Well, I thought this was something that used time locks to set up a gift wallet that would revert back to the gifted of the gifted didn't move the Bitcoin in a certain amount of time.
It turns out that this is a way to gift time locked Bitcoin to someone else -- which I don't fully understand the use of.
I'm not sure I want to undo the pleasure of my gift by saying "oh, and also, you can't spend it for 1 year." I mean, either give the gift or don't?
What am I missing?
Here are some screenshots:
And here is how Mat describes the flow:
Lockboxes solve this.
They're easy to set up:
1- Provide recipient email address, duration & amount 2- Recipient gets notified, private key created for them 3- Server gets their xpub, creates a timelock tx for the sender to fund 4- Once funded, the timelocked bitcoin is now the recipient's 5 - Intermittent email notifications remind the recipient about their bitcoin 6- After expiry, recipient provides seed phrase to transfer the coin
Was looking for a cheap and easy way to gift bitcoin this Christmas I all but gave up but now maybe I can use this? Hmmm
Maybe: it's a vibe-coded project and definitely in beta or even alpha stage, so don't gift large amounts.
I find a certain elegance in writing down 12 seed words and handing it to the person I want to gift. I just keep a copy of the seedwords myself in case they lose it.
Okay thanks. That is a really simple way. But I am trying not to have access to the private key.
Satcards are great but are not the cheapest way to gift
https://twiiit.com/matbalez/status/2003282716549136863