After @achim03 posted about how Hive and Bitcoin can complement each other here. It got me thinking to how versatile the Hive ecosystem is in that you can also seamlessly stack sats on Hive very easily and cheaply too.
Since then I have been stacking a few Sats each day and have so far accumulated 0,00039920. This isn't too much so far, but over time it could build up nicely.
The great thing about the Hive Engine, is that it is a handy wallet that you can store a multitude of tokens in and I know Bitcoiners would say that Swap.BTC is not really Sats, but they can also be converted here to sats quickly and quite cheaply.
Not only that, this allows you to send Sats to others within Hive for free and take advantage of the fast 3 second confirmation speed of the Hive blockchain.
If you want, you can withdraw Swap.BTC directly on chain, but another option is to use the great bridge created by BrianofLondon to withdraw or pay in Sats using your Lightning Wallet.
Here after stacking some Swap.BTC, I could swap it back to Hive and then convert directly to Sats in my Lightning wallet for a small fee. This can be also good if you want to move some Sats from Lightning and store them on Hive and then convert the Hive back to Swap.BTC on Hive.
You can easily set it up so that anyone can pay you an invoice in Sats that would go directly to your Hive wallet too.
The great thing about stacking Sats with Hive is also that you can store larger amounts too and they are kept in your own control. With the implementation of Lightning Node by Binance, you can also now seemlessly withdraw Sats from Binance to your Lightning account and then to your Hive account.
This is easily done by selecting withdraw crypto in Binance and then selecting the Lightning as network. Here I just copied my receive address from within the v4v app.
With the Sats sent in Alby, I could then see them arrive on my Hive account instantly.
This great seemless integration of Hive with Bitcoin through Swap.BTC and Lightning allows us great flexibility to stack Sats on Hive and have the best of both worlds.
Do you stack Sats on Hive?
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I didn't even thing about the v4v bridge but it's totally true and allows even smaller withdrawals than with hive-engine. Thanks for the mention!
Thanks for the heads up about swap BTC and diesel pools.
I've been trying it out too, I really like it so far. It's really nice to be able to receive Sats on Hive and it's definitely fast!
Yeah, it is great to have this fast interportability. It is something I am using more and more.
wow that's all thought you had like 1BTC hanging around :P
just a test run init! :D
oh means u have 1btc lying elsewhere
Yes, I recently started to swap some shitcoins on the HE to swap.BTC!
If Bitcoin dominance will go down, this might not be so good. But if everything goes to 0 against Bitcoin, then it should be good. Im confused what will happen tbh. 😅
I remember Brainoflondon talking about the efficiency of lightening network and how it has proven to be necessary and creates the availability of more options. Keep accumulating, I think these things adds up with time
Thanks, it is a great tool that can give us more flexibility down the road.
This is really an amazing upgradation in hive.
Thanks, it is a great thing.
Thanks a bunch for sharing mate. I'm yet to try the lightning network, but this looks interesting indeed!
It's for sure worth to check out.
I have heard and read posts about the lightning wallet but never used. The swap version of very other crypto currencies on Hive is really very nice. I have some BCH which I earned form the BCH social app on past. During the setup process I used the BCH address form the hive-engine so all me earnings are on hive-engine and I can convert them to hive any time.
Thats really useful. I was also gathering all my BCH earnings and using the Blocktrades conversion feature too. It was very handy at the time.
Great idea, BTC is the king and personally I think it is a way to stack sats. I like this and my replace my hive savings with swap.btc savings so tospeak.
thanks for this Steve
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Thanks Ed, it can act as a good hedge in case everything goes to 0 against Bitcoin. 👍
this is an interesting and useful article! Thanks
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Hive is truly versatile. I got lost somewhere along the process but I'll read it again to understand it better. The ability to stack sats on Hive via Hive engine is a great option to have.
It really is a great eco-system that doesnt exist on any other chain. I am looking forward to seeing it keep growing from here.
i have read a lot of post about this lightning wallet but havent really cheked it out. is it safe? is it still under hive engine?
Well it's not in HE or as safe as Hive imo, but it seems pretty safe to use so far.
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Thanks man. I hope you like your Beetcoin.
On which blockchain does that Beetcoin exist? 🤔😅
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I am managing my friends Hive account and I picked up some SWAP.BTC on that account. My fear is that there isn't much liquidity with those two pairs. I don't want to move it to SWAP.BTC and then be stuck and not able to get it out. The methods you pointed out here look like they would work. I used a service to move BTC directly to Hive, it seemed to work quite well. It was that v4v app.
Yes if the liquidity dries up, you can withdraw it, but I think the limit is quite high. There is also a diesel pool with hive/swap.btc, but I didn't use it yet.
Gotcha. Have you found the price of SWAP.BTC is very far off from the price of BTC on coingecko?
I think it tracks it quite accurately. I think there are some people market making the price. Plus you have the diesel pool.
Okay, thanks!
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