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He added: "I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of litecoin and cryptocurrency in general."
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Charlie Lee announced in a Reddit post on Wednesday that he had "sold and donated" all of his litecoin holdings over recent days. He said the move was motivated by criticism from people that he was trying to influence the price of litecoin with his tweets.
Lee, a former Google and Coinbase employee, created litecoin in 2011 as a quicker and cheaper alternative to bitcoin. As of Wednesday morning, it is the fifth largest cryptocurrency with a market capitalization of over $17 billion, according to CoinMarketCap.com.
The subreddit has 350,000 members and is dedicated entirely to Ripple related topics. The design is not flashy, but it evokes professionalism and seriousness. Its members are knowledgeable and dedicated to maintaining positivity.
Various factors can be used to monitor usage of a subreddit. Due to the promising trading strategy generated from the factors chosen in [7], these same factors will be examined here. Posts per day indicates the number of posts made on a particular subreddit, per day. (this factor does not include comments made in response to particular posts). Subscriber growth indicates the number of new subscribers that a subreddit receives, per day. New authors indicates the number of new authors posting on a particular subreddit, per day. This current work will aim to confirm the relationship the factors identified have with price in a model-free environment, rather than with the use of a trading strategy which can potentially introduce ambiguity relating to individual factor contributions.
Posts per day and new authors can be retrieved from each subreddit programmatically; each post is timestamped, so historical time series can be generated by iterating through the posts. Posts per day are used here rather than comments per day. Each post on Reddit can have a number of associated comments in a one-to-many type relationship. However, examples exist where huge numbers of comments are generated that are unrelated to market activity; for example, sometimes people give away small amounts of cryptocurrency to everyone who comments with their public blockchain wallet address; this causes a huge spike in comments (wavelet coherence between comments per day and price were also generated, but as was expected showed less significant relationships than posts per day and price). 041b061a72