Cryptocurrency news

Tony Weiss: "bitcoin is strong even without Lightning Network support»

Tony Weiss: “bitcoin is strong even without Lightning Network support»

Cryptocurrency analyst Tony vays believes that the first cryptocurrency is quite modern and may well compete with later altcoins.

Many analysts believe that bitcoin is inferior in scalability, transaction speed and the amount of commissions to new cryptocurrency projects. Therefore, the lightning Network scaling solution was launched, which should help bitcoin solve these problems and make cheap and fast payments, including for small amounts. However, according to Weiss, the Lightning Network is not very necessary for bitcoin, although it will help make transactions more anonymous.

“Transactions in the Bitcoin network have always been very cheap and fast, so there is no special need for the Lightning Network. But this solution is developing and becoming more popular. And when universal acceptance comes, in a year or two, everyone will be happy to use the Lightning Network due to increased anonymity,” Weiss said.

The analyst recalled that in the next few days, the blockchains Bitcoin Cash and Bitcoin SV will be halved rewards for miners. This may also affect the first cryptocurrency — some miners will temporarily switch to bitcoin mining, which will increase the hashrate and may increase the complexity of mining. However, the hash power in altcoins is much less, and in a month the reward will be halved in the Bitcoin network. Therefore, the effect of the transition of miners will be weak and short-term.

The other day Weiss said
that bitcoin may grow in the near future, and that he personally plans to buy more BTC at the levels of $6,300 – $6,400. Now for the first cryptocurrency give $7,400.