[IDEA] - LockMyCoins

[ripper234]

Well, it would be nice to have something like this. Maybe a website like BlockChain.info (so that the server has no acces) that locks up your coins until a certain time before you are able to spend it.

Well, yeah, that's what I specified in the OP - a trustless solution is relatively easy to implement here.

[Mitchell]

Well, it would be nice to have something like this. Maybe a website like BlockChain.info (so that the server has no acces) that locks up your coins until a certain time before you are able to spend it.

Well, yeah, that's what I specified in the OP - a trustless solution is relatively easy to implement here.

I wish I had to knowledge to create something like that, because I really like the idea and would do it if I knew how. Maybe I should look into the way BlockChain.info stores wallets.

[Herbert]

Interesting idea, but isn't this quite risky? The moment the locked transaction gets lost the coins are gone, because the original private keys are already forgotten.
This would be cool if the locked transaction would be safe in the blockchain, but as this is not the case you need to have a real safe storage for the locked transaction in order to broadcast it when it's time has come.

[ripper234]

Interesting idea, but isn't this quite risky? The moment the locked transaction gets lost the coins are gone, because the original private keys are already forgotten.
This would be cool if the locked transaction would be safe in the blockchain, but as this is not the case you need to have a real safe storage for the locked transaction in order to broadcast it when it's time has come.

The locked tx can be emailed / exported to the user before the private keys are deleted.
The user can then broadcast this tx himself at a later date.

[Herbert]

Interesting idea, but isn't this quite risky? The moment the locked transaction gets lost the coins are gone, because the original private keys are already forgotten.
This would be cool if the locked transaction would be safe in the blockchain, but as this is not the case you need to have a real safe storage for the locked transaction in order to broadcast it when it's time has come.

The locked tx can be emailed / exported to the user before the private keys are deleted.
The user can then broadcast this tx himself at a later date.

Yes, but that's the point. User needs to manually store the tx in a safe place. Not the kind of a "fire-and-forget" action, instead user has to take exactly the same security consideration as with any offline wallet.

[ripper234]

Interesting idea, but isn't this quite risky? The moment the locked transaction gets lost the coins are gone, because the original private keys are already forgotten.
This would be cool if the locked transaction would be safe in the blockchain, but as this is not the case you need to have a real safe storage for the locked transaction in order to broadcast it when it's time has come.

The locked tx can be emailed / exported to the user before the private keys are deleted.
The user can then broadcast this tx himself at a later date.

Yes, but that's the point. User needs to manually store the tx in a safe place. Not the kind of a "fire-and-forget" action, instead user has to take exactly the same security consideration as with any offline wallet.

Not really - he just needs to back the transaction, he doesn't need to secure it - he doesn't care if anyone steals it (it being the transaction), because all the thief can do is broadcast it, which doesn't get him any coins.

[Mitchell]

Just so you guys know. I am currently trying to create something like this. If someone could tell me how to get nLockTime into a rawtransaction, that would be great.

[miffman]

This is a really good idea. Esp. For a coin like CGB. It's meant to be a long term investment.

[gmaxwell]

Be very careful:  We don't know what the world will look like in ten years. Security fixes may make transactions authored today no longer valid.

At a minimum any such transaction should be sighashed anyone can pay so that extra fees could be added in the future, if fees are required to get acceptable transaction processing time.

[str4wm4n]

how does one generate an nLockTime transaction using http://brainwallet.org/#tx ?

is this possible?

[Mitchell]

how does one generate an nLockTime transaction using http://brainwallet.org/#tx ?

is this possible?

No. That is why I am redoing it. I know what to edit (at least a bit), but I cannot get it like it should. You can checkout my current progress here: http://lockmycoins.bitcoininformation.info Everything is client sided, so don't worry about me stealing your private key.

[Mitchell]

Aaaand. I am done, I guess. You can check it out here: LockMyCoins and you can find the source code on GitHub and the page itself (because it's 100% client sided Javascript). I hope this is what you meant.

Donations are welcome:
18ER6uQZDoRd3SZhHi1LZvRWCTnvovjDAF

[ripper234]

Coolness!

A few comments:

1. Usability - I think the website isn't usable enough, it doesn't explain what it does, and it has too many controls. I doubt anyone but you could use this (I thought up the idea and I'm not sure what I should do here ... instead of explaining on the thread, you need to make the site dead simple for new users finding it).
2. I won't have time to review the actual code, but maybe someone else can help with that.
3. "JavaScript Client-Side BitCoin Lookup" - did you mean "Lockup" ?
4. I would lose the Passphrase field.
5. Fee's --> Fee (or Fees, but never Fee's)
6. Unix timestamp --> omg, please provide an easier way to choose the time. People could accidentally end up locking their coins 10,000 years in the future.
7. The output (JSON tx/rax tw) shouldn't be in the same place as the input (time , dest address). In fact, I'd place the different input fields all visible and not in a tabbed interface.
8. A link to this thread somewhere visible would be good - it can give the user some background.
9. Register lockmycoins.com/.org or lockyourcoins.com/.org or something like ... (I think one of these was free when I started this thread).

[Mitchell]

Coolness!

A few comments:

1. Usability - I think the website isn't usable enough, it doesn't explain what it does, and it has too many controls. I doubt anyone but you could use this (I thought up the idea and I'm not sure what I should do here ... instead of explaining on the thread, you need to make the site dead simple for new users finding it).
2. I won't have time to review the actual code, but maybe someone else can help with that.
3. "JavaScript Client-Side BitCoin Lookup" - did you mean "Lockup" ?
4. I would lose the Passphrase field.
5. Fee's --> Fee (or Fees, but never Fee's)
6. Unix timestamp --> omg, please provide an easier way to choose the time. People could accidentally end up locking their coins 10,000 years in the future.
7. The output (JSON tx/rax tw) shouldn't be in the same place as the input (time , dest address). In fact, I'd place the different input fields all visible and not in a tabbed interface.
8. A link to this thread somewhere visible would be good - it can give the user some background.
9. Register lockmycoins.com/.org or lockyourcoins.com/.org or something like ... (I think one of these was free when I started this thread).

Thank you for these comments, remember it was just an example to show that it works. I will try to make it better looking, more self explaining. I don't think I will buy a domain for that, because I run short on money + BTC, but someone else could. I mean, it's opensource (MIT License) after all

But why lose the Passphrase field? You could use that to get your coins back if you really want to (it would destroy the purpose of the concept). I mostly used Brainwallet's Javascript files and a few extra functions for the Unix Timestamp to Hex conversion.

[Jabbatheslutt]

should include a five year and a 10 year option.

= solid retirement plan...   

This. Help resist temptation to dice them

[ripper234]

Coolness!

A few comments:

1. Usability - I think the website isn't usable enough, it doesn't explain what it does, and it has too many controls. I doubt anyone but you could use this (I thought up the idea and I'm not sure what I should do here ... instead of explaining on the thread, you need to make the site dead simple for new users finding it).
2. I won't have time to review the actual code, but maybe someone else can help with that.
3. "JavaScript Client-Side BitCoin Lookup" - did you mean "Lockup" ?
4. I would lose the Passphrase field.
5. Fee's --> Fee (or Fees, but never Fee's)
6. Unix timestamp --> omg, please provide an easier way to choose the time. People could accidentally end up locking their coins 10,000 years in the future.
7. The output (JSON tx/rax tw) shouldn't be in the same place as the input (time , dest address). In fact, I'd place the different input fields all visible and not in a tabbed interface.
8. A link to this thread somewhere visible would be good - it can give the user some background.
9. Register lockmycoins.com/.org or lockyourcoins.com/.org or something like ... (I think one of these was free when I started this thread).

Thank you for these comments, remember it was just an example to show that it works. I will try to make it better looking, more self explaining. I don't think I will buy a domain for that, because I run short on money + BTC, but someone else could. I mean, it's opensource (MIT License) after all

But why lose the Passphrase field? You could use that to get your coins back if you really want to (it would destroy the purpose of the concept). I mostly used Brainwallet's Javascript files and a few extra functions for the Unix Timestamp to Hex conversion.

No worries, it's great you managed to get something out there!
Did you test it?

You already have the private key field to get your coins back, isn't that enough?
The domain cost is trivial, I could buy one of these and point to your server if you want.
I see the site is down right now?

[Mitchell]

Coolness!

A few comments:

1. Usability - I think the website isn't usable enough, it doesn't explain what it does, and it has too many controls. I doubt anyone but you could use this (I thought up the idea and I'm not sure what I should do here ... instead of explaining on the thread, you need to make the site dead simple for new users finding it).
2. I won't have time to review the actual code, but maybe someone else can help with that.
3. "JavaScript Client-Side BitCoin Lookup" - did you mean "Lockup" ?
4. I would lose the Passphrase field.
5. Fee's --> Fee (or Fees, but never Fee's)
6. Unix timestamp --> omg, please provide an easier way to choose the time. People could accidentally end up locking their coins 10,000 years in the future.
7. The output (JSON tx/rax tw) shouldn't be in the same place as the input (time , dest address). In fact, I'd place the different input fields all visible and not in a tabbed interface.
8. A link to this thread somewhere visible would be good - it can give the user some background.
9. Register lockmycoins.com/.org or lockyourcoins.com/.org or something like ... (I think one of these was free when I started this thread).

Thank you for these comments, remember it was just an example to show that it works. I will try to make it better looking, more self explaining. I don't think I will buy a domain for that, because I run short on money + BTC, but someone else could. I mean, it's opensource (MIT License) after all

But why lose the Passphrase field? You could use that to get your coins back if you really want to (it would destroy the purpose of the concept). I mostly used Brainwallet's Javascript files and a few extra functions for the Unix Timestamp to Hex conversion.

No worries, it's great you managed to get something out there!
Did you test it?

You already have the private key field to get your coins back, isn't that enough?
The domain cost is trivial, I could buy one of these and point to your server if you want.
I see the site is down right now?

I did test it with fake input. Everything works except pushing it (which is logical ).

Also you are right, private key should be good enough and yes, my website is currently down. Trying to fix it with my hosting provider (once again). I use a shared server and it seems that I use to much resources. That's why I redid my scripts, merged stuff, decreased API calls and set my CloudFlare Security Settings to high (to block off bots and shit like that). It seems that it didn't help or something on their side is off.

EDIT: Apperently my log files were to big. It's fixed now.

[Mitchell]

I updated the page and pushed everything to GitHub.

It is now user friendly and you can enter whatever date you want (for example, "Fri Oct 31 2014 00:00:00 GMT+0200" works without a problem). It will be instantly converted to a Unix Timestamp and put into the rawtransaction.

Just a quick note, the scripts won't do anything if the address balance is zero.


Donations are welcome:
18ER6uQZDoRd3SZhHi1LZvRWCTnvovjDAF

[str4wm4n]

.01 btc to whom ever posts a step by step list of instructions for using this!

thanks!

[Mitchell]

.01 btc to whom ever posts a step by step list of instructions for using this!

thanks!

I though my website was quite clear. I will make a tutorial about how to use it tomorrow, if you still need it then. I'm currently a bit busy with a job.