1 year ago
Executive president of Microstrategy, Michael Saylor, does not similar to beryllium called out. He responded to a canvass shared by Eric Wall, a crypto researcher, that suggested helium had not utilized Bitcoin’s (BTC) layer-2 Lightning Network much than 3 times with a Twitter canvass of his own.
The close reply is Yes, and I volition marque 3 much transactions of 1,000,000 sats each to the 3 posters of the astir liked #Lightning⚡️ memes successful the comments below. https://t.co/qXZ90q4Ly9
— Michael Saylor⚡️ (@saylor) October 4, 2022Saylor replied to the canvass with a resounding yes, and kickstarted a meme contention with a 1,000,000 sats giveaway (0.01 Bitcoin, $200) to the astir liked meme. In giving distant Sats to prizewinners, Saylor volition virtually usage the Lightning Network 3 times.
Saylor archetypal tweeted about the Lightning Network successful May 2021, and has since go a proponent for the layer-2 payments solution built connected Bitcoin, arsenic good arsenic LiFi, oregon Lightning Finance. Wall, a erstwhile main concern serviceman astatine Arcane Research, has called retired Saylor respective times, and his archetypal optimism astir the Lightning Network successful 2018 has dissolved into critiques.
Other salient Bifluencers, including Udi Wertheimer and Lilli, caput of concern improvement astatine Foundation Devices, regularly sound the LN. Lilli precocious called the web a “failure,” and Udi said, “Nobody uses it.”
The canvass arsenic good arsenic caller commentary from Wall bring into absorption a bigger issue. Is the Lightning Network a fringe solution to Bitcoin's scalability occupation that adjacent the biggest names successful the Bitcoin abstraction conflict to use? Or, is the Lightning Network — pursuing 8 years of improvement — a failure?
Related: Busking connected Bitcoin: How Lightning Network outperforms Ethereum for tipping
Wall shared a bid of videos highlighting difficulties successful transferring funds implicit the LN from aged Bitcoin wallets to a caller phone. He besides predicted that Bitcoin capableness connected the LN volition not transcend 6,000 Bitcoin earlier 2023. Bitcoin web capableness surged done 4,000 BTC successful June and 5,000 BTC successful October. With 2 months to spell until year-end, Wall tweeted it’s “gonna beryllium a nail-biter.”
Perhaps large companies entering the abstraction volition bolster LN usage and amended sentiment. Saylor is doubling down again connected his Bitcoin strategy, arsenic Microstrategy is hiring Lightning developers. Furthermore, NYDIG, a starring Bitcoin company, announced successful their Q3 study that “Now it’s clip for Lightning,” stating their volition to lend to the LN.
For smaller, Bitcoin-first companies, deals are struck and announcements are made connected a play basis. Strike precocious led a palmy $80 cardinal backing circular portion Galoy, the squad down El Salvador’s Bitcoin Beach wallet, has implemented dollars onto the LN — a boon for emerging markets. In Gibraltar, a highly blase fiscal market, Lightning Network adoption is thriving.
Finally, successful a caller sheet treatment moderated by Cointelegraph successful France, salient Lightning Developers including “Dr. Bitcoin” himself, Christian Decker, arsenic good arsenic information scientist, Rene Pickhard mulled implicit whether transaction nonaccomplishment connected the LN is acceptable successful 2022.
— Joe Hall ⚡️ defendingbtc.com (@JoeNakamoto) October 5, 2022The overwhelming sentiment from the sheet that time is that the LN is inactive a enactment successful progress. It’s neither a resounding occurrence arsenic it’s inactive early. For Nicolas Burtey, CEO astatine Galoy, the radical down the Adopting Bitcoin, a Lightning Summit successful El Salvador, “The adoption of Bitcoin successful El Salvador was the tipping constituent for Lightning.” The El Salvador Bitcoin Law hit its twelvemonth day conscionable 1 period ago.
In the meantime, determination are present hundreds of memes successful reply to Saylor's tweet.
Cointelegraph reached retired to Eric Wall, who declined to comment. Cointelegraph volition update the nonfiction if Saylor, Wertheimer oregon Lilli stock commentary.
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