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
IdeaIdea
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 stepNext 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.
UPDATE
The prototype is complete (and flipping awesome!!)
Lotes - physical lightning cash #157596
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.
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.
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.
I assume that this LNbits instance would start automatically on the background.. Basic user doesn't need to even know about that.
slightly off topic, but Opendime now has the satscard which looks pretty interesting https://satscard.com/faq
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See also: https://kong.cash/ Paper: https://ipfs.io/ipfs/QmbHnwBuM7Y41Q1DqnMDRx8yQ1aCMtqVka9biPY6cjWogq