BitProtect - 1/2 multisig + timelock

[7-of-9]

How to make sure that a friend or family member can access your BTC if Something Bad happens to you... (trustlessly)?

Send your BTC to a non-standard output with a locking script like:

OP_IF
  ${bitcoinJsLib.script.number.encode(lockTime).toString('hex')}
  OP_CHECKLOCKTIMEVERIFY
  OP_DROP
  ${cltvSpender.publicKey.toString('hex')}
  OP_CHECKSIG
OP_ELSE
  ${nonCltvSpender.publicKey.toString('hex')}
  OP_CHECKSIG
OP_ENDIF

Sender is nonCltvSpender, i.e. can spend anytime with redeem script OP_TRUE.
Beneficiary is cltvSpender, i.e. can spend anytime after OP_CHECKLOCKTIMEVERIFY elapses with redeem script OP_FALSE.

Required Wallet Sugar
(1) Wallet will lookup beneficiaries by registered email (hash lookup in DSC) - note: DSC will need to be extended to expose accounts' BTC pubKeys (also can be a nice viral referral flow - beneficiary refers new wallet signups by email prompt...)

(2) Wallet will prompt Benefactors to "roll over" his non-std outputs periodcally to reset OP_CHECKLOCKTIMEVERIFY interval. If and when that fails to happen, output will become spendable by Beneficiary.

WIP... see wallet-btc-p2sh.js (and "DMS" comments in-line, various).