Topic: More information about LockTime? (Read 254 times)

Thanks a lot for your all your answer, I really appreciate your help.

Glad to help .
The rationale behind nLocktime in Bitcoin Core is because they want to discourage fee sniping and they want to discourage major block re-orgs. Ie. Bad for Bitcoin. It should be the same in the case of the exchange. No harm is done if the block height at the point of sending is higher.
bitcoinfees.21.co is pretty much your best estimation tool. A block can fit roughly 2000 transactions and your transaction pays 251.4 satoshi/byte. You have a hell lot of transactions to be cleared before yours.

With this fee it should confirm anywhere between an hour to more than a day.

Is there a way to see network status and calculate the current average time to get confirmation depending of the transaction fee?[/quote]
See https://bitcoinfees.21.co/ for Unconfirmed transactions and fees.

Got it ! Thanks a lot for your answer... this is very technical for newbies, guess I'll be learning everyday
I really wonder what's the point setting up a LockTime? specially when you are an exchange and your customer are stress to withdraw their funds.

In my situation the LockTime was set to 481904, and latest block Height on BlockChain.info is higher (481973)
So I understand it mean the LockTime is over and I should see the first confirmation coming, but nothing yet (it's been few hours already)

The sender set a Transaction Fee to 0.001675 BTC.
https://blockchain.info/tx/9a9453c44273cbe4d6121c32e55d44c69bb4e58806a69486e8d46c9ee3795751

Is there a way to see network status and calculate the current average time to get confirmation depending of the transaction fee?

On the forum somewhere, you have to find it yourself.
nLocktime is basically the last 4 bytes of the transaction where the sender can set the time when he allows miners to confirm the transaction. The last 4 bytes of a raw unsigned transaction can be changed to either a block height or Unix time (using little endian integer IIRC). The transaction will have it disabled if the sequence is 0xffffffff.
For example, my transaction without nLocktime:
0100000001f6af7d4d9f5a900403123804a704054c5d1ec53d4cc7479473479bd1d7f7ae3a00000 0008b483045022100bb09c160c0a601d87e59750c403ef15029c05c1f88d3cb8c7457f3c2c7d5cd 7b022052956b4b6c53ba3111705ccb92f3ffcfbc4d277ecc9b4d5931f7fbaa9d2a762c014104f15 d944223addbff8770d13d16e2f6e4fdd76b2505635534bb847b506629c47a4df4278614bf94dcb0 d8fb474d6937bb72f3f52ff17de7b15aefc81161991bc6ffffffff0217e50300000000001976a91 45811d7fc35d0286b98e9c609629a3823cc4fac3788acc0c62d00000000001976a9140e4ff9a6e0 22d2c476f14de986fc2a603c2b2abc88ac00000000

Transaction with nLocktime
02000000033639b3971d606f76f0de969787ff510019e5c6b517a278dbe82210236de8f99c01000 0008b4830450221009357d5ca2317e0c3ec792effa27075440cf6e7e5327561d0974d1c11dec15c e1022015cf1d84169c5aa4a3fe8b11808af8e6e70f17223334f8ba7e49414d83a11412014104f15 d944223addbff8770d13d16e2f6e4fdd76b2505635534bb847b506629c47a4df4278614bf94dcb0 d8fb474d6937bb72f3f52ff17de7b15aefc81161991bc6feffffff65cefe509abe0bbfd47dde92a eeeb547b9c526778eee0fdc032f3b7be6c60207010000006a4730440220197631c4f265a21ff693 1c1a5882b95856b86d5bff85334206b086069f3d25b302207e6039e48962e3ed8ce2a71228507c0 14e9497f54fa29c0519f3ab004e468d57012103ba1b503cf79a8bf8e61a104f66a4f00c97128c59 783210aa1e8ee38d26199788feffffff5aa95fa8a709d95d99b24d316995331a9f0d7799eb33049 7fb75579898b280541b0000008b483045022100e58df64e32cba04152eb531870140563279e4038 0e30603bb8f407c751059d3f022015ffdb79977a8e7d2e3500e3c44fe9c8217236698eb3711d10c 936a0757d9847014104f15d944223addbff8770d13d16e2f6e4fdd76b2505635534bb847b506629 c47a4df4278614bf94dcb0d8fb474d6937bb72f3f52ff17de7b15aefc81161991bc6feffffff018 fa82b03000000001976a91471ff8b5eaab01a7b56655e77dcb77723c1ed74e888aca4520700

Not at all. It can be defined by the sender.
You can expect the transaction to be confirmed ONLY after that specified block height or unix time.

Tl;dr, its a function that doesn't allow miners to include your transaction in their block before a specified time or block height.

Is there any good URL you can share with me to learn more about "TimeLock" on a Transaction ID.

On this Transaction:
https://btc-bitcore3.trezor.io/tx/9a9453c44273cbe4d6121c32e55d44c69bb4e58806a69486e8d46c9ee3795751

I can see LockTime set at 481904

What is that exactly? Who define the LockTime?
Is it automatically correlated with the Transaction Fee? or set/defined by the Sender?

And basically when we can expect this transaction to be confirmed, and/or unlocked?

Thanks in advance for your answer.