pull down to refresh
555 sats \ 3 replies \ @south_korea_ln 12 Mar 2024 \ on: time lock bitcoin
If the locktime number is 500,000,000 or greater, it is interpreted as a Unix timestamp (the number of seconds since January 1, 1970, UTC). This means the transaction can be included in the first block with a timestamp greater than or equal to the locktime value.
And to be complete, even though it does not apply to your example.
If the locktime number is less than 500,000,000, it is interpreted as a block height. This means the transaction can be included in the first block with a height greater than or equal to the locktime value.
And for calculation purposes:
- Convert the locktime Unix timestamp to a date and time.
- Determine the current block's timestamp.
- Calculate the difference in time between the locktime and the current block's time.
- Divide the time difference by the average block time (about 10 minutes) to get an approximate number of blocks you'll need to wait.
reply
Wow, thanks, so 537,366,974 is approximately 17 years after 1970 which means now there is no restrictions for the transaction to pass through?
reply
Yeah, it looked like 1987 when i first calculated, so I edited it as I thought I maybe made a mistake... maybe there is a detail I am missing, but from the looks of it, it seems like there is no restriction indeed. I am no expert, so let's see if anyone more knowledgable shines in.
reply