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lbry.tech/documents/resources/time-locked-transactions.md
Lex Berezhny a8f9d90f22 added time locked transaction instructions
2022-04-25 09:07:16 -04:00

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How to spend your time locked transaction

This guide will walk you through the process of claiming a time locked transaction from a USB key. This involves accessing the transaction details on the key, making sure you have the latest version of lbrynet and finally using the transaction details to call account_deposit to claim your LBC.

Check lbrynet version

If you already have lbrynet installed then you can check your version like this:

lbrynet version

If above command fails, you may need to start lbrynet first (and then try above again):

lbrynet start

If you do not have lbrynet installed or your version is less than v0.108.0 then you can get latest version here:

https://github.com/lbryio/lbry-sdk/releases

Gather Information

Transaction ID and Transaction Output Number

  1. On the USB key, find a file named address.txt and copy the address in this file.
  2. Go to LBRY Explorer and enter the address you copied.
  3. You should see one transaction containing this address, click on this transaction.
  4. You will need two pieces of information on this page, the transaction id and the nout.
  5. The transaction id can be found at the top of the page and directly below the text LBRY Transaction.
  6. The nout is the position of the output containing your address, starting with 0. Starting from the top of the list of outputs, count the outputs until you get to your address, then subtract 1 from this count, that is your nout.

Private Key and Redeem Script

  1. On the USB key, find a file named key.zip and unzip this file using the password emailed to you previously.
  2. You should now have a file named key.txt which is base64 encoded and contains your private key and redeem script.
  3. To decode the contents of the file you can use a website such as base64decode.org (not a secure option) or if you have Python installed you can do this on the command line:
python -m base64 -d /path/to/key.txt
  1. After decoding you will see a key/value mapping of various items, including privateKey and redeemScript. Take note of these values.

Redeem

Now that you have gathered the necessary information it is easy to redeem your LBC. Time locked transaction can be redeemed using the lbrynet account deposit command (fill in the values you gathered previously):

lbrynet account deposit <transaction id> <nout> <redeemScript> <privateKey>

If you get an error that says AssertionError: Cannot find private key for signing output., try a different number for <nout> (for example, increase or decrease it by 1).

Enjoy your LBC!

Get in touch

Whether you got to the end without a hiccup or you got stuck along the way, we want to hear from you. Join our Discord to get help, stay updated, and talk to other wallet server operators.