’er!”, including that Bitcoinlite is “4 times more scalable than Bitcoin” with increased transaction charges and a provide of solely 84 million cash. It even supplied customers a BitcoinLite Wallet. The web site contained the next message:
After a number of hard-fought, intense forwards and backwards discussions throughout the Litecoin neighborhood, it was determined that Litecoin will bear a rejuvenating advertising and marketing marketing campaign — Litecoin shall be rebranding itself to “BitcoinLite”.
The motive behind the rebranding was a supposed alternative to seize new buyers “confused” by the completely different forks of BTC (Bitcoin Cash, Bitcoin SV, Bitcoin Gold). These buyers assume that every of those variations is the “real BTC”. Therefore the “Bitcoinlite Foundation” may achieve new followers that “we’d previously been missing”.
The web page outlines a fake roadmap that begins with the “takeover” of the Bitcoin area and altering the data associated to this cryptocurrency to BitcoinLite data. However, the publication makes some “true” observations about Litecoin and highlights a few of its options in what some members of the crypto neighborhood later referred to as a publicity stunt. The web site claimed:
Community donations shall be a lot appreciated to assist obtain this activity, as Litecoin sadly didn’t have an ICO launch to assist pay for all the pieces (…). It’s been a wild experience getting right here, however we’re so glad to lastly have reached this level (…) April 1st marks the start of a contemporary, brand-new quarter and thus far, we’re beginning it off with a kick.
Litecoin is rebranding to BitcoinLite!https://t.co/ScDeF3hf97
BitcoinLite as Satoshi Nakamoto supposed.#BitcoinLITE #BitcoinLiteFAM pic.twitter.com/oEaPS0yhtV
— Charlie Lee [LTC⚡] (@SatoshiLite) April 1, 2021
LTC on the rise
After Charlie Lee’s fake announcement, LTC went on a 5.3% rally, on the time of writing, and is likely one of the high gaining cash within the 24-hour chart after Filecoin (27%) and UNI (6.3%). LTC is buying and selling and $203 with 14.9% positive aspects over the past week.
Recently, MimbleWimble via Extended Block code was completed by lead developer David Burkett. The protocol is meant to carry extra privateness and scalability options to the blockchain. However, LTC’s worth has not benefited from the information.
