Learning-Bitcoin-from-the-Command-Line/9_1_Understanding_Timelock_Options.md

9.1: Understanding Timelock Options

NOTE: This is a draft in progress, so that I can get some feedback from early reviewers. It is not yet ready for learning.

In §6.4: Sending a Transaction with a Locktime, nLocktime provided a great basis for locking transactions so that they couldn't be spent until some point in the future — based either on time or blockheight. But, that's not the only way to put a timelock on a transaction.

Understand the Limitations of nLockTime

1. [whole transaction]
2. [can't even be put on network]

Understand the Possibilities of Timelock Scripts

[a script locks a single output] [can be used for as part of more complex redemption conditions]

• largely depend on conditionals in next chapter

here's a catch: [can't be negative; make available in the future, but not the converse]

CLTV

[like nLockTime, but for a single output]

CSV

[relative time]

Summary: Understanding Timelock Options