How Litecoin went up after fake rebranding to Bitcoin Lite

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Aprils Fools was almost over, but there was still a joke in store in the crypto space. Litecoin creator Charlie Lee made a fake announcement via Twitter claiming that Litecoin would be rebranded to BitcoinLite, “as Satoshi Nakamoto intended.”

Lee posted a version of Bitcoin’s whitepaper highlighting the letters LITE and a link to Litecoin Foundation’s official website renamed BitcoinLite Foundation. The home page reads “Just Like Bitcoin. But ‘Lite’er!”, adding that Bitcoinlite is “4 times more scalable than Bitcoin” with higher transaction fees and a supply of only 84 million coins. It even offered users a BitcoinLite Wallet. The website contained the following message:

After several hard-fought, intense back and forth discussions within the Litecoin community, it was decided that Litecoin will undergo a rejuvenating marketing campaign — Litecoin will be rebranding itself to “BitcoinLite”.

The reason behind the rebranding was a supposed opportunity to capture new investors “confused” by the different forks of BTC (Bitcoin Cash, Bitcoin SV, Bitcoin Gold). These investors think that each of these versions is the “real BTC”. Therefore the “Bitcoinlite Foundation” could gain new followers that “we’d previously been missing”.

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The page outlines a fake roadmap that begins with the “takeover” of the Bitcoin domain and changing the information related to this cryptocurrency to BitcoinLite…

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