You effectively lock your coins away until a certain date, or for a certain period. For example I could time lock 5btc for a year and although I would retain ownership, I could not move them until the time had lapsed.
lol how did you get 13 votes already! do you have a big follwoing? thats crazy.
Thank you for explaining that, is there a place to do that at? I see on coinbase they have something called the Bitcoin Vault. Never knew what it was.... OR is it just something people do on their own? like a cold wallet and never touch something until a dedicated time?
It is probably done using some smart contract. In other words, your coins are inaccessible (can not be used/transferred) given a certain requirement. (For example after a particular date.)
I haven't researched how to do it though. It would be nice if their is a wallet where the feature is ready built in with user friendly interface and clear easy to follow instructions.
Iam not aware of any wallet offering this. I agree that smart contracts can offer this but I haven't used them.
I prefer to have control over my coins in case I really need to sell (need to pay for medical treatment etc) but not make it so straightforward that I sell on every piece of news. My coins are stored on a Trezor that is locked away. I have a watch only wallet on my computer so I can keep track of them.
You effectively lock your coins away until a certain date, or for a certain period. For example I could time lock 5btc for a year and although I would retain ownership, I could not move them until the time had lapsed.
lol how did you get 13 votes already! do you have a big follwoing? thats crazy.
Thank you for explaining that, is there a place to do that at? I see on coinbase they have something called the Bitcoin Vault. Never knew what it was.... OR is it just something people do on their own? like a cold wallet and never touch something until a dedicated time?
It is probably done using some smart contract. In other words, your coins are inaccessible (can not be used/transferred) given a certain requirement. (For example after a particular date.)
I haven't researched how to do it though. It would be nice if their is a wallet where the feature is ready built in with user friendly interface and clear easy to follow instructions.
Iam not aware of any wallet offering this. I agree that smart contracts can offer this but I haven't used them.
I prefer to have control over my coins in case I really need to sell (need to pay for medical treatment etc) but not make it so straightforward that I sell on every piece of news. My coins are stored on a Trezor that is locked away. I have a watch only wallet on my computer so I can keep track of them.
Me too ;-).
You can lock you bitcoins into a wallet and can't be spent no matter what untilt he specified time. Takes python coding knowledge.