Is there a service that lets you lock your Bitcoin for 24-48 hours etc.?

[Get-Paid.com]

There must be a problem with the unsigned raw tx or the provided prv key if you're having problem with signing.

Which private key am I supposed to provide in the SIGN page of Coin.in ?
Or what problem could be with the unsigned raw tx?

[nc50lc]

There must be a problem with the unsigned raw tx or the provided prv key if you're having problem with signing.

Which private key am I supposed to provide in the SIGN page of Coin.in ?
Or what problem could be with the unsigned raw tx?

Remember the public key that you've pasted when you created the time locked address?
You need to provide the private key of that public key to be able to sign the raw transaction.

For the possible problem with the unsigned TX, it could be something in the coinb.in "transaction" page.
It's hard to tell without the raw tx.

edit: the signing part proved to be a lot harder than i thought. coinb.in doesn't even sign the given transaction!!! currently looking for an alternative way. i will publish the whole thing if i succeed.

Weird, it worked at my end (it's currently accepted by blockcypher).
I'm just waiting for the timelock to expire in order to re-broadcast it to other block explorers.

[pooya87]

2 things to have in mind
A. since this is for testing, all the values are generated using different "websites" which you see their links below, keep in mind that for security reasons you must never do this. instead download all the respective sources and run them offline on a clean system.
B. coinb.in has a hard time with testnet apparently so some workarounds were used here. it should work fine for mainnet but you may want to test it yourself to make sure.

i am posting all these values so that you can test any tool that you may find in the future (coinb.in, using bitcoin core to sign, using Electrum or any other wallet, tool, code,...). you can double check to see if you can get the exact values. the only thing that could change is the transaction locktime as new blocks are found and block height grows.

1. creating a new key pair
1.1. we use bitaddress.org. setting it to testnet by adding ?testnet=true to the end
link
private key:

Code:

cVVeRq1oaneL6ELYBXZfkuT3YJSeFB7g8rpRexYKKNDQhqPxkuHT

public key:

Code:

0387CBC334A467FB592BD6E467EA21D34B7226BE38841469EF83424D8BE2B76E5A

2. creating the time lock address using coinb.in
2.1. setting it to testnet by going to settings page https://coinb.in/#settings set network to bitcoin(testnet) and click submit
2.2. go to https://coinb.in/#newTimeLocked and fill in the fielts
pubkey (same as above)
time 11/28/2019 10:00
click submit.
address:

Code:

2NAbY2bwun4YxmHTx7S2BbWTbKNAL1ZsdjE

redeem script:

Code:

046869df5db175210387cbc334a467fb592bd6e467ea21d34b7226be38841469ef83424d8be2b76e5aac

3. send coins to that address:
the faucet used (found using google) https://bitcoinfaucet.uo1.net/send.php
see history here: https://live.blockcypher.com/btc-testnet/address/2NAbY2bwun4YxmHTx7S2BbWTbKNAL1ZsdjE/

4. spend the coins (donate back to the faucet itself)
using https://coinb.in/#newTransaction (sadly the load button is disabled! probably because they don't have a testnet API to fetch UTXOs!) we have to mimic the operation ourselves...
assuming it works correctly with mainnet then all you have to do is enter your (important:) Redeem Script in the first box not your address. and click load.
if it didn't work automatically for mainnet then just follow these steps:
first entering inputs:
transaction ID: 18bea5112a442926ab171d7082ef76fbf654300f6819643699039a67ed274a1f
n (my address was the second one in txouts of above tx which means index is one) = 1
script: IMPORTANT: the same redeemscript as above not the pubkeyscript of the transaction.
amount: 0.00022
now outputs:
address: 2NGZrVvZG92qGYqzTLjCAewvPZ7JE8S8VxE (faucet address)
amount: 0.00021 (pay attention to fee)
result:

Code:

0100000001692fe9564b4b17d580bb797b5ad5e1ccccffc7fb6b2f5aae4518744af1a1cf4b0100000017a914cd145d38914f7cdd4ae2f6df4b50f9976a42778e87ffffffff01583e0f00000000001976a914344a0f48ca150ec2b903817660b9b68b13a6702688ac00000000

now before we sign it, there are a couple of problems with this transaction. according to BIP-65:
- locktime of this tx needs to be of the same type as the locktime of the redeemscript (time here) so we set it to a new value that is also bigger the previous one (1574922600 + 1)
- also the sequence of the input must not be max so we change that too (0xffffffff -=1)

the edited version is this:

Code:

01000000011f4a27ed679a0399366419680f3054f6fb76ef82701d17ab2629442a11a5be180100000017a914be51843ee8b9fd148987833e53342466be38100387feffffff01085200000000000017a914ffd0dbb44402d5f8f12d9ba5b484a2c1bb47da42876969df5d

(note that coinb.in should probably take care of all this if you use mainnet and it creates the tx for you, if it doesn't then maybe you should re-think using OP_CLV unless you find another easy to use tool)

5. signing
https://coinb.in/#sign
- enter the private key from first step in first box
- enter the edited raw tx above in second box
- and click sign

result:

Code:

01000000011f4a27ed679a0399366419680f3054f6fb76ef82701d17ab2629442a11a5be180100000073473044022066c49835065ce39c59e60335b02c22250c06388040d9f2d3203e73d4935edb5702200f31da26d187ee19c3521f903b7abd55dbea83d276852e4ef7d2c3a5b5279328012a046869df5db175210387cbc334a467fb592bd6e467ea21d34b7226be38841469ef83424d8be2b76e5aacfeffffff01085200000000000017a914ffd0dbb44402d5f8f12d9ba5b484a2c1bb47da42876969df5d

6. broadcast
https://coinb.in/#broadcast
again this site doesn't have broadcast for testnet so as workaround i used Electrum with --testnet option but you could use a block explorer like https://live.blockcypher.com/btc-testnet/pushtx/ too

...and we are done:
https://live.blockcypher.com/btc-testnet/tx/5a8671cf995be0b1f7d206459549003663e265545b45023ffbda9058ebcf6742/


conclusion:
as you can see if you have some understanding of bitcoin transactions and scripts you can figure out a way to use this. it took me about 1.5 hours to create this post and i ended up writing some code myself to create and sign the transaction first and then try to make coinb.in to work!!!
so maybe it is best that you don't use this feature if it is not that important to lock coins until a proper wallet like bitcoin core or Electrum implements this feature for easy usage.

[Get-Paid.com]

Remember the public key that you've pasted when you created the time locked address?
You need to provide the private key of that public key to be able to sign the raw transaction.

Thank you, I didn't know I needed to use the private key of the public key I used. So now it's all okay, it worked this time, the transaction is in the Blockchain successfully. (previously it didn't work because I simply provided a random private key of one of the addresses in Electrum).

Weird, it worked at my end (it's currently accepted by blockcypher).
I'm just waiting for the timelock to expire in order to re-broadcast it to other block explorers.

Can I ask what does it mean the transaction is "currently accepted by blockcypher"?
Does it mean that even if I use the timelock there is a chance the transaction would be broadcasted in the Blockchain network (because of Blockcypher) despite having the timelimit in place? This is crucial because if Blockcypher "breaks" the timelimit then the whole thing is useless.

Would appreciate your insight in regards to this question, thanks again.

[nc50lc]

Can I ask what does it mean the transaction is "currently accepted by blockcypher"?
Does it mean that even if I use the timelock there is a chance the transaction would be broadcasted in the Blockchain network (because of Blockcypher) despite having the timelimit in place? This is crucial because if Blockcypher "breaks" the timelimit then the whole thing is useless.

It seems like they are accepting transactions whether it's non-standard or standard,
But other nodes by default will reject that transaction from you or their node as long as the locktime hasn't reached yet.
So the chance that it will reach a solo-miner/pool's node with non-default mempool setting is close to zero.

It'll just result with: "Locktime requirement not satisfied"

[Get-Paid.com]

It seems like they are accepting transactions whether it's non-standard or standard,
But other nodes by default will reject that transaction from you or their node as long as the locktime hasn't reached yet.
So the chance that it will reach a solo-miner/pool's node with non-default mempool setting is close to zero.

It'll just result with: "Locktime requirement not satisfied"

Thanks a lot!

Lastly, would you feel safe about using Coinb.in online for locking your Bitcoin funds?

[nc50lc]

Lastly, would you feel safe about using Coinb.in online for locking your Bitcoin funds?

Personal opinion: no.

[pooya87]

it took me about 1.5 hours to create this post and i ended up writing some code myself to create and sign the transaction first and then try to make coinb.in to work!!!

Wow, thanks for all the hard work ... I managed to get it to work eventually before reading the well dedicated post you made (I'm reading it now, it has much more useful info so thanks for that).

you're welcome. it took that long mainly because i was also writing it here and took a detour to write a small amount of  code to sign the transaction with such redeemscript myself and then double check with coinb.in. (it was an educational experience for me too.)

I only left 1 question above in regards to the timelock itself.

Another question I have - you wouldn't use this feature directly online using the coinb.in website? Did I understand it right? If you had to grade the safety of direct use of the online website Coinb.in for these purposes between 1 and 10 (10 is the safest) how would you rank it?

steps that must be performed offline are only step 1 (creating the key pair) and 5 (signing).
otherwise the rest of them could be (and apart from step 2 should be) performed online.

the reason you don't perform steps 1&5 online in a website is first because you would be online and if your computer or connection is compromised then your keys will leak and you lose your coins that easy.
and second is because when you go to www.somesite.com you have no way of knowing what code that site is actually running even if their source code is available on github. it may be malicious and be running a modified version so when you enter your private key it can easily store it! but when you download the source code and run that, you know what you are running. so the safety of using a website is 1.
the safety of coinb.in source code is better but i still don't like to use unpopular tools for any major amount of funds. stick to something popular and tested like bitcoin core, electrum,... for storage.

[Get-Paid.com]

steps that must be performed offline are only step 1 (creating the key pair) and 5 (signing).
otherwise the rest of them could be (and apart from step 2 should be) performed online.

Step 1 is done, practically, "automatically" using Electrum - correct?

Step 5 - can I copy-paste the Sign code from Coinb.in and paste it in Electrum and broadcast the transaction using Electrum?

I'm asking this in order to simplify things for those who don't like to do too many things in a techie way and are looking to simplify things and yet to keep them safe as well.

[pooya87]

steps that must be performed offline are only step 1 (creating the key pair) and 5 (signing).
otherwise the rest of them could be (and apart from step 2 should be) performed online.

Step 1 is done, practically, "automatically" using Electrum - correct?

Step 5 - can I copy-paste the Sign code from Coinb.in and paste it in Electrum and broadcast the transaction using Electrum?

I'm asking this in order to simplify things for those who don't like to do too many things in a techie way and are looking to simplify things and yet to keep them safe as well.

- yes, any wallet can create one or more keys which you can then use to export their public/private key pair. but keep in mind that the same wallet may not be able to sign the transaction if you use a different script like here.

- most probably not. Electrum, last i checked, uses a certain formatting for its scripts to recognize how to sign raw transactions that it takes. it also may not have the code to even recognize OP_CLV to know how to sign it.

[Get-Paid.com]

- yes, any wallet can create one or more keys which you can then use to export their public/private key pair. but keep in mind that the same wallet may not be able to sign the transaction if you use a different script like here.

- most probably not. Electrum, last i checked, uses a certain formatting for its scripts to recognize how to sign raw transactions that it takes. it also may not have the code to even recognize OP_CLV to know how to sign it.

So perhaps if I want to keep on doing it online, the best thing is to simply use another wallet for steps 1 & 5, then sign the transaction online and broadcast it and then immediately when done transfer the Bitcoin to Electrum or any other safe place that its private key wasn't involved?

[Quidat]

for now there is only one place i know of that lets you do that and it is https://coinb.in/#newTimeLocked

Looks decent. Seriously though OP, just so if you're just planning on locking your bitcoins just so you really won't be tempted to spend the coins in whatever way, you don't need a bitcoin lock solution. You need to learn to have discipline and learn to have control over your actions. Seriously. This will do good for you on multiple aspects of life, not only with holding bitcoin.

In general sense then this would be preferable.You wont use any service or does involved other parties just for your bitcoins to be hold up.You wouldnt be stressed out
that your coins is being held by other services out there just for you to avoid such spending.I dont feel secured into these kind of set-up which the thing you only need
is to stop yourself on spending your coins not in the right time. Self-discipline would really be enough, theres nothing good that you do know that your the only one
who do hold up your coins.

[Patatas]

Let's say I have some Bitcoin and I want to lock the Bitcoin away for many reasons - is there a service that can let you deposit your Bitcoin and get it back after 24 hours or something similar?

Not that know of any such services but even if they exist, I would avoid them. You need to be in control of your bitcoins, if you think you are addicted to gambling or something you should rather talk to your friends then giving access to your funds to any such third party services. Probably use a cold wallet and keep the key safe with your closed one.

Perhaps you can even earn a small interest % on the Bitcoin whilst it's there?

Lending services are something similar I can think so but again don't think they'd pay you just for holding your coins for 24 hours.

[Get-Paid.com]

Not that know of any such services but even if they exist, I would avoid them. You need to be in control of your bitcoins, if you think you are addicted to gambling or something you should rather talk to your friends then giving access to your funds to any such third party services. Probably use a cold wallet and keep the key safe with your closed one.

This thread is not discussing the WHY but the HOW - why can't you keep your opinions to yourself? This is not a WHY thread but a HOW thread? (not why lock your coins but HOW to lock them).

Please save your opinions to yourself if you cannot contribute to the purpose of the thread.

[Get-Paid.com]

I need your help. I'm trying to lock some Bitcoin but without any success.

I got a redeem script, I'm trying to load it, but unfortunately it doesn't load the inputs automatically.

I'm trying to follow with the very detailed instructions provided in post #23 but I still get an error when I submit the transaction:

One or more input or output is invalid

Can anyone help?
Can I post the Redeem script here for you to try it?

EDIT:

Pooya sorted it out:
https://bitcointalk.org/index.php?topic=5207231.0

[Harlot]

And what's the use of this if we have cold storage /desktop wallets tyat we could access anytime? This diesn't require any kind of service at all since hardware wallets are  a better and safer option for you. I think this is a better method since you aren't relying on a third party to hold your funds and I think this is a much bettet option as aside from having a full access for you it also gives you a peace of mind that no one also has the ability to touch it if your wallet is stored offline.

[Get-Paid.com]

And what's the use of this if we have cold storage /desktop wallets tyat we could access anytime? This diesn't require any kind of service at all since hardware wallets are  a better and safer option for you. I think this is a better method since you aren't relying on a third party to hold your funds and I think this is a much bettet option as aside from having a full access for you it also gives you a peace of mind that no one also has the ability to touch it if your wallet is stored offline.

Please, can you avoid discussing if this option is useful or not and just discuss HOW to use this option. I'd appreciate any answers to my question above (post #35).

[shield132]

Let's say I have some Bitcoin and I want to lock the Bitcoin away for many reasons - is there a service that can let you deposit your Bitcoin and get it back after 24 hours or something similar?

Perhaps you can even earn a small interest % on the Bitcoin whilst it's there?

Do you know of any reliable service that does it?

Idk why but no one has mentioned bitcoin mixers. What about to use them for that purpose? Well, I know minus is that you won't get any interest (I highly doubt you'll receive one in any case) and you have to pay some percent fees but finally you achieve what you wanted and also get coins in a very privacy way.
You can send bitcoins to any mixer's address and then choose the adress you want to receive, then set time delay (any minutes/seconds), for example cryptomixer allows you max 96h delay and then receive your bitcoins, it absolutely suits what you want, something like time lock feature.

[Get-Paid.com]

Idk why but no one has mentioned bitcoin mixers. What about to use them for that purpose? Well, I know minus is that you won't get any interest (I highly doubt you'll receive one in any case) and you have to pay some percent fees but finally you achieve what you wanted and also get coins in a very privacy way.
You can send bitcoins to any mixer's address and then choose the adress you want to receive, then set time delay (any minutes/seconds), for example cryptomixer allows you max 96h delay and then receive your bitcoins, it absolutely suits what you want, something like time lock feature.

Thanks a lot.
I've just checked CryptoMixer - looks like Amazing way to achieve what I was looking for in this thread. Thanks so much.

Just a few questions for you:

1) How safe is CryptoMixer?
2) Are there other sites like CryptoMixer?

[shield132]

Idk why but no one has mentioned bitcoin mixers. What about to use them for that purpose? Well, I know minus is that you won't get any interest (I highly doubt you'll receive one in any case) and you have to pay some percent fees but finally you achieve what you wanted and also get coins in a very privacy way.
You can send bitcoins to any mixer's address and then choose the adress you want to receive, then set time delay (any minutes/seconds), for example cryptomixer allows you max 96h delay and then receive your bitcoins, it absolutely suits what you want, something like time lock feature.

Thanks a lot.
I've just checked CryptoMixer - looks like Amazing way to achieve what I was looking for in this thread. Thanks so much.

Just a few questions for you:

1) How safe is CryptoMixer?
2) Are there other sites like CryptoMixer?

[banned mixer] is one of the oldest bitcoin mixer, they also proved that they really own more than 2000 bitcoin. You can trust this website but if privacy is highest priority for you, then I suggest to use chipmixer because you may know three trusted member of this forum verified cryptomixer's funds and they already know their cold wallet adress. Otherwise if you aren't doing anything illegal and seeking for very high security, then everything is ok, still that's my personal opinion about their security.
You can see list of bitcoin mixers there: https://bitcointalk.org/index.php?topic=2827109.0