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Only newer currencies you could lock your money into a smart contract, or just stake it, such that you literally could not transfer your money for a year (or mo

Only newer currencies you could lock your money into a smart contract, or just stake it, such that you literally could not transfer your money for a year (or more). Lower liquidity but would de-fang ransom like this. Alternatively, a smart contract could require large transfers to escrow for X months, and could have a secret poison pill such that it would abort after 30 days if you used a trap password. Edit: Given the downvotes I guess people just wanted to snark? I interpreted this as a technical question but maybe I misread.

throw101010 2y ago
> Only newer currencies you could lock your money into a smart contract, Bitcoin literally has timelockS (multiple kinds) built-in in its scripting since its first release...
- __MatrixMan__ 2y ago
  I'd believe that necessary primitives are out there, but it's not really enough to have a solution in theory. A crypto project will have to stop such things in practice before they can legitimately claim to have obsoleted the banks.
  - throw101010 2y ago
    If your intent is to lock funds for a specific number of blocks or a timestamp/block height you don't need more than these primitives (nLockTime, nSequenc, CLTV or CSV)... the first two are fields in any Bitcoin transactions, the others are scripting instructions. Some wallets allow to use these various flavors, from memory, both Bitcoin Core and Electrum offer some of these timelocks through their UI. The point was not that this alone would make bank obsolete, but rather that this isn't just something "new" cryptocurrencies feature.
    - __MatrixMan__ 2y ago
      zooms out Oh I see, and I agree with you. Sorry, my mistake.
  - thinkmassive 2y ago
    It’s been implemented, for example: https://github.com/wizardsardine/liana https://github.com/wizardsardine/liana