Lock. Even you can’t unlock it early.

Lock BSV on the Bitcoin SV blockchain until a date you choose, or have it paid back to you a little at a time. Once it’s locked, nobody can move it before then: not you, not bWalletX, not anyone.

Coming in a future release, not in the app yet Lock BSV is built and tested, but it is not in the app you can download today. This page describes what is coming.

What locking is

A lock is a normal BSV output with a small contract attached. The contract says two things: these coins can only be spent by your key, and only in a transaction that the network won’t accept before a certain block height. Blocks come about every ten minutes, so a height is a date, roughly.

The rule is enforced by every miner, not by us. There is no switch at bWalletX that releases a lock early, and no support process that can. The coins never leave your wallet’s keys; they just can’t move until the height is reached.

Two kinds of lock

• One unlock date. The whole amount opens at one block height.
• Gradual payouts. The amount is split into pieces, each locked to a later height: daily, weekly, monthly or every few days, for a number of payouts or until an end date. You choose how each payout is sized:
  • Dollars per payout (the default), for example $10 a day. You lock BSV, sized at today’s price plus a buffer (20% unless you change it). When a piece unlocks, your wallet pays out the dollar amount at that day’s price. If the piece is worth more, it offers to re-lock the extra into the next payout; if it is worth less, you get the whole piece and the schedule shows what it came to, for example “paid $8.40 of $10”. If the wallet can’t get a current price, it doesn’t guess: the piece stays in your wallet as BSV.
  • BSV per payout, for example 0.1 BSV a week.
  • A percentage, of the original amount (the same payout each time, ending after 100÷X payouts) or of what is left (shrinking payouts; the last small remainder is paid at once).

Before you lock, the wallet shows every payout: estimated date, block height, BSV, and estimated dollars at today’s price.

Read this before you lock

• It is irreversible. You type LOCK to confirm. After that, nobody can unlock it early, including you and bWalletX.
• It is BSV. The locked asset is BSV, and its dollar value goes up and down while it is locked. Dollar amounts are targets, not guarantees. The price is only used inside your own wallet, at payout time.
• Dates are approximate. A lock opens at a block height. If blocks come faster or slower than ten minutes on average, the day moves.
• Your 12 words are the only key. Lose them and the locks are lost for good. Nobody can recover them.
• Limits. Each payout must be at least 1,000 sats, because claiming one costs a small fee. One lock holds up to 520 payouts; longer percentage schedules keep the later payouts in one lock and re-split it when it opens.

Claiming

When a lock opens, the Locks screen shows it as Ready to claim. One tap claims every opened piece, across all your locks, back into your wallet in a single transaction.

A public receipt, if you want one

Some people lock coins to show others they can’t sell them: a founder vesting their own coins, a creator showing they aren’t about to cash out. For that, you can turn on Mint a public receipt. It is off by default.

The receipt is an NFT made in the same transaction as the locks. It shows the amount, the schedule and who locked it (your handle, if you have one), and says “Verify at bwalletx.com/lock/verify”. A picture proves nothing by itself, so the check reads the transaction from the chain and confirms that its outputs really are locks with those heights and amounts, and whether they have been claimed yet.

Turning it on links your identity to the amount, publicly and permanently. Only do it if you mean to.

Why we built it: 023 Locks you can’t break.

bWalletX is in beta: test with small amounts. Nothing here is investment advice. Questions: support@bwalletx.com