Change to @v4vapp limits and fees

in #hive-1103695 hours ago

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This is a value for value post: see the explanation in the footer.


Max transaction lowered

Over the last few week the price of BTC has sored to new all time highs. At the same time Hive has stagnated at or below 20c. In light of this I've adjusted the maximum payment for Lightning down from 250,000 sats to 150,000 sats.

I want to remind people that this system is still in beta and is undergoing a process where by it can be decentralised. It's not meant to be a trading system, it's meant for paying real Lightning invoices in real stores and other transactional uses.

Fee

I've also increased the fee from 1.5% to 1.7%. I'm never going to recoup what I lost last month being hacked, but I need to make sure I'm not at least loosing on every transaction (which is more likely when the price of BTC jumps the way it has recently).

You can always find the up to date fees here:

https://peakd.com/hive-110369/@v4vapp/hive-to-lightning-gateway-fees


Value for Value

For the last few months while building @v4vapp I was generously supported by the DHF. Going forward I have a much more modest support which covers direct server costs and a little of my time.

If you appreciate the work I do on and around Hive, you can express this directly: upvoting posts on Hive is great. Also consider a direct donation (there's a Tip button on Hive or a Lightning Address) on all my posts.

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Why not make the fees fluid depending on the BTC price to Hive? Or something like that instead of a hard cap?

The fee is a flat 50 sats (which is pretty low deliberately not to hurt smaller transactions) with now a 1.7% charge of the value of the transaction.

Damn, that is pretty low! :D
I have used your service before, but I am just not one who does a lot of transactions xD

I find 1.7% still ok for the service. Do you have already more concrete plans how to decentralize it?

Yes. I'm working on the re-write to make running this service by others possible. It's also combined with shifting the functionality which I call KeepSats over onto @vsc.network which is a very important part of decentralising what I do.

Ok. Thanks for clarifying.

Intente usar la chivo wallet pero no me lo permitio.
Seguire intentando ojala ai SE pueda en algun momento.

Thanks for the update Brian :)

Paying lighting invoices VIA Hive is amazing. !BBH

regular and happy customer here.
1,7% is still good.

@brianoflondon! @ironshield likes your content! so I just sent 1 BBH to your account on behalf of @ironshield. (10/100)

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