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

[WhyFhy]

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!

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[Chikito]

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]

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.

[hugeblack]

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."

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]

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

[50 Cent]

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?,

[joniboini]

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]

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.

[anu1908]

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.

[asherlock]

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

[WhyFhy]

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!

[50 Cent]

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

same coin as bitcoin, same blockchain

[andrew.shvv]

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.

[joniboini]

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.

[Chikito]

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.

[anu1908]

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.

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.

[andrew.shvv]

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.

[andrew.shvv]

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.

[anu1908]

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.

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]

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.