When it comes to PR mistakes, the cryptocurrency world has plenty of examples. On Wednesday, we got another unfortunate example of a digital coin’s creator sending out a tweet that got a ton of blowback. This time, it’s about Litecoin (LTC) – and how highly its founder thinks of Nano (NANO).
By the way, he owns NANO.
Here’s how the NANO tweet went down
Charlie Lee, the founder of LTC, posted a tweet where he highlighted what he recently learned about NANO in a positive way – and he didn’t forget to add an Oprah meme. He also honestly pointed out that he’s got some NANO in one of his wallets.
I think anybody that saw that tweet knew it probably wouldn’t go well. There are a lot of highly enthusiastic Litecoin supporters out there, and when they see its founder pumping up another coin that’s competing for LTC’s market share, they aren’t going to be happy about it.
The response wasn’t pretty:
Your integrity stinks, how do you think those heavily invested in LTC feel when you promote other currencies? Especially after issues with Litepay and people all ready questioning their LTC investment and then you go give away ETH. Do you have a conscience?
— Adam Webster (@Websteradam23) March 1, 2018
The response on Reddit was much nastier. What’s a little harder to understand are his defensive responses to the (rightfully) critical tweets. It just doesn’t seem like he’s doing himself any favors by pushing back.
Maybe it’s more confusion than anger from Litecoin holders
Sure, Charlie Lee is promoting a cryptocurrency that isn’t his and it’s also a direct competitor. But that’s actually not the most confusing part of it, and there are a few reasons for that.
First, this guy famously sold all of his LTC supply to lessen the appearance of conflicts of interest after he was accused of influencing the price of the cryptocurrency on Twitter. Now he goes and uses his massive Twitter influence to promote a coin he owns? That is a direct contradiction.
To be fair, he does point out that the difference is that he has no insider knowledge when it comes to Nano (NANO).
Charlie Lee on first string defense
On Twitter, Mr. Lee quickly offered a rebuttal to all the heat he had been taking – and it wasn’t exactly sugar-coated.
How much did you receive from nano to pump it, I don’t trust you anymore dude, how could you dump your own creation litecoin? And then you wear a shirt with HODL logo 🤷♂️ obviously you didn’t hodl 😑
— 💎Sam Diamante💎 (@tigermask_777) March 1, 2018
As you can see, the saltiness of the follow-up tweet wasn’t received well by everybody.
It’s really not a big deal to many, though
Just checking out the rest of the responses to Charlie’s follow-up non-apology tweet, it’s clear that a bunch of Litecoin hodlers truly don’t care about this whole incident. Some of them have even bought more LTC after this whole thing.
Check out some of the non-controversy:
So, as you can see – it wasn’t a PR disaster for a lot of investors. On top of that, the price hasn’t changed much since this happened.
It was all just a Twitter gaffe, but still – this isn’t a good look. It’s a simple PR mistake, and it doesn’t take away from the strength of the project or the value of the coin – or the utility of LitePay.
Maybe they should think about limiting the topics of Mr. Lee’s tweets for a while. Or not, it’s not our coin.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.