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This tweet from Charlie Lee has surprised me:

https://twitter.com/SatoshiLite/status/997978007875670016

He was millionaire before Bitcoin? Surprising. Anyone knows what he was doing before?

I think he worked at google right?

That would make for it yeah. Also probably he is older than he looks like (in fact in recent pictures he does).

If you read that twitter stream, to this day Charlie doesn't consider Litecoin a scam.

But often we need to reconsider what the definition of a scam truly is.

I mean, to make Litecoin he literally took a snapshot of the Bitcoin source code, changed like 2 easily-found config parameters, and launched it. And he admitted that it took him all of like a long Saturday to change and test it. He put almost zero effort into creating Litecoin. He created an altcoin of Bitcoin with a few clicks of a mouse. What he did, anyone could literally do with enough knowledge of the code.

So what part about that process and goal isn't scammy? Today when people do that with the Bitcoin source, we say that they're doing it for scammy or selfish purposes. But for some reason we give Charlie a pass because he's a nice guy, Bitcoin proponent, and no longer holds any LTC. (Little known fact: he once DID hold a metric shitload of LTC and probably made a million dollars selling some before LTC even hit $0.20c)

Changing the algorithm from SHA256d to SCRYPT was a little more involved than changing a couple of parameters. But yes, something like this could definitely be done in 24 hours.

The creation of Litecoin stems from the emerging of more and more scamcoins like GeistGeld, ixcoin, Tenebix, Solidcoin....
To counteract Tenebixes 7.7 million premine Faircoin was launched. Basically a 100% copy minus the premine, done in an instand. It was a rushed job just to deal with it. From then with a proper announcement and a little bit more work and thought Litecoin emerged. The prelaunch thread had 5000 views and a vote for best launch time (4 options).

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Quote from: molecular on August 17, 2011, 06:55:42 AM
The Egg of Columbus comes to mind. That's why nobody else did it and people that saw it early had all kinds of objections... "An egg of Columbus or Columbus's egg refers to a brilliant idea or discovery that seems simple or easy after the fact." A million bitcoins is the least he deserves. His "invention" is worth more than that if in the end, we have free money.

+1

I totally agree. I hope he becomes the richest man on earth. What Satoshi was able to come up with on his own was truly remarkable.

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I actually believe what Satoshi came up with IS brilliant. And that's why I think he may not be one person. It takes someone who is great at math, economics, and computer science to come up with this. And his solution is also very thorough. I'm really surprised to see such a complete solution in a version 1 product. Know what I mean? When someone comes up with something this novel, normally, the first attempt will crash and burn. So I give Satoshi a lot of credit. He deserves every single bitcoin he owns.