Author: Anthony Towns 2022-07-19 04:44:58
Published on: 2022-07-19T04:44:58+00:00
A post on the bitcoin-dev mailing list discusses the issue of covenants on Bitcoin, suggesting that they will eventually be implemented with a soft fork. However, there is debate over whether such soft forks should be allowed, as the risk of losing coins to covenants and thus losing fungibility and transaction freedom may outweigh any benefits. The term "contentious" is also discussed, with covenants being seen as counter to the point of Bitcoin as a monetary instrument. The traditional meaning of a covenant is an agreement with an implication of permanency, and sometimes people talk about "recursive covenants" in Bitcoin which would imply something similar to the concept of land ownership. Overall, there are differing opinions on whether or not covenants should be implemented and how they would function within the Bitcoin ecosystem.
Updated on: 2023-05-22T20:36:19.062645+00:00