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Author Topic: Locking a wallet so I can't withdraw coins  (Read 4072 times)
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July 28, 2016, 02:13:06 PM
 #21

What I can think of is something like an online wallet you access with a web CP. It could be a regular wallet, but your web CP access could be restricted.

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August 23, 2016, 08:43:53 AM
 #22

set a goal , to reach your target , then save it on cold storage and paper wallet , set a remainder on your laptop one reached certain days to give you remainder. there are some wallets which gives double security options , you need to choose which is suitable for your country Smiley

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August 23, 2016, 11:54:15 AM
 #23

I'm not really sure if this should go here or off-topic, but I think it should be here  Cheesy

I was wondering if there's a way I could deposit bitcoins to a wallet, address, and I wouldn't be able to withdraw them until I reach a certain sum
I'd like to start a fund to save money for a car, however, I always end up spending my money instead of saving it  Cheesy
Is there a way to set something up, where I could be able to withdraw the coins only when the balance of the wallet reaches 10BTC or something like that?
For example, generating a password that would be given to me once the balance hits 10 or something like that  Cheesy

This is what I want also. Something that I dont really have an access with. But I got this idea of creating and account with my wife's name on it. I told her to change the password and dont tell me until the time comes. It is still growing up until now. Actually I forget it sometimes but my wife tells me that she wont forget the password. Somehow I had a clue but wouldn't try to open it still.

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August 23, 2016, 11:58:48 AM
 #24

Electrum has an option in which you can freeze an address and you can not move the coins from that address anymore. This has also a downfall as its you who control the wallet and you can unfreeze it any moment and keep using and withdrawing this coins whenever you like. Unfortunately the thing that OP is looking for is still not yet implemented and I don't think it can be done. For this to be done are needed 2 persons and when 2 persons use the same wallet, much problems will arise no matter if they trust each other the temptation of using the coins will always be big.
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August 23, 2016, 12:31:30 PM
 #25

I realized a possibility (the 1000 BTC giveaway gave me the idea):
1. You start saving Bitcoins in Address A.
2. You create a raw transaction sending 10 BTC 0.001 BTCfrom Address A to Address B.
3. Do not lose the private key for Address B!
4. Throw away (!) the private key for Address A (Remember: Satoshi recommends never to throw out a private key!)
Now, when you have exactly 10 BTC in Address A, you can broadcast the transaction.

I haven't tested it though. Try at your own risk.
I changed 10 BTC into 0.001 BTC because it feels too risky to do. I'm also not sure if you can use a raw transaction for inputs that are not in the address yet. So this may fail. But I'm curious to know if it can work.

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August 23, 2016, 01:32:49 PM
 #26

I realized a possibility (the 1000 BTC giveaway gave me the idea):
1. You start saving Bitcoins in Address A.
2. You create a raw transaction sending 10 BTC 0.001 BTCfrom Address A to Address B.
3. Do not lose the private key for Address B!
4. Throw away (!) the private key for Address A (Remember: Satoshi recommends never to throw out a private key!)
Now, when you have exactly 10 BTC in Address A, you can broadcast the transaction.

I haven't tested it though. Try at your own risk.
I changed 10 BTC into 0.001 BTC because it feels too risky to do. I'm also not sure if you can use a raw transaction for inputs that are not in the address yet. So this may fail. But I'm curious to know if it can work.
Won't work. You would need to know the txid and index of the inputs beforehand and you won't know that until you actually receive the Bitcoin.

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August 23, 2016, 01:55:12 PM
 #27

You can create a transaction with the SIGHASH_ANYONECANPAY sighash.  This means that you sign the transaction but ignore other inputs.  Adding additional inputs to the transaction won't make the signature invalid.

This means that you can merge 2 or more transactions together.  You create a transaction with (SIGHASH_ANYONECANPAY OR SIGHASH_ALL).  This means anyone can pay and also that you are signing all outputs.

The first transaction could be

Input: 0.11 BTC, Output: 1 BTC to <key_spend>
Signed: (ANYONECANPAY | ALL)

Once you have verified the transaction, you throw away the private key for signing the input.

You can create more transactions like the first one.  Once they all add up to 0.11 BTC (or more), you can merge them into a single transaction.  This only works if all of the transactions pay to exactly the same output.  You can include a fee by having the inputs larger than the outputs.

Since nobody has set something like this up already, there is a risk of bad coding.  If you mess things up, then you can't get your money back.

You could put the private keys somewhere inconvenient rather than destroying them, at least for the first attempt.  The actual first attempt should use as little money as possible (testnet coins would be even better).

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September 01, 2016, 08:20:28 AM
 #28

I realized a possibility (the 1000 BTC giveaway gave me the idea):
1. You start saving Bitcoins in Address A.
2. You create a raw transaction sending 10 BTC 0.001 BTCfrom Address A to Address B.
3. Do not lose the private key for Address B!
4. Throw away (!) the private key for Address A (Remember: Satoshi recommends never to throw out a private key!)
Now, when you have exactly 10 BTC in Address A, you can broadcast the transaction.

I haven't tested it though. Try at your own risk.
I changed 10 BTC into 0.001 BTC because it feels too risky to do. I'm also not sure if you can use a raw transaction for inputs that are not in the address yet. So this may fail. But I'm curious to know if it can work.
Won't work. You would need to know the txid and index of the inputs beforehand and you won't know that until you actually receive the Bitcoin.
indeed 

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September 01, 2016, 08:48:06 AM
 #29

After seeing all reply i think only two options are better, one creating a multisign wallet and give the keys to your friends or family members and then when ever you have reached your goal, you can get the keys and then you can sell and fullfill your dream.

Another one is create a paper wallet and just put it somewhere where you reach only after you have attained your goal. You can add in this like just put it in a box or make a wall frame and handover to your friend or your family member and just tell them handover when the target is completed.

Apart from that other ideas are just too much complicated and never tested.
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September 01, 2016, 08:02:51 PM
 #30

I have the same problem so i was thinking of buying a nice funded casascius coin one day then i would never want to peel off the hologram until 100% needed because once it's peeled there is no way to replace it.

The coin will still have value too after you spend the bitcoins.

Whoa...you do realize you'd always be able to get a premium over spot by keeping it intact and selling it whole right?  Very few situations warrant defacing a collectible coin that only gets more collectible while idiots rip away the stickers and devalue them.  They have WAY less value after being spent than they do intact and loaded by the man himself.  You've got a hero account, consider selling it intact for BTC in an auction here...you'll get more than face value every time, and if you're willing to sell on ebay, you can make a lot more than spot price, just be damned sure to ship it with the crazy lock and key shipping that must be signed for by the recipient only.  Ebay has your back if someone try's to scam you and you can prove it.

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September 02, 2016, 01:39:09 AM
 #31

What you're describing is centralization so no there isn't a wallet like that. If there was I wouldn't suggest using it. Maybe it's just time to be an adult and save some money in a separate wallet? Make up a paper wallet and put it somewhere inconvenient so in order for you to actually spend it you need to do step X Y Z (go to your grandma's house, go in the attic, open a safe, put in a password... whatever it may be) or put it in a safety deposit box so you'd have to be to the bank with your key to withdraw anything.
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September 02, 2016, 02:23:53 AM
 #32

I would recommend examining your desire to withdraw/spend the coins to begin with, alternatively checklocktimeverify is in place for this.

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September 02, 2016, 06:36:13 PM
 #33

I too have faced the same problem i too save money and end it up by spendong all the moneg on something foolish but it will be more harker if you try to think something now.i just convert them into fait and i do not spend any money and its working now

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