Learn more about Bitcoin and Lightning
Dear Flitz customers, It is with a heavy heart that I stand before you today to announce the end of the Flitz platform. I know most of you will be quite disappointed in hearing this, because over the last couple of months I have received an overwhelmingly positive feedback on Twitter. I hope that you will all understand after reading this post. Background I discovered bitcoin and the Lightning Network in 2017.Read More
Dear Flitz customers, It is with a heavy heart that I stand before you today to announce the end of the Flitz platform. I know most of you will be quite disappointed in hearing this, because over the last couple of months I have received an overwhelmingly positive feedback on Twitter. I hope that you will all understand after reading this post. Background I discovered bitcoin and the Lightning Network in 2017.
On the first of July 2021, Flitz was announced, the very first European Lightning-native buy-bitcoin platform. One month has passed and we would like to share some interesting statistics with you. Users and Revenue 200+ users 11 Countries 🇩🇪 leading the way: most users are from Germany 15.000+ EUR converted into Bitcoin and deposited straight into Lightning wallets 🐳 Largest payment was 1000 EUR. Lightning Our C-Lightning node has
The scalability problem Bitcoin can only work because all participants in the network (not just miners but also economic actors) can independently verify that every transaction that has happened since 2009 happened correctly. Everyone can verify the total supply of Bitcoin, and verify that what they have in their wallet actually belongs to them and only to them. This is extremely important because if we were to compromise on this feature, we would allow trust to be reintroduced into the system, making everything just a bad clone of already existing financial institutions.
What is it The main thing to understand about Bitcoin is that it has both properties of a physical thing and digital information. This means that you can own it in the same way that you own your physical possessions. It could even be argued that ownership is even stronger in the case of BTC, as the private key (under the form of 12 or 24 secrets words) can be stored inside your head.
Flitz is a Lightning Network gateway that allows you to buy Bitcoin. If you’re new to all of this, that phrase must sound like absolute gibberish to you. To understand the Lightning Network, one must first understand Bitcoin. And to understand Bitcoin, one must first understand Euro’s ! So, I’ll start of by explaining traditional currencies. Money is such a central part of society that it’s impossible for people to give any coherent definition of it.
In order to start using Flitz, you will need the following: A smartphone or tablet (Android / iOS). The ability to open your e-mail on your phone. A bank account on your name in one of our supported countries. Install the app from the Play Store or the App Store. Log in with your e-mail. You will get a log-in link that you can open on your phone, which should open the app and send you to the screen to complete your account details.
There are many platforms that claim to be the most simple way to buy bitcoin, but we believe they are all wrong. A typical platform requires a lot of hoops to jump through before you can actually convert your euro’s to bitcoin: Give up an insane amount of personal information, before you are even allowed to sign in. Send some funds to the exchange. Manually buy bitcoin once your funds show up on the platform.
This article was written by Peter Chawaga and published in Bitcoin magazine. Bitcoin Beach, the bitcoin-focused project giving residents of a modest beach community in El Salvador unprecedented access to financial autonomy, is driving a global fundraiser to build a surf and community center in honor of Kathy Díaz, a member of the national surf team who was struck and killed by lightning while training. The team signed its first-ever paid contracts in March, which were denominated in sats and funded by Bitcoin Beach.
Because we are a regulated company in Belgium that convert euro to bitcoin on behalf of our customers, we collect the following information from our customers when they sign up: E-mail Full name Country of residence When you send us a bank transfer, we get this information as well, so giving us this information at sign-up time allows us to check this information, but you are not giving up information that would not be available to us anyway when you are using our platform.