CTV+CSFS: Can we reach consensus on a first step towards covenants?

The discussion revolves around the concept of introducing covenants into the Bitcoin protocol, a topic that has generated varied opinions within the community. The original poster (OP) argues that covenants should not be viewed as an all-or-nothing proposition but rather approached in incremental steps. This perspective is rooted in the belief that enhancing the Bitcoin protocol should remain a primary objective, akin to the motivation behind the Taproot soft fork. The Taproot enhancement, recognized for making significant technical improvements without regret from the community, serves as a precedent, suggesting that fears regarding the potential negative side-effects of generalized covenants may be overemphasized.

Further, the OP highlights the importance of demonstrating practical use cases when proposing modifications such as soft forks. Specifically, they mention Discreet Log Contracts (DLCs) to argue that any proposal should clearly articulate how it will benefit applications that users value. This approach ensures that technological advancements are not only theoretically beneficial but also meet tangible community needs. By carefully selecting opcodes that would remain useful even as part of a more extensive roadmap, and excluding those with limited long-term utility, the OP illustrates a thoughtful method to enhance the protocol's capabilities gradually.

The debate extends to broader considerations about Bitcoin's development trajectory. It questions whether Bitcoin should be seen as a finished product only requiring changes for security purposes or if it should be considered a work-in-progress with room for functional enhancements. This dichotomy underscores the ongoing dialogue about balancing security concerns with the need for continuous improvement. The underlying argument is that while immediate benefits of certain upgrades like Taproot may not unleash new use-cases, they are nevertheless valuable technical progressions that contribute to Bitcoin's evolution. This viewpoint advocates for a pragmatic and incremental approach to protocol development, recognizing Bitcoin as an evolving project that benefits from carefully considered enhancements aimed at extending its functionality while preserving its foundational security principles.