Surprise or scare? Litecoin "renamed" BitcoinLite

After several heated discussions within the Litecoin community, Litecoin has decided to conduct a revival marketing campaign - Litecion will be renamed "BitcoinLite".

The April 1st Fools are over, but there is still a running joke in the crypto space.

Litecoin (LTC) founder Charlie Lee tweeted out a "statement" that Litecoin will be renamed BitcoinLite "just like Satoshi Nakamoto wanted."

Mango: The hacker has returned $67 million in tokens, and will vote next week to determine the distribution process: On October 16th, Mango tweeted that the hacker had returned $67 million in encrypted assets to the DAO as agreed. The community will discuss how to handle these assets on the Mango Discord at 15:00 UTC on Monday. Some developers have taken charge and are working on an algorithm to determine the refund amount for the relevant accounts, as well as a separate program to reallocate the funds.

Mango said there will be multiple DAO votes over the next week to agree on exact procedures and amounts. Some of these votes will take up to 72 hours. [2022/10/16 14:29:23]

Li Qiwei tweeted a screenshot of a version of the Bitcoin white paper written by Satoshi Nakamoto to emphasize the letter "LITE", and attached a link to the official website of the Litecoin Foundation, which has now been renamed the BitcoinLite Foundation. “Like Bitcoin,” but “Lite’er,” reads the site’s homepage. The site even offers users a BitcoinLite wallet. It stated that "BitcoinLite is 4 times more scalable than Bitcoin", with higher transaction fees and a supply of only 84 million. This website contains the following information:

Micro Cash Flow Investing App Amasa Partners with Animoca Brands: On March 21, micro cash flow investing app Amasa announced a partnership with Animoca Brands. The cooperation between the two parties will enable users to seamlessly integrate the aggregation, tracking and investment income links in P2E, while increasing the profit potential of Web3. [2022/3/21 14:09:17]

"After several heated discussions within the Litecoin community, Litecoin has decided to conduct a revival marketing campaign - Litecion will be renamed 'BitcoinLite'."

Taekwondo studio KickHouse and JPEG DAO jointly released NFT: On December 29th, Taekwondo studio KickHouse announced the launch of NFT collections. JPEG DAO artist Nettie Bella was responsible for designing the KickHouse NFTs, which were minted on Litemint by KickHouse in partnership with JPEG DAO. (PRNewswire) [2021/12/29 8:12:26]

The reasoning behind the name change was that they saw it as an opportunity to catch new investors who had been “confused” by the different forks of Bitcoin, including: Bitcoin Cash, Bitcoin SV, and Bitcoin Gold. These investors consider each fork of these versions to be "the real bitcoin." Thus, the "BitcoinLite Foundation" may gain new fans "that we have been missing before."

The page outlined a false roadmap, starting with a "takeover" of the Bitcoin domain name and changing information related to the cryptocurrency to BitcoinLite information. However, its announcement also made some “real” observations about Litecoin and highlighted what some members of the crypto community would later call a publicity stunt. The site also claims:

"Big thanks to community donations to help make this happen as Litecoin unfortunately didn't have an ICO launch to help pay for everything... We've had a lot of trials and tribulations along the way, but we're happy to finally get to this point... April 1st sign With the start of a brand new quarter, we are starting to build on that so far.”

Litecoin on an upward trend

According to comparison data, after Li Qiwei’s false statement was released, as of writing this article, Litecoin’s highest increase was 4.3%, and it is still in an upward trend. Litecoin is currently trading at $201.52, up 14.9% over the past week.

Most recently, lead developer David Burkett completed the MimbleWimble extension block code. The protocol aims to bring additional privacy and scalability features to the blockchain. However, the price of Litecoin did not significantly benefit from the news.

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