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Litecoin Raises Money For Charity

By Sharon Rowe
In Litecoin
Feb 28th, 2014
0 Comments
972 Views

With so much negativity in the news regarding the cryptocurrency markets, it reaches the hearts of others when the news from this diverse market helps and raises funds for a charity. As with all charity raising events in the cryptocurrency markets, the communities didn’t let the charity drive down. It is heart-warming to see a community that can come together to help others. No matter the problems that are being faced in the cryptocurrency markets, with the troubles that are faced by the Bitcoin exchange having the potential to lose millions of dollars, the ability to raise money for charity has found a way through.

In reality, the coin target was relatively low and this helped to spur the individuals to raise the money needed. The target was set for 100 Litecoins, with a total value around the $1500 US dollar mark. This was surpassed when Charlie Lee donated 50 of the coins himself to the cause.

For those that are unfamiliar with the names in this market, Charlie Lee, he was one of the original team that helped to create the Litecoin currency. This shows not only his generosity but also his compassion in helping others.

The money raised in Litecoin

The money is being raised for an orphanage in Vietnam. These children need the support and the care from others around the world; many have illnesses, disabilities and birth defects. The orphanage is looking to help the children who are still being affected by the Agent Orange, a chemical that was used in the Vietnamese war by America. In essence they have polluted the country and even after many years the effect of this chemical is still evident, in the children and the lives of others who are forced to use the land that was damaged and contaminated many years prior.

This chemical was used in farming prior to the war, but was discovered to have health implications and was banned. This prompted experiments in the chemical warfare and the Agent Orange was born. The aim was to kill off vegetation so the people fighting could be seen, farmers would leave the land and those that were fighting for Vietnam would be exposed and left hungry. The aim: for America to win this war, the result; a polluted country that is still, many years down the line, witnessing disabilities and birth defects caused by this chemical.

Many people who would consider the amount of money raised for the orphanage was low, but money can go a lot further in poor countries. No matter the amount raised, it will be put to great use to help these children have better lives.

Odd consideration

Since early on in February, Vietnam made a bold statement that the use and the trade of the cryptocurrencies was banned. This means that any trade in these currencies in Vietnam is illegal.

Yet, the youth of the country are fed up with the high prices that are commonly associated with the Vietnamese banks. This has led them to the alternative, something that isn’t controlled by the government and politics. The system is easy to use and the costs for transactions are a fraction of what the banking institutes around the world are charging.

But, if these youths are caught in the use of these currencies, they face the possibility of prosecution.

Cryptocurrency community

This isn’t the first time in recent months that the cryptocurrency community has come to the aid of a charity appeal. The Dogecoin has helped two teams in the last few months raise money so they could attend the winter Olympics in Russia.

The ability to connect with people that are showing so many acts of kindness around the world, demonstrates that generosity is not lost in the cryptocurrency markets.

These like-minded people are there to help others in need; it is not about the money that they can make with the currency, it is about building a community of people from around the world, who believe in the benefits that the currency gives others. A currency that is not trapped by walls, and government bureaucratic red tape, that prevents the free choice of these people who want to use a currency that is cheaper and simpler to use.

However difficult, life can sometimes seem, it is important if people around the world need help they need a place to which they can turn. If the community of the cryptocurrency can help raise money for different causes, then they should be proud of the community that they are creating.

 

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