1. 120-blocks limit is not a network-enforced rule, only the "official" client works that way. Network-enforced period is somewhere around 101 blocks.
I find that rather disturbing that you of all people would make that statement.
Well, it's expected that I know how mining works :)
The code in the current client indeed does say:
static const int COINBASE_MATURITY = 100;
& in GetBlocksToMaturity():
return max(0, (COINBASE_MATURITY+20) - GetDepthInMainChain());
and the earliest src I have on my computer at the moment: bitcoin-0.3.19, says that also.
Of course I can write my own client to create a transaction worth 100 times my BTC balance, but no one's clients would accept it because that breaks the "Bitcoin rules"
Why do you think it says "COINBASE_MATURITY = 100" instead of 120 ? :)
Official client won't create TXes with coins younger than 120, but will happily accept at 101.
// If prev is coinbase, check that it's matured
if (txPrev.IsCoinBase())
for (const CBlockIndex* pindex = pindexBlock; pindex && pindexBlock->nHeight - pindex->nHeight < COINBASE_MATURITY; pindex = pindex->pprev)
if (pindex->nBlockPos == txindex.pos.nBlockPos && pindex->nFile == txindex.pos.nFile)
return error("ConnectInputs() : tried to spend coinbase at depth %d", pindexBlock->nHeight - pindex->nHeight);
And no, you won't "certainly" have the BTC at 120 blocks because the block can be orphaned. This should be checked by a special routine and re-sent if something happens.
Yeah OK, of course orphaned blocks can mean delays, however that is the whole point of the 100+20 code to ensure that the probability of a coinbase generation ever being orphaned once it gets to 120 confirms is so unlikely that it doesn't matter.
No, it's not how it works.
If I send normal TX and the block with it gets orphaned, this TX will be automatically re-mined again.
But if block with coinbase TX is orphaned, this TX won't be re-mined automatically and I'll need to check it after 100 blocks and if it's lost then there is another 20 hours period to wait.
2. I'll repeat my question for the THIRD time: Why do you think that coinbase payments are better than sendmany ?
I thought I had already answered that :P
Edit: even when compared to a sendmany, a coinbase payment is smaller per payment.
No, it's not. Why do you think it is ?
. But alas I didn't. 
