Bitlum.io Made LN Easy -Nodeless- No Channel Deposit and Fair Exchange & Wallet

nc50lc

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Quote from: 50 Cent on April 30, 2019, 09:49:05 PM

Quote from: joniboini on April 27, 2019, 09:11:29 PM

2 hours with 6 confirmation? Or 2 hours with 1 confirmation?
Sounds like they use a relatively low to medium fees to transfer your balance. That is not wrong at all, but you might find some trouble if the network suddenly got congested. Can you do an RBF with this wallet?

i don't look at how much confirmation and how it work about fee anything,

You said "Bitlum to Electrum" so it must be 0 confirmation (unconfirmed) since Electrum will instantly recognize the tx as long as the connected server received the txid on its mempool.
And a gap of 2 hours to broadcast the tx is too long since this should be instant if you have full control of the (bitlum) wallet.

So, is it an exchange-like service which implements "transaction batching" to withdrawals;
Does the txid of those two transactions involves multiple outputs or just yours alone?

If it indeed works like that, I don't see any relevance on using LN for those purposes. But it could work as a "reloadable micro-wallet" for small transactions utilizing lightning channels.

Chikito

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Quote from: WhyFhy on April 17, 2019, 07:55:53 PM

Quote from: Chikito on April 17, 2019, 07:46:38 PM

Quote

Bitlum.io has made a chrome extension wallet that is super easy to use

just installed and look easy to use. but, let's me know how to back up my wallet?

Its custodial and beta so dont use large amounts, then again LN isnt meant for large amounts.

I look future here where we can receive and send payment into LN and convert it into on chain only one aplication.
so, we need to safety where back up and 2fa include on bitlum google extention. I am really support for developer and they did hard work for this. thanks for you are for make LN easy to use for newbie

50 Cent

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Quote from: joniboini on April 27, 2019, 09:11:29 PM

2 hours with 6 confirmation? Or 2 hours with 1 confirmation?
Sounds like they use a relatively low to medium fees to transfer your balance. That is not wrong at all, but you might find some trouble if the network suddenly got congested. Can you do an RBF with this wallet?

i don't look at how much confirmation and how it work about fee anything,

Quote from: WhyFhy on April 18, 2019, 06:29:15 AM

Although it's custodial, its a very usefull service and open source .

hey man i did post about how it work bitlum on my local thread
https://bitcointalksearch.org/topic/m.50844959

joniboini

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Quote from: 50 Cent on April 25, 2019, 02:58:35 AM

i used for send on my bitlum to my elcetrum wallet so far i received about 2 hours

2 hours with 6 confirmation? Or 2 hours with 1 confirmation?

Sounds like they use a relatively low to medium fees to transfer your balance. That is not wrong at all, but you might find some trouble if the network suddenly got congested. Can you do an RBF with this wallet?

50 Cent

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i used for send on my bitlum to my elcetrum wallet so far i received about 2 hours

anu1908

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Quote from: andrew.shvv on April 23, 2019, 11:42:51 PM

Written down your feedback, thanks! What exactly is annoying, the badge? Because support itself is not pops up as far as I understand.

it might be a matter of preference. i just don't like to have a new message daily which constantly tells me that if i have trouble i can contact support. it's not a pop-up, you're right.

andrew.shvv

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Quote from: anu1908 on April 23, 2019, 10:30:58 PM

i realize that once in a while there's a new message on the app. i thought it's a bit annoying tbh, i'd prefer to start sending the message if i have trouble instead of being messaged daily about support.

Written down your feedback, thanks! What exactly is annoying, the badge? Because support itself is not pops up as far as I understand.

anu1908

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Quote from: andrew.shvv on April 23, 2019, 02:05:02 AM

Anyway, if you have any issue, ping me in support, I am monitoring bitcointalk every day, and Intercom support every hour, also other team members might give you an answer in support as well. Also we have a Telegram group where you could ask questions https://t.me/joinchat/BXgOFkTC2ybB95xYXvi6qg.

i realize that once in a while there's a new message on the app. i thought it's a bit annoying tbh, i'd prefer to start sending the message if i have trouble instead of being messaged daily about support.

Quote from: andrew.shvv on April 23, 2019, 03:19:20 AM

Yep, balance in wallet reflect overall Bitcoin you have, and you should be able to use it for lightning and on-chain (regular) Bitcoin payments.

how long does it take for you guys to re-balance if somebody requires a transfer to their on-chain address? do you support rbf (can't check it yes as I don't have any funds for testing)?

andrew.shvv

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Quote from: joniboini on April 22, 2019, 09:09:51 PM

Quote from: andrew.shvv on April 22, 2019, 04:37:10 AM

Go to "Pay" page, and there you will see payment field. You could put lightning invoice, or bitcoin address there.

So, as a User you don't need to worry what type of payment you do, just put data in the pay field, and payment method will be detected automatically.

If I only have LN balance, can I do it too?
I thought the addresses for that field is testnet address like what's generated by zap.

Yep, balance in wallet reflect overall Bitcoin you have, and you should be able to use it for lightning and on-chain (regular) Bitcoin payments.

andrew.shvv

newbie

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Merit: 0

Quote from: Chikito on April 23, 2019, 12:17:40 AM

Quote

I wanted to say that you actually could do regular (on-chain) payments right from wallet, without using exchange, also you don't need to have distinct wallet for that.

i got message 'Oops, something went wrong' when to send my LN wallet to my on-chain [segwit], i don't know what happen,
i have 23K sat balance on LN wallet, when i put all of them, not enough balance said. so, i have to pay fee like 12k sat.
then i send 10k sat include fee 12k, they correct to send. when i try to send, i got thet error message.

1. For on-chain payments fee is fixed, so for lower amounts fee might be consider enormously big, better to use LN for small payments.

2. Sorry for that, right now we basically manually re-balance funds from off-chain to on-chain side, closing and opening channels, what happened is that yesterday most of the funds where on off-chain side, so I closed couple of channels today in order to release them, and now you could send on-chain (regular Bitcoin payments) as well. Wallet is in beta, and we don't have proper automation in place yet : / Anyway, if you have any issue, ping me in support, I am monitoring bitcointalk every day, and Intercom support every hour, also other team members might give you an answer in support as well. Also we have a Telegram group where you could ask questions https://t.me/joinchat/BXgOFkTC2ybB95xYXvi6qg.

anu1908

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Quote from: Chikito on April 23, 2019, 12:17:40 AM

i got message 'Oops, something went wrong' when to send my LN wallet to my on-chain [segwit], i don't know what happen,
i have 23K sat balance on LN wallet, when i put all of them, not enough balance said. so, i have to pay fee like 12k sat.
then i send 10k sat include fee 12k, they correct to send. when i try to send, i got thet error message.

looks like this feature needs to be tested. i assume what actually happens is that they'll use their own btc on main net to process your transaction while your ln balance stay on their address, unless i misunderstand how the whole wallet works.

Quote from: asherlock on April 20, 2019, 06:20:28 AM

I still fail to understand if LN and BTC are 2 different coins or not....

ln is another 'road' that can be used by bitcoin. imagine as if there's two kind of road, ln and mainnet (the main chain). in ln transactions doesn't happen via main-net. essentially you just open up a channel with some bitcoin as initial amount and then you can use that amount to trade with other parties via off-chain transactions (happening directly between you and them without requiring confirmation and so on). cmiiw.

Chikito

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Activity: 2366

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Quote

I wanted to say that you actually could do regular (on-chain) payments right from wallet, without using exchange, also you don't need to have distinct wallet for that.

i got message 'Oops, something went wrong' when to send my LN wallet to my on-chain [segwit], i don't know what happen,
i have 23K sat balance on LN wallet, when i put all of them, not enough balance said. so, i have to pay fee like 12k sat.
then i send 10k sat include fee 12k, they correct to send. when i try to send, i got thet error message.

joniboini

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Activity: 2170

Merit: 1789

Quote from: andrew.shvv on April 22, 2019, 04:37:10 AM

Go to "Pay" page, and there you will see payment field. You could put lightning invoice, or bitcoin address there.

So, as a User you don't need to worry what type of payment you do, just put data in the pay field, and payment method will be detected automatically.

If I only have LN balance, can I do it too?
I thought the addresses for that field is testnet address like what's generated by zap.

andrew.shvv

newbie

Activity: 7

Merit: 0

Hey, my name is Andrey, I am working on https://bitlum.io Lightning Network Bitcoin wallet. (https://twitter.com/andrewshvv)

I wanted to say that you actually could do regular (on-chain) payments right from wallet, without using exchange, also you don't need to have distinct wallet for that.

Go to "Pay" page, and there you will see payment field. You could put lightning invoice, or bitcoin address there.
https://i.imgur.com/3QVnJiO.png

So, as a User you don't need to worry what type of payment you do, just put data in the pay field, and payment method will be detected automatically.

50 Cent

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Quote from: asherlock on April 20, 2019, 06:20:28 AM

I still fail to understand if LN and BTC are 2 different coins or not....

same coin as bitcoin, same blockchain

WhyFhy

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Activity: 1438

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Quote from: 50 Cent on April 19, 2019, 07:26:33 PM

i am joined microlancer and earned 1000 satoshi for followed twitter, so i want to transfer to bitlum.io.
after that can i transfer 1000 sat to blockchain address?,

withdraw from microlancer to the bitlum extension then Exchange via ZigZag

LN is not an altcoin it's a child network for Bitcoin it's called off chain transactions basically it's a sub network for Bitcoin to counter high fees and slow transactions LN is still in very early phases #Reckless but it's proven effective!

asherlock

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I still fail to understand if LN and BTC are 2 different coins or not....

anu1908

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Quote from: 50 Cent on April 19, 2019, 10:01:03 PM

got it i found zigzag, but that site have minimum to WD about 28K satoshi. i am good, i have to earn some satoshi and do job at site.
thanks.

that's understandable since withdrawing from the main chain requires fees. maybe get more satoshi first and then exchange later after your campaign is finished.

50 Cent

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Quote

Are you saying that you want to convert your lightning balance to main chain balance?
AFAIK you need to exchange it via another platform like ZigZag. It is not possible to send your LN balance to a classic Bitcoin address directly.

yes that i mean.
got it i found zigzag, but that site have minimum to WD about 28K satoshi. i am good, i have to earn some satoshi and do job at site.
thanks.

joniboini

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Activity: 2170

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Quote from: 50 Cent on April 19, 2019, 07:26:33 PM

i am joined microlancer and earned 1000 satoshi for followed twitter, so i want to transfer to bitlum.io.
after that can i transfer 1000 sat to blockchain address?,

Are you saying that you want to convert your lightning balance to main chain balance?
AFAIK you need to exchange it via another platform like ZigZag. It is not possible to send your LN balance to a classic Bitcoin address directly.

50 Cent

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Activity: 519

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i am joined microlancer and earned 1000 satoshi for followed twitter, so i want to transfer to bitlum.io.
after that can i transfer 1000 sat to blockchain address?,

WhyFhy

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Although it's custodial, its a very usefull service and open source .

hugeblack

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Quote from: Chikito on April 17, 2019, 07:46:38 PM

Quote

Bitlum.io has made a chrome extension wallet that is super easy to use

just installed and look easy to use. but, let's me know how to back up my wallet?

As I understand, you should trust them so you can use this service as both parties must be connected to the network "online."
In other words, you have to trust a third party "maybe this will be removed in the future" and therefore you should try it with the least possible money. "They had gifts of 2500 Satoshi."

Quote from: https://medium.com/bitlum/zigzag-alpha-release-12b7c56e53b2

In this phase the exchange of funds shall require the user to trust us to pass these funds onto the target/destination address. We aim to eliminate this trust in a later phase once the lightning atomic swaps are available (shout out to Conner Fromknecht, Lightning Labs)

WhyFhy

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Quote from: Chikito on April 17, 2019, 07:46:38 PM

Quote

Bitlum.io has made a chrome extension wallet that is super easy to use

just installed and look easy to use. but, let's me know how to back up my wallet?

Its custodial and beta so dont use large amounts, then again LN isnt meant for large amounts.

Chikito

legendary

Activity: 2366

Merit: 2054

Quote

Bitlum.io has made a chrome extension wallet that is super easy to use

just installed and look easy to use. but, let's me know how to back up my wallet?

WhyFhy

hero member

Activity: 1438

Merit: 513

Bitlum.io has made a chrome extension wallet that is super easy to use , you can even use the exchange service they have http://ZigZag.io its low fee's on LN to BTC and even lower fee's on BTC to LN.Pair these with site's like microlancer.io to make BTC on LN and use ZigZag.io's low fee's on LN to BTC and even lower fee's on BTC to LN.

LN has been pretty complicated up to this point , this chrome extension is what LN needed for mass adoption and I think it should have a spotlight shined on it.
The ZigZag exchange makes it that much easier to utilize

Great Job to the team at Bitlum.io and ZigZag Dennis and Andrey have really contributed to LN on a major scale!

Topic: Bitlum.io Made LN Easy -Nodeless- No Channel Deposit and Fair Exchange & Wallet (Read 362 times)