0 sats \ 0 replies \ @020cd26eee 1 Jul 2023 \ parent \ on: Let's hear your controversial Bitcoin take. I'll go first: bitcoin
You don't have to do it. The covenant would just be an easy alternative to doing AML paperwork.
Recursive covenants will allow governments to control Bitcoin while at the same time keeping it decentralized and thereby not killing off a trillion dollar asset class.
I posted this in a similar thread.
This is rather exciting. I notice they use the theme and naming conventions from the various spiral backed *devkit projects. Do we know if payjoindevkit has similar backing?
Pieter Wuille has spent a lot of time educating people about bitcoin. If you have a bitcoin question that leads you to a stackoverflow post, I'll bet Pieter has answered it: https://bitcoin.stackexchange.com/users/208/pieter-wuille
As far as I can tell, some people feel grumpy about democracy so they want to breathe life into a new American aristocracy. To thrive, this new aristocracy would need a psychological/spiritual wellspring which would provide its lords sublime permission to act. Usually such a wellspring takes the form of a monarch, but it can also be a salient noble idea like Liberty (or Columbia before her). Since America does not have a monarch and its reserves of salient noble ideas are beginning to look a bit like Lake Mead, these would-be Lords think they can cargo cult their way to prosperity by rehashing monarchy.
I really don't like monarchy, and I do fear the monarchy movement -- especially if energy costs start to spike and the Lord-peasant arrangement starts to become the lesser of several evils.
Here's a video of the hearing:
House.gov link which includes meeting documents: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408851
As far as I can tell, they are doing the right thing with the right ideology using the right tech. The wallet seems to be easy to use, cross platform, cutting edge, and small. They focus on decentralization, self custody, permissionlessness, and privacy. They built it using rust tooling because it's fast, hard to break, and does wasm well.
GENESIS