Blockstream’s Samson Mow Claims Bitcoin (BTC) Was Never Designed for Blazing Fast Speeds
Since the start of 2019, BTC has been on an upward trend. Each trend has led to BTC going past the $8000 mark. Despite these surges, there has not been a single major price correction.
It has led to a sense of optimism that had slowly ebbed from the crypto community as prices of the BTC slowly plummeted in 2018. In fact, even crypto analysts are now hopeful about what the future might hold for crypto.
There Are Doubts about the Lightning Network
In recent weeks, doubts have developed about the Lightning Network. It is a network created to solve the issue of long-term scalability in the BTC network. In the last month, it has been on the decline, not delivering on its promise. One person is not surprised by this. The CSO of Blockstream, Samson Mow indicated that the transaction speed was never a major issue with BTC.
During an interview with Max Keiser on the Keiser Report, he said that BTC was never built for speed during inception. The CSO claimed that when being created, it was intended to be used as a store of value. It would be a medium for wealth transfer among peers and it also had to be reliable in this function. He argued that the slow speed of transactions compared to other crypto was built in as one of its features and it is not a bug.
Mow added that if you want digital currency, it does not need to be fancy like most altcoin projects. He said he did not want to blast them but quipped that most of them were mere gimmicks. What the creators wanted, in his opinion, was a reliable form of money that was bulletproof at all times.
Roger Ver Responds
It was not long before an account controlled by Roger Ver on Twitter issued a rebuttal. The account repeated what Mow had said and added that something could not be effective as money if it could not move fast. It is worth noting that Ver is a proponent of BCH.
The account went on to discuss mow comments such as BTC was not good for people living on less than $2 daily and that BTC was a horrible way of making payments.
Mow was not to be outdone; he tweeted that the BCH was one of the biggest transfers of wealth from dumb people to smart people. In his opinion, it would appear he does not think BCH is viable.
The Long Running Feud of Roger Ver and BTC
Roger Ver is one of the proponents of BCH. In his opinion, BTC has no future. It is too complex and slow to serve the masses, according to the ideals of the Satoshi Whitepaper. He believes that the only hope for crypto is BCH.
However, not the whole community has gotten behind him. For one, the price of BCH has not been as stable as that of BTC in recent times. Despite this, it would appear that in future BTC would be used as a store of money while BCH will be used as a means of payment if things stay as they are.