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What are Bitcoin Covenants?

Are a proposed method for adding additional constraints to the ways Bitcoin can be spent, beyond the standard conditions imposed by Bitcoin's scripting language. Covenants can specify not only who can spend the bitcoins but also how they can be spent in the future. For instance, a covenant might ensure that bitcoins can only be sent to certain addresses or be used in specific types of transactions.

Let's consider an example:

Alice wants to create a secure vault for her bitcoins. She creates a transaction that locks her bitcoins in an output that can only be spent according to a predefined template. This template, enforced by CTV, might specify that the bitcoins can only be spent to another vault address or after a certain time delay. If a thief tries to steal Alice's bitcoins, they are constrained by the covenant. The bitcoins can only be spent in accordance with the template. The thief cannot simply move the bitcoins to an arbitrary address but must follow the rules Alice has set.

#let's ser!

Saylor thing feels a little like a perpetual motion machine.

What am I missing?

Harry Potter and the prisoner of Azkaban is the best Harry Potter movie. If you don't think so, something is wrong with you.

The money printer goes brrr!

With a potential $20T liquidity surge, the question isn’t just about growth—it’s about where value will flow. Will Bitcoin be the ultimate hedge?

I like Udi Wertheimer and Eric Wall

I am glad they are pushing for op_cat because I think it improves bitcoin

I also don't expect everyone else to like them or agree with me

Oh yeah, and they are funny

my son thought a pomegranate was a boob lol

🐂 Long Rekt: 1000.00 BTC on OKX @ $90542.00 💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀💀

This degen just lost $90,542,000.00.