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Litecoin's Charlie Lee to Double Every Donation on MimbleWimble Implementation

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  • Vladislav Sopov
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    The love story between MimbleWimble and Litecoin will be a long and productive one. Now everyone can participate in the funding initiative with Charlee Lee!

Litecoin's Charlie Lee to Double Every Donation on MimbleWimble Implementation
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Contents

Shortly after Lead Developer of the Grin blockchain and MimbleWimble (MW) protocol David Burkett disclosed the status of MW's implementation onto the Litecoin (LTC) network, Communication Manager Ilir Gashi of the LTC Foundation announced a fundraising initiative to support Mr. Burkett's work.

Every Litecoin Helps, Every Litecoin Matters

While announcing the progress, Mr. Burkett mentioned that there are some funding issues. Mr. Burkett says that he is extremely excited about the fact that the LTC Foundation had "graciously decided" to fund his efforts at implementing the MW extension block, as well as continuing the work on Grin++.

Shortly after the developmental update, the Litecoin Foundation officially announced the launch of the Litecoin Confidential Transactions - a dedication fund. All of the money collected within the framework will be spent towards sponsoring David Burkett and his implementation of the Extension Block and the MimbleWimble code for Litecoin. According to Ilir Gashi:

The plan is for David to work 30 hours a week. This will be split into 15 hours for Grin++ and 15 hours for MimbleWimble via Extension Blocks. We believe that this will be a mutually beneficial arrangement because Grin++ code will eventually be forked onto Litecoin’s Extension Block. Therefore any development in Grin++ will be immediately beneficial to Litecoin.

In short, everyone can donate his/her BTC and LTC for privacy improvement on the Litecoin network. The goal of this proposal is to raise $6,000 per month for 12 months, or a total of $72,000. 

Charlie Lee to Bootstrap the Crowdfunding

During the first hours of the campaign, numerous members of the LTC community made donations. At the moment of writing this article, more than $5,800 has been raised. Therefore, Mr. Burkett shouldn't worry about compensation for at least the first 29 days of his work.  

Yesterday, Litecoin Foundation's Managing Director Charlie Lee said that he personally endorses this initiative. Mr. Lee also said that he will redouble every donation:

111.07 LTC and 0.00284 BTC have already been donated! (~$5133) We are almost 1/10 of the way to the goal.

I am going to do a donation match towards this donation drive. At the end of every month, for every LTC/BTC donated, I will match the same amount.💥https://t.co/UTh6UWJG5e https://t.co/M968Z8VtEZ

— Charlie Lee [LTC⚡] (@SatoshiLite) December 3, 2019

Charlie Lee Will Redouble Every Donation For MW Implementation
Image by: https://twitter.com/SatoshiLite/status/1201711001336303617

This act of generosity will repeat on a monthly basis. This shows one more time the passion and dedication of LTC governance to the idea of MimbleWimble implementations.

Has your work ever be crowd-sourced? Tell us your story on Twitter!

 

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Bitcoin Price Likely to Surge to $8,200 Before Surprising Bulls: Crypto Analyst

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  • Yuri Molchan
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    A crypto analyst says that Bitcoin follows ‘standard crypto games’ and expects BTC price to surge to $8,200 before making a market reverse

Bitcoin Price Likely to Surge to $8,200 Before Surprising Bulls: Crypto Analyst
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

After Bitcoin bulls reclaimed the $7,400 level earlier, the flagship currency is holding in the $7,500 area. A crypto analyst says that these are ‘standard crypto games’ – Bitcoin is likely to surge into the $8,000 area before plunging again.

Bulls, get ready to rock - $8,200 on the horizon

At press-time, Bitcoin is swapping hands at $7,544. For a long while prior to that the price was trading flat in the $7,200-$7,300 area.

However, on Friday, the Bitcoin price managed to recover to the $7,500 level.

BTC price CMC
Image via CoinMarketCap

The analyst @CryptoMichNL reckons that Bitcoin is following a standard pattern of the volatile crypto market and is going to please the bulls before giving them a nasty surprise of a bearish reversal.

‘Bitcoin halving is the main catalyst’

The next Bitcoin halving programmed by Satoshi Nakamoto, the Great and Terrible, is to happen in May 2020. Many in the community believe it to accelerate the Bitcoin price surge since miners have not priced it in.

👉MUST READ

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Doubts about the BTC halving impact

However, a co-founder of the Morgan Creek Digital Jason Williams, the less Twitter-active than his colleague Anthony Pompliano, reckons that the Bitcoin price is likely to dip after the halving. The thing is that miners are going to get twice as fewer BTC for each new block than now and many of them are going to have to sell their BTC to pay the bills.

Besides, chances are high that small mining pools will quit since mining will stop giving them enough profit.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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