rich1.0LogicallyMinded (npub1s0…2rqf5)https://yabu.me/npub1s0fs9dwztm2rukm42vh6df4a5gwykclf75tgyeuc75t0cs2eh8rsu2rqf5njumphttps://yabu.meI’m surprised there is no more outrage from bitcoiners regarding #covenants. After doing a cursory research on the topic, it seems that covenants would mean the end of permissionless #Bitcoin and the generalization of #KYC-ed #BTC. - Covenants can enforce spending outputs to KYCed addresses only. - Covenants can enforce receiving BTC from KYCed addresses only - #Covenant rules applied to a given output would propagate to future spending of this output. In short, all BTC leaving a regulated entity could only be spend to KYCed addresses forever. Maybe I missed it, but I haven’t seen the plebs being outrage about this risk for Bitcoin. I heard a lot more criticism about #drivechains though. This tell me that some of the vocal opposition is either controlled opposition or uninformed. #OPCAT #OPCTV #drivechain