Who wants a bidirectional bridge from Lightning Sats to and from Hi...

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!

brianoflondon hive footer.png

Who wants a bidirectional bridge from Lightning Sats to and from Hive or HBD and back?

Another Proposal?