Topic: BitVault: 1st wallet with Native Timelocks over Multisig (Read 541 times)

 
Happy to announce the Official BitVault Community Chat is now available.

Join and keep in touch directly with the Team:

https://t.me/bitvaultpublic


We have almost finalized the pre-product and going to finalize the codebase in a few months, stay tuned!

https://x.com/BitvaultApp
https://www.bitvault.sv/
[email protected]

Happy to announce our GitHub:

https://github.com/BitVaulty . Follow us there and we'll open source the code together with the release of the Beta.

Meanwhile here's a more extensive talk on the product :

https://youtu.be/XNrUf1El3Ow?feature=shared


I remind you to follow us on X and to leave your email on the site , we'll update you with the release :

https://x.com/BitvaultApp
https://www.bitvault.sv/
[email protected]

Thanks.

Very good questions.

As the first Bitcoin wallet with native timelocks + multisig we prefer to follow a B2B2C business model, to make it spread quicker as a plugin/integration into existing wallets either SWs or HWs while also catering directly to individuals. That's different from the Liana model.

Regarding the technology, BitVaulty utilizes only what has already been consolidated and remains commonly used so far.

We don't use taproot so our technological setup is made only of duly tested / previously available op-codes with many years of validation, this way not introducing any risk for our customers.

Very cool. Congratulations on working on this!
We cannot have enough FOSS wallet projects!

Noob Q:
- Is your business model going to be similar to that of Liana Wallet?
- Everyone and their mother always argues timelocks are bad bc it's not tested, it could create security risks etc, what's your take?

Thanks. you can just do it on audio while leaving a private email like protonmail. we don't need any other data.

write to [email protected] and i'll share the link for you to book the interview

This sounds like a good idea but is this going to be video/audio interview, and do we need to share any personal details or not?
Many people in this forum care about their privacy, but I guess it would be easier to find someone with more relaxed rules.

Hello everyone, at https://www.bitvaulty.com/ |  https://x.com/BVaulty we’re finalising our beta roadmap and looking for a few participants to interview to ensure we put our best foot forward.

As a thank you, we’re offering lifetime access to our basic plan (normally $15/month) to the first 10 people who can make the time. The plan includes our native time-delayed transactions and 2-of-2 Multisig for the safety-conscious Bitcoiner. If that sounds like a worthwhile trade, let me know, and I’ll send you a scheduling link for the interview, which will last around 60 minutes.

If anyone is interested just email us at  [email protected]  and I’ll share the Calendly .

Thanks in advance !

Sure . Beta testing will be for free .

I think we offer something unique, we just need not to be shy to claim that this is the most secure non-custodial solution ever built , as it brings the timed-vault of the banks into self-custody solving the problems of hacks and physical attacks for good .

A smart move would be having key players in the Bitcoin space to test and be vocal about it .

Meanwhile , to all of the readers here : just leave your email on the https://bitvaulty.com/ site , to be a Beta tester .

Is everything going to be free during beta testing?

I watched the video and I saw geek speaking with Italian accent
Joke aside, I think there is market for your product, but it won't be easy competing with Casa and others that offer similar services, so you need to offer something unique.

To become a Beta Tester it’s only needed to head over to the https://bitvaulty.com/ site and to leave an email .

We agree with you, to have a fully sovereign wallet solution an App is not enough , a better option is to have a WebApp like Mutiny does . However , to make sure that anybody could store and transact under duress you wanna have a light version with some very basic functionalities which can be easily replicated and smoothly deployed by any interested user over Tor.

We’re going to gradually develop all of that over time , it’s just that in the beginning it’s necessary for an early stage project to start from an App to onboard more users , and after that the WebApp and the light self-sovereign version for Tor can be strategically built .

Check out the presentation we just gave in Prague:

https://youtu.be/Mp6QKo-gEQg?si=aW6MAcw4kJxM_nwl

What is needed to become a beta-tester (other than signing up with email), and can BitVaulty be tested with testnet coins or only with main chain Bitcoin?

Maybe I mentioned before but I don't like when something is strictly connected with mobile apps, this usually means that in few years we are going to need new device because old one will be outdated.
On the other hand if I continue using it with old app and old smartphone this could be potential security issue.
Web version would mostly solve this.

The convenience service can be either Self-Hosted or Managed by BitVaulty , it's up to the user. There will be a recovery software which allows the user to recovery his funds anytime. A recovery can be successful only after the pre-set time delay has passed. If it’s a 2-of-2 the recovery works through a pre-signed tx. In case of a 2-of-3 or more , the user has at least two keys to be used after the time delay has passed.

i don't think an email confirmation is more secure than the native properties of the Bitcoin blockchain.

Bitcoin is hard money backed by Time and Decentralization. We combine both to deliver the utmost security while being user-friendly.

Follow us on https://x.com/BVaulty for updates and leave your email on the https://bitvaulty.com/ site to be a Beta-Tester .

Stay Tuned !

in theory, it's nice to have a trusted 3rd party who would co-sign the transactions you wanted to but what happens if they go out of business or just stop answering emails?  

is that really any different than a centralized service that sends you an email and requires you to click on the link to "confirm" your transaction? it's not a bad feature but it can be kind of a pain in the butt. requiring the user to jump through more hoops to get their transaction processed. in fact now that i think about it, clicking on an email link to actively confirm the transaction is more secure than any time delay which expires and lets the transaction proceed without any action by the user...


first release your wallet so people can start using it and trying out these features you are talking about. do they COST anything? i hope not! that's some feedback for you is don't try and charge the users.

thanks. as a startup with limited resources we have to focus on delivering the basic things in the beginning to show the true value. After the project succeeds, a webapp is definitely on the table. It'd offer the full suite of tools to the users and it only adds value. Yes, there will be an official recording of the bitcoin Prague pitch, i'll post it here.

Meanwhile, if you want to share our proposition with your friends just share this explanatory thread with them: https://x.com/BVaulty/status/1742271715151847885 , and invite them to leave their email on the https://www.bitvaulty.com/ site to test the beta. will update you.

I understand that but this seems to be an opportunity for you or should I say, you've got a big update idea coming up with the making the app available in its web version, definitely something that you should do because it's a good move for your product. Good luck on your Finals of the Bitcoin Prague, do you have a video presentation in YouTube to like show your product, I'd love to share it with my friends in my social media account, would help you a lot if more people would know about you even more.

the code will be available on gitHub and the product will be a phone App. There won't be a webApp but the product comes with a recovery software to be downloaded and stored together with the seeds. In case one day the gvnmt bans self-custody the user will have his pre-downloaded software for recovery. WebApps wouldn't be that effective in that scenario but given the code is open source it could be possible for a skilled developer to build a WebApp on Tor for instance.

If I understand correctly BitVaulty will only going to get released as open source wallet app for mobile devices, so there is not going to be possible to use it in web browsers as a web app by any chance?

We are already in touch with some professional investors. As a startup we have all of the rights to reach out to accredited investors like Angels or VCs for our pre-seed round and, in case we decide to list BitVaulty on wefunder we also have the right to raise from non accredited investors.

It'll be up to them mainly in light of preliminary informations like the team, the solution and the market positioning for instance , whether or not to deploy capital even before the beta comes out. Of course the valuation cap before of the beta will be lower than after its release .

This is startup investing, if you have problems with pre-seed rounds probably this particular field is not for you.

In case we decide to activate a listing on wefunder will let you know. Meanwhile, for any interested accredited investor out there feel free to reach out to: [email protected] and request the pitch deck

And there it is.  The pre-seed round will come before the beta test, right?   

Very upbuilding questions, thanks.  Here are the answers:

- the convenience service can be either self-hosted by the user or run by us. It's up to the user.

- Given the specific time-delay over multisig friction other wallets don't offer at this stage there will be only the official BitVaulty recovery system available, i.e. an open-source and free software which the user can download and store securely together with his keys and map. Over time, we are confident to integrate BitVaulty with the major wallets making it become the industry standard. At that point, it'll become compatible with other wallet's recovery software. However, for now it's safe enough to download and store the official BitVaulty recovery sw together with the keys and experience our one-of-a-kind security.

- the LN and Liquid internal sub-wallets are intended to be used as a "spending" account and should therefore host a progressively minimal amount of funds. The time delay over multisig+secret notifications are meant for the on-chain Vault. Consequently, the time-delay has no meaningful application on L2s.

We will strive to educate our users to the correct setup, management and use of BitVaulty this way making sure they can empower themselves with it.

If you like the project we recommend to leave your email on the bitvaulty.com site to be a Beta Tester, and to retweet the following explanatory tweet to facilitate a quicker and larger reachout:  https://x.com/BVaulty/status/1742271715151847885

AMA and..

Let's perfection Self-Custody together !


PS: We're also about to start a pre-seed round for accredited investors like Angels/pre-seed focused VCs . Write to: [email protected] for more info.

Since you haven't laucnhed it, i'll just leave my questions.
1. Your website mention "multisig convenience service". Who run this service? If it's you, what'll happen to user coin if you decide to stop offer this service?
2. What kind of backup feature is available? Can user use the backup to restore access of their coin using different wallet or software?
3. Are those security features also available if user "store" their Bitcoin on LN or Liquid?

We've made it to the Finals of Bitcoin Prague !

https://bitvaulty.com/blog/bitvaulty-reaches-the-finals-of-the-bitcoin-startup-contest-in-prague.html

https://x.com/BVaulty/status/1795049066629382372

See you on June,13 at 11:50am by the EXPO Stage in Prague.

Meanwhile, follow us on x.com/bvaulty and leave your email on bitvaulty.com to test the upcoming Beta

Hi. No absolutely it's not the first one which allows time delays and/or multisig. There is Liana wallet for instance which has time-delays-  However, it's very different from ours because Liana utilizes time-delays just for the sake of key's recovery.  

Instead, BitVaulty utilizes time delays for hack & theft prevention and also we combine it with a multisig convenience service which co-signs. True innovation.  Furthermore, we have added a feature able to send out a secret notification in case a tx is being initiated.

The topic has been addressed on the thread pinned on top of our X profile: https://twitter.com/BVaulty , when the idea was disclosed a few months ago.

Thank you anyway for encouraging us. We believe self-custody is not bulletproof therefore we are striving to perfection it.

If you think about it, it's like putting a bank's vault with its time-delays and an alarm system, into self-custody.

After BV goes live, nobody is going to need either a custodian or an etf, 'cos you literally have an utmost secure bank into your self-custody solution.

Just leave your email on https://www.bitvaulty.com/ to be a Beta-tester, and follow us on X: https://twitter.com/BVaulty .

I promise you, it's going to be FULLY open-source, convenience service included.

Will keep you posted here.

I hope what I'm about to say doesn't discourage you from releasing and improving the BitVaulty app, but it's worth noting that your upcoming wallet isn't the first wallet with the above two features ^{[regardless of that, it's always nice to have other alternative options]}.

You can count me in if it'll be fully open-source.
^{- BTW, best of luck on the contest}

Hello Bitcoiners,

I’m excited to introduce you to BitVaulty.com , a groundbreaking Bitcoin wallet designed to revolutionize the way you manage and secure your digital assets. Being the first wallet to solve the problems of device hacks and physical attacks thanks to our breakthrough time-delays over multisig technology, our mission is to provide unmatched security combined with user-friendly functionality, ensuring your Bitcoin remains safe and accessible.

Why BitVaulty Stands Out:
BitVaulty isn’t just another Bitcoin wallet. It's built on robust principles that cater to both new users and experienced holders. Here are a few reasons why you should consider joining our beta program:

- Multisignature Technology: Enhances security by requiring multiple approvals before transactions can be executed.
- Time-Delayed Transactions: Adds an extra layer of security by delaying transactions, giving users time to cancel if they spot any unauthorized activity.
- User-Friendly Interface: Designed with simplicity in mind, making it easy for anyone to manage their assets securely.

Beta Testing and Community Support:
We are currently approaching the Beta phase and looking for enthusiastic community members who want to test the latest in wallet security and provide feedback to help us refine our product.

Here’s where we need your help:
BitVaulty is a contender in the upcoming BTC Prague Startup Contest, and we need your support to help us get to the finals. By participating, you're not only helping us but also contributing to the broader Bitcoin ecosystem.

Vote for BitVaulty:
To support us, please visit: https://geyser.fund/grants/7

Every sat you send as a vote will be donated directly to opensats.org , supporting Bitcoin development and maintenance. Plus, as a token of our appreciation, the top voter will win a Blockstream Jade, redeemable via the Liquid Network!
More info here: https://x.com/BVaulty/status/1787044555553943963

Join Our Beta Program:
To join the BitVaulty beta, please sign up at our website: https://bitvaulty.com/
Furthermore, you can Follow Us on X for updates: https://twitter.com/BVaulty

Your feedback can significantly impact the final quality of BitVaulty, shaping a wallet that truly meets the community's needs.
We believe in transparency, community involvement, and the power of Bitcoin to change the world. Support us in making self-custody safer, easier, and more accessible for everyone in the crypto community.
Thank you for your time and support. Let's make BitVaulty a success together!

Looking forward to seeing you in the Beta and at the Bitcoin Prague finals!

Warm regards,
The BitVaulty Team