BTC millionaire Eric Finman says Lightning Bitcoin is centralized like Visa

09 Mar, 2019 | Updated: 09 Mar, 2019
by Joeri Cant
BTC millionaire Eric Finman says Lightning Bitcoin is centralized like Visa

One of the world's youngest Bitcoin millionaires, Eric Finman, explained in a recent Twitter rant that Lightning will turn the world's most popular cryptocurrency, Bitcoin, into Visa and Mastercard.

Finman, who invested a $1,000 gift in Bitcoin at age 12 in 2012, and made hundreds of thousands of dollars, before turning this into millions, went on a Twitter rant, where he bashed the Lightning network.

The young Bitcoin millionaire starts his rant by stating that 'Bitcoin is dead' and continues by saying that Lightning will effectively turn Bitcoin into Visa and Mastercard, and will put it into the hands of Silicon Valley, rather than miners, node operators, and the like.

Finman goes on to explain that while Lightning isn’t as centralized as the Federal Reserve, the Lightning Network could introduce risks to the once 12,000,000% decentralized Bitcoin.

Despite the fact that Finman is convinced that Lightning will turn Bitcoin into Visa or Mastercard, many other Bitcoin ethusiasts still endorse the second-layer protocol, and it seems that crypto Twitter isn't feeling Finman's sentiment either.

Read more: 10 times Bitcoin was declared dead… and survived

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