The idea about implementing covenants isn’t that bad! Non interactive multisig format that can scale lightning. But what is the downside effect of it ?

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Complexity

No one will use it for years

Will add more unknown unknowns which will be used by ppl to do more dumb shit on chain (increasing attack surface)

For example 🤔

Ex taproot

Regulation exposure?

nm I was thinking of something totally different

OP_CTV itself virtually has no downside, but the second-order effects of implementing it will only be known with time.