Author: Michael Folkson 2021-02-18 12:20:14
Published on: 2021-02-18T12:20:14+00:00
The ongoing debate about whether to set the LockinOnTimeout (LOT) parameter for Taproot activation to true or false continues to divide opinions within the Bitcoin community. Michael Folkson recently organized a meeting on IRC to delve deeper into the arguments for both sides, but it was complicated since it was open to everyone and attendees' views were not known beforehand. Despite the support for both options, there is no clear consensus yet.There are those who argue that LOT=false should be set in protocol implementations like Bitcoin Core, while others suggest releasing both versions and allowing the network to decide. The discussion aims to prepare for the unlikely but possible outcome that miners fail to activate Taproot, which would result in wasted time and a minority of people who did not want to be lenient with miners by default. However, some believe that no new feature is worth a network split down the middle, and an activation mechanism should be resolved like any other change to avoid arriving at the darkest timeline.Some members support LOT=true, while others oppose it strongly. The opposition comes from Bitcoin Core contributors, Lightning developers, and other community members who were not present at the meeting. Some mining pools also expressed a preference for LOT=false. Despite the lack of consensus, one member suggests that proposing LOT=false is the only option at this time. It is possible that roasbeef will set LOT=false on btcd, an alternative protocol implementation to Bitcoin Core, while Luke Dashjr has not yet decided on Bitcoin Knots. A code review of the Bitcoin Core PR #19573 is planned for Tuesday, February 23rd on the IRC channel ##taproot-activation.Overall, the meeting participants are thanked for their productive and good faith engagement.
Updated on: 2023-06-14T18:00:33.360192+00:00