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Transfer LN back to BTC walket

Open SkyperTHC opened this issue 4 years ago • 10 comments

Playing around I topped up my LN wallet from my main wallet. It was an easy 1-click.

How do I now transfer back my balance from my LN wallet to my main wallet?

There is the “withdraw” option via zigzag (ulg!). It’s limited to 0.04BTC and when clicking “want to transfer more?” then an error appears “zigzag is back later”.

It seems to be far more steps required to transfer back from LN to main wallet and this stinks like a trap/scam. Further sign up with another third party company (zigzag) is required just to get my money back. Should be as easy to get my BTC out of the LN wallet as it was to put my BTC into the LN wallet.

There is no obvious button to just close the LN channel either.

Let me play a customer here: I want my money back. I don’t want to sign up with zigzag or wait until their servers are working or deal with zigzag being offline.

SkyperTHC avatar Sep 23 '19 07:09 SkyperTHC

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issue-label-bot[bot] avatar Sep 23 '19 07:09 issue-label-bot[bot]

Hi there,

You don’t have a channel, only a wallet, you are using bluewallet node shared channels. So you can’t close them, the only way to get funds back onchain is to use a swap/exchange service. You can try fixedfloat.com, boltz.exchange, zigzag.io or any other product that provides this service.

ncoelho avatar Sep 23 '19 11:09 ncoelho

I believe you should have made the customer aware of this. It's super easy to transfer funds from the main wallet to the LN wallet but complicated and requires sign up with third party companies and disclosing private information to get my funds back. Not acceptable. A consumer would think this is fraudulent. The reason you get away with it at the moment is because it's a geeky tool by geeks for geeks.

Nevertheless this should be fixed. The app should not allow to transfer funds from the main wallet to the LN wallet unless a way is set up/configured and working to also transfer the funds back from the LN wallet to the main wallet.

As I said earlier: ZigZag refused service ("Come back later") and the others you mentioned require disclosure of personal information. None of the ways you suggested is an adequate solution.

Considering that you did not warn me about this before I transferred the fund I feel that I have been tricked.

My putting on my consumer hat: I want my money back. Without having to register with a third party company or disclose more of my private information.

SkyperTHC avatar Sep 23 '19 17:09 SkyperTHC

ohh, the reason I think that you should fixe this: The consumers will burn you for it by giving you 0-star ratings. I like your project to be successful. Most tool fail to cross the chasm between geeky tool and consumer application. I hope your tool will make it.

SkyperTHC avatar Sep 23 '19 17:09 SkyperTHC

Eventually we will get there, we can't build everything at the same time, this is a free an open source project done by volunteers. We are aware that it is not easy at the moment, and we do plan to make easier in the future.

I don't believe these services requires you to setup accounts or give away personal information.

ncoelho avatar Sep 23 '19 17:09 ncoelho

I agree with the OP.

I understand that this app, like lightning itself, is just a toy (with enormous potential) for now.

I was surprised to see that I could not easily repatriate my funds from lightning back to BTC. It was not obvious to me that this would be the case and I think a warning would be a good idea.

For the avoidance of doubt, I am very pleased with this free app and the amount of money in question doesn't matter to me, but it's easily possible to see a naive user being enraged by this situation.

strowger avatar Oct 16 '19 08:10 strowger

Hello, I'm also mention bluewallet to people I know because it's easy to use. Lately one of them ask me exactly this👆 and I couldn't answer it. I run my own node so I could do it for him but an integrated option would be very nice.

I think bluewallet has the potential to get people in touch with btc and lnd without any hassle, but it requires the option to send sats to your on-chain wallet.

Thank you for your time and your skil to put this all together.

Haasie avatar Jul 27 '20 14:07 Haasie

Perhaps as a first step Bluewallet can link the exchange button to boltz.exchange instead of zigzag.io

Zigzag.io doesn't support bech32 addresses.

Bluewallet uses bech32 by default.

So new users are lead to a dead end path.

The quickest short fix is to switch to boltz.exchange

pointbiz avatar May 18 '21 18:05 pointbiz

Now it should be easy to send ln-sats and get a tx on-chain back, from a user perspective (a market maker for buying ln-sats locally with fiat or on-chain or selling would be better), to develop could be fun but acting "bean-counter" in running operations not so fun for developers.

There are problems outside of development that has a more of "biz of biz" and running a company therefore making it unsexy for developers to initiate and handhold.

The initial has to be somebody willing to operate such a service as market and need upfront liquidity to do so.

I know b2l2b.com was looking at it and are still in back-burner process finding the right mix of ppl make it happen.

lndhub-admin avatar Aug 02 '21 10:08 lndhub-admin

maybe some body would like to rewrite this code to do on.chain for ln-sats instead as of now it do fiat to ln-sats via TG bot

https://github.com/grunch/p2plnbot

lndhub-admin avatar Aug 18 '21 02:08 lndhub-admin