Yes, that is correct. The network will not relay until locktime reaches "maturity", i.e. it can be confirmed into a block. The wallet holds onto the transaction -- or simply does not generate -- until it can be confirmed. On Sun, Jun 21, 2015 at 5:11 AM, Braun Brelin wrote: > So, basically it sounds as though the wallet generating the transaction is > what is responsible for holding on to the transaction and then > only releasing it to the network when the NLOCKTIME value is less than or > equal to the current time. Does that sound right? > > Braun > > > On Sun, Jun 21, 2015 at 10:45 AM, s7r wrote: > >> Hi >> >> I don't think that a transaction with nLockTime>0 will be accepted by >> nodes / relayed in the Bitcoin network, until its time expires (e.g. >> nLockTime==now). This means it obviously cannot be stored in a block, >> before its locktime expires. nLockTime is designed in a way that you, >> need to keep it offline (not broadcast it to the network because it >> won't be accepted or relayed by nodes) until the locktime expires, then >> you can broadcast it and it will be mined and included in a block, like >> a normal tx. >> >> This is exactly why Peter Todd and others are working on >> CHECKLOCKTIMEVERIFY and RELATIVE CHECKLOCKTIMEVERIFY - this is an >> enhancement to basic nLockTime which tends to offer to users the >> guarantee that if you have a transaction with nLockTime, the signer >> holding the private keys used to sign it cannot sign another one, with >> nLockTime 0 and broadcast it before the locktime for your tx expires. >> >> Cheers! >> >> On 6/21/2015 10:10 AM, Braun Brelin wrote: >> > Hi all, >> > >> > When a transaction with N_LOCKTIME>0 is created, does that transaction >> > get stored in a block on the blockchain or is it stored in the mempool >> > until the actual time (or block number) exceeds the current value? If >> > it is stored on the blockchain, how does that affect the concept of >> > pruning that is supposed to be going in to version 0.11? I.e. if I >> > create a transaction that doesn't take effect for 10 years, and that >> > transaction is stored in a block, does that block stay on the active >> > list for that period of time? >> > >> > Thanks, >> > >> > Braun Brelin >> > >> > >> > >> > >> ------------------------------------------------------------------------------ >> > >> > >> > >> > _______________________________________________ >> > Bitcoin-development mailing list >> > Bitcoin-development@lists.sourceforge.net >> > https://lists.sourceforge.net/lists/listinfo/bitcoin-development >> > >> > > > > ------------------------------------------------------------------------------ > > _______________________________________________ > Bitcoin-development mailing list > Bitcoin-development@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/bitcoin-development > > -- Jeff Garzik Bitcoin core developer and open source evangelist BitPay, Inc. https://bitpay.com/