10.1k sats \ 25k boost \ 61 comments \ @10101 23 Nov 2023 bitcoin

TL;DR: 10101 opened its door for the masses. You find the major appstore links on https://10101.finance

10101:

🦀 A fully fledged self-custodial lightning wallet built with LDK
📈 Enables Peer-to-Peer Perpetual Futures without counterparty risk powered by DLCs (Discreet Log Contracts)
💲Allows you to hold USDP: Usd-over-Lightning - no token, no issuer
🤖🍏 Available on Android and iOS appstores (outside of the US) - APKs will ship soon

Hey SN Community,

We're thrilled to share some fantastic news with you - as of today, 10101 is officially in Public Beta! 🎉

After months of hard work, collaboration, and valuable feedback from our incredible community, we're excited to open up 10101 to a broader audience. The Public Beta is a crucial step in refining our platform and ensuring it meets the diverse needs of users like you.

🌐 What is 10101?

10101 is not just another lightning wallet; 10101 enables users to trade derivatives without counterparty risk. This is how trading was meant to be: peer-to-peer. With the launch of our Public Beta, we're inviting you to be a part of shaping the future of 10101.

🚀 What to Expect from Public Beta:

🦀 A fully fledged self-custodial lightning wallet built with LDK
📈 Peer-to-Peer Perpetual Futures without counterparty risk powered by DLCs (Discreet Log Contracts)
💲USDP : Usd-over-Lightning - no token, no issuer
🤖🍏 Available on Android and iOS appstores (outside of the US) - APKs will ship soon

🚀 How to Join the Public Beta:

Visit our website https://10101.finance to find the links for Android and iOS or below:

Thank you for your support and enthusiasm.

Best, 10101 🚀🌐🎊

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546 sats \ 0 replies \ @rijndael 23 Nov 2023

Congratulations! Super exciting! Been a huge fan since ItchySats.

436 sats \ 1 reply \ @0xIlmari 23 Nov 2023

Do you plan to expand the derivatives offering? Term futures? Options? Would you provide a data API? A desktop app?

10 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

Can happen.

436 sats \ 5 replies \ @OT 23 Nov 2023

How does the USDP work?

0 sats \ 4 replies \ @0xIlmari 23 Nov 2023

https://10101.finance/blog/synthetic-stable/

0 sats \ 3 replies \ @OT 23 Nov 2023

So there's "always" someone to take the other side of the trade? In a raging bull market? Or a panicked bear?

101 sats \ 2 replies \ @0xIlmari 23 Nov 2023

Yes, always. Every transaction in history has two sides: a buyer and a seller. If there was noone on the other side, there would be no transaction, whether it's literal bushels of corn, Bitcoin or derivative contracts.

Now, who the other side is varies. If you're trading on an exchange directly, it's other traders like you. If you're trading via a broker, it's your broker (who then relays the order to the exchange).

Now, what price you can get is a different story. Even in extreme markets there are contrarians who have a different view. When LUNA was crashing down last year, guess what, it rebounded 10x within a couple months so whoever was buing at the bottom made a profit off an otherwise dead shitcoin.

Or it could be any number of reasons why someone needs an opposite position to yours right this moment.

The market is comprised of people with widly differing needs, views and time horizons, which is why there's always activity.

0 sats \ 1 reply \ @OT 23 Nov 2023

Looks similar to blinks "stablesats" & I heard recently another company Atomic Finance that might be similar

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

Similar, but different: Blink's is custodial, so stablesats are.

Furthermore, if I've understood correctly, Blink doesn't make it easy to switch from sats to usd and vice versa.

234 sats \ 0 replies \ @One_O_One_O_One_CM 23 Nov 2023 freebie

Can't wait for what's coming next!

10 sats \ 1 reply \ @erict875 23 Nov 2023

Android url not working for me. It's not available in the UK either...

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

It should be available..

If you're running android 11, it's normal, an update is soon to be release for this

10 sats \ 3 replies \ @BlokchainB 23 Nov 2023

Newest release is crashing on open.

Got about 150k sats stuck on a force closed channel. If you use this app be careful. But the support team is awesome just might be an LDK bug that hasn’t been fixed yet.

50 sats \ 2 replies \ @One_O_One_O_One_CM 25 Nov 2023

Sorry for the inconvenience, we're still in beta but the developers are working tirelessly to fix everything.

0 sats \ 1 reply \ @BlokchainB 25 Nov 2023

It’s all good!! You guys are a great team!!! Just want stackers to becareful about how many sats they put at risk

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

All good!

If your channel gets force closed, you should be able to find your sats in your on-chain wallet after a day or two..

10 sats \ 1 reply \ @kr 23 Nov 2023

awesome!

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

Yes it is!

31 sats \ 13 replies \ @Zepasta 23 Nov 2023

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101 sats \ 9 replies \ @inverselarp 23 Nov 2023

You ahould definitelly read the desc again. Selling futures is not gambling. It is hundreds years old contract helping to catter for future volatility. You can gamble on it sure but it is your own choice.

21 sats \ 6 replies \ @Zepasta 23 Nov 2023

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101 sats \ 4 replies \ @AJ1992 23 Nov 2023

Man, you really are Darthcoin Jr. But you're actually a little more classy in a way. Nonetheless, why do you have to be so mean to people all the time? Have you even actually ever researched what futures/derivatives are? Do you know how it works? Because it seems like you never have and you just see it as something that goes against the narrative you believe in so you just insult and shun. Maybe you should at least educate yourself and learn and eventually, if necessary, adapt to become a smarter and better individual. You're literally coming off like a toddler who doesn't want to hear what the other person is saying because you're convinced they're wrong and you're right. Maybe you'll finally get it that Bitcoin isn't king when it crashes and becomes virtually worthless. I wonder if all you bitcoin maxi's will still be screaming "1 sat = 1 sat" when 1000000 sats = $0 USD

23 sats \ 3 replies \ @Zepasta 23 Nov 2023

I'm not mean to all people, just to shitcoiners like you. There's a big difference.

You see, in my first comment, I simply said, "" I'm not interested "", and gave my list of reasons. But then you shitcoiners decided to try and act smart with me, and that's when things go downhill. Why should I listen to someone who holds DOGECOIN/ETH? Fuck off.

100 sats \ 2 replies \ @AJ1992 23 Nov 2023

Maybe because people have made literally hundreds of thousands to millions of dollars holding/selling what you consider 'shitcoins.' Maybe it's because people have also made tons of money with futures and derivatives. Maybe instead of thinking that listening to what those you disagree with the way you think is pointless because you disagree, You could see it as a way to learn and gain knowledge and maybe find something useful to you in the process. But we all know the odds of that are virtually zero because as I said before you're literally like a toddler holding their hands over their ears saying "la la la i can't hear you." Anything that challenges the way you think is scary to you, isn't it? You were sheltered as a child weren't you?

15 sats \ 0 replies \ @orangekush 24 Nov 2023

While your words evoke good intentions, having made millions of dollars trading shitcoins do not indicate any kind of intelligent activity in the brain of the subject. Try to separate making money gambling from intelligence.

All shitcoins follow Bitcoin price action due to it being the only real digital scarce money in the world, which inevitably brings volatility to it. All the other shitcoins simply follow it's path when Bitcoin enters an epoch where demand exceeds supply (halvings do have a profound effect on that), and astute scammers convince people to buy other coins controlled just by a few.

Classical game play we've seen over years.

If you're enough degen to get yourself into this obvious ponzis, but do so before everyone else, you'll be making money. Making money is actually easy, the hard thing is keeping it, and the only thing that allows you to keep your money over time is bitcoin.

Be careful with what you believe is intelligence. Look for honesty, and even if rude (there's no problem in that, people can act however they feel it's your decision to allow it to bother you or not), this man who you are all trying to convert into a more sympathetic individual, is honest.

0 sats \ 0 replies \ @Zepasta 23 Nov 2023

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10 sats \ 0 replies \ @inverselarp 23 Nov 2023

Just want to clarify one thing. When i correct you (like i did) it is not to educate you personally. I mean it would be great but it is more about other readers. So, nothing personal. Stay dumb, whenever you decide to get out of your shithole we are here to help ❤️

0 sats \ 1 reply \ @aguia 23 Nov 2023

Exactly. BTC is already a form of gambling due to its volatility. As much as I want it to increase in value (generally speaking), I still think it's a good way to preserve the value. There's nothing wrong with that, @Onions. But, then again, this is just my opinion.

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

Just catching up

Bitcoin volatility can be frightening to some users that already have to escape hyperinflation with their own currency.

USDP allow them to dodge volatility for their daily expenses and that's just one of the arguments.

Futures trading using DLC allow users to have lore control on their funds while getting rid of the counterparty risk and the need to trust someone with your funds..

If this is shitcoining to some, fair enough, keep stacking sats in self-custody and leave the rest of the world do what they want with their bitcoins, as long as they own their keys

42 sats \ 0 replies \ @DarthCoin 23 Nov 2023

112 sats \ 1 reply \ @0xIlmari 23 Nov 2023

I understand you have no need for this app, but please do not belittle the activities of merchants and entrepreneurs who need such instruments to run their businesses.

There are and will be companies that work at the friction point between fiat and Bitcoin. They need to plan cash flows in both currencies in advance and using derivatives is one way to eliminate market risk from your operations (and has been for centuries).

There isn't even a shitcoin token associated with it. To "stabilise" part of your balance (say, set aside a USD sum for a future payment) you simply short one against the other with a p2p contract. https://10101.finance/blog/synthetic-stable/

A market maker can take the other side of a trade and earn a profit by providing a valuable service, if they nerd out the numbers (e.g. a "cash and carry" trade).

With options (which are also derivatives, granted, not yet available in 10101), you can even hedge out volatility itself.

In fact, it is a remarkable feat to make the contracts be resolvable self-custodially. Traditionally, a centralised exchange was needed to settle a trade. But from my understanding, 10101 is just a place for traders to meet with offers while the settlement happens out of band. https://10101.finance/blog/trade-settlement

0 sats \ 0 replies \ @Zepasta 23 Nov 2023

41 sats \ 2 replies \ @davidw 23 Nov 2023

21 in binary. Great name 👏

0 sats \ 1 reply \ @k00b 23 Nov 2023

I just hope it doesn't start a trend of people encoding their company names in binary lol. It'd be so hard to keep them straight.

971 sats \ 0 replies \ @davidw 23 Nov 2023

Probably a good strategy if you wanted to create a bunch of shell companies for tax evasion. The authorities would have a really hard time 🤣

43 sats \ 1 reply \ @VzxPLnHqr 23 Nov 2023

Will you publish an F-droid build?

21 sats \ 0 replies \ @quark 23 Nov 2023

Not f-droid but it says APK will ship soon. So we will be able to install it without Google play.

120 sats \ 1 reply \ @lunanto 23 Nov 2023

I will definitely try it out

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

0 sats \ 1 reply \ @HardMoney 23 Nov 2023

Does holding stable sats pay yield?

https://tftc.io/bitcoin-money-market-funds-with-theo-mogenet/

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

perhaps it will in the future 👀

0 sats \ 1 reply \ @GlobalThreat 23 Nov 2023

why must these shit-tier products all force us to use either ios or android? Create a pwa ffs.

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

Cry harder

0 sats \ 0 replies \ @quark 23 Nov 2023

📈 Peer-to-Peer Perpetual Futures without counterparty risk powered by DLCs (Discreet Log Contracts) 💲USDP : Usd-over-Lightning - no token, no issuer

Congratulations. Where to read more about this? How does it work? Edit: ah here https://10101.substack.com/p/noncustodial-trading-with-10101

0 sats \ 2 replies \ @02df4abd70 23 Nov 2023

The launch of 10101's Public Beta empowers users to trade derivatives peer-to-peer, revolutionizing lightning wallet capabilities.

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

You got it right!

0 sats \ 0 replies \ @One_O_One_O_One_CM 25 Nov 2023

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0 sats \ 9 replies \ @TwoLargePizzas 23 Nov 2023

All I see is lots of hype and promises with no explanation of how it actually works.

21 sats \ 8 replies \ @Zepasta 23 Nov 2023

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101 sats \ 7 replies \ @AJ1992 23 Nov 2023

Futures/derivatives is not casino gambling. Stop spreading a false narrative and properly educate yourself instead of sheltering yourself from anything that might change your close-minded views.

3 sats \ 6 replies \ @Rsync25 23 Nov 2023

Futures/derivatives is not casino gambling.

Actually yes, when you use leverage, you are using fake Bitcoin and it does not exist.