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0 sats \ 3 replies \ @satsbridge OP 31 Oct \ parent \ on: Mainnet beta for LNURL controlled non-custodial ETH vaults: Receive&Send/w Sats bitcoin
SatsBridge vision and value proposition for bitcoiners is to allow exit into native Bitcoin, and therefore allowing lowering exposure to risk. To be more specific, Vaults also enable access from favorite wallets and allowing not using metamasks and not looking for services to swap into native token for paying gas fees. All Bitcoin LNURL enabled wallets will benefit from this protocol, or specifically Vaults service by SatsBridge.
There are little problems in the design rn.
There are 2 or 3 QRs. You have to be very patient and alert to not miss them.
1/ Authentication to avoid DDOS, then another optional for payment
2/ Actual approval of deployment
You achieve quite an opposite.
You in fact turn those who already use Lightning ahead of shitcoins for some reason, to install Metamask, Okx, Trust whatever shitty wallet they may need in the moment.
Whereas with this service
- user does not need to install metamask for example, to accept payments and withdraw later at any convenient moment into btc onchain or offchain
- favorite non-custodial wallet becomes more useful
- those who still use Metamask or Trust or whatever may use Lightning wallet more frequently as 2FA device which is good for this Lightning wallet long term
Thank you for feedback.
I am happy about that you've figured out a way that works for you.
In general many p2p platforms have closed due to regulatory pressue.
But Bitcoin needs them because they provide certain scales. It's been a while since I last checked Bisq. It should be working still. Another option is HodlHodl.
It is probably not a good idea to use EU bank transfers to buy btcs even from friends.
Sure. It rather brings a new feature, though.
This tech allows bitcoiners who prefer to use LN wallets as casual cryptowallets, easily create, access, and authorize operations on EVM vaults (Ethereum + L2s) without a native token to pay fees.
I frequently find myself in situations where a client refuses to pay in BTC and instead proposes a stablecoin. That lets me quickly create a receiving address and redirect the funds later, where I need them most. However, a major painpont here migh be still having a native token to move funds.
However, I find it funny that narrative "LN is dead" seems to be contradictory to "Bitcoin security is under threat" since if there is no robust 2nd layer, many transactions should settle onchain hence there will be some demand anyway.