Lightning Payments to Hive Accounts are now LIVE!!!
IT'S ALIVE!!!!
The new option to send Lightning to Hive is now live.
Click here: lnd.v4v.app search for a Hive account, verify the name and picture, fill in a memo and an amount then hit either Hive or HBD to send that value.
I just sent myself 10,000 sats for 4.357 HBD (4.600 - 0.243 change).
I immediately sent 10,000 sats back to myself and received 4.115 HBD.
The fees in each direction are 200 sats + 0.8%. So this cost me 0.242 HBD. Obviously if you move more reasonable sums the fees drop off quickly..
"conversion": {
"conv_from": "HBD",
"sats": 571.6845878136199,
"HIVE": 0.24905601453595658,
"HBD": 0.242,
"USD": 0.24562999999999996
}
The rates are the spot rates from CoinGeko so the system is really not taking a cut on the rates.
This is NOT completely Trustless
For a few seconds, up to a minute or two (especially when paying from Hive into Lightning as has been done many many times over the last few months), it can take my system some time to either find a path to pay the Lightning invoice or fail. These failures have become increasingly rare. If there is a failure on the Lightning side I return all the Hive funds and that happens on Hive timescales: very fast.
When you send a Lightning payment (by scanning the invoice the system shows you), the Hive or HBD is usually sent within a second. My system only pays Hive or HBD if it receives Lightning and these transfers of Lightning are irreversible and can't even be refunded.
If for any reason the system can't make a Hive or HBD payment, it will scream at me via various back channels until I can either make sure there are enough funds to make the payment or figure out if something else has gone wrong.
Experimental Proof of Concept
I've been testing this a whole lot myself but these things are always a little bit experimental at the beginning. Transfers are capped at 100,000 sats so under $50. My reputation is behind this service right now.
Decentralisation
The next step, which I've always been clear about, is that I don't want to be the only person running this code. I need to package this up and make it available for others to run. Running this requires the skill of keeping a balanced, well connected Lightning node with a capital investment of Bitcoin. I believe I can make the mechanics of the Hive/Lightning interface easy to run, but the Lightning side is out of my hands.
Then the plan is to have Hive chose which gateway processes any given transfer and by this means we have a decentralised system linking two of the most viable ultra low fee value transfer systems on the planet.
Bugs?
I'm sure there will be a few things I haven't caught and I'm waiting to squash them!
Thank YOU!
And of course, this is all thanks to all of you and the amazing Hive DHF for sponsoring this work which I believe benefits all of Hive.
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Notice many "new users" on Hive? Not many, like this place is a disease. No outside communities bringing in new comers. No other sites having many links or no links to any articles from Hive on sites that show professional interests they view as noteworthy to a profession or hobby. Hive articeles are rare on reddit.com. Wouldnt people post on reddit.com with links to their articles attracting their own new following and groups? No crypto forums acknowledge Hive exists as a place to be either. Ever seen a person asking for support show a way to give support with HIVE listed as a supporting wallet address? Is there a world address on Hive for countries made more unfortunate because of Hive? Would a large Hive holder or large earner of Hive donate a LARGE amount of Hive to help support Ukraine? What? Support something thing that could attract unwanted media attention? Nothing to see here......I dont get out much though.
People are hiding exposure to Hive. People either play dumb, could be scared or intimidated, mislead or dont beilieve it. Maybe just not electronically cultured enough to know. Who knows. Its mostly fake with fake attention paid for by people with ill intentions as many do gloating in their own groups special mindset. Such a small town here to support this kind of high pay. Who is buying Hive tokens with no notable new user base coming in? People trying to buy this place as a grooming ground on the sly. Articles that arent in the interests of their own goals and views dont get much attention. I dont see many high paid articles I would put on a real news sites or link to as noteworthy. Be part of one of their groups and they groom you. They buy comment and article writers in ways that keep their lies hidden. Here to take our FREEDOMS completely in treason as the sacks of shit they are.
Most interest groups and businesses have discord rooms on the side because they wont talk here or more able to teach views there to shill out of public view. They can do odd stuff to you in discord rooms they cant do here. I’ve seen people get mugged and shaken down in discords, be careful while visiting new discords, even if they are a business. They shut down the discord room along with all of the evidence of their crimes the group around @fyrstikken and his discord server @steemspeak. They also hide behind skirts there while on the creep like they do in the new ones they are in.
The operators doing V2K with remote neural monitoring want me to believe this lady @battleaxe is an operator. She is involved in the same discord groups around @fyrstikken and friends. Her discord is Battleaxe#1003. Shes in some groups with seemingly detached characters that dont even acknowledge the others in the group, looking oddly staged. She starts projects and does nothing with it or the delegations after its used to sway people. Like @steempowertwins does<------fake along with her @teamgood <------fake. No substance in her comments and has a following that adores her for what? Life coach she is not nor is she insightful with any meaningful skills to follow. Ruler of pixie dust maybe? I would like for someone to show me but probably wont out fear maybe? @fyrstikken groups around him down voted me into censored and not viewable on my accounts as soon I told what they were doing.
I cant prove @battleaxe is the one directly doing the V2K and RNM. Doing it requires more than one person at the least. It cant be done alone. She cant prove she is not one of the ones doing V2K because she cant and could care less. I guarantee she knows this is going around and still wont prove it because she cant. Many of us here can prove what they have been doing to survive the past 5 years. What does she live off of? It definitely isnt in public view here.
I was drugged in my home covertly, it ended badly. They have been trying to kill me using RNM with applied V2K mental games while revealing as many accessories to the crime as they can. I bet nobody does anything at all. Ask @battleaxe to prove it. I bet she wont. Pretty serious accusations to just blow off and leave the crypto community hanging in fear of this danger.
They want me to believe the V2K and RNM in me is being broadcast from her location. And what the fuck is "HOMELAND SECURITY" doing about this shit? I think stumbling over their own dicks maybe? Just like they did and are doing with the Havana Syndrome. They should start by looking at the communications between the top witnesses of Hive and the connection to @fyrstikken groups. Google his fucking name and see where his other interests lie around at least once maybe? The connections between @fyrstikken groups and all the exchanges built for Hive? Bet that would reveal some crazy ball less nutty shit. Homeland security should start preparing for their own incarcerations seeing how sloppy this was done. Patriot act my ass. Think we are really fools? Bad position your not getting out of. Dont be last to blow the whistle. Who will protect you?
People in and around @fyrstikkens groups are reckless and should have shown the proper media what they had before taking me hostage for 5 long torturing years and counting. That is a long time to wait for someone to die.
What would you say while having a gun pointed at your head from an undisclosed location? Have people find it? My hands are tied while they play like children with a gun to my head. Its a terrorist act on American soil while some yawn and say its not real or Im a mental case. Many know its real. This is an ignored detrimental to humanity domestic threat. Ask informed soldiers in the American military what their oath is and why nothing is being done. Nobody has I guess. Maybe someone told ill informed soldiers they cant protect America from military leaders in control that have ill intent. How do we protect locked up soldiers prevented from telling the truth from being treated as criminals? Not to mention civilians we let our leaders treat the same way. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism-terrorism
awesome, congrats on this major milestone!
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https://twitter.com/ascha3a/status/1514848001834950656
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This is amazing. It's working now, can take some time find a path to pay the lightning invoice. But the main thing is it's fast and improving. Soon it be running flawless !
This is awesome am really impressed your hard work towards it was successful. Keep up the good work moving
Nice job. I think that having options are always better and it can definitely make the investment process into Hive easier.
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Excellent work, Brian! 👏🏻
Great work @brianoflondon 🤝. I can't imagine the efforts and resources put in place in developing something as great as this.
This is cool, and a great breakthrough having a decentralized system with ultra low fee value transfers.
I hope you get the best hands to help you with this as it is not easy to run a great software solution like this alone.
Thumbs up 👍 and thanks for providing this solution to hive and its users.
sats? (There might be more people like me not knowing what sat is ) (I will look it up as well)
Sorry! A Sat is a 100,000,000'th of a Bitcoin. There are 100,000,000 Sats in a whole Bitcoin and Sats are the usual denomination of payments on the bitcoin network.
You can see typical conversion rates here:
https://peakd.com/@v4vapp/hive-to-lightning-gateway-fees
Let the games begin! Congrats on this integration and pushing HIVE closer to Bitcoin than any other cryptocurrency. Now we need to get it out there in the open and broadcast the h**l out of it!!! ;))
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Wonderful Bridge.I have heard you explain this lighting project severally. I believe this would greatly benefit Hive if we have everyone up and running. Great work @brianoflondon.
I'm looking to kick off my interview series again, it will be my pleasure to ask you some Hive questions via an audio podcast.
I think I have to sit up and try to understand this whole idea.
Really a great work brain for the growth of Hive 👍. Anyone can invest in Hive easily by converting there sats into Hive.
I feel educated reading this article, great work. I look forward to more of your fascinating articles.
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This is great! Thanks and congrats!
I'll try to do some testing later!
!PIZZA
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wow! congratulations! Tried it, and it worked like a charm! I'll be testing it now and will let you know if I encounter any bugs. But let me tell you that this opens up HIVE to huge number of people who already use or will soon use Bitcoin Lightning. Like I've said in other posts, Bitcoin Lightning is being adopted in El Salvador and neighboring countries, so we're right in the middle of something huge.
Samson Mow of Blockstream was actually in my studio last week:
so #probablynothing or the revolution is happening right in front of our eyes :)
Very very cool! :>
I literally gasped when I saw your post! This is such exciting news 😃
Thank you for doing the thing that helps us all get paid to do our thing and pay others for doing their thing.
good stuff bro
So impressed with how this was merely a concept only few months ago and here we are, done and dusted. Thanks for seeing this through. Awesome job
This is crazy and mind-blowing, this is certainly a huge success to the whole Hive community. BTC lightning Hive Integration, that's an absolute addition and very innovative addition.
I am personally happy to see this update, maybe I can make use of this channel in the coming weeks to buy hive and send to the Hive Account.
Wao. Congratulations man.
This is amazing, thank you, upvoted 100% from my humble stake. LFG
super cool that the Lightning Hive Bridge now works in both directions :)
I feel really ignorant but... I've been here on hive for a month and I don't know this thing, are there any other articles I can learn something about this project from?
this is a wonderful work i wanna learn more about smart contracts in the web 3.0 althougt i need lern more about programation
Time for more exposure on the big screen for other to see and use!
I had been looking for a simple way to convert HIVE to BTC on the Lightning Network and vice versa for days. I came across your interface by chance. I have not tried it yet because problems have arisen and I am undercapitalized. But I'm sure it's a great service. I hope to be able to test it soon. Grateful for this great work friend, you deserve all the support and therefore, you will have mine. Greetings.
So interesting 🤔🤔
Thank you so for this news 😍
This is awesome!
I have some sats left at my Nicehash Account, it's not much but transfering it away felt useless. Now I can make a use out of them. With some steps I can "mine" Hive that way!
There are many use cases for that! Thank you!
Can you explain what's lightning in few words ? Do you mean that we will be able to send to accounts less than 0.001 hive ? Something like satoshies in bitcoin, how many numbers after '' , '' it's possible now ?
Video.... probably best to watch the video below, I can't explain it better.
Lightning works at the level of Satoshis which are the smallest sub-division of Bitcoin (100,000,000 or 100 Million Satoshis in a full Bitcoin). Internally it works at 1/1000's of a Satoshi (milisatoshisis).
It's not fee-less but it is very low fee. Right now I'm seeing typical fees of around 0.5% for the kinds of real transactions I'm making.
Right now 0.001 Hive is worth 2.429 Sats.
And a single Sat:
Is it possible to create such a network in hive itself. I mean we will be able to have 0.0000001 hive. For example, we can reward with that with simple tasks. Imagine faucets paying in hive. Like a very little amount. Maybe that will make hive more popular. For example 1 hive could bring a lot of people to claim that 100 million satoshies of hive. Because they will know that's a free money, and they will invite a lot of people. Just like freebitco.io. You can create such faucet and just mention me if you want. I'm not a developer, but I have many ideas about what can be created. I hope to contact you to tell you about all my ideas. I already shared them with many developers, but I didn't find yet the right guy to help me. I have many ideas about DCC token I created on hive-engine as well. That's the biggest thing I could do. I mean in terms of developing something. And I'm learning now about how to create the token on other blockchains as well.
All of the problems with Bitcoin which Lightning fixes are already largely solved on Hive.
We have fast, fee-less transactions and we aren't close to any kind of scaling limits. This is not true on Bitcoin.
I believe there would be a way to "wrap" Hive on Lightning but again, because our blockchain is so superior already, this would be silly!
Personally I think having our smallest subdivision at 0.001 HBD which is 1/10th of a US cent is suitable for most real world uses.
This works like a charme! Many thanks.