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This is a value for value post: see the explanation in the footer.
Lightning to Hive and back again
It's been a while since I gave a usage update on v4v.app which I did back in May. So here I will present the last year's worth
Usage Split
The system goes both ways, Hive to Lightning and the opposite. I think because the majority of people on Hive are actually earning Hive, I seem more traffic going out of Hive to buy things with Lightning than coming in to Hive. Though I should point out that the Podcasting 2.0 value 4 value payments to podcasters are Lightning to Hive.
Turnover and Profit
The year's total was $64,193 passed through and a profit of $1,466. Though this doesn't fully account for the BTC Hive price volatility and considering how Hive has fallen vs BTC, I've almost certainly lost money running this from a pure P&L basis.
Up until very recently my personal trading of Hive back into BTC probably fell behind as I was only really doing this when I needed to "fill up" my Lightning node with sats. I've now put in place a more rigorous system so I am covering rates much more carefully. In order to keep up I've given myself the option of automatically covering trades over on Binance.
As you can see this leads to a pretty interesting trading graph with a lot of automated sells of Hive into BTC. But I sincerely hope I will do away with this part of the system over the next year. More on that bellow when I talk about the future.
DHF
The reason I wasn't obsessively making sure I was keeping up to date with trades was because the grant from the DHF of $70 per day, allows me some leeway. This payment, whilst not enough to justify my full time work, definitely helps me keep this thing running, managing the Lightning node and paying for the various servers it uses.
I notice that I'm nearly dropping out of funding again, I hope that doesn't happen but it is something I have to keep an eye on.
The Future
I'm going to write a separate post on the future for v4v.app. Now that I have a better understanding of what @vaultec is doing with @vsc.network are doing, I can see the future for this bridge much more clearly. Look for that post in a few hours.
Update: The Future of V4V.app and VSC.
And Thanks
And finally huge thanks to all how have supported and continue to support my work here on Hive. I like to think I'm contributing to a much bigger set of goals and that here on Hive we're doing something important for the world. Without the witness votes and funding proposal votes, I'd certainly not be able to put in the amount of time I am on this work.
On a personal commitment level, I made multiple large power-ups last year and powered up at least 1 HP every day of the year (except for 3 days when something failed and I didn't notice grrrr). Perhaps this year I'll get a perfect record.
Value for Value
For the last few months while building @v4vapp I was generously supported by the DHF. Going forward I have a much more modest support which covers direct server costs and a little of my time.
If you appreciate the work I do on and around Hive, you can express this directly: upvoting posts on Hive is great. Also consider a direct donation (there's a Tip button on Hive or a Lightning Address) on all my posts.
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I jumped on Nostr beginning of December and have been using your V4V.app daily to shift extra HBD to sats. I love how easy it is and the fee is quite minimal, in the $.01 - $.10 range from what it looks like in my math for 2 HBD transferred out. Keep up the great work and know I appreciate the service.
Thank you, yes for fees at these small amounts, I don't think there will be a cheaper way of doing this.
This is a very valuable service to the Hive community.
Keep up the good work!
Thank you!
Congratulations on your 5th birthday and you've been doing a massive job with the lighting network. Also sometimes these power-ups fails depending on the frontend you're actually using, sometimes it can fail.
👍
Thanks for the work you are doing here!
You’re doing a great job and I hope you keep it up
It has been a long since I used the lighting network but I’d keep it up by using it when it is needed
very cool work you do bro!
You are really doing a great work and thank you for the gift of you to the blockchain
Thank you so much for your Consistency in doing good and producing great work over there
#hive #posh
We also see that you have been working very hard for this platform and this app for a long time and through this app you people are benefiting a lot by transferring assets from one place to another.
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