If you just mindlessly blitz away, then you'll not get much out of it.
If you use it to work on recalling opening preperation, and accurately and rapidly calculating lines, and managing time, then it can help your OTB play.
Live chess - for better or worse ?!
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Playing live chess- does it improve or affect your chess skills ?
GM Igor Smirnov once told me that it worsens your game ! What is the contemporary opinion ?