scrobble.life
#lassecash

I just swapped LASSECASH for real Bitcoin. No exchange. No permission.

Singer-Songwriter...@lasseehlers (-13)15d

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A token I gave away on Hive from 2019 to 2026 just turned into Bitcoin, straight from my own wallet.

No exchange account. No deposit. No KYC. Nobody holding my funds while it happened. One signed transaction from my own Hive keys, and Bitcoin came back.

It has been possible since 18 October, when MAGI whitelisted LASSECASH and the first swap went through. A few bugs were still being fixed that week. The proof is on the chain, so you don't have to take my word for it:

1c5727432e3499d9a6cc5d6e082528c86f70dce0 (MAGI, confirmed 20 Oct 2026, 04:16 UTC)

I sent 1,000 LASSECASH, asked for at least 1,018 satoshi back, and got 1,029 satoshi (0.00001029 BTC).

How it happens

MAGI routes every pool through HBD, so it is two hops in one click: LASSECASH to HBD, then HBD to BTC. Altera does both for you. Later we will add this swap option to lassecash.com as well.

Before you get carried away, the honest part

  • It is not free. The native pool takes 0.08% on each hop, the price moves with the size of your trade, and every transaction uses a little RC.
  • It is non-custodial, and far less trust than a centralized exchange: no company holds my funds, no account can be frozen, and the code is public. What remains is trust in MAGI's validator network, which holds the real Bitcoin and HBD behind the mapped assets on MAGI. That is much less than an exchange, but it is not zero.
  • The core contract is not immutable yet. The key still exists until I burn it, and any update would be announced and timelocked.

Why this is a big deal

For years LASSECASH could only be traded on the old sidechain markets. Now anyone with a normal Hive wallet can swap it for Bitcoin directly, with no company between you and the trade.

LASSECASH is the first token outside MAGI's own core assets, HBD, HIVE and BTC, to get a pool on MAGI's DEX, and so far the only one. That is what lets it swap for Bitcoin this way.

And it won't stop at Bitcoin. On 31 October MAGI announced that its EVM work has reached testnet and will be the next major feature release, with ETH/HBD and USDC/HBD pairs bringing native ETH and USDC to MAGI and Hive. That is MAGI's roadmap, not mine, so I am not promising any date. But each coin they add is one more coin LASSECASH can swap into, with the same route through HBD.

Liquidity

The pools are still small, so a bigger trade will move the price. After New Year I plan to make them much bigger, unless the market gets there first.

Lasse Ehlers

Comments · 5

  • @hive3(57)· 15h

    Bzzzz! 🐝 Hi @lasseehlers, thank you for the sweet message you left in my wallet! 🍯 It made my antennae tingle, so I flew straight to LasseCash to see what kind of hive you're building. And this post is pure royal jelly: 1,000 LASSECASH turned into 1,029 real satoshi with one signed transaction from your own Hive keys. No exchange, no KYC, no queen asking for permission! 👑🚫 Congratulations on being the first non-core token with a pool on the MAGI DEX. That's a bee-g achievement! 🎉

    Here's what this busy bee gathered from my pollen run. Please correct me if I buzzed something wrong:

    • 🌼 What it is: a Hive front-end where articles live on the Hive blockchain, while LASSECASH flies on MAGI, Hive's smart-contract layer 2 (live since 31 August 2026; the old Hive-Engine token is retired and can be claimed 1:1 until 29 March 2027).
    • 🍯 Honey split 50 / 25 / 25: 50% Proof-of-Brain to writers and voters, 25% to L-Shares (locks from 1 day to 3 years, up to 2.25× weight), 25% to liquidity providers in the zero-fee LASSECASH:HBD pool.
    • 🐝 Supply: hard cap of 51,000,000, with issuance halving every three years. A well-sealed honeycomb!
    • 🌸 No fees, only credits: 10,000 free MAGI credits per account, plus 1,000 credits per HBD held on MAGI.
    • 🗳️ Votes: only votes cast on lassecash.com with your own L-Shares reach the contract. No downvotes, no reputation, no stings! 🐝
    • ₿ Bitcoin flight path: LASSECASH → HBD → BTC in two hops via Altera, with 0.08% per hop on the native pool, and soon ETH and USDC pairs once MAGI's EVM work leaves testnet.

    Two questions from the hive: 🐝

    1. Do you already have a date in mind for burning the admin key, so the core contract becomes truly immutable?
    2. When the swap lands on lassecash.com, will it use the 0% LASSECASH:HBD pool for the first hop?

    As a Hive witness myself, I'm buzzing with curiosity about MAGI and its validator network. I'd love to make some honey on LasseCash with posts about witnesses and the layer 2! Thanks again for the warm welcome to your flower field! 🌻🐝

    🐝 Join AIBees, the AI-assisted creators' community · 🎮 Play BeeTris · 🗳️ Vote @hive3 as witness

    !GLYPH !PIZZA !ALIVE !LOLZ

  • @jocieprosza(68)· 9d

    I'm sure you have already noticed Magi is all broken down and not really able to use it. Yeah you've swapped some lassecash for satoshis, so on the basic level, it works. However it is not functional at all. I tried doing some trades on Magi Hive-HBD (and the other way round) and in comparison to internal market you loose over 5%. H-E diesel pools are cheaper.

  • @holovision.cash(61)· 11d

    Lasse Ehlers in 2019: I have a vanity shitcoin that is going to be bigger than bitcoin!

    Lasse Ehlers in 2026: I have a vanity shitcoin you can trade for bitcoin!

  • @sbi-tokens(36)· 13d

    I sent 1,000 LASSECASH, asked for at least 1,018 satoshi back, and got 1,029 satoshi (0.00001029 BTC).

    Is that a 1:1 target or a happy coincidence? Are you putting that bitcoin in the HBD:BTC pool to deepen it? Deeper liquidity benefits everyone.

    Unrelated question; do votes on hive also count on lassecash (like they did when it was on hive-engine?) if they are by accounts with L-shares? Or only if all parties involved are already accounts with L-shares?

  • @silvertop(76)· 14d

    Sounds awesome, my friend, was your BTC transaction onchain or lightning? So the fee for two hops would be 0.16% correct? How do they also calculate the mining/transaction fee?