The world has been curious about the industry of online economics in recent years and in the world of cryptocurrency, a big exchange has occurred, and it only took 150 seconds.
Some wealthy entity has transferred $99 million in Litecoin in a single transaction last Thursday taking less than three minutes and only costing a mere 40 cents. The transaction attracted the attention of users on reddit, even someone noticing that a ‘test’ transaction was sent the day before.
In traditional finance, transferring such a large amount of money between two people would take a number of days, as well as cost huge transaction costs.
Litecoin is closely related to Bitcoin, and is a from of cryptocurrency. On the current market, 1 LTC is worth $150 USD and if you do the maths this particular person had 660,000 LTC in their possession. You would hope that they transferred it to the correct address.
At this time, the person responsible for the transfer has not been identified.