Categories: Bitcoin Business

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Click here to view original web page at

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status and Lightning Network’s advantages in an extensive conversation with SFOX. Blockstream has intended to extend its support to the network of Bitcoin through projects like Satellite program.

However, Mow’s reply to a question about his real-life usage of digital currencies, left everyone surprised. He said he doesn’t use it in real life; he uses credit cards. To elaborate, Mow said that when he has said the same thing in the past, people have altered it by stating he hates bitcoin. Clarifying his stance further, Mow added that he thinks Bitcoin is not good for payments. Bitcoin is more of a wealth transfer medium and store of value, according to Mow.

Not stopping there, Mow also explained what he feels about crypto, Bitcoin, and its development. He said that generally, we use things the way we want. Gold is used for value transfer as well as wealth storage. Paper is used for money which is ideally not good as paper can be easily shredded or burnt. But we still utilize it. Just because BTC is information, doesn’t change that.

As per Mow, Bitcoin is superior considering all these facets. It also explains the reasons for our decision to treat it as money because it is actually better in each and every way. Continuing further, he said that you could utilize it for payments as well with Lightning. That way, the entire dynamic is changed. Now, if one is transacting BTC over Lightning, it’s not being done on credit. Moreover, there are almost zero fees. So, it changes the entire equation to a great extent.

It must be noted that Blockstream is working on Liquid, a sidechain product that is compatible with Lightning network. Liquid aims to reduce latency in the transfers of Bitcoin between exchanges. It also has a feature called Issue Assets, which lets its members tokenize assets, fiat currency included, and transfer the assets between nodes that are away from the primary Bitcoin chain’s delays.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin Price Chart Forecast: BTCUSD Awaits Pennant Breakout

Bitcoin Price Forecast: A series of lower highs and slightly higher lows has formed a pennant pattern Regardless of direction,… Read More

2 hours ago

Billionaire Blackstone CEO Heaped Praise On Blockchain—But Made A Bitcoin Warning

Bitcoin has won over many from the traditional finance industry , but far more of the investment old guard remain… Read More

2 hours ago

Early Ethereum advisor charged with extortion and arrested

The accused, Steven Nerayoff, violated the agreement made with a blockchain firm. If found guilty, Nerayoff and his associate Michael… Read More

2 hours ago

CME Group Reveals Plan for Bitcoin Options in Q1 2020

Leading derivatives exchange operator, CME Group announced in a press release today that it will launch options on its bitcoin… Read More

8 hours ago

Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as… Read More

8 hours ago

IBM Stock Gets a Blockchain Pop

IBM (NYSE: IBM ) investors haven’t had all that much to complain about in 2019. After a precipitous drop over… Read More

8 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More