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33 sats \ 2 replies \ @Scoresby 10 Jul \ parent \ on: Exploring Extended Relative Timelocks bitcoin
Like giving BTC to a kid and locking it till they hit 18
You can already do this using CLTV. You can specify a time or block height and make a utxo unspendable until then (100s of years from now if you like).
Locking coins for more than a few years feels risky. What if something changes in Bitcoin between now and the lock time expiry? The Bitcoin wiki on timelocks is good.
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0 sats \ 1 reply \ @0xbitcoiner OP 10 Jul
Wait, if that’s how it works, then I’m not getting the idea behind timelocks extend. Mind explaining what I’m missing?
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102 sats \ 0 replies \ @Scoresby 10 Jul
i think pyth is talking about extending relative timelocks (using the nSequence field, CSV). these timelocks are called relative timelocks and are different than CLTV timelocks because they are relative to the block when the utxo encumbered by them gets mined. A CLTV timelock references an absolute blockheight or UNIX time.
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