Update: I have not heard back from this user, so I assume this issue has resolved itself. If not, or if you think certain parts could be improved (that which supposedly caused your issues), let us know.
I just saw this new wallet you are developing in the service section that you paid to ten participants who were able to generate a lightning invoice. So I visited here to get more information about the services you offer. I read that it seems like a lot of people don't like it because you chose to use a domain with a bad history. Are you aware of that before you purchase or reuse this domain? Why do you prefer to make a custodial than a non-custodial wallet?
Sorry for my questions, I don't know much because I have not tried to use a wallet or transaction that has a lightning feature so I would also like to try and have ideas on how to use it and how it works.
Sorry, I glanced over your post.
I just saw this new wallet you are developing in the service section that you paid to ten participants who were able to generate a lightning invoice. So I visited here to get more information about the services you offer. I read that it seems like a lot of people don't like it because you chose to use a domain with a bad history. Are you aware of that before you purchase or reuse this domain?
See the answer above.
Why do you prefer to make a custodial than a non-custodial wallet?
We don't. We'd rather seen that moneypot was
decentralized as well. This is definitely something we would love to do in some distant future.
However, certain features of the wallet wouldn't make much sense in a non-custodial setting.
If we had no control over your funds, implementing a blind signature scheme wouldn't make much sense. In terms of lightning and fees, there would be no way to really differentiate from already existing and established wallets.
Sorry for my questions, I don't know much because I have not tried to use a wallet or transaction that has a lightning feature so I would also like to try and have ideas on how to use it and how it works.
From a user POV, moneypot works just like your regular bitcoin wallet.
You deposit bitcoin by sending it to an address only we have the keys to. Once the
BTC are confirmed, you will be able to claim your "coins" (this all happens automatically).
Note: for those interested, A "coin" is nothing more than a public key that has an (unblinded) receipt (signature from the custodian) for a certain magnitude (which has an associated signing key).
For the client, this is no different than what you would normally do. You don't really notice the entire scheme, at least, that's the idea.
You can choose to pay to an address, or a lightning invoice. Upon initiating a transfer, the wallet sends the coins (up to the amount requested) to the custodian. The custodian checks the validity, and whether or not they have been spent before, and if you actually authorized the transfer of these coins.
If that all checks out, it will attempt to fullfill the requested transfer, or offer you a refund. If you had sent more coins than required, e.g you sent two coins with magnitudes 3 and 4 (2^3 and 2^4), while the transfer was meant for 20 satoshis, you will also be allowed to claim the remainder (2^3 + 2^4 - 20 = a claim to a coin of 2^2)
(A refund really is nothing more than a claim to new coins.)
That's basically it. All this is done provably-honest, meaning that you provide signatures to the custodian signing your transfers with the inputs (coins) you're using, so that you cannot claim that the custodian sent out a transfer of the wrong amount, or to the wrong address. Because only
you have access to the private key belonging to the coins, and thus only
you can create a valid signature. Both parties can independently verify this after and during the transaction.
