Litecoin would be the official cryptocurrency partner of one of the fights of the Ultimate Fighting Championship (UFC) in America. UFC is a promotion company based in Las Vegas, Nevada. This is the first time a crypto company would be sponsoring a UFC fight.
Litecoin Sponsors UFC Event
Charlie Lee, creator of Litecoin announced this partnership on Twitter saying that the Litecoin logo will be on the canvas in the boxing ring. The boxing event will feature the main event rematch between former UFC light heavyweight champion Jon Jones against UFC light heavyweight Alexander Gustafsson. On Saturday, December 29 at the Forum in Inglewood, California.
Though this sponsorship is commendable, coupled with Lee’s drive for adoption, some fear that LTC is poised to bite the dust. In a massive swipe at litecoin, Francis Pouliot, the CEO and co-founder of Bull Bitcoin, an umbrella company of Satoshi Portal (bylls.com) and Bitcoin Brains, replied Charlie Lee’s tweet:
Litecoin is a useless shitcoin. The Litecoin Foundation pumping it to UFC fans serves no purpose other than $LTC bagholders dumping on greater fools
— Francis Pouliot ?₿ (@francispouliot_) December 26, 2018
Criticisms Against Litecoin And Its Creator
“Litecoin is a useless shitcoin. The Litecoin Foundation pumping it to UFC fans serves no purpose other than $LTC bagholders dumping on greater fools. The “bitcoin testnet” narrative is bullshit. Litecoin is not “silver to Bitcoin’s gold”, it’s Pyrite”. Francis went on to say that there can be only one currency — crypto or otherwise.
Erik Finman is the one who made his fortune off an early-stage investment in Bitcoin (BTC). Recently told MarketWatch that LTC has been “quite dead for a while,” likening the asset to the sun when it’s about to go under the horizon.
Bitfinex’ed, a popular critic on Twitter, has often criticized the cryptocurrency saying that it was “doomed from the start.” The anonymous critic also joked that the project, a Bitcoin fork, is taking a “perfectly good BMW (Bitcoin)” and replacing its wheels with smaller ones. That is in reference to the project’s quicker block times.
Charlie Lee was often also been criticized for selling off his personal LTC stash. Some say that he doesn’t have any “skin in the game”, which means he has nothing to lose. The prominent crypto-friendly entrepreneur has, however, always reaffirm his commitment to the project. He said has his sights on increasing LTC adoption by merchants, rather than specifically focusing on the code. Which he’s currently achieving now.
What do you think of the future of litecoin? Do you think people are being overly critical of the creator and the coin?