wish you could gift locked Bitcoin to some people, that’d unlock in X years time
might be a dumb idea tbh
Discussion
I think that would be cool, then you could lock some for yourself too if you are someone who isn’t good at saving.
Even better: with timelocks, the gubment has to wait to steal them, correct? There's no way to override it? https://en.bitcoin.it/wiki/Timelock
Thought this was out there somewhere, maybe an older paper wallet?
🤔 lack the knowledge of it
exists but is indeed judged as a silly idea
emotions get in the way for people, forced low time preference
not smart
if you ever do need it, you locker yourself out
cant predict the future
can be a hedge though
what's a hedge if you cant get to it tho
main point, for me, is to have access to it anytime, from anywhere if needed - no restrictions
You could just say: “I’m gonna give you X amount of bitcoin but you get it in 10 years then just give it too em then?
Better to get two copies of privkey and put it 10 feet underground or in other extremely inaccessible place for 10 years, at least.
Here you go Bro …
From the article:
“It is not advised to lock up bitcoins into the far future because it takes on risk of the bitcoin network changing. For example, if there were an ECDSA or RIPEMD160 algorithm break that made any coins spendable with a few months of CPU time, the network might need to to prohibit moving old unspent coins after some transition, but long locktimed coins could not make such a transition.
OP_CheckSequenceVerify allows locking for at most 65535 blocks (about 455 days) or for at most 65535*512 seconds (about 388 days). OP_CheckLockTimeVerify could be used to lock up coins for several centuries.
Occasionally coins have been accidentally locked up for a long time.”
Good point 👏
Already exists…
nostr:npub1v6xwae25wh6etmqw3m6yce9lnk5dnhtqpzk9fhxjfvjsryctjc8q2kxk5t has a solution for ya.
Thanks nostr:npub1z8gtve683pa6nfknfv37kvfgwd6tgkc6rvtpatz5evvrc5lqpmmszk36vw
Yeah BTCapsule is a program I built to timelock Bitcoin for inheritance, but also gives you the option to redeem your own Bitcoin at anytime. Right now I only have it available for testnet coins until I get some feedback on it
thank you ser 💜
you can send bitcoins that can be spent after a specific block 🤙 I'm sending bitcoins as birthday and Christmas presents to someone I'm in family with, who will be unlocked when she's 18 😀