Glad we could be helpful! One quick follow up:
> As you approach the end of the no-spend timelock (eg 1 month), you can reset the timelock
Because it is part of the locking script on the coins, the only way to change or reset it is to wait until the timelock expires and the coins are spendable. You can't reset it a month before it expires.
The only way to be able to "reset" timelocks before they expire is to have a spending path available that doesn't include the timelock (this is what we do). But I think it would defeat the goal of what you are trying to achieve.
There are several ways to do simple timelocks in bitcoin, but one of the main reasons they are not commonly used in the manner you describe is that to truly make your coins unspendable for a set period of time, you would also not be able to change the locking conditions on them yourself.
> As you approach the end of the no-spend timelock (eg 1 month), you can reset the timelock
Because it is part of the locking script on the coins, the only way to change or reset it is to wait until the timelock expires and the coins are spendable. You can't reset it a month before it expires.
The only way to be able to "reset" timelocks before they expire is to have a spending path available that doesn't include the timelock (this is what we do). But I think it would defeat the goal of what you are trying to achieve.
There are several ways to do simple timelocks in bitcoin, but one of the main reasons they are not commonly used in the manner you describe is that to truly make your coins unspendable for a set period of time, you would also not be able to change the locking conditions on them yourself.