The eternal debate about the true Bitcoin that realizes Satoshi’s Nakamato’s vision is an everlasting favorite in the crypto scene. The founder of Litecoin tried to explain why Bitcoin, including the Lightning network, comes closest to this vision.
Charlie Lee, founder of Litecoin, told Twitter why he believes Bitcoin, along with the growing Lightning Network (LN), is Bitcoin’s original concept as expressed in Satoshi’s Nakamaoto white paper. Although the LN did not exist when Bitcoin was introduced in 2009, it extends the functionality of Bitcoin to act as a fully decentralized peer-to-peer payment network.
Technically speaking, the LN is a payment protocol that works on a block chain and processes transactions outside the main chain. This allows the miner bottlenecks to be effectively avoided, so that the transaction confirmation occurs immediately.
The development team describes that if successfully implemented and deployed, the LN can process millions to billions of transactions per second over the network, which could put Bitcoin as a “legitimate means of payment” much more in the focus of some countries, as it no longer has bottlenecks or the like that could stand in the way of a functioning money value system.
Lee sums up in a nutshell why Bitcoin has an intrinsic value and is a suitable means of payment:They have a new form of money that cannot be blocked by spending, cannot be reversed or taken away, cannot be counterfeited and cannot be devalued. These four properties of Bitcoin make it very valuable.
Interested parties can read all 6 arguments put forward on Twitter.
Another celebrity on the scene is Bitcoin Cash loudspeaker Roger Ver, who also claims to realize Nakamoto’s vision. It states that Bitcoin has no intrinsic value, but that the value lies in the eye of the observer and not in the object itself.
To date it has not been found out who the true founder of Bitcoin is. Although there are indications that the CIA and NSA have established the identity, this information is still kept under wraps.