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0 sats \ 3 replies \ @gzuuus_ 8 Mar \ on: What are Bitcoin covenants? Explaining CTV and CheckTXHashVerify in simple terms bitcoin_beginners
I need to look at the details, but my biggest concern with whatever proposal of covenants is that by setting conditions they can limit or even prevent you from having control over your addresses. Edge cases and "creative" censorship can happen.
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225 sats \ 0 replies \ @ursuscamp 9 Mar
The restrictions is what makes them powerful. Those restrictions allow you to remove trust. There are already many types of spend restrictions in Bitcoin, such as multisig or OP_CSV or OP_CLTV.
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0 sats \ 1 reply \ @tetsu_tamasi 9 Mar
LOL, NO You set conditions on your addresses. You receive Bitcoin from adress A to your adress B - if there is a covenant on it (how can be spend) it is set by you.
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0 sats \ 0 replies \ @gzuuus_ 9 Mar
What if the government only allows you to use BTC that are "compliant", and for them to be that way they have to be at an address with a covenant that limits how you can move your utxo, those limits are not set by you. It's just a possibility... But without a doubt, anything that limits or restricts your ability to move your utxos freely must be considered with great caution. In any case I am not against it, I would simply like to understand all the implications that this would have.
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