Peter Rizun's Lightning Critique: FUD or Fair?

Mr Obnoxious - Un pódcast de Peter McCormack

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Interview location: Skype
Interview date: Wednesday 18th April, 2019
Company: Bitcoin Unlimited
Role: Research Director

The scaling war pitched two ideologies for the future of Bitcoin against each other. One side believes that Bitcoin can scale on-chain with larger block sizes while the other side believes that the base layer should be kept small with payments scaled off-chain, using second layer technologies such as the Lightning Network.

Peter Rizun is firmly in the large block camp, and while there are questions over his previous thoughts and work, he is technical, and he offers a harsh eye over the Lightning Network. Yes, Peter’s approach has a bias, he wants the Lightning Network to fail to support his vision of larger blocks, but does this make his claims invalid?

In this interview, we discuss why Peter supports on-chain scaling and his Five Fundamental Flaws of The Lightning Network, including issues such as how small payments are not trustless and how high layer 1 fees impact layer 2.

Are his criticisms FUD or fair?.

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Helpful Links:

Connect with Peter:
- On Twitter @PeterRizun
- On Medium
- On CrunchBase

Peter’s Lightning posts:
- Visualizing HTLCs and the Lightning Network’s Dirty Little Secret
- Understanding the cost of trapped liquidity in the Lightning Network, Part 1
- The answer to yesterday’s Lightning Network Quiz was “(A) 1 coin”

Mentioned in the interview:
- Bitcoin Unlimited
- Rizun Paper: A Transaction Fee Market Exists Without a Block Size Limit
- Segwit2x
- Garzik bug

Other relevant WBD podcasts:
- WBD097: Peter Van Valkenburg on Lightning & The Law
- WBD095: Sergej Kotliar From Bitrefill on Using Lightning in Retail
- WBD094: Nic Carter & Pierre Rochard on the Economics of The Lightning Network
- WBD093: Jack Mallers on Lightning Design and UX
- WBD092: Christian Decker - An Introduction to The Lightning Network
- WBD074: Matt Corallo on How Bitcoin Works
- WBD068: Peter Todd on the Essence of Bitcoin
- WBD018: Bitcoin Scaling and Lightning Network with Jameson Lopp
- WBD017: Why Small Blocks are Important for Bitcoin with Samson Mow
- WBD016: Roger Ver on Why Bitcoin Cash is the Real Bitcoin

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