Major BIP 360 Update

The discussion revolves around the naming of a concept referred to as "Script Tree," highlighting concerns that this name might limit future adaptability, particularly with potential developments like Simplicity. Simplicity, if integrated, could either augment the current structure as a new leaf version or emerge as an entirely separate output type. This distinction is significant because it touches on the broader context of Bitcoin Improvement Proposals (BIPs), specifically BIP-360 and BIP-341, and their relationship to the proposed naming convention.

The influence of individuals within the bitcoin governance process is another point of consideration. The mention of "sipa" as a key influencer underscores the dynamics of decision-making in this domain. The emphasis here is on the weight that certain opinions might carry in discussions about changes, including naming conventions. However, there's a clear advocacy for a decision-making process that transcends individual preferences, including those of influential figures. The guiding principle suggested is to choose names based on clarity and universal understanding, taking into account a wide range of opinions before arriving at a decision. This approach aims to ensure that terminological choices are made in the best interest of collective understanding and future-proofing, rather than being swayed by the preferences of any single individual, regardless of their influence or position within the community.