Ever read a BIP anon? Read BIP-119 OP_CTV so you know what everyone is talking about.
To truly understand a thing, you must read its BIP. Only then can you make up your own mind. Is this BIP useful for Bitcoin?
Don't trust, verify.
https://github.com/bitcoin/bips/blob/master/bip-0119.mediawiki
lol this was my morning reading 👌
Now exercise #1: Explain, using the pseudocode, why this is non-recursive.
Don't need pseudocode. Hashes are deterministic. Every output committed to via CTV must be known beforehand. Hash cycles are not possible without also breaking SHA256 because you would need to compute a hash preimage that hashes to itself (in one go or transitively). So as long as the discrete log problem holds and SHA256 remains unbroken you cannot create a recursive covenant using CTV.
Great, but the exercise was to explain how this description is enforced with CTV, using the pseudo code.
I absolutely agree, but ironically BIP119 is the only BIP I ever complained to the author about because of its readability 😆
To be fair I think Jeremy took the criticism on board and updated the doc, I don't remember exactly.
But anyway I am an advocate of this specific update to Bitcoin (or a similarly flexible variant), it's a small but very significant change that opens up what we could do in terms of off chain protocols, very drastically.
