Success!! First sending of Hive to a Salvadoran BTC « Chivo » wallet!

in LeoFinance3 months ago

Dear Hivers and dear LeoFinancers,

« HiveLightning », the app that @brianoflondon has coded to be a bridge between Hive and BTC as a daily currency, DOES WORK here, for the 3 million and a half Salvadorans who’re using the « Chivo » Lightning Network wallet !!

Transferring 1.8 Hive from a wallet to another is completely trivial and unsignificant for most of us, but you can’t imagine the neverending smile on my face since I’ve seen the Chivo notification show up on my mobile phone screen, some minutes ago !

First BTC received from Hive to Chivo.jpg

We’ve been using the Hive comments as our collaborative tool for the last few days, with @brianoflondon, to check if there would be any hurdle in the sending of Hive or HBD to a wallet that belongs to the LN ecosystem, but isn’t as open as most other LN wallets, and is strictly custodial. And YES, it does accept the transfer of the monetary wealth created in this awesome decentralized platform, to the BTC wallets that we’re now millions to carry in our pocket.

This innovation makes even more feasible and promising the onboarding to Hive of Salvadoran citizens, and I’ve been talking with some of them in that direction.

My gratitude goes to all the Hivers who’ve been supporting this incipient connection with El Salvador, and in particular, of course, to whom have facilitated my discovery of « HiveLightning », @apshamilton and @brianoflondon.

The next steps that come to mind are now : a) allowing all Lightning Network and Chivo users to send sats to Hive (I know Brian is working on that) and b) continuing to inform our Salvadoran neighbours about the use of other LN wallets, more empowering ones than « Chivo » (I’ll tackle this in a coming post).

¡MILES DE GRACIAS, HIVE, POR EL INMENSO POTENCIAL QUE TENEMOS AHORA EN LAS MANOS!

Posted Using LeoFinance Beta

Sort:  

Are you kidding me? This is amazing!

Posted Using LeoFinance Beta

Yeeees, it is! I'm beginning to imagine all the implementations that could be developed, from any Hive based dApp to all LN wallets around the world, and the other way around 😃.

This is what crypto was meant to be, free people all over the world having permissionless value exchanges. That's hope man, it's great!

100%! Let's see how many other nations adopt BTC or another autonomous crypto as means of payment, before several big States impose their totalitarian CBDC's.

And if no other country does accept a second crypto as legal tenant currency, we'll receive here the cryptorefugees / freedom fighters 😊.

Thanks for detailing this. It is excellent news and something that all on Hive should be excited about. We are seeing the tentacles of this system expanding greatly.

Posted Using LeoFinance Beta

Exactly, as benevolent tentacles 😃.

I'd be tempted to speak of the "cHIVE LN wallet", from now on, lol, instead of the "Chivo" one - or to use the "Chivo cHIVE" acronym, for "Chivo billetera + Comunidad Hive" ("Chivo wallet + integrated Hive Community")

What would you think, @brianoflondon ?

The more I think about it, the more I envision a kind of "package" that could be powerfully attractive to potential other States interested in freeing themselves from the fiat Ponzi trap: the LN monetary tools + integration with a really descentralized social platform (Hive), that no partisan Whales could control (see the TUGAFAM's grip on what's "true" and what's not, in the US).

Do you use Telegram?

I do have a question: was this invoice time limited? Did you have to do something special to make it work?

Loading...

Heeey bro! I hope I'll have enough RC for this answer to pass through, lol.

I suppose that it was time limited (just like the previous one, that failed), but this time I reduced the operation length to around 90 seconds. Another Chivo user told me that in his experience the invoice time in that app is around 5 minutes, which would be very good news.

I've looked and it is set to 300s or 5mins which should be plenty of time. Twitter has it set to 57s which is ridiculous.

Awesome! In Twitter's case, just give a call to Jack, he'll understand 😄.

I'm so happy you got this to work!!! I think it's a very big deal.

I'll write more about this later.

Yeeees! Waiting for your next fulgurations 😊.

Do you know if the Hive algorithms penalize the fact of translating our own posts, and publishing them as separate posts? I'd like to update the Spanish-speaking Hivers about all this.

There isn't an algorithm... There's community votes and I'll do my best to make sure you get rewarded for translation into Spanish. 😃

I also want your help to make sure all that I'm doing is accessible in Spanish!

For sure!!

What I Hive in mind (lol) are the bots that existed in Steemit, and could have tagged an account for posting translations as separate publications - I came to think that, after seeing that many Venezuelan Hivers, for instance, use to publish bilingual posts from the start, with the Spanish original text in the left column and an English translation on the right side.

But it's marvelous if there's no prohibition of that kind 😊.

Awesome! What are the fees? And how long did it take for the transferred Hive to show up in your wallet?

I have a flat fee of 50 sats and 0.5% at the moment. I'm really trying to keep the fees low.

Transactions should take around a minute at most and I send back a confirmation as a Hive transfer. By the time you get that your lightning wallet should report the Lightning as paid.

5EF2E54F0BEE4837AC6998F85AE4A41F.jpeg

Posted Using LeoFinance Beta

Could that fees structure change (up or down) if the transactions flow per day increases a lot?

And @borislavzlatanov , yes, I think it lasted around 45 seconds at most for me to receive on the phone the transaction notification.

Heellooo @amatom, and nice to Hive you ! :-)

Exactly, step by step ! An element that gives me hope is that we’re dealing here with the use of BTC as a currency for our daily purchases, so even if the Tether bubble explodes and brings the BTC price to the ground, it’ll not affect much our relation to that currency.

I am sure it will find its supported energy sources! 😉

Do you refer to the volcanos' based BTC mining that's taking place here, or is it in a figurative sense? 😊

haha 😄 ...💯 impressed 👏

This is epic!

Posted Using LeoFinance Beta

Absolutely, @joetunex ! Above all if this way we succeed in onboarding on Hive, step by step, a couple of thousands users of TUGAFAM platforms who don't know anything about decentralized rewarding social networks 🙃.

I'm so please you've got this to work.

I really think this can be transformation.

Do think so too!

The following step is to invite more LN users to discover Hive. In the LN Telegram group I've launched, several latin american BTC and Ethereum experts hadn't even heard of Hive (till now 🙃).



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.

Great, @taskmaster4450le !

I've just linked my Hive account with the hiveposh.com app.

This is great news! HIVE is already one of the most decentralized blockchains in existence and adding in a large Salvadoran contingent will only expand that further. Even though the Lightning Network's transactions are much faster and cheaper than regular Bitcoin, they still can't beat FREE. Awesome work! Keep building it brick by brick!

Posted Using LeoFinance Beta

Agreed, dagger! I'm gonna see how to insert a brief Hive "how to" for beginners, in the instances where I explain to fellow Salvadorans how to use a LN wallet.

It's a drop by drop process, thus a slow one, but an effective one.

This changes everything! Well done!

Thanks a lot, @ddrfr33k ! And yes, it opens up a whole field of cooperations and cross-chains ecosystems mutual support 🙃.

Exciting times ahead!!

👍🏻 Great! This is certainly a big cost saver if you want to sent Coins/Dollar to family or friends from abroad to El Salvador. Even with small amounts.
Do you know how much the cost saving is exactly?

👏🏻 And thanks to @brianoflondon, another great tool developed to make the Hive Blockchain more attractive!
Regards from Germany 🇩🇪
Thomas

Very cool, hope other apps on hive can implement this bridge as well, would be very useful to transfer HIVE to LN and vice versa.

True, vikisecrets! Which dApps are you thinking about, as a priority? We then could talk with their devs, to implement that functionality.

Thanks a lot for the support! 😃

Would like to see it integrated into the @peakd wallet or @splinterlands would be awesome to buy cards with Lightning.

I'm slowly working on the infrastructure and code I need to accept lightning payments directly for Hive. It's a bit more complicated than what I have now.

Posted Using LeoFinance Beta

Are you going to let other Hive users that have LN nodes join your project in the future to help with some liquidity??

This is amazing

My long term goal is to allow others to help out with running the swap infrastructure and to decentralize it. I don't think it can be made completely trustless but what I envisage is that multiple providers means that the faithfulness of each one can be checked.

If you want to open a channel to me, let me know. This is my main node: https://1ml.com/node/0396693dee59afd67f178af392990d907d3a9679fa7ce00e806b8e373ff6b70bd8

Awesome. I understand.
I will open a channel when I get my new node up and running. Will let you know :)

got my new lightning/btc nodes up and running.
What size channel do you need?

Would love to help provide some liquidity to your Hive/Btc/Podcasting project :)

Sure, please feel free to open a channel to me, 500k and up preferably but I won't say no to anything really. I think 500k to 1m Sats is probably the sweet spot and it nearly always works with a fee of 1 sat/vB so it's really cheap.

My node ID for open a channel to:

039[email protected]llzxzwuzhrmr4hei5b5rcyqsvffman3wjaa37e44de7cjls44cphc5ad.onion:9735

You can find my name on Amboss

Splendid suggestions! I don't play @splinterlands yet, but shall propose to @juxta, from @risingstargame , to integrate such a LN payment 😙.

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

You received more than 2500 upvotes.
Your next target is to reach 2750 upvotes.
You got more than 400 replies.
Your next target is to reach 500 replies.

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

I live in Colombia, but I was thinking of making a spanish guide of how to use this bridge to store HBD, the easiest stable coin to access from the lightning network!

It will take me a pair of days, but I will tag you in it, hope it can be useful to you!

I have been dreaming about a Hive-BTC off ramp on Lightning Network for months. @brianoflondon is my new favorite entrepreneur on Hive.

Posted Using LeoFinance Beta

Yes, he's a force of Nature & Code (must be a Fibonacci offspring) 😊.

I see you do live in Mexico, Brett. Are you involved in local/national cryptonetworks, where a certain percentage of participants use LN wallets?