I am recovering from a pretty bad gambling addiction. While I have been gamble free for almost 3 months now, at any time the urge to gamble can come back. I want to set up barriers in place so if I ever have an urge to gamble I can't gamble my precious satoshi's.
One of the solutions I came across is time locking bitcoin. Basically once you time lock a bitcoin you physically can't withdraw until a certain date.
How risky would it be to time lock my bitcoin for 20+ years? Also how complex is it to set up a time lock? Is it complicated to set up where something can go wrong?
How risky is it to time lock bitcoin for 20+ years?
byu/Powerful_School_8981 inBitcoinBeginners
Posted by Powerful_School_8981
2 Comments
Its not that complicated (I don’t think. I’ve never actually done it). Yes something could go wrong. Be careful.
Are you going to be alive in 20 years? Are you going to need the money in 10 years but have zero way to access it? Hard to quantify those risks but they certainly exist.
Not risky, but I don’t know how to do it. Maybe reach out to Casa, Onramp, Swan etc. E.g. companies that assist with this kind of thing. Probably worth a small fee to get it done right.