yogg (OP)
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February 26, 2020, 11:34:44 PM Last edit: February 27, 2020, 12:58:24 AM by yogg Merited by krogothmanhattan (30), Mitchell (10), LoyceV (10), Hhampuz (10), TheNewAnon135246 (10), vapourminer (3), wttbs (3), Heisenberg_Hunter (3), 1Dq (3), minerjones (1), phishead (1), anonymousminer (1), geophphreigh (1), favebook (1) |
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Coldkey Cryptobonds I am proud to introduce to you our latest development. Behold Cryptobonds !
(This is on an A4 sheet only for the Proof of Concept)
What are Cryptobonds ? Cryptobonds are loaded Coldkeys with a time lock. It means that you cannot spend the BTC that is stuck in the Coldkey before a certain predefined time.
Today, many ways and instruments exists to let you to lock your fiat away; people end up trusting incorporated entities with their money, their life savings, their blood, sweat and tears. I truly hope for them that this entity's name isn't the next Lehman Brothers.
How do Cryptobonds work ? Everything has been algorithmicaly set in stones on the blockchain. All the data on the Coldkey will allow you to retrieve your funds, when the timelock expires; if BTC keeps on running in the future as it did during these last 10 years, as I see it.
We used a Bitcoin feature called "nLockTime" in order to bring Cryptobonds to you.
Just to state the obvious, we do not keep any private key. Neither the one that's been used to sign the Locked Transaction, neither the one on the Coldkey.
How do I spend my Cryptobond ? There is one big QR code holding the data of a transaction that is locked until a certain date. Once the timelock has expired, Cryptobond owners need to scan the big QR and broadcast the transaction code on the Bitcoin network. This is how you activate it. (Many, many, many ways to do so exists today already.)
At that moment, the transaction will be included in the blockchain, so the Cryptobond Public Address will receive the coins. Afterwards, you will be able to send the funds to any address of your choice by using the Private key, as with every other Physical Bitcoin.
We will publish more detailed instructions very soon.
Does it work ? Yes indeed ! If you want, you can check the tracks of my experimentation with the Cryptobond PoC in the BTC blockchain. For further review, I am happy to make a few Cryptobonds and send them to a handful members.
Here is the list of users I want to send a 1st Test Cryptobond to : - krogothmanhattan - minerjones - Lesbian Cow - ChiBitCTy - Sat0shisGhost - owlcatz - Jcga
(I will be in touch with each of you very soon to send you one)
I think I'll use a different time/date for the different test Cryptobonds; to offer the possibility to experiment further. They will come loaded with 0.001BTC. You can spend the funds to any address of your choice and keep them; but please share your 1st experience with a Coldkey Cryptobond with us all.
The test Cryptobonds timelock will be chosen in a practical manner; however the 1st release of Cryptobonds will help you lock your funds away for a longer time.
Questions ? Feel free to ask me anything or share any thought or remark you might have. Thank you for reading.
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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Mitchell
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February 26, 2020, 11:36:09 PM |
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I've played around with " nLockTime" in the past and this sounds dope! These will be released on an actual card right?
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| | | . Duelbits | | | ▄████▄▄ ▄█████████▄ ▄█████████████▄ ▄██████████████████▄ ▄████▄▄▄█████████▄▄▄███▄ ▄████▐▀▄▄▀▌██▄█▄██▐▀▄▄▀▌███ ██████▀▀▀▀████▀███▀▀▀▀█████ ▐████████████■▄▄▄■██████████▀ ▐██████████████████████████▀ ██████████████████████████▀ ▀███████████████████████▀ ▀███████████████████▀ ▀███████████████▀ | | | | | . ▄ ▄▄▀▀▀▀▄▄ ▄▀▀▄ █ █ ▀▄ █ ▄█▄ ▀▄ █ ▄▀ ▀▄ ▀█▀ ▄▀ ▀█▄▄▄▀▀ ▀ ▄▀ ▄▀ ▄▀
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krogothmanhattan
Cypher Hodl LLC
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The Stone the masons rejected was the cornerstone.
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February 26, 2020, 11:38:22 PM Last edit: February 27, 2020, 12:22:03 AM by krogothmanhattan |
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Amazing concept and love the idea! Looking forward for these as well as the test one to be sent to me...thanks!
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yogg (OP)
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February 26, 2020, 11:39:17 PM |
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I've played around with " nLockTime" in the past and this sounds dope! These will be released on an actual card right? Thank you ! Yes, absolutely Sir Mitchell ! They will come in the card format, as for the rest of the Coldkeys. The sheet of paper was merely for my tests, I didn't even bother to cover the privkey (because I'd need to peel it to check if it works )
Looking forward for these as well as the test one to be sent to me...thanks!
Thanks Krogoth ! I am really excited to ship one to you very soon
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owlcatz
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February 26, 2020, 11:44:38 PM |
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Wow, just wow!!! Proud to be selected and can't wait! Thanks yogg!
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██ ████ | | ████ ██
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[/ce
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geophphreigh
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February 27, 2020, 12:47:19 AM |
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Wow. Contrats @yogg! Very excited to see new things from ColdKey. Super jealous of the lucky testers. Hopefully will give some great feedback. Looking forward to seeing the final product and picking some up! Will stayed tuned for sure.
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buckrogers
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February 27, 2020, 01:37:15 AM |
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sounds great, looking forward to them
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Well I'm dr. spock I'm here to rock y'all
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phishead
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February 27, 2020, 02:31:38 AM |
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Yassss. Keep it up yogg
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Lesbian Cow
Legendary
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February 27, 2020, 02:50:24 AM |
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Great concept and I am happy and honored to test one. Any loaded amount from my test Coldkey will be sent to 1Ross5Np5doy4ajF9iGXzgKaC2Q
It has long been a tradition to give savings bonds to children which mature when they turn 18 and this is a very slick way to do it without trusting a financial institution to hold the funds. Great idea yogg.
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Mbitr
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Bitcoin needs you!
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February 27, 2020, 06:53:35 AM |
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Nice ! Well done Yogg . I will be watching and waiting on these eagerly
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rxalts
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February 27, 2020, 07:14:12 AM |
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Amazing!! Should rename to HODLbonds, because you don't have a choice but to hodl
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TheNewAnon135246
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฿uy ฿itcoin
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February 27, 2020, 07:45:14 AM |
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Love the idea. Been wanting to make a digital version of this for a while now, but haven't had time to properly research it. This is a great way to gift BTC to newcomers and 'forcing' them to hodl.
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Hhampuz
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Meh.
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February 27, 2020, 08:12:01 AM |
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Awesome stuff yogg! Love me some timelocked corns of this kind (been waiting to see something come out). Will look forward to finalized product
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anonymousminer
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February 27, 2020, 02:13:34 PM |
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Really looking forward to these yogg!!
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Agrawas
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February 27, 2020, 02:50:21 PM |
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Great Idea Yogg, Can't wait to order few of these.
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LoyceV
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Thick-Skinned Gang Leader and Golden Feather 2021
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February 27, 2020, 05:58:59 PM |
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For further reading, Using Locktime for inheritance planning, backups or gifts is a good start. There are some possible drawbacks in this. It doesn't have to be a show stopper, but it's good to be aware of them.
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chronicsky
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Just looking for peace
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February 27, 2020, 06:59:30 PM |
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that's really awesome man! Looking forward to them
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tweetious
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Cryptoshi Blockomoto
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February 27, 2020, 07:16:32 PM |
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Well done Yogg! Keep up the good work!
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Corrosive
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February 27, 2020, 07:48:45 PM |
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Shit the bed Yogg! That's pretty damn cool!
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Iced
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Belgian based crypto-enthusiast
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February 27, 2020, 11:15:01 PM |
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You've killed it Yogg! This is a great concept!
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No signature for now
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Hookzup1
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February 28, 2020, 03:52:32 AM |
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This is awesome i hope they test well as i want one asap locked until my 17 month olds 18th bday lol
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Bitcoin is a real life cheat code to gain financial freedom 😉 the future is going to be fun
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yogg (OP)
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February 28, 2020, 12:38:06 PM |
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Hello everyone ! Woaw.. Thanks so much for your warm welcome to our latest project !! It's amazing !! Thank you. I am also grateful to the members who are going to try out the Cryptobonds and share their experience with these. It's a relief to witness that, our innovations are truly in phase with what some of you were looking for, and in a broader manner, what would the market look for. We can, and will, do many things playing around with these technologies. Thanks much everybody for your support !
I am currently making the Test Cryptobonds as of now. I'll post pics of them before shipping. The 1st one will expire on the block #622,800, which according to my calculations will be mined around the 23rd of March 2020. Then, every test Cryptobond will expire 144 blocks from another, which is ~1 day (~24hr) in Bitcoin time. This should leave enough time for shipping, and initial tests.
Absolutely. There is quite a few. However I am confident that if Bitcoin keeps running as it did during the last 10 years, Cryptobonds will work as intended. They're like a "bitcoin smart-contract". I think 60sat/b will always validate an ~80b tx; if not, and if it is financially interesting to do so, add a little bit on top to help motivate a miner so he includes the locked tx in a block. Anyway, we will all know very soon what to expect when the test Cryptobonds arrive.
This is awesome i hope they test well as i want one asap locked until my 17 month olds 18th bday lol
Thanks for your kind words ! Well, that would be one use of Cryptobonds for sure !! 18 years from now is quite so time ahead, it's almost twice as much as the whole BTC life so far. If you think that BTC will keep on running like it does today, and that it will increase in value, then yes; Cryptobonds are definitely a great way to pass on some crypto to close relatives and make sure they can't spend it in the meantime.
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seek3r
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February 28, 2020, 01:10:59 PM |
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Cant wait to have one of these in my hands. Sounds super interesting and gl for your project. And congrats to the happy tester to get in touch with this new project. If I can help you out with anything which is in my power, just hit me up. Lets gooooooo
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. .HUGE. | | | | | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . CASINO & SPORTSBOOK ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | |
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Jcga
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February 28, 2020, 08:49:45 PM |
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Glad to be on board for a testing review. "Coldkey Cryptobond - FIRST Timelocked Physical Bitcoin" Lovely idea of yours, Go Coldkey.
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Last of the V8s
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Be a bank
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February 28, 2020, 09:24:09 PM |
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Very confusing to call it a bond. Where's the income? Are opendimes not considered physical bitcoin? idk
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Ticked
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February 28, 2020, 09:51:59 PM |
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Yogg, Outstanding execution of a brilliant concept. I imagine the market for these could, in due time, extend far beyond the current collector circles as an alternative to a CD. I, for one, would like to gift these to many young family members. That said, I'm hoping production isn't overly limited. Care to share any insight regarding potential issuance?
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Kryptowerk
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Disobey.
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February 28, 2020, 10:02:36 PM |
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Oh damn, I love the concept! Yay, this is something Andreas talked about about 2+ years ago and it stuck in my mind as a sure-fire safing-option for BTC, but I haven't heard about it since then.
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TheBeardedBaby
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₿uy / $ell
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February 29, 2020, 01:25:04 AM |
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I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.
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phishead
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February 29, 2020, 05:35:10 PM |
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I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.
Normally it gets moved anyways to here since it would be labeled “off topic”. Edit: hahah why the hell would you “report” it? Is that offensive to you?
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Mitchell
Copper Member
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Verified awesomeness ✔
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February 29, 2020, 05:57:40 PM |
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I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.
As it's a limited (thus collectable) item, it belongs in this board. Otherwise you would need to report it for being in the wrong section. ... Edit: hahah why the hell would you “report” it? Is that offensive to you? I'm pretty sure they mean that they would normal report people who just say " Amazing project". A lot of account farmers/spammers do it on altcoin announcements (and the like).
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| | | . Duelbits | | | ▄████▄▄ ▄█████████▄ ▄█████████████▄ ▄██████████████████▄ ▄████▄▄▄█████████▄▄▄███▄ ▄████▐▀▄▄▀▌██▄█▄██▐▀▄▄▀▌███ ██████▀▀▀▀████▀███▀▀▀▀█████ ▐████████████■▄▄▄■██████████▀ ▐██████████████████████████▀ ██████████████████████████▀ ▀███████████████████████▀ ▀███████████████████▀ ▀███████████████▀ | | | | | . ▄ ▄▄▀▀▀▀▄▄ ▄▀▀▄ █ █ ▀▄ █ ▄█▄ ▀▄ █ ▄▀ ▀▄ ▀█▀ ▄▀ ▀█▄▄▄▀▀ ▀ ▄▀ ▄▀ ▄▀
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ChiBitCTy
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Very confusing to call it a bond. Where's the income? Are opendimes not considered physical bitcoin? idk
This is as close to a comparison as a bond as you're going to find in the collectibles space, so why not? I funded one of my Kialaras several years ago with the same thought in mind, it forces you to not spend the coins, which at the time I liked the concept because it reminded me of bonds. Sure you're not necessarily guaranteed to earn interest, but TECHNICALLY bonds aren't either ( I realize the safest investment on the planet is US Treasury Bonds but it's not like they are backed by gold anymore). The term physical bitcoin does not have a set in stone definition..and I've heard them being called physical bitcoins before. I guess you could also consider it a hardware wallet, but that term does not really fit perfectly either. I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.
I think it belongs here and I guess it could also fit in the wallets board, but where on the first page would this fit? Yoggy- awesome project, look foroward to testing it out!
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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yogg (OP)
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March 01, 2020, 11:47:36 AM Last edit: March 20, 2020, 01:36:52 PM by mprep |
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Very confusing to call it a bond. Where's the income? Are opendimes not considered physical bitcoin? idk
Hey Last of the V8s, thanks for your comment. It's just a name and not really the exact equivalent of corporate/treasury bonds in custodial finance, but there's the same spirit of locking funds now to retrieve them later. If "bitcoin" was an entity, among them all I think it would be the one I'd trust most as of today in our world. Also there's no income, let it be positive or negative. Negative interest rates for EU-govt equivalent of treasury bonds are a thing, so I think this can be a better savings alternative than a large range of instruments.
I imagine the market for these could, in due time, extend far beyond the current collector circles as an alternative to a CD. I, for one, would like to gift these to many young family members. That said, I'm hoping production isn't overly limited. Care to share any insight regarding potential issuance?
Yes ! There are many many things to do with these, potentially. In some way, Cryptobonds are "future BTC". We'll see I've been thinking about issuance, and I'm not ready to reply as of now yet. Most certainly, there will be a Collectible release soon.
I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.
Thanks a lot for your kind words iasenko, it is much appreciated ! I'm honored that you think Cryptobonds should be on the first page. I think maybe to post about it in other places, to bring some attention on how the test unfolds. I'm rather confident.
I will send an update next week to every tester. Thanks a lot everyone for your support ! I'm super happy that that the concept appeals to you all.
Bump with an update ! The test Cryptobonds are ready ! They have been shipped all together in an expedited manner to Mantis Warehouse. Each tester will receive his test Cryptobond most likely during next week.
As for the tests, each test Cryptobond is set to expire 144 blocks from each other. Here's the full list of Cryptobonds and the Block number that has been set as an expiry time : Serial Number | Block Expiry | Tester | 1 | #622080 | Krogothmanhattan | 2 | #622224 | Minerjones | 3 | #622368 | Lesbian Cow | 4 | #622512 | ChiBitCTy | 5 | #622656 | Sat0shisGhost | 6 | #622800 | Owlcatz | 7 | #622944 | Jcga | 8 | #623088 | Me (yogg) |
These Cryptobonds shouldn't be spendable before the block that they're locked to hasn't made it to the BTC blockchain. To all testers : Please try to execute the Cryptobond before expiry time, see what happens. Thanks a lot to everyone who accepted to test them Cryptobonds, please do redeem them when doable.
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LoyceV
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March 04, 2020, 09:21:58 PM |
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The test Cryptobonds are ready ! I really like how they turned out
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krogothmanhattan
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March 04, 2020, 09:24:59 PM |
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Great job Yogg!
Looking forward to receiving mine
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Jcga
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March 04, 2020, 10:05:34 PM |
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My mail box is ready. Nice looking Cryptobond cards.
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rxalts
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March 04, 2020, 11:08:57 PM |
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Yeah testers, plz do everything asap and ahead of schedule so the masses can get our fix AMAZING PREVIEW PICS!
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Mitchell
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March 04, 2020, 11:33:10 PM |
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Damn, those cards look like 🔥!
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| | | . Duelbits | | | ▄████▄▄ ▄█████████▄ ▄█████████████▄ ▄██████████████████▄ ▄████▄▄▄█████████▄▄▄███▄ ▄████▐▀▄▄▀▌██▄█▄██▐▀▄▄▀▌███ ██████▀▀▀▀████▀███▀▀▀▀█████ ▐████████████■▄▄▄■██████████▀ ▐██████████████████████████▀ ██████████████████████████▀ ▀███████████████████████▀ ▀███████████████████▀ ▀███████████████▀ | | | | | . ▄ ▄▄▀▀▀▀▄▄ ▄▀▀▄ █ █ ▀▄ █ ▄█▄ ▀▄ █ ▄▀ ▀▄ ▀█▀ ▄▀ ▀█▄▄▄▀▀ ▀ ▄▀ ▄▀ ▄▀
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Blackjack | | | | █▀▀▀▀▀█▄▄▄ ▀████▄▄ ██████▄ ▄▄▄▄▄▄▄▄█▀ ▀▀█ ████████▄ █ █████████▄ █ ██████████▄ ▄██ █████████▀▀▀█▄▄████ ▀▀███▀▀ ████ █ ███ █ █▀ ▄█████▄▄▄ ▄▄▀▀ ███████▀▀▀ | | | | | | | | | | [ Đ ][ Ł ] AVAILABLE NOW | |
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owlcatz
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March 04, 2020, 11:36:56 PM |
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This is great, thanks again Yogg... Now... Is there ANY Android app or widget for a simple/latest block number showing on my screen? Thanks!
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[/ce
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bitebits
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March 05, 2020, 04:21:49 AM Last edit: March 05, 2020, 04:40:36 AM by bitebits |
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Very nice yogg, eager to hear about the test results! Minor thing I would change because I try to avoid big privacy intruding companies, is to get rid of the word Google. I believe something more neutral like ‘Search’ would be sufficient (and maybe Google does not exist anymore or rebranded when the transaction can and needs to be spend). Edit some more minor things, do as you like - Normally the ‘:’ has no space after the word Instructions (same for AuthKey: and S/N:) - Sentence 1 misses a dot. - Sentence 4 says ‘privkey’, but under the hologram it says ‘private key’. - I would replace BTC for Bitcoin, mentioned 3 times.
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- You can figure out what will happen, not when /Warren Buffett - Pay any Bitcoin address privately with a little help of Monero.
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El duderino_
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BTC + Crossfit, living life.
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March 05, 2020, 11:11:41 AM |
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Looks very good and very nice yogg, will follow as well
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XhomerX10 designed my nice avatar HATs!!!!! Thanks Bro
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yogg (OP)
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March 05, 2020, 03:58:11 PM |
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Very nice yogg, eager to hear about the test results! Minor thing I would change because I try to avoid big privacy intruding companies, is to get rid of the word Google. I believe something more neutral like ‘Search’ would be sufficient (and maybe Google does not exist anymore or rebranded when the transaction can and needs to be spend). Edit some more minor things, do as you like - Normally the ‘:’ has no space after the word Instructions (same for AuthKey: and S/N:) - Sentence 1 misses a dot. - Sentence 4 says ‘privkey’, but under the hologram it says ‘private key’. - I would replace BTC for Bitcoin, mentioned 3 times. Thanks much bitebits for the suggestions and pointing out a few things ! I agree with you. "Search" is a much better term. I didn't think much about the instructions . I just typed them and it was it. When the tests expire I'll be around anyway. When making the test Cryptobonds, I thought it'd be better to have any kind of hints about what to do. That's why it is as it is right now, I needed to get them the tests done and instead of nothing I chose this, and this was it. Instructions will be be more elaborate for the release. They're only intended for the test as they are right now.
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Jcga
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March 05, 2020, 05:30:35 PM Merited by LoyceV (1), yogg (1) |
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Received. Beta test on its way.
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rxalts
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Is block height the only variable that can be used to determine the “unlock” date or can months, years, etc also be used? If only block heights, I think it would be very cool to release bonds based on the next few sets BTC halvings: 840k, 1.05m, and 1.26m. Possibly longer depending on interest from everyone.. Just an idea if it hasn’t already been mentioned
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SatsLife
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March 06, 2020, 04:28:06 AM |
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Thats 12-18 months too early based on previous @Halfin-ings and price.
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LoyceV
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March 06, 2020, 06:46:49 AM |
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Is block height the only variable that can be used to determine the “unlock” date or can months, years, etc also be used? Yes, but it's more tricky: As for how "hardcoded" that is, the documentation just says anything above 500 million... We're not going to see 500 million blocks in a few centuries, (what's that equivalent to anyway, ... )
So 10 years is about 500,000 blocks ... 1 million blocks is 20 years... so 500 million blocks would have been ten thousand years. That's my point: using a block number will work for a very long time, but using a UNIX timestamp I'm not so sure about: it's a 32 bit counter, and it has a Year 2038 problem. If you want to set a Locktime 25 years in the future, it's already not possible and you'll have to rely on future fixes (and assume the implementation will still work for you). That can be a very expensive mistake if it fails.
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yogg (OP)
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March 09, 2020, 09:53:15 AM |
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Is block height the only variable that can be used to determine the “unlock” date or can months, years, etc also be used? If only block heights, I think it would be very cool to release bonds based on the next few sets BTC halvings: 840k, 1.05m, and 1.26m. Possibly longer depending on interest from everyone.. Just an idea if it hasn’t already been mentioned We can determine the expiration of the Cryptobond either with : 1) Block height 2) Epoch timestamp
As LoyceV underlined it, the current format of what is universally used as a timestamp will not be good anymore in 2038 as it currently exists. I don't feel serene using that format to lock anything after 2035. (Assuming that BTC will work as it does today in 15 years) Using a timestamp with Cryptobonds isn't very elegant anyway, as there is a +/- 2h wiggle time that appears to be random, for the different nodes to consider the lock as expired or not. I believe that, when it comes to BTC mining, miners will take negative risks towards seeing their block rejected by the network, so they will wait a little bit more than what's necessary. That's why I mostly do not consider to make Cryptobonds based off a date & time, but rather based off a block.
144 * 365 = 52560 blocks/year Locking until currentBlock + (52560 * nbOfYears) block will expire around ~9th March in 2020 + nbOfYears. (The precision of this prediction gets worse as the nbOfYears gets higher since BTC block production follow Poisson's distribution)
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LoyceV
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March 10, 2020, 06:45:03 PM |
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Another option: https://coinb.in/#verify (can be used offline).
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owlcatz
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March 12, 2020, 11:01:39 PM Last edit: March 13, 2020, 11:27:02 AM by owlcatz |
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Edit - Never mind, answer is 2 posts above. I guess I was blind last night! Thanks again!
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. I C Λ R U S | | | | █████▄▄█████▄▄ ████████▀▀▀████ ██████▀█████▀███ ████████████████ ████████████████ ████████████████ ░▄█████████████████ ███████████████████ ███████████████████ ████████░░░▀▀▀▀▀▀▀▀ ████████▄▄▄████████ ███████████████████ █████████████████▀ | ░░░███ ▄▄▄███ ██████ ░░░███ ░░░███ ░░░███ ░░░███ ░░░███ ░░░███ ░░░███ ▄████████ ███▌░▐███ ████████▀ | | | | | █████████████████████ █████████████████████ █████████████████████ ██████▀▀▀▀████▀▀█████ █████░░▄▄░░██░░░█████ █████▄▄██░░███░░█████ █████▀▀▀▀░░▀██░░█████ ████░░░░▄▄▄▄█▀░░▀████ ████░░░░░░░░█░▀▀░████ █████████████████████ █████████████████████ █████████████████████ █████████████████████ | ████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ████ | ████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ████ | ████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ████ | | | | ████ ██
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[/ce
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yogg (OP)
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March 13, 2020, 03:57:19 PM |
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Edit - Never mind, answer is 2 posts above. I guess I was blind last night! Thanks again! Hey Owlcatz Thanks for your post ! I read the un-edited version but sorry I couldn't reply at that moment. Good if you understood / found the answer you were looking for. I can't wait for BTC to hit block #622,000 so tests will begin. It's currently sitting at #621,489. Krogoth's test Cryptobond should expire in ~4,1 days (prediction based on the production of 144 blocks / 24hr, which is uncertain)
You can try to broadcast the transaction, it should fail and not load the public address as long as the time-lock hasn't expired. When it expires, try again. Any error should have disappeared and the funds should arrive to the public address.
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krogothmanhattan
Cypher Hodl LLC
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The Stone the masons rejected was the cornerstone.
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I received this special Cryptobond card and followed the instructions provided which were very easily understood I scanned the large QR code with a QR code reader and got the following... 020000000001011c9f640abbfe92fbdf932470c6c948ed8a6f7c98e57de0100000000feffffff01a086010000000000160014c5805a462bdf668db3cd2f2a3d15e8ee365e6a0b0247304402204017c33d14075ae92551336f1142e1679a06ffcd41d550931c131f1f5271d8ab0220694fd7d7822e9ee407d8f28734f5a001057c899ab66074395fd41b0f6e0121037ad70bc502c9260cf5deb4b6724dc445ffc8bcae2f407768bf5a662b587ad80a007e0900 I pushed it thru the https://www.blockchain.com/btc/pushtx and got the following result at block 622080 has not arrived yet Code: -26, Error: non-final (code 64) I was also able to decode it as follows thru https://www.blockchain.com/btc/decode-tx which gave me the following.. { "version": 2, "locktime": 622080, "ins": [ { "n": 1, "script": { "asm": "", "hex": "" }, "sequence": 4294967294, "txid": "3e279cf19a01f34a2fa77de5987c6f8aed48c9c6702493dffb92febb0a", "witness": [ "304402204017c33d14075ae92551336f1142e1679a06ffcd41d550931c131f1f5271d8ab0220694fd7d3a903c7822e9ee407d8f28734f5a001051", "037ad70bc502c9260cf5deb4b6724dc445ffc8bcae2f407768bf5a662" ] } ], "outs": [ { "script": { "addresses": [ "qqrt1qckq9533tmangmv7d9u4r6906st" ], "asm": "OP_0 c805a462bdf668db3cd2f2a3d1565e6a0b", "hex": "0014c5805462bdf668db3cd2f2a3d15e8ee36" }, "value": 100000 } ], "hash": "781f354c9fb2ad7148d63f2b349126b1dbdc9c82255a594fd0650f", "txid": "7837bf354c9fb2ad7148d63f2b349126b1dbdc9c82255a594fd065" } I will update once I am able to succesfully broadcast this. I have also altered most of the numbers here so nobody can trace any tx or btc addy to protect my privacy. Thanks Yogg for this.. Cheers!
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krogothmanhattan
Cypher Hodl LLC
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The Stone the masons rejected was the cornerstone.
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March 18, 2020, 03:00:10 PM Last edit: March 01, 2024, 12:07:12 PM by krogothmanhattan Merited by Mitchell (5), yogg (3), LoyceV (2), Xprim777 (1) |
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Block 622080 has come and gone so I tried to submit again. This time the tx has sucessfully gone thru! The btc addy that had a zero BTC balance now has a 0.001btc value on it! Edit: I also successfully swept the 0.001 BTC from the private key into my Mycelium wallet as well
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Mitchell
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Verified awesomeness ✔
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March 18, 2020, 03:06:22 PM Last edit: March 18, 2020, 03:35:57 PM by Mitchell |
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Block 622080 has come and gone so I tried to submit again. This time the tx has sucessfully gone thru! [IMAGE] The btc addy that had a zero BTC balance now has a 0.001btc value on it! Edit: I also successfully swept the 0.001 BTC from the private key into my Mycelium wallet as well Very cool! Thank you for sharing Krogo and good job Yogg!
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| | | . Duelbits | | | ▄████▄▄ ▄█████████▄ ▄█████████████▄ ▄██████████████████▄ ▄████▄▄▄█████████▄▄▄███▄ ▄████▐▀▄▄▀▌██▄█▄██▐▀▄▄▀▌███ ██████▀▀▀▀████▀███▀▀▀▀█████ ▐████████████■▄▄▄■██████████▀ ▐██████████████████████████▀ ██████████████████████████▀ ▀███████████████████████▀ ▀███████████████████▀ ▀███████████████▀ | | | | | . ▄ ▄▄▀▀▀▀▄▄ ▄▀▀▄ █ █ ▀▄ █ ▄█▄ ▀▄ █ ▄▀ ▀▄ ▀█▀ ▄▀ ▀█▄▄▄▀▀ ▀ ▄▀ ▄▀ ▄▀
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yogg (OP)
Legendary
Offline
Activity: 2464
Merit: 3158
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March 18, 2020, 03:57:09 PM |
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Block 622080 has come and gone so I tried to submit again. This time the tx has sucessfully gone thru! [...] The btc addy that had a zero BTC balance now has a 0.001btc value on it! Edit: I also successfully swept the 0.001 BTC from the private key into my Mycelium wallet as well Hey Krogoth ! Thank you SO much for doing this test ! I imagine that going to the extend of actually redeeming the Coldkey wasn't easy for a recognized Collector such as yourself. Many many thanks for playing by the rules until the end. I am very happy that everything unfolded as expected. Funds were stucked, you were able to execute the smart-contract AND sweep the funds to another BTC address. That's great The rest of test Cryptobonds should expire one day from each other from now on. So much excitement !! Hah, thank you for everything. This part of Bitcointalk definitely always brighten up my day no matter what.
Very cool! Thank you for sharing Krogo and good job Yogg!
Thank you for the kind words Mitchell. Job is really only starting now that we know it works ...
Maybe a tester whose Cryptobond didn't expire yet can try to execute it ? Thank you
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Jcga
Legendary
Offline
Activity: 2590
Merit: 1089
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March 18, 2020, 06:25:24 PM |
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Hi Everyone, some cool crypto homework to do, so here we go : Block 622100 020000000001015aa37efc02dbd13df8dc729471f0b07d8100a29836afa7b195fe701ea58697da0000000000feffffff01a086010000000000160014c580fec3da05bfa94b17c2b063086bdbdd1f6ac902473044022029c16048db4f961543f6cf2a407ff3ae8cc21b178a083b8bc40eadcf1db5d1f80220140e389d4fefd879d4fa9328762a12fea764167018dba4f980dfc6a2e1872f710121030238ccbc52eacc745f92ecca9bd2d66efaa01ffb725aecd522209e38038274e960810900 Code: -26, Error: non-final (code 64) { "version": 2, "locktime": 622944, "ins": [ { "n": 0, "script": { "asm": "", "hex": "" }, "sequence": 4294967294, "txid": "da9786a51e70fe95b1a7af3698a200817db0f0719472dcf83dd1db02fc7ea35a", "witness": [ "3044022029c16048db4f961543f6cf2a407ff3ae8cc21b178a083b8bc40eadcf1db5d1f80220140e389d4fefd879d4fa9328762a12fea764167018dba4f980dfc6a2e1872f7101", "030238ccbc52eacc745f92ecca9bd2d66efaa01ffb725aecd522209e38038274e9" ] } ], "outs": [ { "script": { "addresses": [ "bc1qckq0as76qkl6jjchc2cxxzrtm0w376kf9cc53f" ], "asm": "OP_0 c580fec3da05bfa94b17c2b063086bdbdd1f6ac9", "hex": "0014c580fec3da05bfa94b17c2b063086bdbdd1f6ac9" }, "value": 100000 } ], "hash": "2d6c75d3d94a31de69164c5183faa4c341965e609886ac338fceb2661f78c298", "txid": "2d6c75d3d94a31de69164c5183faa4c341965e609886ac338fceb2661f78c298"
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krogothmanhattan
Cypher Hodl LLC
Legendary
Offline
Activity: 2520
Merit: 3236
The Stone the masons rejected was the cornerstone.
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March 18, 2020, 07:42:42 PM |
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Block 622080 has come and gone so I tried to submit again. This time the tx has sucessfully gone thru! [...] The btc addy that had a zero BTC balance now has a 0.001btc value on it! Edit: I also successfully swept the 0.001 BTC from the private key into my Mycelium wallet as well Hey Krogoth ! Thank you SO much for doing this test ! I imagine that going to the extend of actually redeeming the Coldkey wasn't easy for a recognized Collector such as yourself. Many many thanks for playing by the rules until the end. So true...I wept with sadness when I peeled...not used to doing this at all as I collect em intact...but I had to do it for this time...next time I buy these...never shall they be peeled
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yogg (OP)
Legendary
Offline
Activity: 2464
Merit: 3158
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March 19, 2020, 05:47:02 PM |
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16 blocks to go 9 more to go !! Can't wait. This experiment is soooooo exciting !! Thank you sir Mantis. Please, when the public address will have received the funds, do redeem the Coldkey and sweep the funds to another address. You can keep the BTC if you like. Thanks !!
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krogothmanhattan
Cypher Hodl LLC
Legendary
Offline
Activity: 2520
Merit: 3236
The Stone the masons rejected was the cornerstone.
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March 22, 2020, 11:07:08 AM |
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Just realized...my cryptobond is the first ever to be made and redeemed card made.
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yogg (OP)
Legendary
Offline
Activity: 2464
Merit: 3158
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March 22, 2020, 12:27:31 PM |
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Still not confirmed
Hey minerjones, I think I know what happened here. The block production was a bit slower than usual, this is why it took so long to reach the correct block height. Anyway, it's passed now. The fee on the locked transaction was 5000 satoshis (~60sat/b) which is more than enough to include a transaction when BTC runs normally. Can you please let us know how it went ? Were you able to sweep the locked funds ?
Just realized...my cryptobond is the first ever to be made and redeemed card made. Yes, absolutely ! It is the first ever Cryptobond on a card that has matured and been redeemed. Thank you sooo much Krogoth for going all the way through !!
Next cryptobonds to mature after mj's: #622368 Lesbian Cow #622512 ChiBitCTy #622656 Sat0shisGhost Current block height : #622537 Lesbian Cow's and Sat0shisGhost ChiBitCTy's should have matured. Sat0shisGhost's should be good tomorrow.
Given the worldwide situation, please stay safe first of all ... tests can wait. We are still working on the release in the background. Thank you everyone !
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ChiBitCTy
Legendary
Offline
Activity: 2254
Merit: 3007
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March 23, 2020, 02:46:12 AM Last edit: March 24, 2020, 05:12:49 PM by ChiBitCTy |
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Yoggy..Sorry was thinking the lock up was a bit longer...But well done good sir! First time I’ve ever broadcasted to the network, or used a smart contract. Very fn cool and quite unique! I have all sorts of ideas how this could be used out in the “real world”...that is when we can all rejoin it!
Noticed the updated holograms. Those are super secure! Way harder to remove than any holo I’ve ever peeled. Great job!
Will posts some pics shortly
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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yogg (OP)
Legendary
Offline
Activity: 2464
Merit: 3158
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March 24, 2020, 11:20:29 AM |
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Yoggy..Sorry was thinking the lock up was a bit longer...But well done good sir! First time I’ve ever broadcasted to the network, or used a smart contact. Very fn cool and quite unique! I have all sorts of ideas how this could be used out in the “real world”...that is when we can all rejoin it!
Noticed the updated holograms. Those are super secure! Way harder to remove than any holo I’ve ever peeled. Great job!
Will posts some pics shortly
Hey Chibi Well, it really depends on the pace of the new blocks that are found by BTC. I'm glad that the testing went well !! Thank you very much for playing the game until the end. Please, I'd absolutely LOVE to hear more about your ideas of how these can be used in the real world. Thanks. Really it's great to know that things are done the right way.
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MoparMiningLLC
aka Stryfe
Legendary
Online
Activity: 2072
Merit: 2223
EIN: 82-3893490
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March 24, 2020, 02:03:52 PM |
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this is a very cool way to use bitcoin! I see multiple uses on how this could be used to help store the value of bitcoin. good job!
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Lesbian Cow
Legendary
Online
Activity: 2968
Merit: 1752
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March 24, 2020, 03:32:25 PM |
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I finally got a chance to test drive the Coldkey Cryptobond. First, I love the concept. As an uncle to several I can see giving these as gifts. It is really as simple as following the step by step instructions printed directly on the Cryptobond. My locked transaction: 0200000000010120286afd0ba5cf5aa8186b3b25085808db028b518d1dff858777b3c7e97b385c0 000000000feffffff01a086010000000000160014c580f7e426632df79b4ea55dd4b1e578b3895d dc0247304402201bf313912f7201d0a61ff88ff708add6439cd1058b55d1d5d9f00646620c7d210 2200898f02a68fc457b8d0d474e6a1c9d51278de9173e96c65d9bfc7b265fc85c98012103be2db8 08a8cef4188bb411a2b1970014c90c15182ab9e7faf124100c9d14611f207f0900 I tried broadcasting before the locked block and it returned an error. Once the block occurred I was able to successfully broadcast the locked transaction. The final step was to peel the hologram and sweep the private key. The hologram has a clear film over it which required use of a razor knife to remove. No way anyone is getting at the private key without it being very apparent. I was able to then sweep the private key (qr code) into a Ballet Wallet cold storage card. Public address of the cryptobond: https://www.smartbit.com.au/address/bc1qckq00epxvvkl0x6w54wafv090zecjhwuhklcuqReally cool new product and very well executed. There is definitely nothing like it available.
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LoyceV
Legendary
Offline
Activity: 3304
Merit: 16593
Thick-Skinned Gang Leader and Golden Feather 2021
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I finally got a chance to test drive the Coldkey Cryptobond. I used your big picture to test the error correction on the locked transaction: when I cover about 5% of the image with my hand, my phone can still scan it. That's good
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owlcatz
Legendary
Offline
Activity: 3626
Merit: 1967
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March 24, 2020, 04:43:29 PM |
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Ok, my card unlocks in just a few blocks. However, I already broadcast it using blockypher. Strangely, it's accepted and shows the lock time as 622800... https://live.blockcypher.com/btc/tx/50b9d14f35394c23faf7c303d75111ba3d86c2f180fca1c78911b483725d10a2/Will update shortly once it hits or fails...
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[/ce
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owlcatz
Legendary
Offline
Activity: 3626
Merit: 1967
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March 24, 2020, 05:59:12 PM |
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Ok. https://www.blockchain.com/btc/tx/50b9d14f35394c23faf7c303d75111ba3d86c2f180fca1c78911b483725d10a2Must have worked - 5 blocks in advance! Awaiting confirmation, then will peel/update. Peeled and swept! Thanks so much Yogg! - Solid job, through and through!
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. I C Λ R U S | | | | █████▄▄█████▄▄ ████████▀▀▀████ ██████▀█████▀███ ████████████████ ████████████████ ████████████████ ░▄█████████████████ ███████████████████ ███████████████████ ████████░░░▀▀▀▀▀▀▀▀ ████████▄▄▄████████ ███████████████████ █████████████████▀ | ░░░███ ▄▄▄███ ██████ ░░░███ ░░░███ ░░░███ ░░░███ ░░░███ ░░░███ ░░░███ ▄████████ ███▌░▐███ ████████▀ | | | | | █████████████████████ █████████████████████ █████████████████████ ██████▀▀▀▀████▀▀█████ █████░░▄▄░░██░░░█████ █████▄▄██░░███░░█████ █████▀▀▀▀░░▀██░░█████ ████░░░░▄▄▄▄█▀░░▀████ ████░░░░░░░░█░▀▀░████ █████████████████████ █████████████████████ █████████████████████ █████████████████████ | ████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ████ | ████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ████ | ████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ████ | | | | ████ ██
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[/ce
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ChiBitCTy
Legendary
Offline
Activity: 2254
Merit: 3007
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Yoggy..Sorry was thinking the lock up was a bit longer...But well done good sir! First time I’ve ever broadcasted to the network, or used a smart contact. Very fn cool and quite unique! I have all sorts of ideas how this could be used out in the “real world”...that is when we can all rejoin it!
Noticed the updated holograms. Those are super secure! Way harder to remove than any holo I’ve ever peeled. Great job!
Will posts some pics shortly
Please, I'd absolutely LOVE to hear more about your ideas of how these can be used in the real world. We are over due for a chat, look forward to throwing them all at ya. Btw I sent the .001 BTC back to your Yogg wallet listed on your profile (from another wallet, didn’t want to wait for confirm). It’s better served going to your continued innovations with ColdKey. Can’t wait to see what’s up next!
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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yogg (OP)
Legendary
Offline
Activity: 2464
Merit: 3158
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March 31, 2020, 03:37:05 PM |
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Hey owlcatz Thanks for the test !! I'm glad it worked as planned. Hah ! Yes, when making my tests I also noticed that blockcypher push transaction feature will accept the transaction even if non-final. However, the bond works as expected : no miner will include the locked transaction into a block until it has properly matured; if they did, that block would be rejected by the network since it includes an invalid transaction.
Yoggy..Sorry was thinking the lock up was a bit longer...But well done good sir! First time I’ve ever broadcasted to the network, or used a smart contact. Very fn cool and quite unique! I have all sorts of ideas how this could be used out in the “real world”...that is when we can all rejoin it!
Noticed the updated holograms. Those are super secure! Way harder to remove than any holo I’ve ever peeled. Great job!
Will posts some pics shortly
Please, I'd absolutely LOVE to hear more about your ideas of how these can be used in the real world. We are over due for a chat, look forward to throwing them all at ya. Btw I sent the .001 BTC back to your Yogg wallet listed on your profile (from another wallet, didn’t want to wait for confirm). It’s better served going to your continued innovations with ColdKey. Can’t wait to see what’s up next! Thanks so much Chibi for testing the Cryptobond. Very cool that it worked as well ! I wasn't around much these last days, as I don't come to the office anymore because lockdown but yeah a chat is long over due now. I'll ping you soon.
We are currently making the first release of Cryptobonds ready for you soon. I expect them to be available sometime during April but definetely May at the latest. Thank you everyone !
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K-Paxian
Copper Member
Jr. Member
Offline
Activity: 272
Merit: 8
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March 31, 2020, 06:58:52 PM |
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omg so cool. How can the plebs here get one of these as well?
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MoparMiningLLC
aka Stryfe
Legendary
Online
Activity: 2072
Merit: 2223
EIN: 82-3893490
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