Anti-Bitcoin Site Shitcoin.com CEO Buys Majority of Lightning Network Nodes
Anti-Bitcoin CEO Purchases Majority Nodes on the Lightning Network
The CEO of the notorious anti-Bitcoin website, shitcoin.com, Andreas Brekken, recently opened channels worth $50,000 on the Lightning Network, making him the most significant node on the entire platform. As expected, this development resulted in a contentious debate on social media, primarily Reddit, amongst the network's users. Andreas further fueled the discussion by posting that there is an impending review.
As mentioned above, Andreas currently enjoys the most significant share on the Lightning Network. His most recent purchase represented 15% of the total nodes and increased his control over the network to 29% (equivalent to 101 channels). This unforeseen development drew mixed responses, with a startup on the Lightning Network labeling Brekken as the King of Nodes. When the tweet was shred on Reddit, several users provide differing opinions on the intent behind Andreas’ acquisitions. Mostly, many posts seemed to concur that the moves by Brekken were a marketing gimmick.
However, one user on Reddit spotted a tweet by Andreas that asked his followers if they wanted shitcoin.com to compile a review of the Lightning network. The tweet has since been deleted. Within the tweet, Andreas described how he usually reviews blockchain and cryptocurrency platforms, with the most notable aspect being the purchase of assets. Responding to this development on Reddit, albeit under an alias, Brekken said that he would not issue any spoilers and user have to wait for the completion of the review.
Typically, shitcoin.com ranks and reviews altcoins through the acquisition of ICO tokens and testing of the corresponding blockchain platforms. Often, the site critiques ICOs and digital currencies for misleading investors through false and unachievable goals. The term shitcoin is the colloquial reference for cryptocurrencies that fail to gain popularity and lose their market value as a result.