Lightning vs BCH
The lightning network may be a fast and cheap way to spend your BTC but the lightning network has some major flaws in my view and many security risks in that all transactions require you to trust multiple 3rd parties to open payment channels in order to use the network.
If you want to send your lightning BTC, on the blockchain to a secure wallet you will also be likely to incur a high transaction fee.
For those of you out there that would prefer to hold BCH instead here is a simple solution I have found to convert your Lightning BTC to BCH for a very small fee.
The online exchange 'FixedFloat' offers instant exchange from Lightning BTC to BCH. I have pasted a link to the exchange below as well as a screenshot of the website.
https://fixedfloat.com https://fixedfloat.com/en/
**Screenshot of FixedFloat Exchange**
The site is called 'FixedFloat' because it offers a 'Fixed' rate of exchange with a 1% fee or a 'Floating' variable exchange rate for a 0.5% fee.
Simply select the amount of Lightning BTC you wish to send and also input your BCH address in the destination box and fixed float will create an invoice for you to send your Lightning BTC to and the exchange then takes place instantly.
The site requires no KYC although you can create an account if you wish to keep a record of your transactions which might be helpful.
I believe in the future of Bitcoin Cash and would much rather keep my crypto as BCH instead of Lightning BTC. I personally use the BCH wallet provided by bitcoin.com which is non custodial meaning you hold you your own private keys. True financial sovereignty, which is the whole purpose of why crypto was created in the first place!
Below is a link to the Bitcoin.com wallet which you can use on android or ios
https://wallet.bitcoin.com/
You can keep your crypto on an regulated exchange if you wish, but then you give up your financial sovereignty and trust a 3rd party to look after your funds. It's not much different from holding your money in a bank!
Centralized Exchanges are facing more and more regulatory pressures, holding your own private keys means the crypto belongs to you only, just keep your private keys safe!
For reference I have posted a link to video about keeping your private keys safe below.
https://www.youtube.com/watch?v=n7kXtVsFGss
If you want to earn a little Lightning BTC to get started take a look at ZBD wallet there are many way you can earn a little Lightning BTC from the many games and apps which integrate with this Lightning wallet.
Here's the link to ZBD wallet below, check it out, it won't take you long to earn enough to trade it for some BCH.
https://zbd.gg/
I hope you have enjoyed my article, you can check out some more of my articles here if you wish. 😊
https://read.cash/@onlymythoughts
Article is my own original content, lead image courtesy of Pixabay.
Our for a walk on a windy day in the UK.
Saving on my heating bill at Cafe Nero ☕ some nice chilled out music playing too 🥰
Snowy morning walk, I think it looks so pretty but my hands are frozen 🥶
So cold this morning -6°c! This frozen spider web I thought looked so pretty on my garden gate 🥶
I like the look and feel of this new app, very smooth and polished. Imported all my posts now. 😊
This should make the platform easier to use and I think there is a direct messaging feature built in too.
Credit to the developers! Good Job 👍👍
Find me over on the new noise.app I have imported my account so my username is the same.
A fresh new look to the app, well done to the team, hope this takes off.
Question to Noise team: will all my previous posts be imported? seems I have to start over again?
Does anyone have any experience or can tell me a bit about how the migration to the app will work?
Winter has arrived, its freezing cold over here in the UK, down to minus 5°c last night but I am afraid to put the heating on as its so expensive at the moment. I am wearing a big thick jumper instead.
Just sharing a couple of pics from my short break up in Shropshire back in October.
So I have successfully imported my Noise Cash account.
Just curious where all my previous posts are, or is this all new and fresh.
Hope that this app takes off and is succesful!
Been out for a bit of a hike up this hill today, a bit blustery and cooler than yesterday but at least not raining. Great views from the summit and spotted a couple of mushrooms too. I don't think I will try eating them. 🍂🍁🍂
These pretty flowers are looking stunning this Autumn. 🍁🍂🍂
Hows your day? I have been away from here for a while but am back to share a few pictures with you to brighten your day. 😊
Whats going on in the crypto markets!! Seems pretty flat!!
BCH is a bargin right now I reckon!! A coin with so much potential!!
The beautiful colours of the leaves in Autumn
a lovely day today, so mild for the time of year!! Hows the weather where you are? 🍁🍁🍂🍂
A mild autumn day 15°c, perfect for a stroll along the river this afternoon.
Turning autumnal over here, 16°c today and its just started to rain so I am heading home, heres a flower to brighten your day and bring some cheer. 🌼😊
Sitting on a bench, at peace with my thoughts, autumn is here but its a fine day 17°c these flowers are still looking pretty too. 🌷😊
Sanctions come back to bite the west
5th Sept 2022
Just as the UK and Europe seemed to be emerging from one crisis the Covid-19 pandemic. Along comes another that threatens to affect the health of people much more than Covid-19 ever did.
In the UK and Europe colossal sums of money were thrown at suppresing the spread of the virus and supporting businesses to stay afloat with loans and help with the furlough scheme for which, here in the UK people were paid 80% of their salary to 'stay at home, protect the nhs, save lives' that was the govenments catchphrase.
The UK govenment borrowed record sums, a total of £303bn in the first full financial year of the crisis alone. This amount is double the previous record of £158bn which was set during the financial crisis of 2007/2008.
Output slumped, tax receipts decreased and the government engaged in a policy of 'quantitive easing' which is basically printing money, which of course has the effect of making it less valuable and fueling inflation, we should have seen this coming, the ecconomic hardship caused by this policy could cost more lives than the Covid-19 pandemic itself.
Only last year the govenment were saying that high inflation was only going to be temporary before returning to normal. I think high inflation is going to be around for some time yet!
At the very time that the west was at its weakest ecconomically, Vladimir Putin decided to invade Ukraine. For years Putin has been warning the west of the concequnces of expanding Nato right up to the Russian border and calculated that this would be the best opportunity he would have to make a pre-emptive strike against Ukraine before it ever had the chance to join Nato.
Of course the west has responded with hard hitting sanctions against Russia which will be painful for Putins regime, however Putin has a way in which he can fight back by weaponizing the supply of gas.
Last year, Russia supplied 40 percent of the gas uses by the EU. Russia has reduced the flow through main Nord Stream 1 pipeline to just 20 percent of its capacity and which has made it difficult for Europe to build up supplies ahead of winter.
The price of fuel has already increased by more than 80% in recent months and is set to go even higher next year.
When sanctions were first imposed on Russia the value of the ruble fell dramatically. On March 9th of this year $1 USD would have bought as much as RUB 138, but today $1 will only buy around RUB 60, in fact the Ruble now is stronger than it was before the sanctions were imposed, it has seen a rapid recovery in its value.
Meanwhile the UK and Europe are feeling the effects of the sanctions imposed on Russia, due to the way in which Russia has responded. Inflation is rocketing, people are suffering due to the high cost of fuel and this is only set to become worse over the winter.
We are dependant on Russian gas and I wonder how long that people here in the west will stand for all the money being spent on suppling Ukraine with weapons to fight the russians. Talk of re-taking Crimea from Russia is delusional, Putin will not be backing down. How long will Ukraine be able to rely on the help of the west? When people in the UK and Europe don't have enough money to heat their homes or put food on the table, how will they feel about spending billions on supplying Ukraine with weapons.
Its an awful situation, of course I feel for those in Ukraine who have had to flee their homes or lost loved ones in the conflict.
War is an awful thing, who knows where this will end up. The nuclear threat is ever present too, lets hope that it never comes to a nuclear war but if Putin feels that his regime is under threat who knows!
All we can do is hope and pray for peace, and maybe talking is better than fighting!
Maybe it is time to be pragmatic, I wonder if you have any views about this, let me know in the comments below.
Article is my own.
Pictures courtesy of Pixabay
If you enjoyed reading this you can find some of my other articles here.
https://read.cash/@onlymythoughts
Enjoying a coffee in town outside in the cafe garden, it's nice and dry now but rained heavily last night these flowers look pretty with the raindrops on them. 🌷😊❤️
Autumn is in the air, a cool breeze today and partly cloudy on the last day of August. 20°c today and perfect for a walk in the park. 😊
A day off today so a walk to the park, some flowers still in bloom here, autumn is in the air, soon the leaves will be falling 🍁🍁
After all that dry weather we had a big thunderstorm last night, its been raining all morning here too. Just brightened up enough now to head out for a bit of a walk and capture a few pics of some flowers with raindrops on them. 😊🌷🌱
In the middle of another heatwave here in the UK forecast 33°c and 35°c tomorrow, I got out for a bit of a walk yesterday by the river which was nice. 😊
Final mountain climb of our holiday, into the clouds on the way to the summit of 'Skiddaw' in the lake district. Resting up today and heading home tomorrow. 😊
Had and evening walk by Derwentwater in the Lake District yesterday, such a peaceful and idylic place, the perfect end to the day. 😊
A few pictures from todays adventure, climbed Scafell Pikes, the highest mountain in the UK, very windy at the Summit.
Just wanted to share a few picture I took yesterday evening out in the english countryside, its been a very dry and warm summer this year.
Lovely evening for a walk along the river, nice cool breeze, the sound of running water, so peaceful. 🌱🌷🌼
Send some of my BCH to 'Cake DeFi' yesterday and used it for 'Liquidity Mining' I only know a little about DeFi to be honest 30.24% APR, I thought it was worth a try, I have been reading up on 'DFI' seems the rewards are paid in this token which is tradable on Binance and KuCoin. So hopefully I can convert my rewards back to BCH.
I have only tried a small amount as DeFi is all new to me, but I like learning about it. 😊
This mornings sky, interesting looking clouds, really warm again today, hows the weather where you are? 🏝️🌷😊
Nice cool evening here in the UK, quite nice after the extreme 40°c heat on Tuesday, just wanted to share this pretty flower pic with you. 😊
I had a short trip down to dorset last week on the south coast, some perfect weather and beautiful scenery too, shame I had to come home.
@onlymythoughts
