Re: [bitcoin-dev] Bitcoin covenants are inevitable

[micaroni@gmail.com]

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Totally agree.
I couldn't agree more.

On Fri, Jun 3, 2022 at 3:44 PM alicexbt via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> Note: This email is an opinion and not an attack on bitcoin
>
> Covenants on bitcoin will eventually be implemented with a soft fork. CTV
> is the easiest and best possible way OP_TX looks good as well. Apart from
> the technical merits, covenants will improve a few other things:
>
> - Developers can build interesting projects with real demand in market.
> - Students learn Sapio and not just solidity.
> - Better tooling could be available for application developers.
> - Maybe we see bitcoin developer hackathons in different countries.
> - Demand for block space might increase, it wont be just exchanges and
> coinjoin.
> - Funding of bitcoin developers and projects might improve. Wont need to
> convince a few people for grants.
>
> **Why covenants are not contentious?**
>
> Some people may write paragraphs about CTV being contentious, spread
> misinformation and do all types of drama, politics etc. on social media but
> there are zero technical NACKs for CTV. We have discussed other covenant
> proposals in detail on mailing list and IRC meetings with an open minded
> approach.
>
> All the developers that participated in the discussion are either okay
> with CTV or OP_TX or covenants in general.
>
> **How and when should covenants be implemented in Bitcoin?**
>
> I don't think we should wait for years anticipating a proposal that
> everyone will agree on or argue for years to pretend changes are hard in
> Bitcoin. We should improve the review process for soft fork BIPs and share
> honest opinions with agreement, disagreement on technical merits.
>
> I prefer BIP 8 or improved BIP 8 for soft fork but I won't mind anything
> else being used if that improves Bitcoin. Covenants implemented in Bitcoin
> before the next cycle would provide opportunity for developers to build
> interesting things during the bear market. Ossification supporters also
> believe there is some window that will close soon, maybe doing changes
> considering each case individually will be a better approach. CTV is not a
> rushed soft fork, less people followed the research and it was not
> mentioned on social media repeatedly by the respected developers like other
> soft forks.
>
> /dev/fd0
>
>
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