Too good to be true...

Charlie Lee, founder of Litecoin, bemoaned the failure of Litepay this morning on Twitter. Like many others, Charlie Lee was excited and was sucked into the optimism surrounding the launch of Litepay - a crypto-to-merchant solution that failed.

It was announced earlier today that Litepay will not continue in development and that, in essence, it's over for the technology, as the company is shutting its doors and moving on.

To be clear, Litecoin and Litepay are entirely separate entities, but the Litecoin community obviously had a vested interest in the success of Litepay, so it is a disappointing day for any Litecoin supporter. Having said that, the writing was on the wall for Litepay since the failure to launch the retail component of their technology weeks ago. The launch was cancelled - literally at the last moment - much to the chagrin of a thoroughly FOMO'ed Litecoin crowd, blaming regulatory powers preventing its successful launch.

Failures of start-ups are commonplace in business, and nowhere more so than in the realm of cryptocurrency. Litecoin will likely take a temporary hit from the negative news, but this should offer a strong buy opportunity once the dust settles. It's only a matter of time for Litecoin to recover in the coming months, as it is still one of the most trusted and accepted cryptocurrencies in the market.

*This is not professional trading advice - it's just my opinion!

If you're interested in trading cryptocurrencies, check out Binance by using the link in my profile @xsid and sign up today!

image source:

https://animals.howstuffworks.com/extinct-animals/dodo-birds-maybe-not-complete-dummies-all.htm