He describes himself as a cryptocurrency enthusiast but many would agree that he qualifies as an industry expert. Charlie Lee began his crypto journey in 2011 when he first learned about Bitcoin. In the same year, he created Litecoin by making some changes to the Bitcoin source code. Lee has since gone on to become one of the most influential crypto personalities.
Charlie had his university education at the Massachusetts Institute of Technology where he read computer science at the undergraduate and master’s level.
Prior to founding Litecoin, Charlie Lee worked at Kana Communications and Guidewire Software as a software engineer. He later held the same position at Google. It was during his time at Google that he created Litecoin.
The Litecoin founder became a part of Coinbase’s first group of employees in 2013 when he left Google. At Coinbase, he worked as an engineering manager and director of engineering before leaving in 2017 to focus on Litecoin.
The key differences between Litecoin and bitcoin are the block times and the cap on the total number of coins that will ever exist. Apart from Litecoin’s scrypt hashing algorithm, these were the main changes Charlie Lee made to the Bitcoin source code to create a cryptocurrency more suitable for payments.
From the onset, it was made clear that Litecoin was not intended to replace Bitcoin but to supplement it by serving as a payment network while bitcoin remained a store of value.
To the dismay of most Litecoin holders, Charlie Lee sold all his Litecoins in December 2017. The trade was probably the best of the year as he sold at near peak and the cryptocurrency market experienced a year-long slump shortly after. While most Litecoin community members were not enthused by the trade, it was not without explanation. According to the Litecoin founder, holding Litecoins and promoting it at the same time seemed self-serving. He, however, continues to work on the development of Litecoin.
In a recent conversation on a podcast with Anthony Pompliano, co-founder and partner at Morgan Creek Digital, Charlie mentioned that he thought the price of Litecoin was going to surge even higher when he made the decision to sell in December 2017.
“I actually personally did think it was going to keep going up. I didn’t think that was the peak…I thought it was going to hit $1,000.”
Charlie added that the return to a bullish trend was good news but clarified that he had no idea where the price will go next.
The Litecoin founder was also recently appeared in a photograph tweeted by U.S presidential aspirant Andrew Yang. Yang shared the picture of himself with Charlie Lee while calling for collaborative work to build the future.
By signing up for updates you will receive the most relevant global news stories. The CryptoFish News Desk cuts through the online hype so you don’t have to.