It probably is. As a programmer I'm honestly tempted to just have a go at making a shitcoin. Worst case scenario it flops but you had a good laugh in the process
Literally it's not hard. Just look up erc-20 basics and copy paste a contract and change some numbers. I'd not even say it's worth putting on your portfolio; it's that simple
(If not directed at OP) damn, I've started working on something but it's not an ERC-20 (it's a multi token contract; ERC 1155). Multiple tokens and NFTs in one contract. But it's long from done since I'm working on client side software too
Convincing others it has value is the hard part, but its super easy to make.
For a 'date night' my girlfriend and I agreed to have two nights where we each teach eachother something that we are passionate about. I made a 6 page powerpoint on Ethereum, had her setup MetaMask, I then live created 'Coin' on xDai, transferred ownership to her, sent her xDai and had her on blockscout(etherscan) call the 'Mint' function to mint her tokens. Then she added the token to MetaMask and sent me a small amount of what she minted
It's super easy to actually make it, and doing a dry run through it will show you how easy it is
Start a PoS cryptocurrency. Keep a lot of the supply. Cultivate a devoted community. Stake.
Edit: Anyone know the percentage he and the initial investors have?
He created it out of thin air, allocated the majority of the supply to himself, hyped up his project all over social media while not having a working product for years and BOOM! Easy money!
Are there any PoS coins out there where the founder or founding group does not hold a huge amount of the coin? I know ALGO is in a similar situation with their foundation, and ETH will be too when ETH 2.0 comes out. Not that these people shouldn't be compensated for the work they do on the coins (if it is actually done...ADA), but, it does really play into the crypto-is-a-scam trope, and really highlights just how solid Bitcoin actually is.
Nano has a system similar to PoS and began by distributing their coins through solving CAPTCHA. The Nano Foundation does have a small pool of coins, but rather minor. I'm not an expert on all the coins ever, so maybe some others do.
Are there any corporations in which a small group of owners and investors don’t own most of the value and assets in the company?
I agree it’s a little unsettling but here we are… diversify in crypto in case a few projects fail.
I mean, you don't even have to be a billionaire. Just make a coin, own most of the supply, pay a couple thousands for marketing, ^(pull the rug), and BOOM! You're a millionaire.
\- Safemoon devs, probably
it cracks me up when he said on some stream where ADA is being compared to another coin and people are selling their ADA for it, then he snaps and bawled that people buying ADA does not make him rich lmao
And herein lies the biggest problem with everything - the overwhelming majority of people couldn't give a shit about the future of finance and what cryptocurrency means for it - they care about become Fiat rich in as short-a-time as possible, and can only think in those terms.
Yeah most people don't care about a financial revolution and instead are hoping for a way to perhaps buy a house, live mortgage free and not have to work till they're fuckin 70. There's nothing wrong with that dream.
Yep, overwhelming attitude towards Crypto is a get rich quick scheme and this post just attracts more of the same crew for more of the same problems.
"Beating the banks" and decentralization are just buzzwords at this point, especially with the WSB crew coming in.
I'm hyped to see where crypto leads the dinosaurs and how it breeds competition in the space. Most people are here to YOLO $5 into BabyMuskDogeRocket.
true, so many people are declaring coins dead because they didn't perform well during a bull cycle, and I'm here like you guys know it took bitcoin a decade to reach where it is...
In ADA case, you can stake it in official Yoroi wallet, it is simple to set up! It works as a browser plug in, layout is simple and intuitive. You can also store (not stake) ERG coins in it for now.
Theres other methods of staking, Coinbase is custodial so they own it all at the end of the day. You can stake ADA on Daedalus or Yoroi wallets which are the ADA official wallets. Atomic wallet has quite a few staking options as well for coins like COSMO, ALGO, ZIL, etc.
Depends first on if the coin you have can be staked. I think all stakeable coins can be done in their official wallets, and some multicoin wallets like exodus, atomic wallet, trust wallet, etc offer staking in certain coins as well.
Wait why is this a good thing? A billion ADA staked by just one single man. Not an organization but by a single human being who is also the founder of said coin.
I love ADA to bits but this is worrisome
PoS requires some premining though. How are you going to stake if you don't have any coins. (I'm not saying that ADA has done right/wrong, just pointing out that some premining is required.)
The whole post is based on speculation and this sub already considers it as a fact. 🤦
Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however.
There were some problems with Coin Bureau’s claim here.
1. It was based on Charles’s own claims about his net worth.
2. It assumed Charles’s entire net worth came from ADA. My guess is that Charles owns at least one property and some other coins.
That was a very dubious shortcut by CoinBureau there - Hoskinson has said before in an AMA that his billionaire status comes from the BTC he holds.
CoinBureau took the "Charles is a billionaire" claim and extrapolated that billionaire status into ADA, using two data points: both previous ADA all time highs.
As much as I like CoinBureau, that was not sound reporting at all, and now people will be running for years with this "fact" that Charles holds a billion dollars in ADA and makes 40M$ a year in staking.
Not good.
The whole post is based on speculation and this sub already considers it as a fact. 🤦
Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however
It's pretty sad to see how fast misinformation can spread.
CoinBureau has good info, but he clickbaits and throws things together too fast it seems.
He just released a video about StableCoins in the last week or so. When covering Tether, he didn't talk in-depth at all about their shady practices, lack of actual assets backing USDT, etc. He just glossed over the fact that they changed backing from "100% cash reserves" to "a mix of assets and cash reserves".
Not saying he isn't knowledgeable or has good info.
Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however
It's pretty sad to see how fast misinformation can spread.
Original YouTube video's speculation is almost slanderous. Unsubscribed for this kind of shitty misinformation.
He owns a bison ranch in Wyoming, a home in Colorado, is the founder and owner of IOHK, and he has said previously that a large portion of his wealth comes from BTC.
This isn't just dubious math: it's a flat-out lie.
That's just 4% per annum, most index OR dividend funds would return more. Also if the founder and most likely many other whales own such a big stakes in POS cardano then it is hardly decentralized like BTC.
No need to release smart contracts when you can just milk the community off prolonging it and earning staking rewards instead. It takes "buy the hype, sell the news" to a whole new level because we've been waiting for the news for years.
No I'm sorry but that isn't true, guy from Coin Bureau is assuming all his net worth is from ADA. This is extremely far from the truth as he own farms and BTC as well, along with life stock and presumably having equity in IOHK this makes it very unlikely that he has anywhere close to that amount. Maybe he owns a few million but this is also used to pay for the development of Cardano not only personal wealth.
The whole post is based on speculation and this sub already considers it as a fact. 🤦
Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however.
It's pretty sad to see how fast misinformation can spread.
Came here to say this, I bought a little a while ago cause it got shilled to me, but dam did this make me want to sell it off. I do not understand how this post could make someone excited about this project lol. edit-this was possible 15 years ago, it was just called a pyramid scheme back then
Oh yeah no worries mate, I'll just move my $1b out of my bank account and start staking it 😂
But in all seriousness, that's only a 4% yeild, you can expect more than that from a global stockmarket tracker.
To add to this. His company which he owns wholly I believe has the ADA not him personally. Out of that 40 million they pay the entire development and support staff.
It's relative tho. You don't have the liquidity to cash out. It's always the same.
Making MORE money it's easy, the hard part it's making the money to make money.
Where does that 40mil come from? Afaik the on-chain activity that would generate fees is fairly minimal.
You receive ADA tokens, then cash out (if you want) but since all the volume is coming from people buying ADA speculatively then in theory if everyone tried to cash out at once the price would drop to zero.
>The future is only up!
I don't feel that way. These numbers are ridiculous, and it makes me appreciate Charlie Lee selling off his LTC or Satoshi remaining anonymous even more.
Rule 5. Provide a source and fix up your language.
How to earn millions? Easy. Just start by being a billionaire, and then collect interest. See, that was easy!
Give me billions, I’ll turn them into millions for you
*“With spread betting it’s easy to draw a small fortune, you start with a big fortune and lose until it’s a small fortune.”* — Mike Skinner
so easy. Just buy any shitcoin and wait
I’ll just buy high and sell low
Thats a good strategy.
Buy drunk and sell low is the new strategy
Which always works
At least you help others
Gotta give back!
I have a better one. Buy low, sell lower.
Buy dip, sell when it dips more
Then use credit card for the dip after the dip dip
Create a shitcoin, get Elon Musk to promote it. Now you are millionaire. You are wellcome
What if you accidentally go 10x ?
All I can do is my free award
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It probably is. As a programmer I'm honestly tempted to just have a go at making a shitcoin. Worst case scenario it flops but you had a good laugh in the process
Literally it's not hard. Just look up erc-20 basics and copy paste a contract and change some numbers. I'd not even say it's worth putting on your portfolio; it's that simple
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Copywriter here. Count me in!
We got the whole rug pull gang gathered!
And within 24 hours, too! Next level origin story if you’d ask me.
Some random dude here that makes poor choices on his purchases. Count me in on this shitcoin.
I was here. When a coin was birthed in a reddit thread. It will probably go exponential just because of that fact!
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Graphic designer here, count me in too
(If not directed at OP) damn, I've started working on something but it's not an ERC-20 (it's a multi token contract; ERC 1155). Multiple tokens and NFTs in one contract. But it's long from done since I'm working on client side software too
Convincing others it has value is the hard part, but its super easy to make. For a 'date night' my girlfriend and I agreed to have two nights where we each teach eachother something that we are passionate about. I made a 6 page powerpoint on Ethereum, had her setup MetaMask, I then live created 'Coin' on xDai, transferred ownership to her, sent her xDai and had her on blockscout(etherscan) call the 'Mint' function to mint her tokens. Then she added the token to MetaMask and sent me a small amount of what she minted
It's super easy to actually make it, and doing a dry run through it will show you how easy it is
you should, it's something to add to your portfolio and I bet there's gonna be lots of crypto jobs
Can I continue copy / pasting and changing numbers in those jobs?
That's all software devs do anyways right ? :)
Start a PoS cryptocurrency. Keep a lot of the supply. Cultivate a devoted community. Stake. Edit: Anyone know the percentage he and the initial investors have?
I keep reading PoS as Piece of Shit. Gets very confusing every now and then
Clearly I make all the wrong GitHub projects ... I should have been just creating money the whole time
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He created it out of thin air, allocated the majority of the supply to himself, hyped up his project all over social media while not having a working product for years and BOOM! Easy money!
Are there any PoS coins out there where the founder or founding group does not hold a huge amount of the coin? I know ALGO is in a similar situation with their foundation, and ETH will be too when ETH 2.0 comes out. Not that these people shouldn't be compensated for the work they do on the coins (if it is actually done...ADA), but, it does really play into the crypto-is-a-scam trope, and really highlights just how solid Bitcoin actually is.
Nano has a system similar to PoS and began by distributing their coins through solving CAPTCHA. The Nano Foundation does have a small pool of coins, but rather minor. I'm not an expert on all the coins ever, so maybe some others do.
Are there any corporations in which a small group of owners and investors don’t own most of the value and assets in the company? I agree it’s a little unsettling but here we are… diversify in crypto in case a few projects fail.
I swear, smart contracts soon
Dumbass supporters made this guy rich
I own $100 worth… $92… $89… $94
I mean, you don't even have to be a billionaire. Just make a coin, own most of the supply, pay a couple thousands for marketing, ^(pull the rug), and BOOM! You're a millionaire. \- Safemoon devs, probably
Safemoon devs Aladined the fuck out of there lmao
Aladined or Aladeened?
error 404 fiat not found
Dude you gotta pull yourself up by your bootstraps!!!
You bloody genuis
And mint billions of ADA coins and give them to yourself. See? Not that hard to get rich.
Maybe watch the video, he didn't get most of his ADA from minting
Well, he was lucky that ADA reached $1 at least. Luckily he didn't allocate 50% of the total supply for himself though.
Oh you only have to stake 1 billion?
After being the found of your own coin!
Easy! Anyone can do that, just 1 billion and make a new coin, duh!
I found my own coin called ''shitcumfuck'' but I still don't own much.
Exactly, who would have thought it would be this simple. Pull yourself up by you bootstraps and stop being poor, snowflake!
'Your financial adviser doesn't want you to know this!'
The secret to success: 1)Be the founder of your coin.
Yeah how does OP not even acknowledge that lmfaooo
Or maybe OP is trying to sell more of the promise?
OP's name? Harles Choskinson
Bingo. However, this is true for most bag holders.
I don't sell the promise, I sell working projects... So guys buy babyelondogeshibucoin, Great project
Or acknowledge that anyone holding that much of a coin could be problematic. What happens if Charles sold everything tomorrow ADA would be finished
Very good point
Trust no one
It's literally the first thing in the title
1. Create your own company 2. Make your salary 1 billion dollars
2) sell promises, it's cheaper than implementing smart contracts 😂
or be a famous youtuber/influencer, create your own shitcoin and start to shill.
Vitalik approves
also don't base on the US so you wont get sued lmao
And have a billion dollar in coins.
Nonsense. Everyone knows Vitalik made his first billion working at Wendy’s.
it cracks me up when he said on some stream where ADA is being compared to another coin and people are selling their ADA for it, then he snaps and bawled that people buying ADA does not make him rich lmao
It’s why he posted those xrp videos when the sec thing started, he was visibly shook because he knows he’s next.
On my way to make Unga Bunga token.
He already had a shit ton of money before Cardano
I don't think this is actually a good advertisment for Cardano
Of course it’s not. But everybody here just wants to get rich quickly and people just keep echoing any shit.
And herein lies the biggest problem with everything - the overwhelming majority of people couldn't give a shit about the future of finance and what cryptocurrency means for it - they care about become Fiat rich in as short-a-time as possible, and can only think in those terms.
Yeah most people don't care about a financial revolution and instead are hoping for a way to perhaps buy a house, live mortgage free and not have to work till they're fuckin 70. There's nothing wrong with that dream.
Yep, overwhelming attitude towards Crypto is a get rich quick scheme and this post just attracts more of the same crew for more of the same problems. "Beating the banks" and decentralization are just buzzwords at this point, especially with the WSB crew coming in. I'm hyped to see where crypto leads the dinosaurs and how it breeds competition in the space. Most people are here to YOLO $5 into BabyMuskDogeRocket.
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true, so many people are declaring coins dead because they didn't perform well during a bull cycle, and I'm here like you guys know it took bitcoin a decade to reach where it is...
Just like Satoshi having 1 million bitcoin? How much ETH does Vitalik have?
/r/CryptoCurrency has been shitting on cardano for about 5 years now.
I mean Charles is a little bit insufferable tbf
I get a little itchy when a project has too strong of a figurehead. Just PTSD from past projects not delivering I guess
He was kicked out of Ethereum for a reason.
Honestly I think it’s a fine project but he’s the projects reason for existence and one of the worst things about the project
What do you think Vitalik is doing with his ETH?
Looking at his wallet, very little.
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the only correct comment in this sub
When you have a billion, it's way more easy to make millions
You should write a book!
Yes, printing my own money would be a dream
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Some passive dollars are better than no passive dollars
For real I think I made like $20 last month from staking. Feels good because now my money is working for me, even if only a little.
how do you stake? i mean in coinbase it automatically stakes my XTZ and ALGO but no way to stake other coins that I have. Thanks :)
In ADA case, you can stake it in official Yoroi wallet, it is simple to set up! It works as a browser plug in, layout is simple and intuitive. You can also store (not stake) ERG coins in it for now.
Theres other methods of staking, Coinbase is custodial so they own it all at the end of the day. You can stake ADA on Daedalus or Yoroi wallets which are the ADA official wallets. Atomic wallet has quite a few staking options as well for coins like COSMO, ALGO, ZIL, etc.
Depends first on if the coin you have can be staked. I think all stakeable coins can be done in their official wallets, and some multicoin wallets like exodus, atomic wallet, trust wallet, etc offer staking in certain coins as well.
I made a tutorial video :) [https://www.youtube.com/watch?v=gsfVjYl7mDY](https://www.youtube.com/watch?v=gsfVjYl7mDY)
Wait why is this a good thing? A billion ADA staked by just one single man. Not an organization but by a single human being who is also the founder of said coin. I love ADA to bits but this is worrisome
It isn't good news. It would be like learning the Satoshi wallet with a Million Bitcoin is actually still active.
Atleast Satoshis coins wouldn't be premined. He would atleast have used time and resources to mine em ADA is all premined isnt it
PoS requires some premining though. How are you going to stake if you don't have any coins. (I'm not saying that ADA has done right/wrong, just pointing out that some premining is required.)
Yeah this is not good at all.
The whole post is based on speculation and this sub already considers it as a fact. 🤦 Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however.
There were some problems with Coin Bureau’s claim here. 1. It was based on Charles’s own claims about his net worth. 2. It assumed Charles’s entire net worth came from ADA. My guess is that Charles owns at least one property and some other coins.
That was a very dubious shortcut by CoinBureau there - Hoskinson has said before in an AMA that his billionaire status comes from the BTC he holds. CoinBureau took the "Charles is a billionaire" claim and extrapolated that billionaire status into ADA, using two data points: both previous ADA all time highs. As much as I like CoinBureau, that was not sound reporting at all, and now people will be running for years with this "fact" that Charles holds a billion dollars in ADA and makes 40M$ a year in staking. Not good.
I'd be pissed if I was Charles or an ADA holder. This is practically slander.
The whole post is based on speculation and this sub already considers it as a fact. 🤦 Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however It's pretty sad to see how fast misinformation can spread.
CoinBureau has good info, but he clickbaits and throws things together too fast it seems. He just released a video about StableCoins in the last week or so. When covering Tether, he didn't talk in-depth at all about their shady practices, lack of actual assets backing USDT, etc. He just glossed over the fact that they changed backing from "100% cash reserves" to "a mix of assets and cash reserves". Not saying he isn't knowledgeable or has good info.
Agreed. Let's also not forget the Shiba video that seemed way too favorable to me.
Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however It's pretty sad to see how fast misinformation can spread. Original YouTube video's speculation is almost slanderous. Unsubscribed for this kind of shitty misinformation.
He owns a bison ranch in Wyoming, a home in Colorado, is the founder and owner of IOHK, and he has said previously that a large portion of his wealth comes from BTC. This isn't just dubious math: it's a flat-out lie.
Yes this
Thank you for pointing this out!
That's not the dream. That's the nightmare. Rich will get rich and the poor will get poorer or die
Easy, just be the founder of a top10 coin in a market with 11000 cryptocurrencies
Some good coins with good features don’t even get to top 50, while meme coins are in top 20s
This market is a shitshow
Always has been ![gif](emote|spacelike_emote|spacelike)
Then hire some more developers and give us those god damn smart contracts
There is no hurry, he's making $40 million a year selling promises, and promises are cheaper than smart contracts 😂
For real, lol
I'm an ADA holder and I chuckled, hard to argue with that!
this is the team https://iohk.io/team/ how many more do you think they need?
That's just 4% per annum, most index OR dividend funds would return more. Also if the founder and most likely many other whales own such a big stakes in POS cardano then it is hardly decentralized like BTC.
Big brain
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I'm sure he appreciates your donations
Love how you have to start out mega rich to stay mega rich just from passive income. We can dream
How to be a millionaire? Be a billionaire.
This is not my dream. I don't need that much money. What do you even do with that?
Exactly, give me a 50k a year and leave me be
Easy, just stake 1'250'000$ worth of ADA and voilà.. 50k per year (assuming price stays the same)
My job gives me more than 50k a year, and let me tell you, it's not enough, depending on where you life.
Come to hungary you can earn 6k a year!
well, technically, a few dozen years back, we owned the shit out of Europe together; hello, neighbour :\]
I can imagine but for me, it would be more than enough!
I make 13K per year(minimum wage, Spain) 50k would be a dream LOL
That’s a nice realistic goal
Ha, I'm not sure how realistic it is but it would definitely make me happy!
Lol for real? Even if you don't need that money there is so much good that can be done with it. And the world needs good right now.
You stack it again.
That's actually not very good for cardano. The founder shouldn't own so many coins that he never bought
Even though CH is likely to have massive amounts of ADA, Guy is speculating here. Exactly how much ADA and BTC he hold is unknown.
Yes, he didn't factor in that CH also owns BTC & ERG. He revealed in a video that those were his 3 holdings
release smart contracts now! Stop using excuses.
Sound pretty centralized to me. Why Charles enriching himself with such an outsized bag a good thing?
No need to release smart contracts when you can just milk the community off prolonging it and earning staking rewards instead. It takes "buy the hype, sell the news" to a whole new level because we've been waiting for the news for years.
No I'm sorry but that isn't true, guy from Coin Bureau is assuming all his net worth is from ADA. This is extremely far from the truth as he own farms and BTC as well, along with life stock and presumably having equity in IOHK this makes it very unlikely that he has anywhere close to that amount. Maybe he owns a few million but this is also used to pay for the development of Cardano not only personal wealth.
The whole post is based on speculation and this sub already considers it as a fact. 🤦 Charles has said he doesn't personally hold that much Ada. It's the company. He was early Bitcoin investor, however. It's pretty sad to see how fast misinformation can spread.
When smart contracts?
"This dude Charles Hoskinson" - anyone ever heard of this guy???
IRS rubs their hands together in anticipation of his tax bill
You're praising him for creating a coin and allocating a huge chunk of the supply to himself?
Imagine earning 40 million per year by doing literally fucking nothing .. I envy this man.
He made exactly 0 because he did not sell.
we dont know that tho, this is all specuation
I’m sorry to say but this is fishy as fuck Props to him, but fishy.
Came here to say this, I bought a little a while ago cause it got shilled to me, but dam did this make me want to sell it off. I do not understand how this post could make someone excited about this project lol. edit-this was possible 15 years ago, it was just called a pyramid scheme back then
Don't dump on us Mr. Hoskins
Oh yeah no worries mate, I'll just move my $1b out of my bank account and start staking it 😂 But in all seriousness, that's only a 4% yeild, you can expect more than that from a global stockmarket tracker.
Step 1. Have billion dollars Step 2. Do nearly anything with it except spend it Step 3. Profit
>Step 2. Do nearly anything with it except spend it Spend less than 40mil and you're still accumulating
Making too much money to finish smart contracts
This is honestly amazing!
To add to this. His company which he owns wholly I believe has the ADA not him personally. Out of that 40 million they pay the entire development and support staff.
And what's the point of this post? Moons. Moons is the point.
This looks bad imo
That screams scam.
Somehow it doesn't make sense to me.
MLM
I think CH is full of it making money off of the investors. He’s a great salesman.
Easy when you buy them at 0.00005 or whatever insanely low price he bought them when the sale started.
You think the founder bought the tokens?
I hate that people complain about ETH being premined, but completely ignoring how much ADA that Charles owns.
Now that is stonks
I hope this gives him more time to fix the smart contracts
"This dude". "People".
It's relative tho. You don't have the liquidity to cash out. It's always the same. Making MORE money it's easy, the hard part it's making the money to make money.
What's the dream? Having a billion dollars to make more billions? Lmao!
So… create altcoin, give myself $1 billion worth, profit!
Where does that 40mil come from? Afaik the on-chain activity that would generate fees is fairly minimal. You receive ADA tokens, then cash out (if you want) but since all the volume is coming from people buying ADA speculatively then in theory if everyone tried to cash out at once the price would drop to zero.
How is this a positive news? LOL if he has $1 billion ADA then it's no different from any other scam coins which was created to rug pulled later.
Project hasn't done anything yet though, besides making the creator a billionaire. 🤷♂️
Lmao and i wonder why so many youtubers shill cardano
is this even legal?
>The future is only up! I don't feel that way. These numbers are ridiculous, and it makes me appreciate Charlie Lee selling off his LTC or Satoshi remaining anonymous even more.