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The Lightning Torch Ends in Donation to Bitcoin Venezuela




Lightning Torch Ends in Donation to Bitcoin Venezuela

The Lightning Torch concept showcased the human side of the cryptomarket. This digital torch managed to visit some of the biggest names in the tech world. Now, the Lightning Torch's epic journey has reached its final destination – Venezuela.

As previously reported, the Lightning Torch concept originated with longtime Bitcoin enthusiast Hodlonaut. The theory was simple. Utilize the Lightning Network's microtransaction capabilities to showcase just how easy and cost-effective it is to send Bitcoin via the second-layer protocol.

Using the Lapp, Hodlonaut first lit the figurative torch and started the epic journey around the globe. Those deemed worthy recipients of the torch added 10,000 Satoshis to the total amount before passing the torch on. In total, the Lightning Torch raised 0.41 BTC. Impressively, the torch saw 292 passes in total. Not surprisingly, the torch ran into difficulty a few times. The first problems arose at around 20 hops.

Lightning Torch Art

Lightning Torch Art

Not Everyone is Honest

The User SirLordBTC decided to keep the figurative torch. At that time the value was under ten dollars. Luckily, the person who sent the torch to SirLordBTC replaced the lost crypto artifact. He refilled the 250,000 Satoshis and sent the newly filled torch to a more trustworthy source.

Another user, Eduard, decided to seize the torch once again at 2.51 million Satoshis. In a Tweet, Eduard defended his decision. He claimed he seized the torch because “I can and no one can stop me. This is Bitcoin.” While he proved his point, the outcry from the crypto community was swift and after taking a barrage of Tweets, Eduard decided to send the torch back to Klaus Lovegreen.

Crypto Stars

Aside from those two issues, the Lightning Torch had an incredible journey. The concept saw the torch reach industry heavyweights such as Jack Dorsey, Charlie Shrem, Justin Sun, Elizabeth Stark, and WhalePanda, just to name a few. The entire journey is captured in Meme format by Takethetorch.

The Lightning Network Community

Additionally, the concept demonstrated the close-knit and trustworthy community currently developing the Lightning Network. Even when the torch reached individuals with less than honest intentions, the community stood together to prove the concept was possible.

Bitcoin Global

The Lightning Torch concept was successful for more than one reason. The project reached multiple Bitcoinists living in locations under sanctions. Iranian Bitcoinist, Ziya Sadr, took the torch and proudly proclaimed the cryptocurrency to be a “safe-haven.”

Iran, along with a myriad of other countries, faces crushing US sanctions. As Bitcoin is censorship proof, it was controversial, yet essential, that the torch reached those heavily sanctioned regions. As expected, the Lightning Torch breezed in and out of sanctioned areas with no effects.

Not Everyone Was Happy

While the Lightning Torch concept proved the Lightning Network's overall usability, it did run into some disdain. Regular users began to lament the fact that the torch started to go to an exclusive class of cryptocurrency users. Not to be left out, a group of average crypto investors began the TinyTorch project.

Pass the Light

The Lightning Torch proved that the Lightning Network's user experience improved significantly since the early days of development. Also, it showed how Bitcoin can provide help for those caught in political circumstances beyond their control. Today, the torch rests in Venezuela, where it will help feed people in need.