Coinbase CEO Brian Armstrong owes me $100. That’s because he may not know how to use the Lightning Network, the instant payment solution built on top of Bitcoin.
Armstrong, who has been building in the Bitcoin (BTC) space since 2012, recently tweeted that he would pay people to provide the “best examples” of people using cryptocurrency in Africa. “If you are using crypto in Africa, please reply with a short (<30 seconds) video or photo of how you are using it,” Armstrong wrote. "The best few examples get $100 worth of crypto."
If you are using crypto in Africa, please reply with a short (<30 seconds) video or photo of how you are using it. The best examples get $100 worth of crypto. use hashtag #CryptoAfrica
And if you haven’t already, try Coinbase Wallet with self-custody – send your feedback https://t.co/zWvaH1nerF
—Brian Armstrong (@brian_armstrong) April 7, 2023
After all, this is the CEO of Coinbase, so I shared a video of myself using Bitcoin in Africa, which was part of a 30-second segment of a recent Cointelegraph documentary covering Bitcoin in Senegal.
(embed)https://www.youtube.com/watch?v=1WL3dHoVX6Q(/embed)
The tweet quickly became the most popular and most shared response to Armstrong’s query. (Crucially, the tweet was referring to Bitcoin in Africa, not cryptocurrency in Africa, and demonstrated the ease and speed of the Lightning Network.)
However, Armstrong seems to have ignored my submission, despite over 600 likes and 100 retweets. The next most popular submission had just 50 likes. Therefore, I reached out to some key thought leaders, creators, and influencers within the Bitcoin community to expand on the tweet. Wicked, an anonymous Bitcoin educator and data analyst, tagged Armstrong in a post, accusing him of “actively ignoring the #Bitcoin Lightning Network.”
My tweets are automatically deleted after a few months, so no search history.
Lightning is great and something we will integrate.
—Brian Armstrong (@brian_armstrong) April 8, 2023
Wicked very kindly brought my tweet video about Bitcoin in Africa to Brian’s attention. Armstrong’s tweet and assertion that “Lightning is great and something we will integrate” led to worldwide media reporting on Coinbase’s upcoming development. Then he also tweeted that he had sent me the money.
Awesome! sent $100 to [email protected]
health
—Brian Armstrong (@brian_armstrong) April 8, 2023
This is where things get weird. Armstrong said that he paid me the $100. He said that he sent $100 to the Lightning address shown in my Twitter profile bio: [email protected]
Now, if you’ve never used the Lightning Network before, you’d be forgiven for mistaking this address for an email address. But would the Coinbase CEO make that mistake? Could Bitcoin OG not have recognized that the request in my bio, which reads “Send BTC to [email protected]”, surrounded by lightning bolt emojis, could be my Lightning address?
Side note: Running a Bitcoin node is a bit technical, and sending money on the Bitcoin blockchain for the first time is a bit stressful, since the transaction takes about 10 minutes to confirm and we live in an instant world. But using the Lightning Network in 2023? It’s incredibly easy. A walk in the park. Oh really.
“That’s a big decision, Joe” I hear you say
If that is. And I have the receipts to prove it. It’s so easy to use the Lightning Network that I stand on the streets in places around the world handing out Bitcoin to people in their new Lightning wallets, and I film their reactions.
The most common comments are “I didn’t know it was that easy” and “Wow, it’s so fast.” The videos are in me Youtube channel. Here is a video shot in France for the Cointelegraph YouTube channel where I hand over Bitcoin:
(insert)https://www.youtube.com/watch?v=6Vuvyzwaaag(/insert)
So please, let’s not pretend that Armstrong is overwhelmed by the complexity of sending money to my Lightning address. Also, interestingly enough, Bitcoin advocates around the world saw my tweet and were happy to send me sats to show that my Lightning address is alive and well.
Let’s go back to the story. Danny Scott, CEO of CoinCorner, a Bitcoin and Lightning company, was quick to point out to Armstrong the Twitter that I might have made a mistake by confusing Bitcoin and email, since Coinbase provides a “send to email” function.
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Scott told Cointelegraph in an email: “Obviously, we know that the address (that Joe shared) is a Lightning address, but clearly not everyone does.”
“So I’m guessing Brian knows very little about Lightning right now, particularly LNURL, Lightning addresses, and other innovations being developed, which is perfectly fine, he’s distracted, it happens, now we just hope he helps himself. and to the industry by turning their attention to what really has substance and long-term value, Bitcoin and Lightning.”
It’s true: Coinbase offers the exchange of more than 250 different cryptocurrencies; That’s a lot of tokens to keep an eye on. And as Scott adds, “I can appreciate how busy you’re going to be – this industry doesn’t sleep, and running a Bitcoin company myself, I know it feels even on a smaller scale.”
To give Brian and ultimately Coinbase the benefit of the doubt, I waited a few days before writing this article. I have repeatedly tweeted to Brian (no response) and also reached out to the Coinbase press team. They told me they would get to the bottom of it, but “I guess Brian is probably batching shipments at certain times.” A day has passed since this message (more doubts, benefits) and he did not send an explanation.
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The email from the press team was particularly ambiguous, referring to “dosing.” Batching consolidates multiple payments into a single transaction on the Bitcoin blockchain, not the Layer 2 Lightning network. Again, not familiar with Lightning. This adds further insult to injury: Could it be that the Lightning Network is simply not on Coinbase’s radar?
It’s been three days since Armstrong said he would send the money, and there have been some simply wonderful memes from Bitcoin and the crypto community in general.
Armstrong has been active on Twitter, while his company is busy launching new projects and winning insider use cases for the 250+ crypto projects Coinbase hosts.
Meanwhile, I’m still waiting for my $100. But I’m also increasingly alarmed that billionaire, crypto OG, and Coinbase CEO Armstrong has had trouble spotting a Lightning address.
joe hall he joined Cointelegraph as a reporter in 2021. He holds an MA in French and Spanish from the University of Edinburgh and a BA in Languages from Sceinces Po Lyon.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
