21 votes
Accepted

Does Monero offer an equivalent of Check Lock Time Verify transactions?

There is a command to lock coins when you make a transaction by RPC in simplewallet. I don't think it's implemented in the command line interface. It's the unlock_time parameter in the JSON RPC ...
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  • 4,373
14 votes
Accepted

Provably burning Monero

One way to do this is to use a very large unlock time. An unlock time value is either a block number (you can select one as large as ~1900 years from now, which is arguably not burned forever, ...
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  • 34.6k
11 votes

What are some use cases for setting a transaction unlock time?

Setting an unlock time has many possible uses such as but not limited to: Scheduling annuity payments Providing a child with spending money for an upcoming vacation while ensuring it cannot be spent ...
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  • 217
9 votes

What would be reasons to further increase block time?

If orphan levels increased or were above some tolerable threshold, an increase in block time would help alleviate the situation. This answer to a question about unlocked balances explains Monero's ...
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  • 2,471
8 votes
Accepted

What would be reasons to further increase block time?

What would be good reasons to further increase block time in the future? A couple good reasons would include if pools were experiencing a lot of orphaned blocks or if blocks were routinely empty. ...
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8 votes
Accepted

Is it possible to remove unlock_time for a transaction?

Yes. You need overwrite the transaction with another transaction sans unlock_time. If the transaction in question is already in a block, then you'll need to reorganize the blockchain to the depth ...
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  • 2,422
7 votes
Accepted

How exactly does "unlock_time" work?

A transaction with a non default unlock_time will be mined as normal. However, its outputs will not be able to be used as inputs in another transaction before that time (which can be either a ...
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  • 34.6k
7 votes
Accepted

Will unlock_time lock sender wallet balance?

Yes, it will be locked for the same amount of time. This is because the wallet had split some of the inputs into 2 amounts: one which it sent to the destination, and one which it sent back to ...
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  • 19.8k
7 votes
Accepted

How do I split my wallet into smaller denominations?

You can do this by using the transfer_original command. The default transfer command will not split, but seems to be aggregating all the amounts going to the same address in a single denomination. ...
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  • 19.8k
6 votes
Accepted

If I need to send a bunch of transactions, how can I stop the wallet from using my entire balance as change during the first transaction?

There's no direct way, but there could be a workaround. The protocol doesn't limit the number of inputs/outputs. So, you could split the first transaction into many outputs where some (or all) of ...
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  • 19.8k
6 votes
Accepted

Protecting myself from myself

This isn't available in the wallet software yet, but it is technically possible to set an "unlock_time" on a transaction: How to use unlock_time? The idea being that you could pass a future date in ...
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  • 1,257
5 votes
Accepted

Unlock time clarity

Question: is the unlock block height the first block that an output is spendable, or the last block it is unspendable? ... can the coinbase be spent in block 61 or must it be at least block 62? 61.
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  • 17.4k
5 votes

What are some use cases for setting a transaction unlock time?

The main use is as Commitment Devices; that is when you (or someone else) don't trust yourself with your own short term decisions and impulsiveness. For example: 1) Compulsory savings plan: you, or ...
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  • 3,327
5 votes
Accepted

Is the 10-block lock time a protocol rule? What rules accompany it?

A. Is this a wallet rule or a protocol/daemon rule? It's a wallet / daemon rule. The number of blocks is defined as a pre-compiler constant CRYPTONOTE_DEFAULT_TX_SPENDABLE_AGE. B. Does the rule only ...
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  • 19.8k
5 votes
Accepted

Why are coinbase transactions locked for 60 blocks?

As far as I understand, this is to make sure that the coins were mined on the longest blockchain, and thus the longer "delay" of 60 blocks is meant as a safeguard against transactions becoming invalid ...
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  • 4,489
4 votes
Accepted

How to use unlock_time?

It's a field in the rpc call to send a transaction, see here: https://github.com/monero-project/monero/blob/0edcbf6716cdfd2ea5439a7788cca0041b40a2e2/src/wallet/wallet_rpc_server_commands_defs.h#L124 ...
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  • 4,373
3 votes
Accepted

How many blocks must miners wait before spending the block subsidy?

The Coinbase can be spent after 60 blocks. See CRYPTONOTE_MINED_MONEY_UNLOCK_WINDOW
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3 votes

Suggestions on how to consistently get more outputs?

Take a look at a response to issue #2351: You can send 50 monero 20 times in one tx to yourself (make sure you have set merge-destinations to 0 first). This will break up the 1000 output. Also ...
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3 votes
Accepted

Danger of using a very long unlock time

There is no danger. The answer you quoted states that the transaction would be mined and confirmed like any other transaction. The sender can prove this with the same methods (payment IDs, etc) as any ...
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  • 6,533
2 votes
Accepted

How long are mining rewards locked on testnet?

If the rules are the same as on the main network, you need to wait 60 blocks (ca. 2 hours) to see the balance unlocked for coins that you mine. For normal transactions, the balance is locked for 10 ...
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  • 2,158
2 votes
Accepted

Monero coins locked after sending money

New outputs are locked for 10 blocks (unless the sender selects more), which is about 20 minutes on average. If all your monero is in a single output, then sending it will lock your entire balance for ...
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  • 34.6k
2 votes

How can I automatically sell Monero? What about the balance locking?

How can I automatically sell Monero? This is a little vague. What are you selling Monero for? Assuming you are selling Monero for some other cryptocurrency, you can still sell with zero-conf if you ...
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  • 17.4k
2 votes

Will we eventually get rid of "locked" and "unlocked" balances?

The amount which remains unlocked after a transaction depends on the number of unspent outputs (UTXO) you have in the wallet. Consider those scenarios: A: One UTXO You have filled the wallet with ...
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  • 600
1 vote
Accepted

How do you lock X amount of monero for 200 blocks using the cli wallet?

You can use the locked_transfer command: locked_transfer 4xxx... 10 200 It will look something like this:
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1 vote
Accepted

How does one prove that a user has locked Monero for X blocks?

You can prove a) that a tx has locked coins by providing the tx hash of the tx which has the locked funds and b) prove you created the tx. To prove a tx has locked funds, simply give the user the ...
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  • 17.4k
1 vote

Are transactions with multiple real inputs bound to require all the real inputs

The OP workaround does not actually mimic a Bitcoin nLockTime tx, because the second tx (with the actual funds), is not published - it cannot be, the network would reject it. An nLockTime tx is ...
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  • 17.4k
1 vote
Accepted

Is there a coin time lock ability in Monero like the one in Bitcoin?

In monero-wallet-cli you can use the locked_transfer command to send money to yourself and lock it for a number of blocks.
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  • 3,304
1 vote

Transfers from 3 days ago still "locked" in Monero GUI wallet

Normally, transfers are locked for 10 blocks. If yours were still locked, it means either node node was failing to sync to the chain, or the wallet failed to refresh from the node. You'd see that if ...
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  • 34.6k

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