I've done a huge amount of work on @podping (thank you so much to the DHF for the funding).
At the end I'm asking if you want a service that will move small amounts of Bitcoin Sats in and out of Hive easily...
And along the way I realised the other huge part of Podcasting 2.0 is also available to Hive: that is the Value 4 Value system.
I'm not quite ready for the full reveal but I can tell you that there is already a gateway operating which will convert Lightning transfers of Sats for a Video played from 3speak via one of the value enabled Podcasting apps (I wrote about this in my last post).
And it's working! Last night I listened/watched to @jongolson 's latest show on @podfriend Podfriend on the web. As I was listening I was streaming sats which were instantly received and converted and sent as a transfer on Hive. For now the message is in the clear, but it will be encrypted when this is live.
I'm pretty excited by this!
Having gone pretty deep into the world of Lightning ⚡️ . At first it's a heck of a steep learning curve and the system is very different to something like Hive or even Bitcoin itself. There is no concept of a static address to which funds can be sent, everything is done via ephemeral invoices which are created and paid or expire. The Podcasting 2.0 use case of "streaming sats" requires a recipient to run a full Bitcoin node 24/7 to receive or use a third party service. In effect that is what I'm doing for @threespeak by receiving payments for all creators and then forwarding the same value in Hive.
But what I can now see is a pretty simple interface where anyone can send a Hive or HBD payment to an automated account along with a valid Lightning invoice. These look like this:
lnbc50u1pssq327pp57rx96k8vp05cpackrrx9nfpsh72xnsx0zu7vpelc82v7tae5ry3sdzs2ajjqer0dcnhggrhv9h8ggrzd3sku6m9w3ejqmmjypmkzar9wghzut3qdf6hxapqwdjkuepq2dq4g5epcqzpgxqrrsssp50zwjwas5x2ukkkwnp4j9cy7x8wjwajkpwt6ktkdlva605dk5wl3q9qyyssqe3paz4fg55lqdlmx44untkarp7762pl4qr6n7pykch6unkcfcp0x74rz8w059hz8c902dr5y78v969g9hhr09x49h0p8lcltxcme9eqp088f46
and are often displayed as QR codes.
As you can see, that invoice (which would send me sats if you happened to snap it with a Lightning Wallet app) will probably have expired by the time you see it.
5000 Sats is 5.631 Hive or 1.932 HBD. Once the bot receives that invoice along with 5.631 Hive or 1.932 HBD it will pay the Lightning invoice instantly. Any issues with payment: Lightning suffers from various routing problems, and the Hive can be refunded (free transactions!).
[
{
"BTC_USD": 37815,
"sats_USD": 2644,
"HBD_USD": 0.983722,
"Hive_USD": 0.331787,
"Hive_HBD": 0.3372771982328341,
"sats_Hive": 877.3952135396007,
"sats_HBD": 2601.4068491339417,
"Hive_sats": 0.0011397372410612832,
"HBD_sats": 0.00038440738338676983,
"fetch_error": [],
"last_fetch": "2021-07-27T17:27:09.500000",
"fetch_time": 0.004197288000000299
},
{
"sats": {
"sats": 5000,
"Hive": 5.63063063063063,
"HBD": 1.9319938176197837,
"USD": 1.937984496124031
}
}
]
Another Proposal?
I'm working flat out on all of this, @podping is a quiet success and just works. If I'm to put this in place, is there demand? I believe I might put in another funding request to cover the immense amount of work I've done and have yet to do, especially front end work.
Let me know in the comments what you think!
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This is a fantastic development.
It will change the lives of Hive users in countries with weak, inflationary currencies.
A Hive user in Venezuela or Nigeria or El Salvador will be able to send their Hive earnings directly to their BTC Lightning wallet to pay for groceries or pizza etc.
Sats can be saved as HBD at 10% interest and then converted back as needed.
Your work is appreciated. Trying to do any of this cramps the brain. If I did manage to set up my own node, and it broke. I wouldn't know how to fix it. Although, now we have the problem of two feeds, one for 3Speak and one for the audio podcast.
It sounds really interesting. Currently your explanation seems pretty much on the technical side of things. To gain more support and understanding, it might help if you explain some more about the user experience - what would the frontend app look like and who would use it. And your grand vision for this. It sounds very promising, just hard to put it together.
Big thanks for the job well done. I know it was not easy to do because it requires technicality and other computer programming languages to code the whole stuff. Did you just do the job alone or where you assisted because for me I won't be able to achieve that alone because it will take me a lot of time and energy. Big thanks again
Any progress on this? I run an Umbrel node & couple of Lightning channels, also Steemit / Hive witness for about 4 years, would be interested to look closer to this.
Cheers!
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I'm working on it! Sats to Hive via keysend payments listening to value enabled podcasts on 3speak is working.
I'm building a bot that will accept a lightning invoice by Hive DM and transfer and pay it returning any excess Hive.
I've got a fair bit more work to do making this reliable but I've proved to myself it can be done.
That's amazing. So, just to make sure I understand:
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