News

Bitcoin is now “Granny-Proof” Courtesy of the Lightning Network

One often heard complaint about Bitcoin and other similar projects is how this technology is very difficult to use. Younger generations seem to struggle less with this new concept of money. Although Bitcoin is far from granny-proof at this stage, a recent Lightning Network trial confirmed things are heading in the right direction.

Older Generations and the Lightning Network

From the perspective of using Bitcoin as money, it quickly becomes apparent there is a lot of work left to be done these days.  Not only is Bitcoin relatively difficult to obtain for the average person on the street, effectively “owning” BTC involves a fair bit of work as well. It is not a compelling alternative for most people, and changing that narrative will not be easy whatsoever.

Even though Bitcoin wallets have become more user-friendly, they are still subjected to a steep learning curve. Sending payments to other people is still complex, as it usually requires scanning QR codes or entering details manually. Neither of those options is appealing to consumers, regardless of their age. Especially for elderly people, dealing with this fancy yet cumbersome technology is not something they have been looking forward to.

One possible solution comes in the form of the

Lightning Network. This new scaling layer streamlines Bitcoin payments. Users can open and sue payment channels for proper peer-to-peer payments. Moreover, these transactions are both cheaper and faster compared to how the Bitcoin network operates normally. It is widely considered to be a vast improvement, even though it can always be improved upon.

Related Post

Big was people’s surprise when it turned out even the elderly have – seemingly – no problems using the Lightning Network. More specifically, a Bitcoin user’s grandmother – who is 88 years old – has successfully conducted a Lightning transaction without any real problems. While this may be a very unique exception, it does show there is more to this technology than initially meets the eye.

While most of the details regarding this procedure remain unclear, it has been confirmed by several people the experiment was successful. This is also the first time one can truly call Bitcoin to be financially inclusive, rather than financially “awkward”. Stories like these highlight the potential of what Bitcoin can become in years from today. It is also a good example of why people need to learn to look beyond the price per BTC.

It is evident Bitcoin still has a very long way to go. It may not become a mainstream form of payment for the foreseeable future. However, the Lightning Network shows interesting things can happen if people are willing to make it work. It is now up to this elderly person to keep the momentum going and broadcast an LN transaction of her own in the near future. These are very exciting times for the world’s leading cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Why These Are the Top New Meme Coins to Buy This Weekend: BTFD Coin Raises the Bar With Big50, Bonk Rising Steadily, Dogwifhat in the Green

Back in the economic slump of 1973, some savvy investors took a bold approach—buying the…

3 hours ago

Surprise Hit: DEBO Joins the Ranks of the Best Crypto to Buy Now for Explosive Gains!

As 2025 kicks off, the crypto presale market is buzzing with new meme coins ready…

4 hours ago

Best Crypto Presale: Top 7 Coin Presales Set to Deliver Massive Gains as 2025 Kicks Off

Can you overlook the most successful crypto presales of the year that can potentially transform…

4 hours ago

Institutional Investor Accumulates $AI16Z, Reaps Over $6.99 Million In Profits

Over the past month, a prominent institutional investor, often referred to as "smart money," has…

7 hours ago

Ethereum Whales Dominate Supply As Key Price Levels Shape Market Outlook

A new analysis reveals a staggering concentration of Ethereum holdings, with just 104 whale addresses…

7 hours ago

Altcoins Rally Amid Bitcoin’s Decline, Accumulation Remains Strong

Tuesday saw a significant breakout in the altcoin market, even as Bitcoin briefly dipped to…

7 hours ago