Wallet with a lock/freeze time | Bitcointalksearch.org

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: VieleSind on September 17, 2017, 02:24:42 AM

Quote from: Pursuer on September 17, 2017, 02:08:10 AM

there is an option that "you" can freeze your funds yourself but I am not getting into that now because this is not what you ask.

It is exactly what the topic is all about

hmm! but you asked how the client can ask the wallet provider to block/freeze your money. maybe I am just confused Cheesy

anyways, this is what I had in mind:
OP_CHECKLOCKTIMEVERIFY https://github.com/bitcoin/bips/blob/master/bip-0065.mediawiki
when it is used, it makes a transaction unspendable until the time is reached. effectively it freezes the funds for a specific amount of time. but it freezes a transaction output.

there may be wallets with this option, but the only tool that I know of is this: https://coinb.in/#newTimeLocked

VieleSind

sr. member

Activity: 434

Merit: 250

Quote from: Pursuer on September 17, 2017, 02:08:10 AM

there is an option that "you" can freeze your funds yourself but I am not getting into that now because this is not what you ask.

It is exactly what the topic is all about

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

a bitcoin wallet? No, there is nothing a client can do to freeze "your" funds. when using bitcoin you are in full control of all your money. there is an option that "you" can freeze your funds yourself but I am not getting into that now because this is not what you ask.

BUT, people usually call things that are not a wallet as a wallet by mistake. services such as Coinbase or for example an exchange are not bitcoin wallets. these can freeze your funds because they are not wallets, and you have no control over anything. you just have an account with a third party that can do whatever they want with "your funds" because they control it not you.

in short if you control the private keys you control bitcoin. if not, the person/service that has control over the keys controls the funds.

tyuner4

full member

Activity: 322

Merit: 179

Yes the wallet providers can freeze your wallet for any reason if you do not have access to your coins. So it is important to get a wallet where you own the private key and the wallet providers cannot access your private key.

One example is myetherwallet, the software do not have access to your private key.

VieleSind

sr. member

Activity: 434

Merit: 250

It is still actual

VieleSind

sr. member

Activity: 434

Merit: 250

Is it even possible for some BTC wallet providers to block/freeze your money at the request of the client for some period or when a specific amount of money is reached?
When nothing maleficent has happened, but you want to freeze the sum for some day without possibility to spend, but with ability to receive

Topic: Wallet with a lock/freeze time (Read 264 times)