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[202.12.124.150]) by gmr-mx.google.com with ESMTPS id 98e67ed59e1d1-31c9f112651si137866a91.0.2025.07.17.02.05.23 for (version=TLS1_3 cipher=TLS_AES_256_GCM_SHA384 bits=256/256); Thu, 17 Jul 2025 02:05:23 -0700 (PDT) Received-SPF: pass (google.com: domain of pete@petertodd.org designates 202.12.124.150 as permitted sender) client-ip=202.12.124.150; Received: from phl-compute-01.internal (phl-compute-01.phl.internal [10.202.2.41]) by mailfout.stl.internal (Postfix) with ESMTP id 69D8B1D0006A; Thu, 17 Jul 2025 05:05:22 -0400 (EDT) Received: from phl-mailfrontend-01 ([10.202.2.162]) by phl-compute-01.internal (MEProxy); Thu, 17 Jul 2025 05:05:22 -0400 X-ME-Sender: X-ME-Received: X-ME-Proxy-Cause: gggruggvucftvghtrhhoucdtuddrgeeffedrtdefgdeitddukecutefuodetggdotefrod ftvfcurfhrohhfihhlvgemucfhrghsthforghilhdpuffrtefokffrpgfnqfghnecuuegr ihhlohhuthemuceftddtnecusecvtfgvtghiphhivghnthhsucdlqddutddtmdenucfjug hrpeffhffvvefukfhfgggtuggjsehgtderredttddvnecuhfhrohhmpefrvghtvghrucfv ohguugcuoehpvghtvgesphgvthgvrhhtohguugdrohhrgheqnecuggftrfgrthhtvghrnh epledvleelffdtudekudffjefgfeejueehieelfedtgfetudetgeegveeutefhjedtnecu ffhomhgrihhnpehpvghtvghrthhouggurdhorhhgnecuvehluhhsthgvrhfuihiivgeptd enucfrrghrrghmpehmrghilhhfrhhomhepphgvthgvsehpvghtvghrthhouggurdhorhhg pdhnsggprhgtphhtthhopeegpdhmohguvgepshhmthhpohhuthdprhgtphhtthhopehgsh grnhguvghrshekjeesghhmrghilhdrtghomhdprhgtphhtthhopehjrghmvghsrdhosggv ihhrnhgvsehgmhgrihhlrdgtohhmpdhrtghpthhtohepsghithgtohhinhguvghvsehgoh hoghhlvghgrhhouhhpshdrtghomhdprhgtphhtthhopegurghrohhsihhorhesphhrohht ohhnmhgrihhlrdgtohhm X-ME-Proxy: Feedback-ID: i525146e8:Fastmail Received: by mail.messagingengine.com (Postfix) with ESMTPA; Thu, 17 Jul 2025 05:05:21 -0400 (EDT) Received: by localhost (Postfix, from userid 1000) id 53D839FC3B; Thu, 17 Jul 2025 09:05:20 +0000 (UTC) Date: Thu, 17 Jul 2025 09:05:20 +0000 From: Peter Todd To: James O'Beirne Cc: Antoine Poinsot , Greg Sanders , Bitcoin Development Mailing List Subject: Re: [bitcoindev] A Taproot-native (re-)bindable transaction bundle proposal Message-ID: References: <26b96fb1-d916-474a-bd23-920becc3412cn@googlegroups.com> <_POzkO7sHDURx6skGAWsrxN_UUtN_6Ak6donzVhmzYzAV6Ej22jBnE2baxM_WtqxW2RNvDjze72kOVgowNhqGSJ1dg5m_HTO3FuG6QM5daw=@protonmail.com> MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha512; protocol="application/pgp-signature"; boundary="178BvSkW1caNESLu" Content-Disposition: inline In-Reply-To: X-Original-Sender: pete@petertodd.org X-Original-Authentication-Results: gmr-mx.google.com; dkim=pass header.i=@messagingengine.com header.s=fm2 header.b=lduvGfB7; spf=pass (google.com: domain of pete@petertodd.org designates 202.12.124.150 as permitted sender) smtp.mailfrom=pete@petertodd.org Precedence: list Mailing-list: list bitcoindev@googlegroups.com; contact bitcoindev+owners@googlegroups.com List-ID: X-Google-Group-Id: 786775582512 List-Post: , List-Help: , List-Archive: , List-Unsubscribe: , X-Spam-Score: -0.8 (/) --178BvSkW1caNESLu Content-Type: text/plain; charset="UTF-8" Content-Disposition: inline On Fri, Jul 11, 2025 at 06:59:18PM -0400, James O'Beirne wrote: > Hi Antoine, > > > You state that between 0.1% and 0.75% of all bitcoins in existence are > > held in P2TR outputs, and use this figure to conclude the > > "overwhelming majority of **value transfer** in bitcoin is still > > happening in a pre-Taproot script context". > > I think you might have misparsed my email; I wasn't using one > observation to justify the other. > > I ran a script[0] to tally the value of newly created outputs by address > type, and the node tells me that 93.5% of all output-value created over > the last three months is non-P2TR. The total output value created that is non-P2TR is irrelevant here: all those outputs are being created by existing production systems. Obviously, they have no reason to rush to implementing taproot. Heck, as I just mentioned elsewhere, even P2PKH addresses are *still* fairly commonly used even though there are significant fee savings to upgrading. People just don't like upgrading existing - working - code unless there is a really good reason. What we're discussing here is a new scripting feature, that inevitably are only useful for brand new code. There are no sigificant obstacles to new code making use of taproot. ACK new opcodes being taproot only. -- https://petertodd.org 'peter'[:-1]@petertodd.org -- You received this message because you are subscribed to the Google Groups "Bitcoin Development Mailing List" group. To unsubscribe from this group and stop receiving emails from it, send an email to bitcoindev+unsubscribe@googlegroups.com. To view this discussion visit https://groups.google.com/d/msgid/bitcoindev/aHi80KYQB7ZnUiVl%40petertodd.org. --178BvSkW1caNESLu Content-Type: application/pgp-signature; name="signature.asc" -----BEGIN PGP SIGNATURE----- iQIzBAEBCgAdFiEE0RcYcKRzsEwFZ3N5Lly11TVRLzcFAmh4vM4ACgkQLly11TVR LzeYLw//cEnC5rHg9qNnQ9EHo4V+AfL2YqdEt6MaGCsq13ecUUE3AseodvqpeMgB TivQWDm2snhircA/PhPXTmWQADiB0+9vhmja4ZaSOB3H4y2NstMErpe8+iauBcaY XmSPlfyzvU1yzt9TJ873akQyqGaGVu+b8sqc2syDAg7QdfVPC/lim2TeiE8PNiRE W4y/pJIOXisPf/fx7XAQ1JRKuGKRn/liC2vBtuECRLrQM2oulr+p1P/Axls22pk4 qqiCEzWsim+UcpfU+M5QSPTUFdtkV8AfTpstGNf2WYnqbQP78nhbx3W1y58/Sr0l uoKFBgyM3RWfJ6qEPhnQ7vERJGhx2cZnGYnE13qjCkfLk6JJxEG3HytcKXzGilYA Hnz+vX7iApLfbDrApE79DiPZr6sYGkrQk6ciWkkFHnuN9cXr5VGDbFBl4wM+j8rM QNgzqpWKZv4PdtBIp/oeIMnfb0TOo1Th21OifhSjyyY1x1rR8QePFWlmzHDmQN67 askzsORrt1dm6KOHhRbOegBqpCaoavpDTsOPvhMI0JyzMDS51cCcjEf4Flf50d78 ZVFQgVxNpB4QERFPeu1l6lgOOxcbdLZFoT9U6asdJoGO7n5Rt4geOJHqfWk1alaF Aqfjm9AoYy2opV/vXak8iy8+HbXTjvbxedL3blbdjGeSVkYFmng= =Yeka -----END PGP SIGNATURE----- --178BvSkW1caNESLu--