How can Bitcoin covenants get used in an evil way which harms Bitcoin?

According to Blockstream head of research Andrew Poelstra, some government agencies can put themselves in the middle to condition the release of funds. Basically, users wouldn’t get their money without government approval.

This would increase the whole gap between “whitelisted” bitcoin and “black market” coins.

However, Andrew Poelstra also believes that the concerns are overstated and the benefits of covenants on Bitcoin outweigh any drawbacks.

To learn more, listen to S15 E17 of the Bitcoin Takeover podcast!

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