"Recursive covenant" with CTV and CSFS

In the realm of Bitcoin development, particularly regarding updates to Bitcoin Script, a compelling argument is made for considering both extensive overhauls and narrowly scoped changes. The discussion raises critical points about the inherent risks and rewards associated with modifying a core component of Bitcoin's infrastructure. One perspective suggests that undertaking significant changes or what is termed as "Great Script Restoration" could potentially be more rational than making minor adjustments to an interpreter whose behavior is not fully understood in every scenario. This viewpoint underscores the complexity and unpredictable nature of modifying code that plays a crucial role in the functioning of Bitcoin.

However, the conversation also acknowledges the consensus risk involved in implementing even minor, targeted changes. Despite a lower perceived risk level, these alterations carry their own set of challenges, including the cost of consensus change, ongoing maintenance burdens, and the potential for Miner Extractable Value (MEV) related risks. The risk-reward ratio of such changes may not always be favorable, suggesting a careful evaluation is necessary before proceeding with updates to Bitcoin Script. This nuanced examination of the options available for evolving Bitcoin Script highlights the need for a balanced approach that considers both the technical and strategic implications of any proposed modifications.