V4Vapp Updates ongoing funding proposal for the BTC Lightning to Hive bi-directional bridge

in Value 4 Valuelast year (edited)

This proposal expires soon: please consider supporting my new one (222):

Support Proposal 222 on PeakD
Support Proposal 222 with Hivesigner
Support Proposal 222 on Ecency

First of all I used to say I'm not a real developer but I'm changing my stance on that. I once was a proper management consultant, with a side order of project management thrown in, and I did work on large software projects. But I never really worked collaboratively on code.

Which is all an introduction to say that my approach to developing for Hive these past few month started a little less rigorous than it could have been. This all still feels like fun, but with the funds I'm receiving from the DHF, I'm taking it a whole lot more seriously.

2 Million Sats Served!

The next thing to say is that since I turned on the Hive/HBD -> Sats gateway the system has paid over 2,000,000 Sats of lightning invoices! And most of that wasn't just me testing it!

You access this primarily on lnd.v4v.app where you paste a lightning invoice. This process also works with any direct message on Hive to @v4vapp sent by any interface containing a Lightning invoice. More details here.

This is the raw diagnostics I've received from my back end:

    "hive_from": "_total",
    "count": 344,
    "count_success": 167,
    "net_hive": 961.8962265226775,
    "total_sats": 2078751,
    "hours": 6720

Back end tools

Which comes to the first point to do with me being on my own. There's a whole level of back end development and accounting which needs to be improved here. This is turning out to be real money and whilst I'm not losing money, I need a whole lot more dedicated reporting to really track the way this thing works.

This is even more important because the long term goal is to take what I'm running and give the software away so that it is relatively easy to set up. The goal is for there to be a decentralised list of nodes that can perform this Hive to Lighting swap, with an as yet unwritten system on Hive itself being the source of where you can swap.

Going the other way Lightning to Hive and HBD

It's always been my plan to convert Lightning payments or tips into Hive. At present I do this for relatively small payments people send while listening to podcasts on Value 4 Value enabled apps.

But if you want to convert 50,000 sats to Hive or HBD in one go, it's not so easy. I've worked on this a little myself but come to the realisation that it's too much for me to learn efficiently. To that end I got a quote for a suitable system, to be written entirely for open source distribution.

Quote for Lightning to Hive payment gateway

This mini site (a partner site for lnd.v4v.app) will show a QR code, allow you to enter a Hive account name and when you pay the lightning invoice, probably from a phone app, the value will be received as Hive. I'm putting the quote up here for all to see, if anyone on Hive thinks they can do this work or has a comment on the rate, let me know.

At first this will be stand alone, but my idea and my goal is for this to have an API which any Hive front end can call and which will then pop up a "send lightning" button and perhaps pre-fill in the Hive address it will go to.

I'm aware of the history of the stalled out HiveTips project but for many reasons outside of Hive, I'm sure this functionality brings Hive closer to a much bigger user base than a Hive alone system can ever hope to reach.


But also consider the attraction: Lightning to HBD on our properly distributed system with pseudonymous/anonymous accounts and interest on savings. That's a huge deal.

Do we want to charge $3 for a Hive account or more to get an account with a bit of HP to start off? Lightning is an up and coming easy on ramp and this will be the mechanism for all of Hive to accept that.

I know we have tips on Hive, which aren't used a great deal, but this gives a much wider functionality: no account is needed for this. Any Hive user will be able to receive Lightning payments without doing anything and Lightning, partly because of Twitter, Jack Dorsey and Strike in the USA and El Salvador, is fast becoming entrenched for this kind of thing.

I'm full aware that Lightning isn't Bitcoin or even a blockchain system. But for fast, cheap, anonymous small payments it does have a lot going for it. Especially for sending: receiving is easy harder, which is why Hive, where receiving funds is so easy, is such a good match for Lightning.

I know that @threespeak are very keen for this to be built and to add to their front end. I'm hoping it will be so easy to use from a dev and user point of view, that bringing this in is a no brainer which is why I'm going to commission this dev work early in January.

V4V Streaming Sats to Podcasts

This system works. It's pretty darn amazing and I'm really happy with the way in which I've got it working and kept it running.

It isn't getting a large usage yet and that is partly my fault and party a choice. The whole eco-system is very young and I haven't pushed it as hard as I could but that will change in the next few months.

    "hive_accname": "_total",
    "count": 815,
    "total_sats_sent": 138860,
    "total_USD": 66.11402319999996

Personal Stuff and another Proposal

I've pulled right back from my own company here in Israel and have been concentrating almost full time on development and promotion of V4V and @podping (we're working quietly on the "going live" notification for streamers via Podping which I think will be huge).

My current funding request from the DHF expires on 9th of January. That proposal will have paid out 30,600 HBD and my previous Podping one paid out HBD 7,000. I've converted a lot of that into Hive at the time and the Podping amount is almost all staked and being used to provide the Resource Credits that keep Podping running.

I have paid a number of sub-contractors along the way (around 5000 HBD) and I'm set to spend 7000 HBD or so as detailed above on V4V early in the new year.

When I compare the hours that I've put in to this against the hourly rates for developers I hire, I know that I've worked on this at well below market rates most of the time. I am most definitely not complaining because I'm doing what I want to do and the funding and the votes from the community have been a very big part of the encouragement to keep developing new dimensions which I believe will make Hive much more valuable for all of us.

As such I'm going to put in another funding request for 255 HBD per day for another 30,600 HBD 4 months.

One more thing...

I've also written a little bot which takes art for the No Agenda Podcast (which has >1m listeners per week) and posts it to Hive. I'm trying to encourage more of the artists and audience to look at Hive as a new online Home and bring more of a community here. It's just one of those things I like to do and part of my holistic vision to put Hive in prime position supporting podcasting (and yes I'm working with @aureal too)

Support Proposal 201 on PeakD
Support Proposal 201 with Hivesigner
Support Proposal 201 on Ecency

brianoflondon hive footer.png


Dammit! I knew I should've kept with those computer programming classes back in 1989, lol!


I didnt know about that bot. But I'm now subscribed!

You're doing good work with the No Agenda project so I went ahead and supported your proposal.

Great job my friend. You are an example of what the DHF is for. I have no problem with the funding you received and look forward to you getting more.

The projects you created, V4V and Podping are really a great first step for Hive. It is terrific that you are now moving onto the next layer of your vision.

I hope everyone supports your proposals and an anxious to see what else you roll out over the first quarter.

Perhaps it is time for another visit to #CryptoManiacs to full update everyone. We have the 18th open if you want it.

Posted Using LeoFinance Beta

Booked! Lots more to tell everyone.

🙋🏼‍♂️ We all know you don‘t do it for the money BUT a man needs to live of something. Will definitely support you new proposal. Is that online yet, Brian?
🎉 And last but not least: have a good start into the new year. 2022 will be amazing for Hive I think. So many things going live, to be improved etc. 👏🏻📈
Best regards

Thanks for this amazing tools, I have always voted for your proposals Brian. Long life to Podcasting 2.0!

Great work, this is very important stuff! Upvoted 100% and reblogged my friend :)

Supported as well.

Great work!

Wow I am just barely a couple months into hive and the more I learn about this ecosystem the more it begins to amaze me more and more. It is so wonderful to see so many great mind and ideas come together for a shared value.


PIZZA Holders sent $PIZZA tips in this post's comments:
@infinitytcg(2/10) tipped @brianoflondon (x1)

Join us in Discord!

hello, can you explain please how this https://lnd.v4v.app/ work ? How a simple user like me can use it ? Or it's only for developers ?

It's for anyone to use. But you do have to have a lightning wallet to generate the invoice.

More details here: https://peakd.com/podcasting2/@brianoflondon/listening-to-podcasts-while-streaming-sats-with-value-4-value

You are doing the Lord's work Sir @brianoflondon ! Bless you!

I'm aware of the history of the stalled out HiveTips project but for many reasons outside of Hive, I'm sure this functionality brings Hive closer to a much bigger user base than a Hive alone system can ever hope to reach.

And more users = more demand for Hive. Hive will soon reach $5 USD and more. Someone wrote that there will be a point, when Hive will be scarce. Maybe he/she is right.

Happy New Year.

Have a nice day and have a nice weekend. All the best. Greetings and much love from Hungary.

Definitely supporting the proposal!

Proposal supported. You seem to have great vision for hive and put lot of work to make it come to fruition. Thanks for all you do for hive.

This is really awesome, wow am surprised with this.

Good work buddy.. I'll sign up using your referral link on crypto.com

Thanks! I'm very happy with Crypto.com. 👍

Great updates. Thanks for sharing and keep up the great work.

Posted using Dapplr

Lol saw No Agenda, I clicked. In the morning!!!

Very much appreciate your transparency, and definitely supporting your new proposal.

I'm also wondering if the podcasting people show any interest in the upcoming Spk Network and the ability to store and serve podcasts in a decentralized way?

I think their interest in SPK network will come when I can actually show them something. I tried to describe Podping to them but gave up and just built it one morning and showed it a few days later. That was much more impressive than white papers!

~~~ embed:1481104022048325632 twitter metadata:RW5qYXJHYW1lc3x8aHR0cHM6Ly90d2l0dGVyLmNvbS9FbmphckdhbWVzL3N0YXR1cy8xNDgxMTA0MDIyMDQ4MzI1NjMyfA== ~~~
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

I hope you will succeed in this endeavor. And one day Hive will be a good online platform for everyone.

Your content has been voted as a part of Encouragement program. Keep up the good work!

Use Ecency daily to boost your growth on platform!

Support Ecency
Vote for new Proposal
Delegate HP and earn more

Congratulations @brianoflondon! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You distributed more than 91000 upvotes.
Your next target is to reach 92000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Hive Power Up Month - Feedback from day 3
Happy New Year - Feedback from the first Hive Power Up Day of 2022

My understanding of this like an amoeba swimming peacefully with no idea that there is a fish about to eat it. My vote is quite small but you have it for the confusion this post has given me.

That all sounds amazing and I believe the return for the platform will be many times higher than the cost. I might just have to start streaming myself now. You have my support.