Also, with respect to this being like a CEO taking a $1 salary. Most CEOs have massive stock and performance incentives linked with their company's success. Charlie has none.
I know the financial ties and importance of that developer's personal use of their product is very different from LTC and it's Charlie's situation, but will 100% of people really not believe he wanted to focus where he wanted and also remove certain aspects of criticism? Is it possible that he both knew that criticism would come either way and less criticism would come from the choice to sell his LTCs away considering he knows, himself, that he will have more time and energy to improve LTC since he knows he's being honest (I assume of course)?
He wants LTC to serve as digital cash and change how everyone pays everyone. You can believe that without believing that LTC will increase in value.
It’s a bit different than stock as stock is equity in a firm. As a currency, you don’t want volatility and increases in value. You want stability and durability.
If LTC gains widespread adoption and utility, the total value of all LTC in circulation will unavoidably have to increase; in essence, the total circulation value (supply * velocity * value) of a currency has to match, by definition, the total value of goods and services traded in that currency. Since LTC supply is limited by technical means and can't/won't be increased (like USD), this inevitably will mean a significant value increase of each LTC.
Cryptocurrencies are (supposed to be) decentralized so having a large stake/hash power/etc. probably goes against that philosophy.
He might be saying this but thinking: "great, now is the best time to cash this thing out and let it burn". Well played and probably more is coming.
Price rallied from $3 to $360 within 8 months and only once in 4 years went over $30 he could easily have 20k+ LTCs that's a nice payout :)
His side project / startup just went public now he does not have to worry about money anymore and can do whatever he wants. Thats the best goal you can achieve in modern society "breaking the wheel".
If Satoshi's coins move, all of a sudden, it will be a big downer for Bitcoin, this is no different. Instead it may have helped had he declared something like he won't sell it for next n years. That would have shown real skin in the game.
Please note I'm not doubting his intentions. But saying just what it seems like from the outside.
That’s because their company’s product is something other than “company shares”, save for a few public companies around the first dot-com boom and some fine businesses traded over-the-counter.
Since CEOs are usually in charge of championing their product, and since in cryptocurrency case the product is the instrument of ownership, the gray line between honestly championing one’s product and peddling securities that are potentially worthless does create a conflict of interest.