Can somebody help me understand what Michael Dunworth is describing?
Sharing a private key? Pushing bitcoin into the future? Having it available to miners in 100 years?
I get the basic idea, but ...
Hey! Sorry about the delay!
Yes so the idea is to artificially plant coins into the future via Timelock addresses.
The Timelock addresses are unlocked after a certain blockheight.
The miners and everyone else already have the private key…
So essentially whoever mines the block can pay themselves by including this transaction from the timelocked address to pay to themselves.
(Timelock addresses are created by giving a specific public key and a blockheight)…
The public key that they’re locked with, corresponds to the private key I shared!
Does that make more sense?
Happy to clarify either way 🤙 thanks!
Yes so the idea is to artificially plant coins into the future via Timelock addresses.
The Timelock addresses are unlocked after a certain blockheight.
The miners and everyone else already have the private key…
So essentially whoever mines the block can pay themselves by including this transaction from the timelocked address to pay to themselves.
(Timelock addresses are created by giving a specific public key and a blockheight)…
The public key that they’re locked with, corresponds to the private key I shared!
Does that make more sense?
Happy to clarify either way 🤙 thanks!
1♥1🤙1