Twitter Finally Going Public About Teaming Up With Bitcoin and Lightning Network

[MyIota]

Twitter came out in public and actively stated that they've donated millions of dollars to Lightning Labs to get their beta version out and running.

The news reports that now people can send btc and ltc to each other without the transactions having to go through the blockchain at first glance.

To put it clearly, the lightning protocol and the lightning network weren't created or developed first by lightning labs. Like everything in crypto, lightning protocol was an open source project during its alpha phase.

But all the top crypto leaders and orgs agreed that Lightning Labs was the best at developing the protocol, which is why they donated millions to their cause -- and now we have their beta version.

Everyone is saying this is a big milestone for bitcoin, and I believe it is too! Once people can send btc to each other without any fees and without waiting more than 5 minutes -- we'll see more transactions and more livelihood.

This could mark the start of general public and store acceptance. Groceries won't fear transaction fees anymore, and normies will love how fast they can send money to their friends and family.

[NorrisK]

This is interesting for sure. I was never sold on the lightning network, but some good scaling solution is badly needed. If this solution is going to be lighting then so be it.

Tech giants supporting it is always good as it shows trust by the big guys and draws many new people in.

[CodyAlfaridzi]

Twitter came out in public and actively stated that they've donated millions of dollars to Lightning Labs to get their beta version out and running.

This is indeed a very good move by Jack. The man really knows where the future is going. Also kudos to folks from Lightning Labs! I really hope the final version could be ready soon and everyday Bitcoin user like me can use it. Bitcoin tx fee is already back to normal but this will make Bitcoin goes to another level.

[bitart]

The Lightning network has developed to another phase, it's in beta now, and it's good news also that Twitter is counting on the Lightning Network's advantages. It doesn't mean that we'll pay with bitcoin at the groceries store next week, but it's a good sign that the technology has the possibilities. If the development continues, the time of the daily payments for bitcoin is not far away anymore...

[avikz]

The Lightning network has developed to another phase, it's in beta now, and it's good news also that Twitter is counting on the Lightning Network's advantages. It doesn't mean that we'll pay with bitcoin at the groceries store next week, but it's a good sign that the technology has the possibilities. If the development continues, the time of the daily payments for bitcoin is not far away anymore...

It is indeed a great development. LN can solve scaling issue of bitcoin network once and for all. As per the last development, it was being tested in the testnet, but since 15th March it has moved to the beta phase. And as correctly mentioned, once it is fully implemented, bitcoin will look more appealing to the store owners worldwide because it will eliminate the waiting time as well as cut down the transaction fees to the lowest possible level.

[Lucius]

This is certainly good news for BTC but also for litecoin,as Charlie Lee say it will enable "to do cross-chain atomic swaps between bitcoin and litecoin".Two things in OP are not exactly 100% accurate, fee will still exist and Twitter is not donate millions of $ to Lightning Labs.In one of the articles that post this news it is said that Lightning Labs has raised 2.5$ million from many investors including Twitter.Some others are Charlie Lee(founder of litecoin),David Sacks(PayPal chief operating officer),Jacqueline Reses(Square Capital executive) and some others.Jack Dorsey CEO of Twitter did not want to comment anything about how much money is invested or or give any other statement regarding BTC or LN.

When LN becomes fully operational it will mean a lot for confidence of users from both side,buyers and sellers.But even with light speed transaction and extra low fee one big problem remains-volatility of BTC.Most of merchants will need to sell BTC immediately after they receive it because of the risk they will lose value of received BTC.

[buburjelly]

This news is good for bitcoin development and may also affect bitcoin price movements in various marketplaces. I am still familiar with bitcoin but I am sure this lightning network is the right solution to solve the problem of high bitcoin transaction costs although there are some opinions that this lightning network can be utilized by bitcoin billionaires to generate some benefits from the existence of such networks.