🏗️ Let’s build together - The Lightning Physical Notes

🏗️ Let’s build together - The Lightning Physical Notes - Lotes

419 sats \ 7 comments \ @hynek 5 Jan 2023 bitcoin

Hi I have a simple idea for a small project. Physical form of bitcoin on LN. It's like bank notes on lightning so I call it Lotes

There are already similar projects working on first layer:

Tangem - already extended to shitcoins and lot of unrelated features
Opendime - bit nerdy OG solution. One piece costs circa 130 000 sats
Offline cash - testing phase → I paid for one note circa 85 000 sats
One NFC tag cost on the other hand circa 180 sats only

Idea

The proposal is to pass LNURLw to each other using a physical chip. Each new holder just loads the chip onto the mobile phone and thus

Checks that the value is actually on it
He transfers the funds to his node (so that no previous holder can take it)
Uploads a new code to the chip to use it again in the physical world.

The advantage is that verification does not have to be done by every user. Some people may trust that the promised amount is indeed loaded on the chip. This allows people with an aversion to new applications to accept bitcoin without some complication (in exchange for risk)

I have kicked off this simple repo. But I have almost zero coding experience. So far I think will need following knowledge or lot of time & energy:

React Native
LNbits
NFC - understanding the HW and probably this library

Next step

Build prototype of this validating app.

Is this interesting to any of you?
Or do you know about anyone?

I can offer some bounty if that helps.

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10 sats \ 0 replies \ @cryptocoin 28 Mar 2023

UPDATE

The prototype is complete (and flipping awesome!!)

Lotes - physical lightning cash #157596

10 sats \ 3 replies \ @Neo 5 Jan 2023

The principle idea is great, but why the need for complex code?

What about just creating a great looking landing page with a elevator pitch for bitcoin plus a short explanation how to download a wallet, get the funds from the card and how to send the funds back.

All we need to do then is to create a Lnbits instance and create a:

LNURLw - For the withdraw LURLp - So people can the card afterwards again

Finally we just need a nice medium (nfc card, flyer, note which looks like money etc.) and make sure that it looks catchy so people get curious so they visit the landing page and on top contains QR codes with the LNURw and the LNURp.

0 sats \ 2 replies \ @hynek OP 5 Jan 2023

I believe the code could be quite simple. LNbits API could help us to generate new keys for every user and they could be able to simple switch to their own node. (not needed for MVP)

I agree with the web, flyer and physical tags... I just think that the validators app is the first step.

0 sats \ 1 reply \ @Neo 5 Jan 2023

I think for the main audience = newbies it would be better if they do not have to create a new instance.

If the goal is to onboard newbies in a way, that they get their hands on their first bitcoin wallet to receive and send some sats, there would be no need for them to create a LNBits instance (sure its also a wallet but ui wise not designed for normieland imo).

This is how the journey could look like for the newcomers:

-Gets card or cash bill looking like "flyer" from a friend.

The "flyer" is catchy and creates attention/curiosity about Bitcoin and has a clear call to action (AIDA)
He gets lead to a short landing page something like www.bhouse09.com which contains a short hook why bitcoin and then call to action text like start your journey now it's easy etc. he scans first qr code to download bitcoin wallet on phone then scans withdraw link on "flyer" to receive his first sasts and afterwards he sends them back via LNURLp link which also sits on the flyer.
End of the website call to action to keep sharing the flyer with friends etc. maybe to increase motivation we could have counter on the website which says this cards has already been share xyz time (timer could just go up based on the use of LNURLw)

0 sats \ 0 replies \ @hynek OP 5 Jan 2023

I assume that this LNbits instance would start automatically on the background.. Basic user doesn't need to even know about that.

0 sats \ 0 replies \ @03080c13fc 28 Jan 2023

slightly off topic, but Opendime now has the satscard which looks pretty interesting https://satscard.com/faq

0 sats \ 0 replies \ @lightcoin 5 Jan 2023