Locked 1 BTC until 2030 \ stacker news ~bitcoin

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Locked 1 BTC until 2030

560 sats \ 150k boost \ 44 comments \ @chebibu 7h bitcoin

I locked 1 BTC in Piggy until 2030.

If Bitcoin reaches $1M it unlocks earlier, otherwise it stays locked until June 16, 2030, my birthday.

Some will call me dumb for doing this in a bull market, but that's fine. The balance is public, so you can check my Piggy from time to time.

I'll keep adding little by little from what I earn as a designer. This is my savings, not investment advice.

For transparency: if someone checks my Piggy and decides to buy their own, I receive 5%, which goes straight into the same locked balance.

Here’s my Piggy: 👉 https://pig.gy/ufoin.k

Tips are welcome too. Lightning address: ufoin.k@pig.gy

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0 replies \ @chebibu OP 7h

For context, I design at Piggy, but this balance is my own personal savings. It wasn’t earned through Piggy, I just trust the system enough to lock my Bitcoin here long term.

162 sats \ 10 replies \ @Cje95 7h

Does this stay in your possession somehow? I am just thinking about what if they get hacked or fold etc. how do you know your BTC is safe?

84 sats \ 9 replies \ @chebibu OP 6h

Funds aren’t sitting in one hot wallet. They’re in separate multi-sig cold storage, with only a small fraction kept hot for liquidity. My account is secured with passkeys (can’t be breached like a password), so the only real risk is if I hand it over or fall for social engineering.

And per the terms, if Piggy ever folds I will have a withdrawal window to redeem my Bitcoin. It will automatically unlock.

0 sats \ 8 replies \ @steakneggs 6h

What prevents piggy from stealing the balance and closing shop? The FAQ makes it sound like "trust me bro" unless I'm mistaken.

102 sats \ 7 replies \ @chebibu OP 5h

What prevents Piggy from stealing the balance is the same thing that prevents any business from doing it: regulation. Just like Binance, Coinbase, or OKX, it’s a custodial service that operates under rules. If they tried to run off with funds, that’s jail time.

And if you look at the product, you’ll see it’s not like other wallets. It’s a new approach with the latest tech. If the goal was to steal, Piggy would be a shitcoin, pump and dump, and disappear.

82 sats \ 3 replies \ @megaptera 5h

Like ftx, celsius and the like? Be careful what you do with your coins.

0 sats \ 2 replies \ @chebibu OP 5h

FTX was an exchange made by a shitcoiner, for shitcoiners. Piggy is Bitcoin only, and I like its vision, plus it’s actually cute.

0 sats \ 1 reply \ @028559d218 1h

Why not just hold your own bitcoin yourself? Then you can decide if, or when you can access it or spend it? Why trust some sketchy service frankly none of the other stackers have even heard of?

102 sats \ 0 replies \ @chebibu OP 1h

Before calling it sketchy, check the tech. Piggy runs multisig cold storage, proof of reserves with Merkle trees, passkeys, all top grade. It just launched, give it some time to breathe, you’ll end up with a piggy for yourself, I promise :) 🐷

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0 sats \ 2 replies \ @AngryMulbear 2h

And how did "regulations" protect Bernie Madoff's clients?

Not your keys, not your Bitcoin!

202 sats \ 0 replies \ @piggy 1h

ok guys, I’ve gotta jump in. “Not your keys, not your bitcoin” is a great warning, but as a universal mandate it ignores reality: • On-chain capacity isn’t infinite. If every human self-custodied and settled routinely on L1, fees would price out the majority. Global daily commerce can’t live on a scarce settlement layer. • Most people aren’t opsec pros. Seed phrases get lost, mishandled, or stolen. For a lot of users, pure self-custody turns financial risk into personal security risk. • Recovery & inheritance are hard. One mistake, one house fire, one memory lapse, and it’s gone. That brittleness doesn’t scale to billions. • There’s a custody spectrum, not a binary. Multisig with trusted guardians, community/mini-custodians, hardware + social recovery, and regulated custodians with real audits and proof-of-reserves, these are pragmatic middle paths. • Payments vs settlement. L1 should be for final settlement and high-value moves, everyday transactions belong on layers/rails designed for throughput.

Yes, bad custodians have blown up. The answer isn’t forcing grandma to be her own cold-storage CISO… it’s credible, transparent custody options plus easy exit ramps to self-custody when users want it.

So no, on-chain capacity alone isn’t enough for everyone to self-custody and transact. Treat “not your keys” as a north star and safety slogan, not a one-size-fits-all policy.

102 sats \ 0 replies \ @chebibu OP 1h

There will always be bad guys and good guys. You never really know. But in the end we also get cool companies that do good work and solve people’s needs.

If we think like that, then Coinbase, Binance, or even CashApp wouldn’t exist either. Somebody has to start and go through the hard parts to make Bitcoin simple for regular people. Cypherpunks will always have their own tools and their place. But not everyone wants to live in terminals. Most folks just want an easy way to save without stressing about keys. Log in with passkeys, the most secure way for everybody, and you’re good to go.

I’m fully in. I’m for AI and for Bitcoin. That’s Piggy’s mission and vision. At the end of the day that’s what matters to me.

Let’s wait until MCP is on, then we’ll see some cool stuff goin on in dev society.

21 sats \ 3 replies \ @grayruby 4h

Why did you boost this? Are you affiliated with Piggy and trying to promote the product. Nothing wrong with that but you should probably be transparent about it.

142 sats \ 2 replies \ @chebibu OP 4h

Yeap, I’m doing design at piggy, making sure it all looks nice and piggy stays cute.

I mentioned that here: #1085079

Nobody paid me for this, it’s my own money I earned through my Design/Engineering career. These are savings I built up over a couple of years, I locked about half and kept the rest for emergencies. I don’t like trading and I do spend like crazy, so I decided to lock them up.

I hoped that if I boost this it might get popular and I’d earn a couple sats. I really love piggy, it’s a great project and I’m sure you’ll love it too. Prices differ so there’s a piggy for everyone. If you buy through my link, I’ll earn a small commission, that’s the whole goal :))

10 sats \ 1 reply \ @grayruby 4h

Ok. I think you should have mentioned in the post. Maybe pin that comment so everyone knows. Nothing wrong with promoting it just good for everyone to know up front.

40 sats \ 0 replies \ @chebibu OP 4h

right! i will pin it im new on stacker news!

75 sats \ 9 replies \ @satgoob 4h

what in the nft is this

0 sats \ 8 replies \ @chebibu OP 4h

Yeah :))) good point. It’s not an NFT, not some random JPEG. This is what a collectible should look like, one that actually has utility.

It’s planned to become a blockchain collectible too, devs are already on it.

Imagine an ordinal with Bitcoin inside, and you can still deposit more and use it as a wallet again.

6 sats \ 3 replies \ @028559d218 1h

It’s planned to become a blockchain collectible too, devs are already on it.

What the hell is a blockchain collectible?

Imagine an ordinal with Bitcoin inside, and you can still deposit more and use it as a wallet again.

Dude ordinals are scams. They are taking advantage of people who are technically illiterate or financially illiterate or both. Copy pasting a file Control+C Control+V again and again does not make it more valuable.

202 sats \ 2 replies \ @piggy 1h

You mean ordinals the tech or ordinals the scummy JPGs? because the tech is just a container, blockchains give public scarcity and composability. if the token actually gates something scarce (payments, seats, licenses, doors, custody, governance), it’s useful. if not, it’s just a picture with a price tag. the value is whatever the key opens, not the jpeg.

0 sats \ 1 reply \ @028559d218 1h

I guess suckers are born every day

0 sats \ 0 replies \ @piggy 51m

You probably don’t see the tokenized future yet, bookmark this and re-read in 10 years 🐽

0 sats \ 3 replies \ @satgoob 4h

If it quacks like a duck... (oinks like a pig?)

Why is there a marketplace with pictures sorted by rarity that allow you to sell and merchandize them like Bored Ape? Why are the traits generated like minted NFTs?

102 sats \ 1 reply \ @chebibu OP 3h

Yeah, but can your NFT email you back, roast your spending, and double as a Lightning wallet at the same time?

0 sats \ 0 replies \ @chebibu OP 3h

10 sats \ 0 replies \ @028559d218 1h

Dude this some sort of weird nft scam lol

91 sats \ 4 replies \ @030e0dca83 6h

Why didn't you use time lock transaction and keep your own keys? Or you made it to promote this pork?

0 sats \ 1 reply \ @chebibu OP 5h

Piggy is for regular folks like me. Not everybody is a hardcore Bitcoiner. I even gave one to my kids, and they picked it up without any problem or questions. I locked it and dropped in a couple hundred dollars worth of sats so they can learn.

And yes, I’m promoting my Piggy. If someone buys their own through my link I get a commission. Piggy just started, so I’ve got plenty of chances to stack :)

198 sats \ 0 replies \ @zodthebarbarian 4h

Ugh, this line of reasoning hurts my soul. Self custody is for everyday regular ppl too. Self custody does not have anything to do with being a hardcore bitcoiner. Logic like that reeks of being an MBA trying to sell a business and it's sad. Just my 2c.

0 sats \ 1 reply \ @openyoureyes 5h

He probably did not use timelock to be able to spend it earlier. He wrote: If Bitcoin reaches $1M it unlocks earlier This is not possible with time lock. So he wants to lock it but also wants to be able to unlock it before 2030.

0 sats \ 0 replies \ @chebibu OP 5h

Everybody says it might hit 1M on the next halving, so I set that as the early unlock. Just in case it happens before 2030.

0 sats \ 4 replies \ @Scoresby 7h

If piggy goes out of business, what happens to your btc?

102 sats \ 2 replies \ @chebibu OP 5h

Per terms:

Liquidation or wound down We are building for the long run. Still, here is our safety plan.

Force unlock for withdrawals: All Smart Locked balances will be unlocked and moved to a withdrawable state.

Withdrawal window: We will announce a clear in-app withdrawal window so you can move funds to your own wallet.

Withdrawal options:

Manual: withdraw to any Bitcoin address you choose.

Automatic (in development): on a liquidation trigger, auto withdraw to your preset Bitcoin address.

Separation of funds: Your bitcoin is held separately from company funds and is never lent or rehypothecated.

0 sats \ 1 reply \ @Scoresby 3h

Thanks for sharing this!

Is the "Smart Lock" enforced by Bitcoin script or is it done in the app or on your servers?

0 sats \ 0 replies \ @028559d218 1h

Trust me bro!!!

10 sats \ 0 replies \ @kpa 5h

🤫

0 sats \ 0 replies \ @j7hB75 1h

Hmm. This makes me feel uneasy.

0 sats \ 0 replies \ @satgoob 4h

Not bitcoin, but a while ago I came across someone who created contracts in BCH that would lock bitcoin and pay annuities or pay them back on a deferred basis

https://www.reddit.com/r/Bitcoincash/comments/17qpdov/there_is_a_crypto_annuity_on_bitcoin_cash_that/

0 sats \ 0 replies \ @BlokchainB 4h

I’m still confused about this piggy thing

0 sats \ 2 replies \ @karanjbhatia 4h

Based.

0 sats \ 1 reply \ @karanjbhatia 4h

But it would be better if there was a way to Time Lock BTC held by yourself, somehow in Bitcoin Core or Knots or whatever. Why use another service. The idea of preventing even oneself from accessing your BTC before a certain time (forced HODL) seems based though.

0 sats \ 0 replies \ @chebibu OP 4h

I got a price target too. At 1M. If Bitcoin hits that before the date it unlocks automatically. Otherwise it stays locked until the time I chose. I’m not that technical, I need to research how the time lock really on self custody..

0 sats \ 0 replies \ @Kael_Yurei 4h

Interesting approach. But at the same time, it's not exactly difficult to keep BTC safe in a regular wallet, if you're comfortable with self-monitoring. I have my own reservations about these kinds of platforms, but still, respect to locking it up until 2030, that requires real commitment.

0 sats \ 0 replies \ @BeeRye 7h

hmm, sure hope you got the keys at least.