Bitcoin's Lightning Network Torch Ends in Charitable Donations of Over $2,000

Francisco Memoria

Bitcoin’s Lightning Network Torch has recently reached its final destination, charity-focused organization Bitcoin Venezuela, which recently revealed it received it as a donation. The torch grew to 0.41 BTC (over $2,000) before being donated.

The Lightning Network Torch is essentially a trust-based game played on the cryptocurrency’s layer-two scaling solution. It was started by anonymous Twitter user Hodlnaut, and saw users pass each other a specific amount of BTC to each other, adding a few satoshis to that amount every time they passed it along.

Bitcoin Venezuela is seemingly an organization that helps people in Venezuela survive thanks to cryptocurrency donations, giving away meals to those who have suffered from its economic collapse and recent power outage.

From its tweets, the organization has also partnered with the donation-funded Locha Mesh Network development initiative, which is looking to create cheap, opensource do-it-yourself (DIY) devices that could help users send bitcoin without internet access.

The torch, as CryptoGlobe covered, has passed various prominent users in the cryptocurrency community. These included Twitter founder Jack Dorsey and various CEOs of cryptocurrency-focused firms. Notably, the torch even reached Fidelity Digital Assets.

Bounty Put On Lightning Network Torch Creator’s Identity

Notably hodlnaut, the Twitter user who initially created the Lightning Network torch, has taken a break from the microblogging platform recently. This, at a time in which self-proclaimed Satoshi Nakamoto Craig Wright put a $5,000 in Bitcoin Satoshi’s Vision (BSV) bounty on his identity.

According to pro-BSV news outlet CoinGeek, Wright served hodlnaut legal papers warning him he “had enough” of what he claims to be a “targeted campaign to harass and libel” him with “ highly defamatory and abusive tweets.”

Taking the threat of legal action into account, various cryptocurrency supporters on Twitter changed their Twitter names to “hodlnaut” and used the same profile picture the torch’s creator used, showing support.

The CEO of major cryptocurrency exchange Binance stepped in, claiming that Craig Wright isn’t Satoshi Nakamoto, and noting that if he doesn’t change his conduct the BSV token will be delisted from the exchange.

Wright has notably been called a “proven serial forger of documents” by WikiLeaks, an organization that recently raised nearly $30,000 worth of bitcoin after the arrest of its founder, Julian Assange.