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663 sats \ 10 replies \ @freetx 10h \ on: BITCOIN CORE'S LOSS OF FOCUS bitcoin
  • Decentralized
  • Secure
  • Fast and Cheap
Pick 2.
Core devs aren't paying close attention to the covenants conversation
Why don't proponents of covenants first actually build some pressing new features using covenants and get people to buy-in to their vision.
This sales pitch of "Lets just implement it and I promise that it will all work out" is an absurd elevator pitch that has zero real chance of getting buy-in.
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549 sats \ 4 replies \ @Scoresby 9h
I think the OP built a mockup of Vault, and there is a demo of CTV as well.
Lightning clearly could benefit from some of these improvements given how difficult self-sovereign use of LN is and how few people chose to use it that way.
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210 sats \ 0 replies \ @petertodd 7h
Vaults make the self-custody scaling problem worse, not better. They're very inefficient, requiring approximately double the on-chain space to perform a signalling function that could be done just fine off-chain with a normal multisig wallet.
I need to write up a good article on them one of these days... They're just not a very compelling idea.
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113 sats \ 2 replies \ @freetx 8h
OP built a mockup of Vault, and there is a demo of CTV as well.
Thank you for this.
given how difficult self-sovereign use of LN
Agreed. But, is any of that surprising? How many people run their own email server?
I just don't think there is much demand for it....(sadly)
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719 sats \ 1 reply \ @ek 8h
Agreed. But, is any of that surprising? How many people run their own email server?
Maybe they would if it wouldn't be so difficult because it got captured by big corporations
I just don't think there is much demand for it....(sadly)
You are right, because it is currently so difficult.
I think this is also related: If you ask users what they want (= demand), they will tell you they want the proverbial faster horse.
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49 sats \ 0 replies \ @Scoresby 8h
100%
I certainly would like an easier way to use lightning/bitcoin.
I want to be able to
  • send/receive asynchronously (without needing to stay online)
  • without anyone being able to stop me
  • in amounts smaller than the dust limit
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206 sats \ 4 replies \ @ek 8h
Why don't proponents of covenants first actually build some pressing new features using covenants and get people to buy-in to their vision.
They already did, I think you just aren't aware.
One more example next to what @Scoresby mentioned: there is a more efficient version of Ark that would use covenants iirc
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11 sats \ 3 replies \ @freetx 8h
They already did, I think you just aren't aware.
Its true, I wasn't aware.
Perhaps people will clamor to use it? Or maybe not?
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21 sats \ 2 replies \ @ek 8h
Perhaps people will clamor to use it? Or maybe not?
Hopefully before self-custody is too late
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11 sats \ 1 reply \ @freetx 8h
Hopefully before self-custody is too late
Do you think that it will be impossible to run a L1 Bitcoin Core node soon? If so, why/how?
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17 sats \ 0 replies \ @ek 8h
It will be impossible to transact onchain for most people, the math just doesn't check out and they will be priced out of self-custody.
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