Swift Activation - CTV

Swift Activation - CTV

Original Postby Michael Folkson

Posted on: January 2, 2024 13:52 UTC

The discussion highlights significant concerns regarding the deployment and acceptance of CheckTemplateVerify (CTV) within the Bitcoin community.

There is a notable absence of any substantial development or demonstration of CTV use cases since the initial talks nearly two years ago. This lack of progress is exemplified by the scarcity of projects, with James O'Beirne's OP_VAULT being a rare exception that not only requires CTV but also additional new opcodes.

Criticism is levied at those advocating for CTV activation without addressing counterpoints or working towards actualizing its potential applications. Instead, there seems to be a repetitive push for activation, neglecting the necessity for consensus and risk assessment. The comparison to the nascent stages of Bitcoin's history is made; during these early phases, modifications by Satoshi and small groups of contributors encountered minimal scrutiny due to Bitcoin's lower valuation and support of a considerably smaller ecosystem. However, such an approach is deemed impractical today given Bitcoin's growth in both value and infrastructure.

Furthermore, the email rejects the notion of bestowing upon any individual—referenced as "Erik" in this case—the unilateral authority to dictate changes akin to Satoshi's role in the past. The current climate demands a more democratic process where concerns must be addressed adequately to prevent divisive outcomes like a chain split. This underlines the importance of collaboration, thorough vetting, and achieving broad agreement before implementing changes in such a valuable and extensive system as Bitcoin.

For further educational resources on Bitcoin, Michael Folkson provides a link to his YouTube channel, Port of Bitcoin.