Published on: 2022-04-25T16:11:11+00:00
The context revolves around a debate within the Bitcoin community regarding the impact of increased use cases on the Bitcoin network. Tetrud and Zac express differing opinions, with Tetrud believing that more use cases would benefit Bitcoin by increasing its utility and adoption, while Zac argues that it could lead to higher transaction fees and strain the blockchain.The discussion then moves towards the maxim that any change in Bitcoin must benefit all users. Some members of the Bitcoin development community challenge this maxim, suggesting that changes benefiting the majority of users without negatively affecting the minority should still be implemented. The focus shifts to the potential benefits of Consensus-enforced Transaction Validity (CTV), which can provide improved security and reduced fees for all users. However, there are concerns about security caveats that need to be addressed.Contrary to the argument against CTV, the increase in use cases would not necessarily lead to increased transaction fees for everyone. Transaction fees are driven by demand for block space, not the number of use cases. The context emphasizes the importance of making Bitcoin useful and appealing, even in the face of high transaction fees.Michael Folkson opposes the activation of the CTV soft fork without community consensus. He believes that changes to Bitcoin's consensus rules should only be made with community support, as decentralized decision-making requires careful consideration of important aspects of Bitcoin. Folkson labels the effort to prevent the activation a User Resisted Soft Fork (URSF) and suggests creating an additional release that rejects blocks signaling for CTV.In response to the debate, Zac argues that any change increasing the number of use cases for Bitcoin affects all users and is not non-invasive, as it can drive up transaction fees. He supports the maxim that any change to Bitcoin must benefit all users and suggests that additions to the protocol should primarily benefit layer 2 solutions like Lightning Network.The Bitcoin community is preparing for a Speedy Trial signaling period for the CTV soft fork, which has caused surprise and anger among those who oppose its activation. The Bitcoin Core 23.0 release candidate does not include CTV code or activation code, and running this version will not signal for CTV. However, it is still possible that CTV could activate through another software release. Michael Folkson tentatively labels the effort as a User Resisted Soft Fork (URSF) and establishes a channel to monitor developments and discuss rejecting blocks that signal for CTV. He acknowledges that this approach is not ideal for consensus changes and warns against rushing the process.
Updated on: 2023-08-02T06:11:07.500399+00:00