A recent video showcases two crypto giants, Roger Ver and Charlie Lee debating the viability of the Lightning Network. The video was shot on the blockchain cruise last month but wasn’t posted until last week. In the video, the two discuss use scenarios, functionality, and the future of the second-layer protocol.
The video features several probing questions directed at Litecoin’s founder Charlie Lee by longtime Bitcoin Cash supporter Roger Ver. One of the earliest questions fired at Charlie regarded the feasibility of using Bitcoin to make small purchases such as buying a cup of coffee.
The Lighting Network enables Bitcoin users to utilize micro-transactions in near instant time. While the concept is amazing, many in the crypto space have expressed concerns over if Bitcoin users will let go of their precious Bitcoin to make such a miniscule purchase. Roger implied that the expensive price of Bitcoin makes it an odd choice for use when dealing with small-value transactions.
Roger has long touted Bitcoin Cash as Satoshi’s true vision for Bitcoin. Lower costs and instant payments are built directly into the protocol. Charlie responds to the question by noting that the Lightning Network enables Bitcoin to better scale to second layer solutions such as, say, buying a cup of coffee. He also explained that crypto users aren’t hostile towards using the Lightning Network to accomplish these small tasks.
Is the Lightning Network Peer-to-Peer
As the debate heated up, Roger asked Charlie about the Lightning Network’s claim of being a Peer-to-Peer solution for Bitcoinists. Roger argues that because Lightning Network users must connect to Lightning nodes before making payments, that the network isn’t keeping true to the original vision of Bitcoin as a “Peer-to-Peer electronic cash system.”
In response, Charlie explained that the Lightning Network is even more Peer-to-Peer than Bitcoin’s blockchain. He stated that when people make a payment on the Bitcoin blockchain, they are, in essence, not connecting directly with the other individual involved in the transaction to make the payment, but in reality, they are broadcasting the payment across the entire blockchain. Bitcoin payments are direct, but unlike Lightning Network off-chain payments, they are hardly Peer-to-Peer according to the crypto specialist.
Lightning Network Censorship
Another note-worthy exchange occurred when Roger debated with Charlie over censorship within the Lightning Network. As an example, Roger cited the fact that someone had opened a Lightning Network channel named “Roger Ver” and nobody chose to connect to the payment portal.
Again, Charlie interceded to explain that the individual had “censored himself” by choosing to name his payment channel after Roger. The channel wasn’t blocked, or even hindered in its operation by the network. Both the traditional Bitcoin blockchain and the Lightning Network don’t practice censorship of payments.
A Friendly Wager
The video concluded with a friendly wager between the two crypto stars. Roger told Charlie that he would have to wear a Bitcoin cash t-shirt if the Lighting Network doesn’t achieve 1000 merchants by next year. Ironically, Roger already lost the bet when Coingate added Lightning Network support to their 4000 plus merchants.
What do you guys think? Will Roger post a video in the coming days with a Lightning Network t-shirt? Let us know in the comments below.