Why NONE of the existing wallet apps implemented this feature, to time lock to a certain block, the coins from a UTXO?
I know about coinb solution, but is not so easy for normal users.
A simple interface in a wallet, that says: "send these BTC to this address and will be locked until block xxx.xxx (with a conversion in readable time to understand the user)."
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123 sats \ 1 reply \ @jimmysong 20 Nov 2021
The big reason is that recovery is not so easy. If you lose your wallet and have to recover with your seed phrase, the coins might be there and locked to your wallet, but hard to figure out that it's there. You need to back up the output descriptor somewhere, which adds another step.
I think this will become standard with TapRoot. Wallet providers will be a lot more willing to experiment with this stuff because coding it isn't so nerve-wracking. I know for myself, it's something I want to play with because it's so much easier to add as a scriptspend condition.
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1 sat \ 0 replies \ @DarthCoin OP 20 Nov 2021
Thanks! So let's wait a bit more for taproot to get his "place" maybe some good devs will think about that.
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23 sats \ 1 reply \ @k00b 20 Nov 2021
I'm not sure why. I'm pretty sure OP_CSV (relative to the input it's spending I believe) and OP_CTLV (absolute) would allow you to do this.
I know a lot of mempools will reject non-standard transactions and this might fit the bill, but idk.
Here's a really good article on time locks for anyone interested: https://medium.com/summa-technology/bitcoins-time-locks-27e0c362d7a1
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1 sat \ 0 replies \ @DarthCoin OP 20 Nov 2021
nice article indeed
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