Even as he pushes to get the world past “the fax era of global payments,” Bitcoin bull David Marcus said he doesn’t believe that BTC will ever become a popular or common payment method.

“Our view is actually that Bitcoin is not the currency that people will use to buy things,” the entrepreneur said during an interview with CNBC’s Squawk Box on Monday.

The comment may seem surprising coming from Marcus, who co-founded PayPal and now serves as the CEO of Lightspark—a company building on Bitcoin’s lightning network. But it is on that network—a layer-2 scaling solution on top of the top cryptocurrency—where he is placing his bets.

The lightning network is intended to make Bitcoin transactions faster, cheaper, and more practical for small payments. It processes BTC transactions separately before later settling them on the main Bitcoin blockchain.

According to Marcus, the company’s goal is to turn lightning into a “universal protocol for money on the internet,” similar to how texting is a universal protocol for communication. However, the currencies transferred over the network would still be the fiat currencies we know and use today.

“A fragment of a Bitcoin on top of lightning is like a small packet data packet on the internet only for value,” said Marcus. Users cou

Go to Source to See Full Article
Author: Andrew Throuvalas

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details