What is Bitcoin's locktime feature and what are some example use cases?
And how can a user make use of this new feature? Is it in any gui wallet? And how would one use it in the command line if its the only option?
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Does https://bitcoin.stackexchange.com/q/23792/5406 answer your question? – Murch Feb 29 '24 at 19:30
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Like a cheque with a date in future, a Bitcoin transaction with locktime cannot be unlocked (read cashed) before that date. The definition in bitcoin.org is pretty clear
Part of a transaction which indicates the earliest time or earliest block when that transaction may be added to the block chain.
Sample use case is a cautionary deposit. For a great example see micropayment channel protocol implemented by bitcoinj and described here:
Davide C
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1well, reedited with Alice and Bob. Not easy to explain without the proper actors – Davide C Feb 25 '16 at 22:56
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a coin is a sum linked to the output of a past transaction and that can be spent becoming the input of another. – Davide C Feb 25 '16 at 23:25