10101: Announcing closed beta for noncustodial Lightning wallet
1998 sats \ 9 comments \ @10101 16 Dec 2022 bitcoin
"If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.” - Satoshi Nakamoto
Losing your precious Bitcoin on an exchange sucks. It really does. That's why we are building trading software where nobody can walk away with your coins. Even if we would want to steal, we can't. We build solutions based on DLCs - and now be bring them to Lightning.
We have built ItchySats - and it is great. Now we want to reach more Bitcoiners. So, we had a look at our roadmap and decided to go mobile. And Lightning.
Why not run a Lightning node on the phone? Why not fully-collateralize each trade?
We don't understand why not - so we built it. During the Legends of Lightning tournament we built a POC, adding custom outputs to Lightning channels.
Now it's time to get the 10101 wallet out there:
If you want to shape the future join the 10101 beta testing.
If you have questions shoot them here or on Telegram.
Cheers, 10101 team
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0 sats \ 1 reply \ @cryptocoin 3 Jan 2023
For additional comments on 10101 wallet, see also another post found here on SN:
Introducing 10101 - One app, all things Bitcoin (aka a LN-wallet with DLCs) #104296
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0 sats \ 0 replies \ @cryptocoin 4 Jan 2023
And also see:
Noncustodial Trading with 10101 #117007 https://10101.substack.com/p/noncustodial-trading-with-10101
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30 sats \ 1 reply \ @NotMeNeither 16 Dec 2022
I have been a big fan of Itchysats and been using it for a while. What will happen with Itchysats on Umbrel?
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21 sats \ 0 replies \ @10101 OP 16 Dec 2022
That is awesome to hear.
With 10101 we will focus on mobile first, but self sovereignty is very important to us, and it is part of the roadmap to bring 10101 to the self-sovereign Bitcoin node community (e.g. @umbrel, @RaspiBlitz, @mynodebtc).
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0 sats \ 0 replies \ @cryptocoin 3 Jan 2023
Here's a Tweet by this post's OP that kicked off a Twitter thread describing 10101 wallet futher:
What has 10x faster settlement time and is 10x cheaper and more private than other online payment methods?
The #LightningNetwork ⚡️
It is also global, more open, interoperable and censorship resistant.
The time to build on it is now!
https://twitter.com/get10101/status/1610121681082753026 [Nitter]
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0 sats \ 1 reply \ @0268486dc4 16 Dec 2022
Does Non-custodial mean I don't have custody of my coins? Are they locked in some sort of multisig agreement?
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1 sat \ 0 replies \ @10101 OP 16 Dec 2022
When you decide to trade using the wallet: Yes, the BTC you use and the one of the trade's counterparty are locked in a multisig.
If you don't trade it is another Lightning wallet - that you can also use self-sovereign. The Lightning node runs on the phone (we use LDK for that) and you can plug in your own Bitcoin node.
You can best compare it to Breeze wallet - it's basically the same, but instead of integrating services like LNMarkets (which are not fully noncustodial) we aim to build a P2P network for trading, and each trade is fully colleteralized in a multisig.
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0 sats \ 1 reply \ @DarthCoin 16 Dec 2022
Losing your precious Bitcoin on an exchange sucks. It
Yes. That's why I don' t use my sats for trading (aka speculating). I use BTC only as money. So if your goal is to make a "trading wallet" I am not interested at all.
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0 sats \ 0 replies \ @0373c4d6ff 16 Dec 2022
Some like to trade and invest, others don't. Isn't it still better to give those who want to trade a tool where your trading partner - or even worse the exchange - cannot run away with your funds?
As far as I understand the wallet does not enforce trading.
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