OpenSecret @OpenSecretCloud is a developer platform to build private apps.

The first app built using the platform is Maple AI, @TryMapleAI, a private AI  chat that can't spy on you.

How does it work under the hood and what kind of apps could be built?

🧵 👇 

1/31

ChatGPT, Grok, Gemini, Perplexity, and others collect your information. 

If you keep using them, they’ll eventually know more about you than your mom! 

Why would you keep on providing personal data to your very own CIA dossier? 😏 

2/31

When it comes to privacy and AI, nothing beats running it locally on your own machine. 

Unfortunately, most people don't have the hardware and time to manage that effectively.

3/31

OpenSecret combines the power of cloud computing with the security and privacy of a machine running locally on your desktop!

4/31

The secret sauce is the secure enclave.

It's a protected environment within a server, isolated at the hardware level.

Even if the operating system or the server gets hacked, the data in the enclave is safe. 

5/31

Secure enclaves enable ways to run secure code without seeing what data passes through.

Secure enclaves are also used in smartphone chips, encrypting information e.g. behind a touch ID or a face ID.

6/31

You can think of a secure enclave as a virtual hallway with locked, private vaults.

If any data leaked from these vaults, it would be gibberish and unreadable.

A secret in the open!

7/31

With OpenSecret's secure enclave (AWS Nitro enclave), nobody, not even the devs can see the data in plaintext.

OpenSecret is an open-source platform, and cryptographic attestation proves that the code running in the enclave is the same as the code audited by the public.

8/31

Even during the AI processing, your data remains encrypted.

Maple AI uses Nvidia's GPU-based Trusted Execution Environment (TEE).

This means that users can feed sensitive information into the AI model without exposing it in plaintext to the GPU providers or to OpenSecret.

9/31

The login flow for Maple AI leverages existing social media accounts (Google, GitHub) or email (Nostr login would be nice too!)


10/31

No need to store passwords, PINs, seed phrases, QR codes, or lengthy encryption keys in order to be in control of your data!

Plus, you can sync your data across devices.

11/31

It's a win-win for both users and app developers.

Users don't have to worry about key management and app developers won't be liable for storing users' data and can focus on the app's user experience.

12/31

When sensitive data is only readable by the user, it protects both the user and the developer.

This, in turn, creates a more free and open internet!

13/31

Maple AI uses major open-source models to maximize the openness of the responses (currently Llama 3.3 70B). 

The chat box doesn't filter what you can talk about (unfortunately I ran out of free credits when testing out and I forgot to ask anything controversial..)

14/31

You can have 10 chats per week for free, and if you want to use it more, you have to pay about $6/month for a starter pack.

They also have team packages and a 10% discount when paying with bitcoin.

However, currently you can use bitcoin only to buy a yearly subscription.

15/31

Maple AI can be used in the browser or you can download it locally on Mac and Ubuntu.

Both have end-to-end encryption.

Maple AI doesn't have a mobile app yet. 

16/31

Maple AI could be ideal for therapists, lawyers, accountants, journalists.. or basically anyone.

Stop giving your personal and sensitive information to ChatGPT!

17/31

48% of organizations enter non-public company information to AI apps.

This can bring serious risks to company security and intellectual property.

You're training the AI with your data.. and your competitor can use the same AI that's been trained on your data!

18/31

With Maple AI, your personal info stays private.

Use it as your personal coach or an assistant that gets to know your unique situation the more you use it. 

Make it create a gym program for you.. or a meal plan. 

19/31

OpenSecret's platform provides a secure environment for industries that require strict data confidentiality such as healthcare, education and fintech.

It could also be used as a decentralized identity solution. 

20/31

In the future, users could have an OpenSecret profile, a bit like a Google account with access to Google Drive etc., but where user data is only readable to the user himself (and possible to those he grants a permit). 

21/31

You could also combine the solutions in OpenSecret's stack (private key management, encrypted sync, private AI, confidential compute).

A health startup could protect patients' information in a secure enclave, while also using confidential AI to assist with diagnoses.

22/31

OpenSecret can also bring privacy to any app with their API, to secure existing apps or to create brand new projects. 

The goal is to create a future where all apps we use have privacy on by default.

https://x.com/marks_ftw/status/1916876254936252752 

23/31

It's like a "from HTTP to HTTPS moment".. remember when we got that cute little lock sign in the browser to show that our credit card payments in the early web were safe?

But this time we're also in control of our data, not just our bank accounts!

24/31

Maple AI currently doesn't support image generation and neither does it understand images.

Can't upload your personal, sensitive documents there yet!

25/31

Unfortunately Maple AI is a bit of a subscription trap.

I hope in the future they will utilize pay-per-use designs, like HTTP 402 together with the Lightning Network for zapping micropayments, so I don't have to pay $5.99 for occasional use.

26/31

During my free 10 chat testing period I tried to benchmark its answers with Grok's, and I got the feeling that Grok gave better and more accurate answers.

27/31

However, the sample was small and I'm still giving Maple AI a chance.

At least I'd rather put the sensitive and personal information to Maple rather than Grok.

28/31

If you're interested in building your own apps with OpenSecret's stack, join their dev Discord:

https://discord.gg/ch2gjZAMGy 

29/31

Here's a short video tutorial on how Maple AI works:

 https://www.youtube.com/watch?v=DNJmR9U_3h4&t 

30/31

Finally, a @TFTC21 podcast episode with Anthony and Marcus @marks_ftw from OpenSecrets hosted by @MartyBent.

https://www.youtube.com/watch?v=4bhVDg8RGr0 

31/31

Lets' discuss it on Stacker News!

https://stacker.news/items/972845/r/teemupleb

You can read the unrolled version of this thread here: https://typefully.com/teemupleb/9SVCqww

OpenSecret & Maple AI: Private AI That Can't Spy on You

Debifi @debificom is a platform enabling #Bitcoin-backed loans without rehypothecation. 

Your BTC collateral is secured by a multi-sig escrow, and you'll get a stablecoin or fiat loan.

How does Debifi work and what is the use case?

🧵 👇 

1/15

Custodial lenders (BlockFi, Celsius, FTX etc.) blew up in 2022 because they were misappropriating customer funds.

But what if you could take out an over-collateralized Bitcoin-backed loan while holding the keys to your collateral all the time?

2/15

Debifi enables this by setting up a 3/4 multi-sig escrow loan contract.

The key holders in the contract are:

✅  You hold 1 key (in the Debifi app)

✅  The lender holds one key

✅  Debifi holds 1 key

✅  Another institution holds 1 key


3/15

Throughout the loan period you are in control of your funds because 3 out of  4 signatures are needed to spend funds in the contract.

Debifi does not have access to your funds!

4/15

Only in case of liquidation (BTC price drops so much that your collateral doesn't cover the loan anymore), the 4th institutional key holder can come in and participate in liquidating the loan.

5/15

To start using Debifi, you only need to provide an email.

After that you will get a self-custodial wallet.

Debifi itself doesn't KYC borrowers, but since most loans are offered by institutional lenders, those require KYC.

6/15

Loan amounts on Debifi generally start from about $5,000, and the rates hover between 10-20%.

The maximum loan period tends to be 12 months, but Debifi has stated that they plan to extend them to 24 months soon. 

7/15

Rates will probably go lower when the adoption of the platform grows, and when more institutions onboard as lenders.

Currently, most capital in the Bitcoin lending markets like Debifi is Bitcoiner capital. 

8/15

Why would a Bitcoiner lock stablecoins or fiat in a loan contract for a year if bitcoin will appreciate more than the loan interest during that year?

But if more tradfi institutions join, maybe they wouldn't demand such high interest rates for lost opportunity costs.

9/15

The loan offers can be seen on the Debifi website.

The Debifi mobile app works both as a wallet and a signer, but you need the website in order to engage in contracts. 

10/15

Debifi monetizes its service by taking a loan origination fee (1.5% of the Bitcoin collateral).

Debifi doesn't provide any loans itself.

It just acts an aggregator platform for lenders and borrowers. 

11/15

Debifi loans deal with relatively large bitcoin collaterals, so it would often be ideal to use hardware wallets in these instances.

Luckily, a @COLDCARDwallet Q integration seems possible, and in the future likely other hardware wallets too.

https://x.com/BTCsessions/status/1902772330625110431

12/15

Some use cases:

Start a business without selling your BTC in order to fund your venture

Speculate on the price of BTC by borrowing more stablecoins or fiat to buy more BTC

Avoid taxable events

For lenders: access Bitcoin-native capital as a fiat-world institution

13/15

Here's a video tutorial of Debifi by @BTCsessions:

https://www.youtube.com/watch?v=KIBBtH-y-lg

14/15

Finally, a podcast episode by @PrestonPysh with Debifi founder Max Kei @keidunm:

https://www.youtube.com/watch?v=0DJcXYs5dtE

15/15

Let's discuss it on Stacker News!

https://stacker.news/items/936021/r/teemupleb

You can read the unrolled version of this thread here: https://typefully.com/teemupleb/MTCPeqU

Debifi: Bitcoin-Backed Self-Custodial Loans Without Rehypothecation

Bisq Easy by @bisq_network is a great way for newbies to buy bitcoin without KYC!

How does Bisq Easy work and when should you use it?

🧵 👇 

1/31

A major hurdle for using the original Bisq P2P exchange is that to secure a trade, both buyers and sellers needed to deposit a BTC bond to an escrow.

You needed have bitcoin to buy bitcoin!

Check out this earlier thread about the original Bisq:

https://x.com/teemupleb/status/1625901286448308225

2/31

Bisq Easy is a feature of "Bisq 2", a revamp of the original Bisq software that you downloaded locally on your desktop.

Besides Bisq Easy, the Bisq team is also planning other features for Bisq 2, such as Lightning and Liquid swaps, and eventually merge Bisq 1 and Bisq 2.

3/31

Bisq Easy makes it easier for newbies to buy their first BTC because as a buyer you don't have to deposit funds to an escrow like on Bisq 1.

Instead, you have to trust the seller to hold his end of the bargain.

4/31

Yes.. don't trust, but verify.

But that's why trading amounts on Bisq Easy are set to a maximum of $600 worth of fiat currency.

A good rule of thumb on Bisq Easy is to optimize on small amounts.

5/31

Sellers also have their reputation at stake, and possibly their businesses: many sellers are arbitrage traders who sell BTC on Bisq at a premium and buy it cheaper elsewhere.

6/31

The reputation system on Bisq Easy is the relative ranking of Bisq users amongst the active users on the network.  

7/31

Reputation can be increased by burning or bonding Bisq's BSQ governance token (colored coin on Bitcoin).

BSQ is not created out of thin air like many altcoins: its purpose is to track and value open-source contributions to Bisq and organize governance.

8/31

Account age can also be imported from Bisq 1 to increase reputation.

Successful trades don't build up sellers' reputation.

9/31

Bonding BSQ seems to provide enough financial incentives for sellers not to attempt cheating, but maybe successful trades could be taken into account in the future too?

Buyers don't need to build reputation on Bisq Easy because they always send the fiat payment first.

10/31

Trades up to $25 don't require sellers to have any reputation.

This makes it easier for new sellers to come in, increase their reputation and achieve higher trading limits.

It also increases liquidity for small trade amounts.  

11/31

When you have successfully downloaded Bisq on your desktop and run it, it connects to a privacy network such as Tor. 

As with any programs you download on your computer, it is a good practice to first verify the authenticity of the file.

12/31

When creating a profile, it's recommended to use an ambiguous profile name, such as "CryptoToeLicker420" etc. 

On Bisq 2, you can also manage multiple identities.

13/31

Bisq 2 presents a dashboard where you can enter the Bisq Easy mode.

It's a wizard-like workflow with integrated chat features to make the buying process as easy as possible for newcomers.

14/31

You can browse offers by your desired fiat currency in a chat-like interface.

If you want, you can also see a list of all offers on the right side of the screen. 

15/31

Since sellers are bonding the BSQ token, and thus locking capital to build their reputation, the premium the buyers pay on Bisq Easy can be around 10-20%.

However, the sellers front the transaction costs and are expected to provide some hand-holding for newbie buyers.

16/31

Buying bitcoin without attaching your personal identity to the purchase generally incurs around a 5% premium to the spot price.

If the volumes on Bisq Easy increase, then naturally the premiums would also get more competitive over time. 

17/31

The fiat payment happens outside Bisq and is coordinated between the trade partners. 

It's good to remember that buying BTC on Bisq is not fully "non-KYC" because your fiat payment can be linked to your identity.

18/31

It's important not to write "Bisq" or "Bitcoin" in the reason for payment field unless you want the feds or the IRS guys dry-humping your leg!

19/31

It's generally safer to buy BTC on a P2P exchange than sell it, because there is a small chance that the fiat being used to buy BTC has connections to criminal activity.

If you're too concerned about that, check out your local in-person BTC for cash P2P trading groups!

20/31

Once you've accepted a trade offer, you will see the trade details in your "Open Trades" tab.

When you're buying, you can fill in any Bitcoin address or create a new wallet: Bisq doesn't give you a wallet, but helps you finding one.

21/31

Once the trade is done, all data related to the trade is gone.

Bisq doesn't store trading data on centralized servers. 

Also, all data related to trades is encrypted and only known to the trading partners. 

22/31

In case something goes wrong with the trade, Bisq has mediators to settle disputes.

As a buyer, you can also create your own offers, but it might take a while until somebody takes your order.

23/31

On the original Bisq, you had to keep your computer open in order for your offer to stay valid.

But on Bisq 2, you can also go offline.

To finalize the trade, both traders have to eventually come online.

24/31

Similar to Bisq 1, Bisq 2 is also coded in Java, which means it might still be somewhat resource intensive for your computer.

Bisq 1 is still fully functional and maintained and installs clean alongside Bisq 2.. no drama there.

25/31

There's been ongoing work on a HTML interface to run Bisq 2 on personal node projects like @umbrel or @start9labs.

Bisq is an open-source project, and there are no conceptual or technical hurdles to implement Bisq 2 as a mobile Android app.

26/31

Bisq currently has a mobile app for Android and iOS, but it's only to receive trade notifications.

27/31

To conclude, Bisq Easy is a great way for a Bitcoin newbie to stack first sats without giving out too much personal information.

Because of its more relaxed security features compared to Bisq 1, it's not however good if you want to buy larger amounts.

28/31

Bisq Easy is directed towards first-time buyers.

Once you already have bitcoin, you can also use the Bisq 1 multi-sig escrow and not only trust the seller's reputation. 

29/31

When dealing with small on-chain amounts, it's also good to remember that in a high on-chain fee environment small UTXOs might become unspendable.

You can read more about UTXO consolidation here:

https://x.com/teemupleb/status/1828917909529473287


30/31

Finally, a video tutorial of Bisq 2 by Ian Major @ian__major:

https://www.youtube.com/watch?v=BUoiUSUkMGw 

31/31

Let's discuss it on Stacker News!

https://stacker.news/items/914106/r/teemupleb

You can read the unrolled version of this thread here: https://typefully.com/teemupleb/3Pnae1y

Dodge the Panopticon and Grab Bitcoin With Bisq Easy!

Alby Hub by @getAlby is a great push towards more accessible self-custodial Lightning.

With a monthly subscription, Alby can host Lightning channels for you while you retain the private keys.

How does Alby Hub work? 

🧵 👇 

1/35

Operating a Lightning node yourself requires you to be a bit of a Bitcoin hobbyist.

Opening channels, managing liquidity, getting familiar with hardware and software..

Not impossible of course, but what if I just want a node, not a nervous breakdown!

2/35

To be fair, we can't really expect every Lighting user to manage their own liquidity.

There must be a way for newbies to use Lightning in a more self-custodial way.

3/35

Alby started out as a browser extension that connected the Lightning Network to web applications.

Here's an old thread I wrote in 2022 about that product:

https://x.com/teemupleb/status/1599882236106416128 

4/35

The Alby browser extension still exists and is a good place to store your Nostr private keys, so you don't have to give your nsec to all Nostr apps you interact with.

5/35

The "old Alby" was custodial (unless you connected your own node to it).

Offering a custodial wallet might have become a regulatory burden for Alby, so now when you start using Lighting with Alby, you will get a seed phrase! 

6/35

The seed phrase controls your funds, so if for some reason your Lighting channels close, you can always recover your funds on-chain with any Bitcoin on-chain wallet software.

TIP: use your channels regularly for payments so they're less likely to get closed (happened to me!)

7/35

When you set up Alby Hub, you can still host it on your own instance, e.g. with @umbrel or @start9labs. 

The Alby Cloud subscription is paid in BTC and costs $12.90/month with a -50% discount for the first 3 months.

8/35

Alby works with major channel liquidity providers and with one click, an Alby Cloud user will get channels opened. 

This will cost the user the channel opening fees (depends on the Bitcoin network fees, but often $10-15).

Try timing the channel opening when fees are relatively low!

9/35

It's a good idea to open a channel with a size at least 3 times the largest amount you expect to send or receive (e.g. 1 million sats like here in the example.)

If the channel will be just for your personal use and you don't intend to operate as a routing node, you can leave the channel private (as it is by default).

10/35

On the node dashboard, you can see your spending and receiving capacities of your always-online Lightning node (great way for a newbie to learn about Lightning!). 

If you have any on-chain balance (e.g. from previous channel closures), it will show up as "Savings" balance.

11/35

You can also top up your channels with dirty filthy fiat (ugh) credit cards or a bank transfer.

12/35

Once you have your Alby Hub running, you can connect it to any app that supports Nostr Wallet Connect @nwc_dev.

Nostr Wallet Connect (NWC) is an open-source protocol that uses Nostr relays as a messaging layer between Lightning wallets and apps.

13/35

With NWC, all apps can have Lightning wallet features!

You can learn more about Nostr Wallet Connect here:

https://x.com/teemupleb/status/1804497950867145083 

14/35

You don't need Nostr keys yourself to use Alby Hub.

Alby just uses Nostr relay magic in the background to make your user experience better!

15/35

Still grappling with the Nostr concepts (relays, notes, npubs, zaps)? Check out my Nostr introductory thread:

https://x.com/teemupleb/status/1796888378258117103

16/35

If you open the "App Store" tab on your Alby Hub, you can pair your Alby with various apps, such as Stacker News @stacker_news, BTCPay Server @BtcpayServer, or take your Alby payments on the go with the Alby Go mobile wallet.

17/35

You can give apps permissions on how they can spend your funds, set budgets, expiration times etc.

18/35

Alby Go is a simple Lightning wallet that you can take with you to a bar, restaurant, Bitcoin conference or a meetup if you want to make payments directly from your Alby Hub.

19/35

The wallet is very simple to use.

It basically only has send and receive features and a little bit of transaction history (no keys stored in the wallet!)

You can get Alby Go from the app stores or use it as a progressive web app (PWA).

20/35

Alby offers its own BuzzPay point of sale system.

Merchants can share payment links to employees to receive payments while not giving them the rights to access funds.

21/35

Friends & Family app lets you create sub-accounts for e.g. children or to separate your own budgets e.g. for traveling etc.

Instead of trusting a custodial wallet provider, you trust the "Uncle Jim"!

22/35

You login to Alby Hub with your password which encrypts the private keys on your node.

IMPORTANT: Alby can't reset or recover your password, so keep it safe!

23/35

The original Alby browser extension can still be used as a browser wallet to make payments from your Hub.

It also gives you a self-custodial Lighting address to receive tips, such as teemupleb@getalby.com and works as a Nostr identifier to receive zaps on Nostr.

24/35

Alby Hub is open-source and uses LDK by default as its Lighting backend. 

You can also connect it with most popular Lightning backends such as LND, Phoenixd, Greenlight, Breez SDK, and even Cashu.

25/35

The Alby Hub seed phrase you get only protects your funds from channel closures but it doesn't currently protect your channel states, unless if you're subscribed to Alby Cloud. 

26/35

It's easy to recommend custodial Lightning wallets to merchants when orange-pilling them, especially if the expected revenue from customers paying in bitcoin will be less than $200/month.

27/35

Alby Hub could be a good tool for merchants to nudge towards a more self-custodial solution once that revenue increases.

However, Lighting Network is not for life savings or company treasuries, so hardware wallets and multisigs are highly recommended for those purposes!

28/35

In this post on Stacker News, supertestnet raised the issue how users' private keys are unencrypted on Alby's server RAM, which implies that the hosted node set-up is not perfectly 100% self-custodial:

https://stacker.news/items/620917/r/teemupleb?commentId=621235 

29/35

Final verdict?

Alby Hub is a great step towards more self-sovereignty for the Lightning Network users.

30/35

The slick dashboard and user experience is high class, and because of the Nostr Wallet Connect opportunities, you kinda want to switch most of your Lightning activities to Alby.

31/35

Even if you already run your own Lightning back-end, you can connect it to Alby Hub and benefit from the Nostr Wallet Connection features and the smooth UX/UI.

32/35

Here's a thorough Alby Hub tutorial by @BTCsessions:

https://www.youtube.com/watch?v=2Z1BzwxdP4I 

33/35

More concise one from @ian__major (still very useful!):

https://www.youtube.com/watch?v=8BHagtIX0rc

34/35

Finally, a podcast episode by @stephanlivera with Alby contributor Michael Bumann @Bumi 

https://www.youtube.com/watch?v=B9lWo1ncX_g

35/35

Let's discuss it on Stacker News!

https://stacker.news/items/907754/r/teemupleb

You can read the unrolled version of this thread here: https://typefully.com/teemupleb/s1GfI1Z

Alby Hub: Improving the Self-Custodial Lightning Experience

Blitz Wallet @BlitzWallet1 is a #Bitcoin Lightning wallet bringing different Bitcoin layers together (Lightning, Liquid, e-cash) for a smooth user experience.

How does Blitz Wallet work and why could it be a good wallet for Bitcoin newbies?

🧵 👇 

1/28

There are many Bitcoin wallets available and recommending a specific one can be a difficult task.

Finding the right one depends on the use case and how much funds the user will store in the wallet.

2/28

You don't want to store large amounts on custodial wallets or solutions.

On the other hand, if you just send or zap very small payments, having your own Lightning channel might not be cost-effective. 

3/28

Blitz is a wallet that automatically moves you higher on the sovereignty stack when the bitcoin balance in your wallet grows!

4/28

Let's say you're a new Bitcoin user and you download Blitz.

You have no balance in the wallet.

If you have e-cash toggled on in the app and you receive less than 1000 sats, the sats will automatically be e-cash tokens on your balance (found on the "Experimental" tab).

5/28

E-cash is a custodial scaling protocol for Bitcoin with private transactions.

If you're unfamiliar with Cashu @CashuBTC, or Chaumian e-cash on Bitcoin, check out this earlier thread:

https://x.com/teemupleb/status/1836022952812580975

6/28

If you exceed 2000 sats in your wallet, under the hood Blitz will move 1000 sats to your Liquid Network balance, and leaves 1000 sats for e-cash micropayments.

In the Blitz UI, Liquid balance is found on the "Bank" tab (interesting choice of words!).

7/28

Liquid Network @Liquid_BTC is a federated sidechain of Bitcoin with its own trust trade-offs.

You can learn more about Liquid here:

https://x.com/teemupleb/status/1761068870083981436 

8/28

But.. self-custodial Lightning should be the goal for all self-sovereign Bitcoiners to make small payments!

9/28

Therefore, Blitz uses Breez SDK @Breez_Tech and Blockstream's @Blockstream Greenlight @BlksGreenlight to open a hosted Lightning channel for the user (if the user wants) if the wallet balance exceeds a specified amount (e.g. 500,000 or 1,000,000 sats). 

10/28

Learn more about Breez here:

https://x.com/teemupleb/status/1758235062674628839

11/28

Blitz is self-custodial because you have written down your seed phrase!

If your channel gets force-closed, you can receive your funds on-chain.

The channel opening fee can be about 10,000 sats with current fee rates, so opening a large enough channel is recommended.  

12/28

Once you have a Lightning channel open with enough liquidity for sending and receiving, Blitz treats all BTC as Lightning BTC.

13/28

You can also set a maximum channel opening fee you're willing to pay (by default 5000 sats).

If the fee exceeds that, your funds will stay on Liquid.

14/28

When receiving BTC, users can also choose which Bitcoin layer to use for the payment (not necessary though because Blitz does this on users' behalf!).

15/28

For all this back-and-forth between various Bitcoin layers Blitz uses a Bitcoin bridge Boltz @Boltzhq in the back-end.

You can learn more about Boltz here:

https://x.com/teemupleb/status/1709897791844352043 

16/28

One downside for me when testing Blitz was that after my Lightning channel was opened, I couldn't receive Lightning payments instantly.

This was because I didn't have any inbound liquidity on my channel after the 500,000 sats deposit I made to open the channel.

17/28

Lightning channels need to be balanced, so that you have capacity for both outgoing and incoming payments.

I had to first make a Lightning payment from my new balance before I could receive again!

I believe I could have still received on Liquid though. 

18/28

Blitz wallet can be used as a point of sale app for receiving bitcoin.

You can set a store name and after that you can receive payments to a payment URL.

Employees of a store could use this URL to receive payments without them having access to the funds. 

19/28

Blitz point of sale can accept Lightning, on-chain, Liquid or e-cash payments, and users don't have to be cognizant of which layer to use.

Just like credit card terminals don't really care whether you use Visa or Mastercard.

20/28

For some reason during my testing, I couldn't change my store name to "58k Gang Merch Store".

Instead, the app insisted on me keeping the default randomly generated store name.

Maybe a bug.. Blitz is still in beta after all.  

21/28

"Store" tab on the right hand side of the dashboard gives users access to Bitcoin gift cards powered by The Bitcoin Company @theBTCco, ChatGPT credits payable with bitcoin, and integrations with @sms4sats and @ln_vpn.

22/28

Blitz is available on iOS and Android for beta testing, and they instruct users to only put in funds that they're ok to lose. 

The app is open-source and developed by @BlakeKaufman17, with the UX/UI by @Stromens.

23/28

Some features that I missed (maybe these are forthcoming!):

→ Would be cool to import your Nostr graph and zap your contacts

→ Nostr Wallet Connect @nwc_dev integration so Blitz could be used in other apps

→ set the e-cash threshold manually

24/28

Blitz is like a personal Bitcoin security advisor on your phone. 

The more BTC you accumulate, the higher towards self-sovereignty solutions it nudges you:

E-cash ➡️ Liquid ➡️ Lightning

But the user just sends and receives while the app does everything on the background.

25/28

No more of that "Ok, so once you have this and that amount of sats you have to download this new wallet.. and then after you have stacked this amount you should move to this wallet etc."

26/28

Here's a video tutorial of Blitz by @BTCsessions:

https://www.youtube.com/watch?v=Ka60AHkfrPE 

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On Tuesday, November 19, Blitz devs will do an X space hosted by @OrangeSunSpaces in case you want to tune in to learn more:

https://x.com/OrangeSunSpaces/status/1856408362994508165

28/28

Let's discuss Blitz on Stacker News!

https://stacker.news/items/767970/r/teemupleb

You can read the unrolled version of this thread here: https://typefully.com/teemupleb/9Roi6jZ

Blitz Wallet: Lightning Wallet Using Many Bitcoin Layers

Ark is an open-source protocol to scale #Bitcoin.

It's got ASPs, VTXOs etc. and might seem a bit confusing to understand for many.

In this thread I try my best to break it down for us left-curvers!

🧵 👇 

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Ark was initially proposed in May 2023 by @brqgoo.

Many in the Bitcoin community found the proposal interesting and promising, but since implementing the protocol would have required covenants (soft forks), Bitcoin builders kinda brushed it off for the moment.

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A year later in June 2024, "Ark v2" saw daylight, when a new company @ArkLabsHQ was founded to build Bitcoin scaling solutions on the Ark protocol.

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Although a scaling solution, Ark is NOT designed to be a competitor to the Bitcoin Lightning Network!

It can be better seen as a complementary tool.

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On-chain fees are expected to be unaffordable for most people in the future.

It's also economically unfeasible to open self-custodial Lightning channels for everybody. 

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Self-custodial Lightning might not be the easiest way to onboard new users either. 

You need existing inbound liquidity to receive payments (you need to have bitcoin before you can have bitcoin! 🙁)

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Ark scales UTXO ownership.

UTXO (Unspent Transaction Output) is essentially a portion of a Bitcoin transaction, a bit like a physical $5 bill is a portion of a fiat cash transaction.

Your Bitcoin balance consists of UTXOs.

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Sending on-chain bitcoin (an UTXO) might be very expensive in the future for many Bitcoin users.

But what if a single Bitcoin output could have shares from 30 different people?

It's a bit like having roommates because you can't afford your Manhattan rent! 

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To share on-chain transaction costs, Ark users can be onboarded to Bitcoin with Virtual Transaction Outputs (VTXOs).

These VTXOs are managed by Ark Service Providers (ASPs).

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To use Ark, a user would deposit on-chain BTC to a boarding address, and receive VTXOs.

Or another user of the same ASP could send her some VTXOs to get started.

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For a fee, ASPs periodically organize VTXO transactions in rounds and settle these new UTXOs on the Bitcoin blockchain. 

This is to prevent a fractional reserve of creating unlimited "Ark-BTC".

These rounds can last 15-60 minutes, but can vary from ASP to ASP.

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You could think of ASPs as "UTXO renting services".

To be interoperable with the wider Bitcoin payments ecosystem, Ark uses Lightning Network gateways. 

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Technically, Ark is non-custodial.

An ASP can't run away with users' funds, except when the user is not online once in a 4-week period (the time period can vary from ASP to ASP). 

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After the time period has passed without the user logging in, an ASP can take the unused funds to manage stale liquidity.

Maybe an honest ASP could still roll the funds over for the inactive user for a fee?

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However, the use case of Ark is more directed towards daily payments, not necessarily for the storage of funds.

If you don't use your ASP in 4 weeks, maybe Ark is not for you then! 

Use Lightning!

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VTXOs are connected to each other atomically: if Alice is sending a VTXO to Bob, the ASP will create an on-chain output with Alice's share in it, going to Bob!

Alice only loses funds if Bob gets them.

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Existing VTXOs are destroyed and new ones are created on an ongoing basis.

The ASP can't redeem senders' VTXOs if it double-spends recipients' VTXOs.

Atomicity!

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In a way, ASPs work a bit like Bitcoin miners that process transactions.

But instead of processing transactions to blocks, they process users' requests to send VTXOs to someone else. 

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You can also think of a VTXO as a trustless bank check with an expiration date.

Every time you want to transact with somebody within an ASP, you will ask the operator (ASP) to create a new check for the receiver. 

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Technically, you can also "unilaterally exit" from Ark to the main chain. 

Exiting might be expensive though in a high-fee environment.

Will exiting be economically feasible only for larger amounts?  

If you can afford the UTXO fees, then why use Ark in the first place!

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There are some benefits for onboarding on an Ark though.

Within the same ASP, transactions are fast, cheap and private (Ark could also be used as a coinjoining tool).

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Payment speed could be increased with "out-of-round" payments, where users don't have to wait payments to be included in rounds.

This could make the user experience less clunky for senders.

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However, with out-of-round payments, the recipient needs to trust the sender and ASP not to collude.

Once the recipient gets the VTXO payment, he can take it to the ASP who includes it in a new round, and the user will again be in complete control of his funds.

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The trust model in that regard is not forced and it's up to the user.

All these Ark concepts may seem complicated, but hopefully all actions will be abstracted away nicely for the end user by the wallet software!

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Ark scales Bitcoin horizontally, and theoretically you could "virtualize" components of the Bitcoin protocol and bring smart contracting primitives to Bitcoin this way. 

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"Virtual channels", "virtual PSBTs" (Partially Signed Bitcoin Transactions), or "virtual HTLCs" (Hashed Timelock Contracts).

A simpler, more imminent use case could be saving in fees when dollar-cost averaging (maybe you could withdraw from an exchange directly to an ASP)

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This way you could avoid small "dust UTXOs" on-chain and avoid the need to consolidate UTXOs when fees are high.

If you're unfamiliar with consolidating UTXOs, check out this earlier thread:

https://x.com/teemupleb/status/1828917909529473287 

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Ark could also save fees when rebalancing Lighting channels.

This feature could improve the reliability and cost of using the Lightning Network.

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For institutions or large holders of bitcoin, being an ASP can provide a place to get trust-minimized yield.

Maybe players like e.g. @saylor from @MicroStrategy could be liquidity providers. 

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ASPs are by nature bigger and bulkier than LSPs (Lightning Service Providers).

This might incentivize centralization, and ASPs might become money transmitters in the eyes of the regulators even if they don't custody users' funds. 

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However, ASPs could be federated or P2P to mitigate regulatory concerns.

Or maybe the Ark round builders could be separate entities from the liquidity providers.

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Ark v2 doesn't need covenants, but covenants would make the protocol much better and scalable.

The clArk version ("covenantless Ark") emulates covenants by requiring Ark round participants to sign n-of-n multisig transactions.

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Instead of having clear spending conditions in the script for the Ark rounds (covenants), in clArk the participants need to sign every part of the VTXO tree making up the round.

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You can think of it as signing a contract with multiple clauses, whereas with covenants you would only sign those clauses that affect yourself. 

ClArk without covenants has much more overhead and storage and bandwidth requirements. 

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With covenants, end users wouldn't have to be online all the time either.

Covenants could also improve ASPs' liquidity management and help them optimize for worst-case scenarios such as many users wanting to withdraw on-chain at the same time.

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It's still very early for Ark, and there's no consumer app or wallet yet.

The first go-to-market product from @ArkLabsHQ will be a liquidity management dashboard Ark Node that is currently seeking Lightning node operators to test out the product.

https://arklabs.to/ark-node 

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There is also a proof-of-concept wallet by Ark Labs called Arkade that uses out-of-round VTXO payments for senders: 

https://x.com/ArkLabsHQ/status/1852039439905931638

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Recently Ark Labs announced a partnership with the Bitcoin bridge @Boltzhq in order to make Ark interoperable with the rest of the Bitcoin ecosystem.

https://x.com/ArkLabsHQ/status/1844767778261315763

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You can learn more about Boltz in this earlier thread:

https://x.com/teemupleb/status/1709897791844352043

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Another company building software on Ark is @2ndbtc.

They recently gave Bitcoin the first taste of Ark!

https://x.com/2ndbtc/status/1837530708560302522

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Here's a video overview of Ark by @ian__major:

https://www.youtube.com/watch?v=k47hCzgHuuI 

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Finally, a recent Built on Bitcoin podcast with Alex Bergeron @bergealex4 hosted by @JakeBlockchain:

https://www.youtube.com/watch?v=k47hCzgHuuI 

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Let's discuss it on Stacker News!

https://stacker.news/items/756943/r/teemupleb

You can read the unrolled version of this thread here: https://typefully.com/teemupleb/yWdlD6K

Ark - Protocol to Scale Bitcoin by Sharing UTXOs

1/xx

Ark was initially proposed in May 2023 by @brqgoo.

Many in the Bitcoin community found the proposal interesting and promising, but since implementing the protocol would have required covenants (soft forks), Bitcoin builders kinda brushed it off for the moment.