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113 sats \ 2 replies \ @nullcount 2 Feb \ on: What’s the safest way to hold your btc? AskSN
Well, we don't have vaults onchain yet, so... I'm gonna go with Timelocks.
Any other scheme (multisig, etc) is essentially just a different approach to the key management problem.
Timelocks might be the only way to add security (i.e. some assurance that your holdings will not be spent in an unauthorized way) irrespective of how you manage they key(s).
Could you elaborate a little bit more about using time locks?
What wallet do you use?, what kind of tine locks do you use?, does the time locks allow you to broadcast the transaction?, could you use the UTXO on another txt?
Thanks
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LockTime in Electrum wallet is referring to the
nLockTime field of the transaction. The base protocol dictates that the transaction cannot be included in a block until nLockTime. So this sets a timelock on the TRANSACTION not on the UTXO. To set a timelock on a UTXO, you need use either CLTV (BIP65) or CSV (BIP112).I'm excited for MiniScript adoption as it can make it easier to create and share advanced timelock scripts.
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