🔥 BitDegree partnered with Ogvio - a free international money transfer service! Join the waitlist & grab Rewards! 🎁

Poll Stirs Bitcoin Clash: 80% Say Lightning Network Is Not “Real” BTC

Key Takeaways

  • ​Over 80% of poll participants on X said Lightning Network does not represent “real” Bitcoin;
  • Critics like Paul Sztorc argue Lightning fails to deliver and depends on large providers;
  • Supporters, including Alex Gladstein and Matt Corallo, say Lightning drives small BTC payments.

Stop overpaying - start transferring money with Ogvio. Join the waitlist & grab early Rewards NOW! 🎁

Poll Stirs Bitcoin Clash: 80% Say Lightning Network Is Not “Real” BTC

A recent poll on X has reignited debate about the Lightning Network’s role in the Bitcoin community.

More than 80% of respondents said they do not see the Lightning Network as "real" Bitcoin BTC $104,681.19 .

The Lightning Network was created to make Bitcoin transactions faster and cheaper. People can send small amounts of Bitcoin with very low fees, often just a fraction of a cent.

What is SushiSwap? DEX & Sushi Token Animated Explainer

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

This is different from on-chain transactions, which can become costly, especially for smaller payments.

In a post on X, Paul Sztorc argued that the Lightning Network has not lived up to its promise. He said:

Lightning seems cool at first, but after year six, you realize it doesn’t work.

He pointed to ongoing challenges, including the need for nodes to stay connected to the internet and the reliance on large liquidity providers and watchtowers for security.

Sztorc also described the Lightning Network community as a "cult" and claimed the system is effectively custodial.

Alex Gladstein responded by calling Sztorc’s comments "truly amazing" and reaffirmed his belief that the Lightning Network allows Bitcoin to function as digital cash.

Developer Matt Corallo noted that the network processes a large number of small payments. He estimated that "well into double-digit percent of BTC transactions are now Lightning", and described those dismissing its progress as "disconnected from reality".

Bitfinex recently reported that Bitcoin may not experience its usual November rise this year. Why? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Loading...
binance
×
Verified

GET EARLY REWARDS

Join Ogvio Waitlist
Rating
5.0