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5 sats \ 1 reply \ @guerratotal 3 Jun \ on: DM ME if you're potentially affected by covenants bitcoin
Covenants… a powerful tool or a dangerous door?
I deeply believe that Bitcoin’s elegance comes from its minimalism — from the purity of simple, immutable rules. Every soft fork, every proposal, forces us to ask: does this preserve the ethos of Bitcoin as sovereign money, or does it creep toward complexity, compromise, and unintended consequences?
I’m not against innovation — but I’m fiercely protective of what Bitcoin represents. Sound money. Exit from fiat. Freedom at a protocol level.
Covenants could unlock fascinating use cases — sure — but the question remains: at what trade-off? Does it enhance self-sovereignty, or does it open subtle paths for surveillance, restriction, or protocol ossification over time?
I appreciate what you’re doing by collecting feedback. Bitcoin is not just code — it’s a social contract among those who run nodes.
The conversation matters. The responsibility is enormous.
Keep going.
100%
I spent a lot of time digging into the compliance ramifications of covenants not just in the US, but in what another nationstate could actually do with CTV+CSFS.
Magnolia is basically an exchange at the end of the day, so it's kind of our business. I need to refine and publish it, but no doubt many would find our findings very enlightening (pun intended).
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