122 sats \ 3 replies \ @justin_shocknet 8 Mar \ on: What are Bitcoin covenants? Explaining CTV and CheckTXHashVerify in simple terms bitcoin_beginners
Covenants might be fine if they weren't overwhelmingly pushed by shitcoiners that claim they can scale self-custody of Bitcoin to billions with some unresolvable VCash token
The gist is we can consolidate all of Bitcoin into 1 UTXO- because muh virtualization
There don't seem to be many sane proponents who will disavow these clowns... Probably because it doesn't have a usecase beyond vague ideas around efficiency that can't be quantified since we haven't even glimpsed saturation of current technology
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210 sats \ 1 reply \ @ursuscamp 9 Mar
Your Covenant Derangement Syndrome is quite severe.
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0 sats \ 0 replies \ @justin_shocknet 9 Mar
Preferable to the shitcoin mind virus consuming you with bad ideas, go peg yourself
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0 sats \ 0 replies \ @StoneCodlHodl 9 Mar
Is recommend you read the linked article. CTV opens no more shitcoin holes than exist already in Bitcoin. But CTV is the safer route, and gives us superior Vaults, and more efficient lightning channel opens.
CheckTXHashVerify, however does open more dangerous features, including recursive covenants
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