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Author Topic: [IDEA] - LockMyCoins  (Read 3549 times)
str4wm4n
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November 20, 2013, 01:59:59 AM
 #41

looking forward to it!
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ripper234
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November 20, 2013, 06:07:59 AM
 #42

BTW I have thought of a good use case for this website except to prevent short term speculation:

Time Vault

You know how banks have vaults that can only open at specific times?
The same could be very useful with BTC, to prevent someone forcing you to send him your BTC at gunpoint.

If you lock your coins away each year, if you get kidnapped and held at gunpoint in the middle of the year, you can honestly tell your kidnapper - "Listen, I really cannot access my bitcoins right now ... here's the proof!"

Please do not pm me, use ron@bitcoin.org.il instead
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November 22, 2013, 10:00:00 PM
 #43

any luck on writing that guide?
Mitchell
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November 22, 2013, 10:11:37 PM
 #44

Not really. My back hurts like hell and I have no motivation at all to do something. I will try to explain the basics:

When you ope the website an address will be generated for you (the private key can be copied, no worries). This will be the address used to lock your coins in a transactions, so you will need to send the coins you want to lock to that address.
 
After that the only thing you need to do is enter an Destination Address, how much you want to send to it (I advice you to send everything, haha) and when it should be accessible (you can enter something like "Tomorrow", "Next month", "23-11-2013" and many more options, just check that the Lock Time variable in the Json output isn't 0 / the output isn't empty).

The script will output an hex encoded transaction and a json one just for display purposes. You have to save the hex one! After that go to the "Broadcast Transaction" and push the transaction. That will push the transaction into the network.

Please note that if you set a time lock for more then a few days, you will have to push the transaction again from time to time. The network / the miners don't support Time Locked Transactions that well.

I hope this helps Wink

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unthy
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November 23, 2013, 04:02:12 PM
 #45

Please note that if you set a time lock for more then a few days, you will have to push the transaction again from time to time. The network / the miners don't support Time Locked Transactions that well.
...
No. You push the transaction locking up the coins right away. The other transaction, the timelocked one, you don't need to broadcast at all until it becomes valid. There's no point broadcasting it, because it won't be stored or relayed. What you need to do is keep the timelocked transaction that pays the coins back out to you safe, and once it matures, you can broadcast it and it should be mined.
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November 23, 2013, 07:48:06 PM
 #46

Like I have stated before, I have never read the whitepaper, nor do I know a lot of the Bitcoin Protocol itself. I'm just a simple programmer. No need to attack me if I made a mistake.

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unthy
michagogo
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November 24, 2013, 09:33:08 AM
 #47

Like I have stated before, I have never read the whitepaper, nor do I know a lot of the Bitcoin Protocol itself. I'm just a simple programmer. No need to attack me if I made a mistake.

My intention wasn't to attack you, simply to correct that misinformation for other people who may see this. I apologize if you interpreted it as an attack.
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November 24, 2013, 05:24:45 PM
 #48

A great idea could really help a lot of ppl here. who's gonna work on it?

btc- 1JrwrV5i58Nx9dqd9TSVLEMm1pGjzetR3H
ltc- LWwVt6TX54HPdEbtJorfNPwS1cvgMHTbve
ifc- iHkvnZpVCHkLkNanjznfa22wak8CiLo6U7
Mitchell
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November 24, 2013, 05:36:34 PM
 #49

A great idea could really help a lot of ppl here. who's gonna work on it?
I already created it: LockMyCoins.


Small explanation:


When you open the website an address will be generated for you (the private key can be copied, no worries). This will be the address used to lock your coins in a transactions, so you will need to send the coins you want to lock to that address.
 
After that the only thing you need to do is enter an Destination Address, how much you want to send to it (I advice you to send everything, haha) and when it should be accessible (you can enter something like "Tomorrow", "Next month", "23-11-2013" and many more options, just check that the Lock Time variable in the Json output isn't 0 / the output isn't empty).

The script will output an hex encoded transaction and a json one just for display purposes. You have to save the hex one! After that go to the "Broadcast Transaction" and push the transaction. That will push the transaction into the network.

You push the transaction locking up the coins right away. The other transaction, the timelocked one, you don't need to broadcast at all until it becomes valid. There's no point broadcasting it, because it won't be stored or relayed. What you need to do is keep the timelocked transaction that pays the coins back out to you safe, and once it matures, you can broadcast it and it should be mined.


Michagogo, thanks for the last paragraph. Wink

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unthy
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January 31, 2014, 02:46:47 PM
 #50

Hello ripper234,

It might pleases you to hear that I am going to redo this project in a more user friendly style. This will include a new name and (of course) a domain. It will also include a little FAQ and a explanation why and how this works.

I will contact you when it's done and posts in this topic Wink

Kind Regards,
Mitchell (BitcoinInformation)



Donations for this project are welcome. 2 dollar is already enough to keep a domain up for a year. The donation address is: 1BTg9Xoy9fwUXoYJppXJfEJWbN9NeYL83Y
All the funds on this address will be used to host and support this project. If you see something you don't trust, just post a message on here or send me a PM and I will explain my expenses.

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unthy
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February 03, 2014, 05:27:14 PM
 #51

Sneak Preview:





Donations for this project are welcome. 2 dollar is already enough to keep a domain up for a year. The donation address is: 1BTg9Xoy9fwUXoYJppXJfEJWbN9NeYL83Y
All the funds on this address will be used to host and support this project. If you see something you don't trust, just post a message on here or send me a PM and I will explain my expenses.

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unthy
ripper234
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March 09, 2014, 04:02:24 PM
 #52

I see that http://lockmycoins.bitcoininformation.info/ is down.

Is it because the new site is under development?
Why not keep the old site alive for the time being?

Please do not pm me, use ron@bitcoin.org.il instead
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March 09, 2014, 06:00:15 PM
 #53

I see that http://lockmycoins.bitcoininformation.info/ is down.

Is it because the new site is under development?
Why not keep the old site alive for the time being?
Yes, I shut it down because of the new website. There is a bug in the old version which makes the transaction go through instantly and some other small things that I need to change. Working on it as fast as I can, but school makes it a bit harder. It's consuming a lot of time.

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unthy
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