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Topic: Howto: Creating a delayed bitcoin transaction (Read 1496 times)

hero member
Activity: 1582
Merit: 502
You can create a delayed bitcoin transaction quite simply.
Don´t pay trancastion fee.  Grin


^^^ This.
No need for other methods  Wink
member
Activity: 116
Merit: 10

Warning!!! You can lose bitcoins.
Too risky, the step is too much, "Send 0.1 BTC to address ADDRESS1" its so big amount Roll Eyes

~iki

I guess the "risk" lies more on the side of "creating a raw transaction in command line" rather than in the "delayed transaction" concept itself.
hero member
Activity: 686
Merit: 500
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Warning!!! You can lose bitcoins.
Too risky, the step is too much, "Send 0.1 BTC to address ADDRESS1" its so big amount Roll Eyes

You can create a delayed bitcoin transaction quite simply.
Don´t pay trancastion fee.  Grin


Agree. This is the easiest way to create delaye bitcoin trasaction Grin lol


~iki
sr. member
Activity: 434
Merit: 250
Loose lips sink sigs!
Forgive the newb question here, why would you want to delay the transaction?

Is this a precursor to timed or automatic payments or transactions?

To force yourself to save maybe, or to fulfill a will.

It's not really exactly timed nor automatic.
It's fixed to a block number so you can estimate a date and time but it wouldn't be exact at all, only approximate.
And it's not automatic, you need to store the the signed transaction and then manually broadcast after the target block.

However a service could be created where you can send the signed transaction and it would automatically broadcast when the time has come.



This would be perfect for annuities, structured settlements (from lawsuits and such), trust payments, bill payments, payroll processing...wow, lots of options. Thanks for educating me.
legendary
Activity: 1862
Merit: 1469
Forgive the newb question here, why would you want to delay the transaction?

Is this a precursor to timed or automatic payments or transactions?

To force yourself to save maybe, or to fulfill a will.

It's not really exactly timed nor automatic.
It's fixed to a block number so you can estimate a date and time but it wouldn't be exact at all, only approximate.
And it's not automatic, you need to store the the signed transaction and then manually broadcast after the target block.

However a service could be created where you can send the signed transaction and it would automatically broadcast when the time has come.

sr. member
Activity: 434
Merit: 250
Loose lips sink sigs!
Forgive the newb question here, why would you want to delay the transaction?

Is this a precursor to timed or automatic payments or transactions?
legendary
Activity: 1862
Merit: 1469
You can create a delayed bitcoin transaction quite simply.
Don´t pay trancastion fee.  Grin


LOL funny and true.
When I first got started in 2013 I sent a dust amount like 0.00001 with no tx fee. (yea I didn't know what I was doing) It took over a month before it's first confirmation.

Is that even possible? I thought transactions were reverted if no miner included it on a block in a few days.
legendary
Activity: 1442
Merit: 1179
You can create a delayed bitcoin transaction quite simply.
Don´t pay trancastion fee.  Grin


LOL funny and true.
When I first got started in 2013 I sent a dust amount like 0.00001 with no tx fee. (yea I didn't know what I was doing) It took over a month before it's first confirmation.
member
Activity: 116
Merit: 10
You can create a delayed bitcoin transaction quite simply.
Don´t pay trancastion fee.  Grin


Haha.

Broadcast and pray.
sr. member
Activity: 462
Merit: 250
You can create a delayed bitcoin transaction quite simply.
Don´t pay trancastion fee.  Grin
member
Activity: 82
Merit: 10
Picture this: Francisco de Quevedo.
Ingenous stuff, sounds like private detective stuff.

Now for me it's rather academic, surely one time or another I will find a way to leverage this clever
method.

S.
full member
Activity: 202
Merit: 100
Kudos for this howto: very easy to follow.
member
Activity: 116
Merit: 10

I see this is to "authorize" destination address to broadcast the transaction where the coins are sent to him.

There's no way to automate that, is it? I mean in the  bitcoin protocol itself. Of course such a service could be developed.


Yeah. The "owner" of the destination address must broadcast the transaction.
legendary
Activity: 1862
Merit: 1469

I see this is to "authorize" destination address to broadcast the transaction where the coins are sent to him.

There's no way to automate that, is it? I mean in the  bitcoin protocol itself. Of course such a service could be developed.
member
Activity: 116
Merit: 10
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