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
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.
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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.
