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Elon Musk on Bitcoin: Lightning Network is Needed



Elon Musk never stops tweeting about Bitcoin, and this time he spoke about the Lightning Network, arguing that it is currently necessary.

He did so during a discussion that emerged on Jack Dorsey's social network, for the umpteenth time, about the energy consumption of Bitcoin, a reason that led Tesla to reject payments in BTC.

It was Brett winton, research director of Ark Invest, who first tweeted, writing that Ark had already shown that it is possible to produce Bitcoin with renewable energy.

To this, Elon Musk responded by arguing that this can certainly be achieved over time, but the recent growth in Bitcoin's energy consumption could not be so quickly supported by renewable energy.

The Tesla CEO also reiterated the fact that Bitcoin mining consumes more energy than a medium-sized country. And yet it would be easier to check consumption if the top 10 Bitcoin mining farms clearly indicated how much renewable energy they use.

Elon Musk on Lightning Network for Bitcoin

This is where the YouTuber stepped in BTC Sessions, which explicitly asked Elon Musk if he would consider a layered approach to Bitcoin, with Lightning network, which would not sacrifice decentralization and network security. To this Musk replied:

Achieving truly decentralized finance, power to the people, is a noble and important goal. The layer count depends on the projected bandwidth and computation, both of which are increasing rapidly, which means that the single-layer network can carry all human transactions in the future. For now, Lightning is needed. "

In short, the question of energy impact remains, but Elon Musk seems to be considering so-called “layer 2” solutions to make Bitcoin more sustainable.

Lightning Network enables faster transactions. Its use has grown a lot in the last year, although not yet widespread.

Perhaps Elon Musk's tweets could also have the ability to increase the popularity of Bitcoin layer 2.


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