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257 sats \ 10 replies \ @justin_shocknet 17h \ on: Why all Bitcoiners should support covenants bitcoin
If you support covenants, you're not a bitcoiner, but a shitcoiner that wants Bitcoin to look like this:
Covenants enable one thing, delegation to centralized apps, centralized apps that can only be used to mis-represent themselves as Bitcoin, generate swap-fees, and conduct surveillance through coordination services and aforementioned swaps.
Sure, these things happen now, but if they are succesful in getting their shitfork activated it'll lend them undue credibility with unsophisticated users that will be hurt.
Bitcoin becoming more like ethereum has no upside, it's just high time preference degenerate behavior that creates systemic risks should any of these Fake L2's grow in size.
It's now these fake, surveillance prone, dark-funded subchains that are directing development priorities among both Core and Knots... a true tragedy of the commons unlike Bitcoin has ever seen.
Jimmy good, more people should think critically like Jimmy. @jimmysong, my only nit is that you be more toxic on this issue, we need you.
Ark is a scam fake L2 and anything that's good for them is bad for Bitcoin
Lnhance should be referred to to as gaslight-ning, it's an attack on Lightning in its effort to remove the justice tx that disincentivizes unreliable node operators, it's only reliable node operators that allow the network function.
Channel factories, as its most notable "enhancement", are indicative in it's uselessness. Channel batching already exists and achieves 80% cost reductions, yet no one uses it because cost is not a bottleneck.
This can only be asserted by a naive, hubristic person, and immediately invalidates their opinion.
See the first line.
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cry harder snowflake
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what problem is covenants trying to solve?
"I need shitcoins on Bitcoin to ROI my investors before they break my kneecaps."
that one doesn't count.
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@DarthCoin we need a meme for this
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indeed.
EDIT: I think you already made that meme with the image you just posted :) They are a meme in itself LOL
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I just watched this video from Jimmy Song (5 min) and it definitely pushed me in the anti-covenant direction: #1218881
Especially his point about evidence for demand
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Conveniently, we can simply invert the reasons he gave for opposing covenant soft forks and have a solid, actually-true list of reasons for supporting covenant soft forks
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The reasons are many
Just because someone is a dev doesn't mean they're an adversarial thinker, or understand systems, code is just a means to an end.
Shell devs for example (which I consider myself), are often deferential to "Core" devs because a javascript framework is a different skillset than say, Bitcoin script.
Incentives are the most obvious reason the higher up you go, as mentioned the funding from Fake L2's is pervasive. Core is an NGO at this stage, Knots-Ocean has overlapping funding. Active development = Activist development.
On the lower-end, it's typical psyop effect... bandwagon jumping, ingrouping, current-thing maximalism, ethos pathos and logos virtue signaling... all one NGO has to do is get a few influenzas to astruturf that you hate poors, newcoiners, and new use-cases if you don't support their stupid ideas that don't actually help any of those things. People will enthusiastically support the dumbest shit imaginable as long as they can tell themselves what a good person they are for doing so. "Useful idiots" exemplify how virtues are easily weaponized.
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