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Author Topic: What is time lock in Bitcoin tx?  (Read 30 times)
superlila
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December 22, 2017, 03:31:15 PM
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I have one TX delayed: https://blockchain.info/es/tx/eda96089fa09ed7e9614b11c4b6809dec44a87c97c253e1463acfb5d0891504b
In this TX doesn't appears the 'lock time'.

I have seen others TX with delay, with lock time. In this example https://blockchain.info/tx/48efcf0723e1e7aaf860009ee2296c7d7b914cc979e4f9f7d33e807421fd6ab1 appears 'Lock Time Block: 500103'.

The question is, why I don't have a lock time in my tx?

Thanks.
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December 22, 2017, 04:15:45 PM
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This means that the owner of the address can only spend his coins after the block 500103. People tend to do that to "prohibit" themselves from spending their coins until a certain date.

The first transaction is a regular one, so there is no time lock.

Quote
A Timelock is a type of smart contract primitive that restricts the spending of some bitcoins until a specified future time or block height. Timelocks feature prominently in many Bitcoin smart contracts, including payment channels and hashed timelock contracts. It can also be used to lock-up bitcoins held as an investment for a period of months or years. Time lock is also used to make fee sniping less profitable.
https://en.bitcoin.it/wiki/Timelock

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