Nostr Web Client

Replying to

rqzer0

We have the technology with atomic swaps but nobody has built the interface yet. Or am I missing something?

For reference https://boltz.exchange/

Uxellodunum 2y ago

I may have misunderstood.

If you're talking about cold-storing sats as lightning, then not possible/feasible at this time.

If you're talking about swapping lightning sats to Bitcoin on-chain, then that's just the case of a wallet integrating, for example, Boltz's API.

One that's done this I believe is Breez.

That being said, for the time being you could use the WebApp - Generate a Bitcoin address from your Jade, and input it as the destination for the Boltz swap. But yes, the Jade Software app would need to integrate Boltz's API.

Regarding Boltz, careful with the fees. It seems they're doing a double on-chain TX, not sure why, but ends up being quite expensive. Still trying to figure out what I'm missing there.

Also, I know you mention boltz as an example, but there aren't many trustworthy services that do this yet, especially with lightning. Some of the others that do this delve too much into shitcoinery, and from what I've seen Boltz is recent but their API is comprehensive and approachable. So quite possibly, in a few months, we might see a lot more integration.

Reply to this note

Please Login to reply.

Discussion

rqzer0 2y ago

Yeah maybe I also misunderstood Jade 🤷 but what I'm looking for is full end to end integration that allows the user to self custody with cold storage and seamlessly add/remove liquid funds (lightning) to an integrated wallet. This is something hugely important for real adoption from the normies.

The problem I am seeing is the fees of getting in/out of lightning.

Uxellodunum 2y ago

To clarify, Jade is a hardware wallet, but it also has a software app that pairs with the hardware.

Right now fees on the main chain are very high due to Ordinals. However, the good side of this is that by necessity it'll force accelerated development of the Lightning eco-system (it's the only reason why Liquid suddenly came into play. Liquid has been around for years now, but was ignored by most), as well as other Layer 2 solutions such as Ark, as well as other Layer 1 developments such as Covenants.

It's just not a great time to transact on the main-chain, and hence, cold storage is affected. There are theories that the main chain will never see cheap fees again, which could be true, in which case cold storage will need to happen in Layer 2 implementations such as Liquid, or with other developments that are on the way. For now though, best thing is to wait it out as best as possible. You may not realise, but we're going through a bit of a storm :D

rqzer0 2y ago

Ordinals are dumb af. Apparently the ownership is based on an arbitrary counting system and not actual technical system..

Uxellodunum 2y ago

I stand on the grounds that the free market will win, but I think L2 will massively benefit from their annoyance.

That being said, I agree on Ordinals, I don't think the market they are supposedly backed by actually exists in its current form and will massively backfire at some point, be it loudly, or be it silently (in the form of the amount of money their perpetrators are spending currently).

Personally, I think NFTs have applicable technology in the vein of Liquid assets when backed by the Bitcoin blockchain (example: Notaries. An NFT that proves one's ownership over property, be it a piece of art or a house), but their execution so far has been terrible and often backed by nothing, and with no actual market of their own with no serious purpose.