Have you fallen into the ‘rabbit hole’ of covenants?

My newest interview with @AmelieHua

https://bitcoinmagazine.com/technical/an-interview-with-polyd-the-rabbit-hole-of-covenants

Here's a diagram of the splitting in a payment pool. I don't remember which reference I pulled it from.

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There's a bit of a confusion between the various proposals and CTV itself. Its job is to be a TXID lock and there's not a large design space for that. None of them are competitors to CTV. In fact, CTV has no competitors at all. It's constrained to a primitive and nothing can be added or removed. Jeremy had been working on a few proposals but dropped them in favor of CTV.

Post CTV and we have basic covenants in the market, we can better determine whether we wish for OP_VAULT or OP_CCV (matt). We'll also be able to better analyze whether we want TXHASH or TEMPLATE KEY. In both cases, it would best to have a primitive that acts as a keystone for all future upgrades.

Salvatore mentions it here

https://twitter.com/salvatoshi/status/1661722124610949121?t=_8tNVadpnEo8Dk0vTgyOBQ&s=19

LN scaling covenants (Timeout-Trees); 35 pages.

https://github.com/JohnLaw2/ln-scaling-covenants/blob/main/scalingcovenants_v1.3.pdf

LN tunable penalties; 17 pages.

https://github.com/JohnLaw2/ln-tunable-penalties/blob/main/tunablepenalties10.pdf

LN efficient factories; 13 pages.

https://github.com/JohnLaw2/ln-efficient-factories/blob/main/efficientfactories10.pdf

LN factory optimized; 30 pages.

https://github.com/JohnLaw2/ln-factory-optimized/blob/main/factoryoptimized13.pdf

Resizing Lightning Channels Off-Chain with Hierarchical Channels; 37 pages.

https://github.com/JohnLaw2/ln-hierarchical-channels/blob/main/hierarchicalchannels_v1.3.pdf

Watchtower-Free Lightning Channels For Casual Users; 25 pages.

https://github.com/JohnLaw2/ln-watchtower-free/blob/main/watchtowerfree10.pdf

Just a little light reading 😭

#LNhance #CTV

A Flock of Ruebens

#RubinsRuebens #LNhance #CTV

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Great one 😂. Memetics are stronger. It is a mind virus after all ;). Try this one on for... size. (I'll see myself out now 😂)

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Captain Ahabread: Searching for Moby Dish

#RubinsReubens #LNhance #CTV

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It's not about the software itself. If the market was ready for it, it'd be ready in a week. The problem is the market needs to learn what it desires.

I see it similarly to Linux Distros, use Core (compare it to Debian) and from there, various flavors are made. Most security related patches should always go upstream to Core and disseminate from there. Soft forks are bit of a pain points atm, Core has said they're not dealing with soft forks anymore, consensus has to be found elsewhere. So we've been trying to figure that out for the last few years

Core is your best bet, I'm tempted to spin up Knots to see what GUI changes Luke has done, I just don't agree with the default relay settings so I'd change them. Sparrow is a nice tool as well. I'll be honest, I rarely run my node, it's typically off months at a time. Peter Todd has also started his own distro called Libre Relay which has a more relaxed op_return and a new RBF called One-Shot but it's still super beta.

The thing that has really helped me learn the innards to all this was Jeremy's advent calendar that he made for CTV. I spent a good year trying to decipher it all and I'm still learning.

https://rubin.io/advent21/

I've written two of my own essays to try and help teach what I've learned.

https://app.sigle.io/polydeuces.id.stx

Here's the BIP for Template Key

https://github.com/reardencode/bips/blob/bip-template-key/bip-template-key.mediawiki

Yeah, I'm not the most familiar with how best to do fees yet but I think Sponsors might be the best way to go, i'd much rather make explicit primitives for everything instead of trying to it perfectly via the covenant mechanism.

Txhash is CTVv2. It would allow you to have more flexible fees and control what happens with the committed tx's. The problem is it can be designed a hundred different ways, and I've lost confidence in the developers who are pushing it for multiple reasons. The first being, they don't actually understand CTV, they see it as "limited" because it doesn't deal with sighash flags and sets everything in stone, so they're trying to fix a problem they don't understand. They try and say that CTV is flawed because it uses CPFP more often than RBF but they don't realize (because they don't understand CTV trees) that you can't RBF in those situations or it breaks the trees because the TXID must be immutable. Another big red flag for me (besides the fact that theyve been nacking CTV for years and not producing any code to replace CTV) is that they see zero risk concerns for behaviors that txhash can do such as TXHASH+CSFS gives you drivechains and MEV. The MEV can occur because of the exact flexibility that they desire from txhash. They're also not even aware that CTV has its own upgrade path, Rearden has made one called Template Key. The difference between txhash and TK is TK is a single byte mode operator while txhash relies on multibyte sighash flags. They have zero self awareness and honesty my patience has run out with them, I am finding them to be intellectually dishonest at this point.

Yeah, vaults place restrictions on your corn. NACK. 🤣

How do you like this one? Tried to keep the Moby theme

#RubinsReubens

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Lightning sir?

I'm curious too

Ok. You boys ready for the sandwich memes?

#RubinsReubens

Good idea. I'll start adding hashes

Bit of a chicken and egg problem, don't get much engagement so don't spend much time on here. But I'll try and do better!