Okay, so what just happened?
Here’s an explanation from my friends.
Could be it’s a thing someday.
R. BUTTS
“CHECKLOCKTIMEVERIFY (CLTV) = a Bitcoin vault with a timer.
It says: “These coins (or inscriptions) can’t be spent until block X or date Y.”
Unlike nLockTime, which just delays when a TX can be broadcast, CLTV locks the coins themselves. Every node enforces it. Nobody can override it until the timer expires.
You still own them. Your wallet holds the only key that can unlock them once the time’s up.
The coins (or inscriptions) go to a different address, but that’s just another lockbox inside the same wallet (wallets can have many addresses).
Think of it as a vault that opens in the future.
A promise written in math.”