Vortex | CTV | LNHANCE's avatar
Vortex | CTV | LNHANCE
vortex@theonevortex.com
npub1q5un...6dh3
Former host of The Bitcoin News Show. Creator of https://bitcoindev.org. Bitcoin Is. And that is enough.
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theonevortex 2 years ago
The world decided it wants small blocks on bitcoin and that's fine. It just means we have to continuously increase transaction density per block. CTV is the next step in that never ending effort.
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theonevortex 2 years ago
If you don't want the network to change that's fine, but then don't go around saying "bitcoin fixes this" or "bitcoin can save the world". Unless we keep improving the protocol it WILL get captured by central parties and only be available to the wealthy. And we'll be right back to where we started.
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theonevortex 2 years ago
Unfortunately it's true, ossification and self custody don't mix. You want everyone to be able to self custody? We need more upgrades. It's extremely early days still.
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theonevortex 2 years ago
Excuse the napkin math: Assuming ~600K daily transactions happening on the network with each user placing 1 tx per month, the network could theoretically support ~18M active users monthly. That's not enough 10 years from now. Sharing UTXOs using OP_CTV would allow for several orders of magnitude more active users.
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theonevortex 2 years ago
Remember every upgrade to bitcoin is designed to stack with future upgrades. For example, OP_CTV complements SegWit by enhancing transaction flexibility and smart contract capabilities, building upon SegWit's already improved block space efficiency and transaction batching features.
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theonevortex 2 years ago
OP_CTV will elevate bitcoin from just a value transfer network to a value transfer network + value coordination network. I cannot overstate what an incredible achievement this would be for bitcoin. Without OP_CTV bitcoin is destined to be coordinated by central parties (even if you can still verify a tx with your own node).
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theonevortex 2 years ago
GM 2024. Anyone who says "let's make bitcoin X again" is clearly not keeping up with bitcoin's constant progress and accomplishments. Don't get trapped in false narratives, do your own research. image
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theonevortex 2 years ago
Batch lightning channels + shared UTXOs, vaults, non interactive channels and trustless coordination-free mining pools are not marketing terms. They're the result of what you can do with covenants. This is open source tech you can go test out yourself, this is not vaporware.
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theonevortex 2 years ago
For those that don't know, CTV has been on signet for over 18 months and peer reviewed for over 4 years. The approach has been extremely conservative as always. However it is simply at the point now to where we need to think about how to get it activated.
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theonevortex 2 years ago
Open source devs sharing information about the code they want implemented / merged is not "schilling". Full stop.
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theonevortex 2 years ago
The benefits of OP_CTV are clear and the technical discussion is mostly over. Feel free to contribute and try to claim that bounty but It's now 100% down to activation. Some benefits include: -scales LN several orders of magnitude -improves efficiently for DLCs & many other operations -improves privacy -decreases miner centralization
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theonevortex 2 years ago
Literally every person with bitcoin derangement syndrome in the past has criticized bitcoin for having a "leadership problem". These people's egos are so inflated they're completely blind to the fact that bitcoin was designed to have no leaders. Rules without rulers. Forever.
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