I'm interested in using the Lock_time facility in Bitcoin, upon reading the Wiki, it appears it has been discontinued although I have to admit most of the discussion was beyond me.
anyway, what I want is a facility where I cannot be tempted to spend my BTC until 2 yrs down the line, and ys I know Bitcoin may not be around in 2 yrs or have been superseded by some other cryptocurrecy.
I know I can send transactions from http://brainwallet.org
Can anyone tell me, is it possible to tie up Bitcoins in this Fashion.
What I might like to try is take 0.5 BTC and send myself 5% of this every month to an address I control thus generating a Monthly income, which because of the deflationary nature of Bitcoin MIGHT increase month on month.
To do this I'd have to chop the 0.5 BTC up into 0.025 amounts and Time_lock them at some Block rime in the future and then send the next 0.025 BTC to a later time etc etc. So for a period of 2yrs, I'd receive 0.025 (minus current transaction fees for each transaction) into my controlled address
Essentially, given that Lock_time appears from the Wiki to have been discontinued, can I do something like this and how would I do it.
Thanks in advance.
Topic: Lock_time use (Read 492 times)
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