litecoin banknotes bg 775x500 - Charlie Lee and Roger Ver Debate About Bitcoin and Cryptocurrencies

Charlie Lee and Roger Ver Debate About Bitcoin and Cryptocurrencies

Charlie Lee and Roger Ver have been talking about Bitcoin and the Lightning Network (LN) during a debate organized by Bitcoin.com. During the debate, both exchanged strong opinions about LN and the authenticity of it as a “peer-to-peer” process.

Ver and Lee Debate

Roger Ver is a controversial figure in the space that has supposed the Bitcoin fork of Bitcoin Cash (BCH). Charlie Lee is the creator of Litecoin. Each has their own interest in any debate about Bitcoin, related to the “spin-off” they support.

Ver started to ask Charlie Lee about how the LN is being developed around the world. While Lee explained how the network is growing and being developed, Ver tried to show him the negative points it has.

The Lightning Network is the ultimate scaling solution for Bitcoin. During the last year, Bitcoin experienced very high fees for the transactions it processed. At the same time, transaction times were also extremely long due to the congested Bitcoin network. Because of this reason, Roger Ver and other developers decided to create a for from Bitcoin, known as BCH.

Bitcoin Cash is an on-chain scaling solution for Bitcoin. Indeed, it has implemented larger blocks than Bitcoin, allowing the network to process more transactions faster and for lower fees.

About Bitcoin getting congested, Lee said that the world’s most recognized virtual currency became popular too fast. Due to this reason, developers are working in the LN rather than increasing block size.

On the matter, Lee said:

“What happens when that happens is congestion it’s kind of like… if you open a restaurant business, then it got popular too fast, then you have congestion.”

In order to solve the congestion, it is necessary to expand, he said.

Roger Ver, instead, argued that Bitcoin is no longer a viable peer-to-peer electronic cash system. According to Ver, it is not possible to make fast and cheap purchases with Bitcoin. This is why Lee said that the solution to the problem is the LN.

However, Ver explained that there are currently no shops accepting LN payments. He defended Bitcoin Cash saying that the solution is already available without having to open LN channels.

Both figures debated for twelve minutes and had a very interesting conversation about Bitcoin and cryptocurrencies. Clearly, they have different opinions about how to make the crypto space better, but the overall discussion was very positive.

 

Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

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