Good Investing: A Look at Charlie Lee of Litecoin (LTC) Success
Charlie Lee of Litecoin (LTC) How I more than tripled my profits over this past weekend
The basis of my investment strategy:
Warren Buffett, he’s a multi millionaire earned through investing. What is interesting isn’t how much he makes, but rather how he has profited consistently. Buffett doesn’t invest in companies or businesses, he invests in people.
He focus on the leadership positions, evaluates them based on three qualities:
These are the three attributes he believes correlate with success. This is the same strategy I employ while investing into cryptocurrency. I study leadership evaluating them based on these same attributes.
For starters, let’s review Charlie Lee, the creator of LTC “litecoin”. Just following his twitter, it’s obvious he possess the key character traits of success. He seems promising – see below…
Image 1 – Litecoin (LTC) Founder Charlie Lee – Source: Steemit
He is the first and practically the only creator of a cryptocurrency that is transparent and honest. He speaks realistically and helps keep the community he has built level headed. He cares deeply not only about the success of the cryptocurrency he has created, but also about those who invest in it. He has a passion for innovating the world’s trade system and “litecoin” proves to be the medium for this change.
This speaks for itself – the dude is brilliant and an expert in the field. Ex-engineer at “coinbase” and creator of “litecoin” says it all.
This guy never sleeps. He has giant aspirations and a passion for what he is doing, so much so that he has instilled this same passion in his loyal fan base. Here is his plan for “litecoin”: https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b This further reinforces that litecoin has at least another 200-300% to go in the near future.
So now what?
Once I identified that he has the character traits destined for success, the next step was to track his actions, to predict when the market would began tilting in his favor. Or in this case rocket to the moon.
- Marketing launch on December 8th
- CNBC Interview on December 11th
The start of this snowball effect occurred on December 7th, when I found out that Mr. Lee had an interview planned for CNBC via his twitter post.
He shared a few other subsequent tweets joking that he “might” mention litecoin.
Based on the actions being taken by the leadership, litecoin could only go one way; up. I had to buy in, so bought a hefty amount at about $102 a coin. As of writing this (Dec 12th) it’s peaked at about $412 and settled at around $350. I am watching all the major factors seeing if I can predict the ups and downs.
To wrap it all up the only sure way to predict the market is to watch the leadership, after all the whole market is based solely from consumer behavior. Spend more time looking at the actions taken by the leadership and less at graphs to uncover patterns.
Find the road leadership is paving and you will be a step ahead of the masses who travel it. To guess the trajectory of the masses, start by identifying who is being followed.
Where will this go?
In order to determine how far and how high lite coin will go we will have to look at the marketing plan for litecoin. They decided to go after the older generation, specifically targeting people of the age 60 and above.
The choice to targeting an older audience means that results are sure to follow and quickly. The target audience doesn’t want to wait, they desire results today because they might not make it tomorrow. This is the starting bridge of cryptocurrencies going from early adopters to mainstream. But more on this on my next article…
Ex-Google engineer, Charlie Lee is the creator of Litecoin and MD of the Litecoin Foundation. Previously Director of Engineering at Coinbase, Lee now focuses full-time on Litecoin. To enhance fungibility and privacy of LTC, integration of MimbleWimble has begun, however Lee has recently announced a crowdfunding launch to fund the development.
Coinbase is a digital currency exchange headquartered in San Francisco, California.