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Questions tagged [checklocktimeverify]

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3
votes
1answer
59 views

Clarification on execution of complex script with OP_CHECKLOCKTIMEVERIFY

I'm quoting this example of BIP65 BIP 65 has this bitcoin script code IF <now + 3 months> CHECKLOCKTIMEVERIFY DROP <Lenny's pubkey> CHECKSIGVERIFY 1 ELSE 2 ENDIF <...
1
vote
1answer
72 views

How to make a transaction with locktime on testnet?

I tried to make transaction with nLocktime on bitcoin testnet. I am not able to broadcast it. Can someone please help me to make a basic transaction with 1 input and 1 output, so that I can broadcast ...
4
votes
1answer
75 views

How can I make transaction output time locked?

Is it possible to submit some coins to some address and make them spendable after some period of time? Like I want submit 1btc to address 1Kc24m... and make that output to be spendable after january ...
2
votes
1answer
86 views

Why CHECKLOCKTIMEVERIFY and CHECKSEQUENCEVERIFY opcodes have to be succeeded with DROP Opcode?

Opcodes that end in VERIFY generally do not leave anything on the stack. What's so different and the reasoning when designing these opcodes that CHECKLOCKTIMEVERIFY and CHECKSEQUENCEVERIFY opcodes ...
4
votes
1answer
46 views

Is the bit encoding format for the graphic in BIP 68 implicitly little-endian?

CLTV (OP_CHECKLOCKTIMEVERIFY - absolute locktime) and CSV (OP_CHECKSEQUENCEVERIFY - relative locktime) utilize BIP 68. Is the locktime for those two operations implicitly encoded in little-endian ...
1
vote
0answers
199 views

Locktime requirement not satisfied when locktime set to 1 in p2sh

I've created the following script on testnet: OP_IF 2 <pubkey1> <pubkey2> <pubkey3> 3 OP_CHECKMULTISIG OP_ELSE 1 OP_CHECKSEQUENCEVERIFY OP_DROP <pubkey1&...
1
vote
2answers
54 views

BIP 113 - monotonic guarantee

BIP 113 mentions: Existing consensus rules guarantee this value to monotonically advance, thereby removing the capability for miners to claim more transaction fees by lying about the timestamps of ...
1
vote
1answer
318 views

How do I use CHECKLOCKTIMEVERIFY to prevent a transaction being spent before 100 blocks?

I'm creating a Bitcoin based lottery application. An entry into the lottery is a transaction spending 1BTC. If someone guesses some arbitrary value correctly, they can claim the entry and send this ...
7
votes
3answers
2k views

Why is OP_CHECKLOCKTIMEVERIFY disabled by maximum sequence number?

In the code for OP_CHECKLOCKTIMEVERIFY i noticed that if the txin sequence number is maxxed out then the script will fail to validate. I'm wondering what the point of this is? Why would anybody ever ...
1
vote
0answers
172 views

CLTV vs nLockTime

What is the difference between nLockTime and CLTV? Bitcoin Wiki says: When the CLTV opcode is called, it will cause the script to fail unless the nLockTime on the transaction is equal to or greater ...
1
vote
2answers
160 views

Mastering Bitcoin: Advanced Scripting Question

At the end of Mastering Bitcoin Chapter 7. https://github.com/bitcoinbook/bitcoinbook/blob/second_edition/ch07.asciidoc#complex-script-example They ask this question in regards to the script: How do ...
2
votes
1answer
134 views

What OP code can I use in the scripting system to make a smart contract that acts similar to a lottery

I am trying to make a smart contract that acts similar to a lottery or gambling game. Here is an example: Alice and Bob send funds to a P2SH address. Bob is the lottery. The funds needs to be locked ...
3
votes
1answer
550 views

Sequence number semantics

Reading the following BIPs: 68, 112, 125, I got a few questions about the sematics of sequence numbers. As far as I understood, in version 1 transactions, sequence numbers have the following meaning: ...
1
vote
2answers
90 views

Is it safe to keep ONLY a time-locked tx?

What if the tx become incompatible with future versions of Bitcoin? In which cases it would just stop being compatible? If there is no compatibility guarantee, how can this be useful at all?
2
votes
2answers
673 views

Can you “undo” an nlockTime transaction by spending a single UTXO of it before lockTime's block happens?

Let's say I have a wallet X with money from 3 unspent outputs (UTXOs) A, B and C. I make an nlocktime transaction to spend 2 of my 3 UTXOs (A & B) to wallet Y, 1 month in the future, sign it, and ...
4
votes
1answer
1k views

Is my understanding of locktime correct?

I have been trying to understand locktimes and sequence numbers. I'm gradually building up a picture in my head based on code, code comments and info on the web. Rather than asking lots of questions, ...
2
votes
1answer
580 views

Do transactions including CHECKLOCKTIMEVERIFY get mined immediately?

As I understand it, nLockTime prevents transactions from being included in a block, or even relayed. The problem is, if I pre-sign a transaction, and give it to someone, they have no guarantee that I ...
3
votes
1answer
84 views

Can I program OP_CHECKLOCKTIMEVERIFY to trigger based on external verifiable events?

Can OP_CHECKLOCKTIMEVERIFY and multi-sig be used to trigger a transaction based on external verifiable events? Some potential uses I have in mind: Death College graduation of a child or grandchild ...