Local Lightning

Buy/Sell Bitcoin locally via the Lightning Network

Local Lightning is a discovery service that allows buyers/sellers of Bitcoin to find each other locally. We encourage users to interact with each other via the 2nd layer Lightning Network, offering instant settlement and full control over their own Bitcoin.
Discussion
Would you recommend this product?
1 Review5.0/5
Hello all! I created Local Lightning as a result of a Lightning-specific Hackathon about a month ago. The idea of it is to be similar to localbitcoins.com except to be a more decentralized and hands off version of that. The concept is that users can meet in person to sell/buy Bitcoin with FIAT currencies, cash in hand. By interacting via the 2nd layer of bitcoin, the Lightning Network, this offers instant settlements of Bitcoin without the need to wait 10+ minutes for single confirmations, and without waiting for the 6 full confirmations needed to truly trust that a transaction is secure. Since Lightning allows instant settlements, this allows both the buyer & seller to walk away as soon as cash is in hand and the transaction goes through. So, unlike Local Bitcoins, there is no need to hold the transaction in escrow, and because of that, Local Lightning is not considered a payment processor and does not need to KYC (verify identity of customers) in order to allow users on the platform. Most of the data is user-owned (via the power of using Blockstack as the underlying data layer), so the hope is to provide a peer to peer interaction with as little middlemen as possible. To read more about building the product during the Hackathon, read up here: https://wiki.ion.radar.tech/even... Github: https://github.com/AnthonyRonnin... Twitter: https://twitter.com/locallightning
What’s the whole transaction process? Do I need to meet sellers if I want to buy bitcoins?@cycryptr

When I first heard about Local Lightning, I knew it had value. There are so many reasons (good and bad) to exchange fiat for bitcoin in-person. I believe Local Lightning's good use cases can far outweigh the bad and can help people who need instant access to bitcoin solve problems that just couldn't be solved before.

Pros:

Instant settlement, non-custodial, and fun to use.

Cons:

None. It's straight forward and provides a simple way for in-person exchanges to happen.

Thank you for the review Justin!
How to identify every post is real? I tried this site, seems every user can post , the email feature cannot work currently.If someones post spams, how to stop him?
@blockstack_yummy Sorry I missed the notification for this message. Right now, no way to identify every post is real, similar to how craigslist and other posting/forums sites are. Eventually, I want to add the ability to review users but even then, that doesn't stop bad posters, no review system exists that prevents spam. The email feature should work, if the user has posted their email in the system, maybe it's a bug that I don't check that first before showing the button. As far as spam goes, right now it's not a problem. When I originally launched, I had it require that you pay a lightning microtransaction in order to post. For usability reasons, I've gotten rid of that requirement for now. However as it gets some use and I think it needs some extra validation, I will consider adding it back. Very good questions though, I appreciate you commenting.
@cycryptr Great job, Lighting may gets much more popular in users. Is this transaction process can be like localbitcoins.com and otcbtc.com? You can set an official escrow wallet address, if some bitcoin sellers wanna sell bitcoin, they have to transfer same bitcoins into this official address for escrow and post the with locations and . When one buyer see this post on Local Lightning and decide to buy it , He would send dollars or EU to Local Lightning official wallet, after you receive the money, you can notify this seller release the bitcoins to this buyer. After buyer receive the right amount bitcoins , you can send right dollars to this seller's account. it's like alipay process. localbitcoins.com ,otcbtc.com, aliexpress.com and taboo.com all use this method to secure transaction process. Would you like Local Lightning and your another blockstack app use this transaction process.If you wanna do this , I have help you on the Chinese language translation and some front-end programming.
@blockstack_yummy That is a tough decision that I had to make, and continue to make. Right now, I am deciding against having electronic purchases made with FIAT. For 1, escrow is a HUGE reason against going to any system like that. I will not hold on to user funds and I doubt I ever will, so many problems with that from being a MSB to needing to KYC. For 2, it defeats the purpose of instant settlement. If I need to wait until a certain amount of days to verify a wire transfer, check, etc. that can be reversed, then users might as well use Local Bitcoin and skip the whole lightning process. The last thing I want is a user to get burned because they accepted paypal, sent their lightning transaction, and then paypal reversed the payment. The benefit of Local Lightning is instant settlement all around (Lightning is instant, and cash in hand is instant) and always being in control of your own funds. The con to Local Lightning is cash meetups only. I feel, with the other services/competitors out there, this is an appropriate trade off that has a unique selling point. Great conversations though, and I am always open to having help on the translations/frontend part if you're interested :) just let me know! I can open up a branch for Chinese translations and get the files ready.
@cycryptr I really don't wanna waste time on the road to meet someones. At least two hours on the road even in the same city. You must find a convenient way to fix the escrow issue to secure the transaction process .
@blockstack_yummy Sorry, this must not be for you then.