What's it mean Bitcoin had been locked?
What's it mean Bitcoin had been locked?
Replies
when I lock bitcoin it prevents anyone including me from spending it for some amount of time. I can lock my bitcoin TO a message, signaling that I "like" it. This is a superior way of signaling I value something because I have to use a scarce resource and incur a small cost, so my "likes" are finite
Do you ever get the Bitcoin back? Do they ever get it? What happens to it,,?
yes, it returns to you after the lock up period
so you don't spend it... you just lock it. So you incur an opportunity cost... you can't spend it/use it as long as it is locked up. Then you get it back.
!quoted by pxl272
For me its a simple signalling method to put my money where my mouth is.
https://home.treechat.ai/quest/0aec4fc0-dd78-4ac7-b0be-b605f34abc9b