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122 sats \ 5 replies \ @justin_shocknet 8 Mar freebie \ 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
Your Covenant Derangement Syndrome is quite severe.
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Preferable to the shitcoin mind virus consuming you with bad ideas, go peg yourself
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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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I am not an altcoiner or big blocker and neither is Mechanic or Luke but they both support CTV and understand the importance of covenants. I highly recommend you watch Mechanic's latest video here: https://youtu.be/4Dxc5hiseTc
Furthermore I highly recommend the following 2 articles from Lopp and Shinobi:
Why bitcoin needs covenants: https://blog.casa.io/why-bitcoin-needs-covenants/
How CTV can help bitcoin scale: https://bitcoinmagazine.com/technical/how-ctv-can-help-scale-bitcoin
And if you know any actual developers please let them know they can express their opinion here: https://en.bitcoin.it/wiki/Covenants_support
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If this is the best populum fallacy you can cobble together that's pretty sad. Shinobi is the worst example you can give, total ignorant clown.
sane proponents who will disavow these clowns
No one is credible until they publicly call out the Ark / vTXO people scammers for their bullshit claims, only then can we discuss risk/reward.
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