Post
Topic
Board Bitcoin Discussion
Re: Make a transaction that cannot be spent in X years
by
2_Thumbs_Up
on 05/08/2014, 21:32:38 UTC
There is a mechanism in the protocol that blocks a transaction until a certain time or block.


Please read these:

https://en.bitcoin.it/wiki/Protocol_specification#tx
https://bitcointalk.org/index.php?topic=131443.0


That has the problem that I can revoke the transaction when I want, by broadcasting a different transaction that has not the lock.

What I want is for the money to be not spendable until the time has come...
like I transfer the amount to a public key (the transaction gets into the block) whose script does not allow to spend the amount until a certain date has come.

Best regards,
ilpirata79



1. Create a transaction with lock time from adress A to adress B.
2. Save the signed transaction and delete your private key to adress A. Give the private key to adress B to the recipient.
3. Hope that the protocol doesn't change so that your transaction is still valid when the lock time ends.