Date: Wed, 20 Apr 2022 17:13:19 +0000
To: "bitcoin-dev@lists.linuxfoundation.org"
 <bitcoin-dev@lists.linuxfoundation.org>
From: Buck O Perley <buck.perley@protonmail.com>
Reply-To: Buck O Perley <buck.perley@protonmail.com>
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Subject: Re: [bitcoin-dev] CTV Signet Parameters
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Hi AJ,
Long time listener first time caller here.
All merits (or lack thereof depending on your view) of CTV aside, I find t=
his topic around decision making both interesting and important. While I t=
hink I sympathize with the high level concern about making sure there are =
use cases, interest, and sufficient testing of a particular proposal befor=
e soft forking it into consensus code, it does feel like the attempt to at=
tribute hard numbers in this way is somewhat arbitrary.
For example, I think it could be reasonable to paint the list of examples =
you provided where CTV has been used on signet in a positive light. 317 CT=
V spends =E2=80=9Cout in the wild=E2=80=9D before there=E2=80=99s a known =
activation date is quite a lot (more than taproot had afaik). If we don=E2=
=80=99t think it is enough, then what number of unique spends and use case=
s should we expect to see of a new proposal before it=E2=80=99s been suffi=
ciently tested?
Perhaps this is simply a case of the Justice Stewart view on pornography w=
here =E2=80=9Cyou know it when you see it=E2=80=9D[1], but then if that=E2=
=80=99s the case than it really doesn=E2=80=99t seem productive to use the=
se numbers to evaluate the readiness and eagerness to use CTV since they a=
re effectively arbitrary and could be used to make the argument in either =
direction.
So perhaps it just *felt* like there was more need and ready-to-use applic=
ations of taproot, and perhaps this feeling is broadly shared and that=E2=80=
=99s fine, and it doesn=E2=80=99t *feel* that way for CTV, but by the me=
asures you laid out were there as many uses in the wild of taproot spends =
before it was brought to Speedy Trial? As far as I=E2=80=99m aware there s=
eemed to be more broken [2], premature Taproot spends then actual practica=
l uses of it on a test network before it was fully activated (I might be w=
rong about this though). Meanwhile the primary tooling necessary to really=
 make it useful (PTLCs, Musig2, FROST) weren=E2=80=99t even fully specced =
out yet let alone actively being used on a test network and the list of pr=
oposed applications on the bitcoin wiki [3] (last updated April 2021) is s=
imilarly sparse and not quite up to the standards you=E2=80=99ve set for C=
TV to be the next soft fork (this is to say nothing of the fact that many =
prefer to develop, build, and test on regtest than signet at this stage).
Maybe this is similarly an argument for Taproot being activated too early =
and that may be a fair argument (not one I share to be clear). If that=E2=80=
=99s the case, I think it=E2=80=99s reasonable to put all cards on the t=
able and we should be explicit that Taproot activation was premature for [=
X] reasons, here=E2=80=99s the new standard we want to have new proposals =
hit (a signet, expected level of activity, etc.). Then whether it=E2=80=99=
s CTV or TLUV or ANYPREVOUT, that=E2=80=99s what we as a community, the de=
velopers maintaining the proposals, and the developers/companies that plan=
 to build on top of the new proposal should strive to achieve.
In absence of the above, the risk of a constantly moving bar means the pos=
sibility of either insufficiently reviewed proposals getting activated bec=
ause we=E2=80=99re complacent and just placing trust in a small cadre of e=
xperts (nothing malicious in this, just seems worth avoiding) or personal =
and subjective reasoning allowing for premature ossification and blocking =
of upgrades that could otherwise be considered safe, useful, and perhaps e=
ven necessary on a long enough time horizon.
There=E2=80=99s also the other risk which you point out:

> One challenge with building a soft fork is that people don't want tocomm=
it to spending time building something that relies on consensusfeatures an=
d run the risk that they might never get deployed. But thereverse of that =
is also a concern: you don't want to deploy consensuschanges and run the r=
isk that they won't actually turn out to be useful.


Perhaps if we had clear metrics of what would make the work worth it, if w=
e knew what we were working towards, we=E2=80=99d be more likely to get th=
at proof of work. To use your meme, miners know precisely what they=E2=80=99=
re mining for and what a metric of success looks like which makes the ri=
sk/costs of attempting the PoW worth it (or conversely sometimes resulting=
 the decision for miners to be decommissioned). In addition to the example=
s listed above, even Taproot which most agree had relatively broad consens=
us didn=E2=80=99t have much work happening on top of it until it was activ=
ated. Suredbits as far as I=E2=80=99m aware didn=E2=80=99t want to build D=
LCs on top of lightning until taproot AND PTLCs were in use (in contrast w=
e already have a DLC implementation that uses CTV[4]). We also have new id=
eas that only started coming up after Taproot activation (TLUV and Taro fo=
r example), so there=E2=80=99s also the unknown of what we could have once=
 it becomes clear that it=E2=80=99s worth devoting mental energy and finan=
cial resources towards research.
One last wrinkle with regards to using countable metrics to determine a fe=
ature=E2=80=99s =E2=80=9Cworth=E2=80=9D is that not all features are the s=
ame. Many of the use cases that people are excited to use CTV for ([5], [6=
]) are very long term in nature and targeted for long term store of value =
in contrast to medium of exchange. Metrics for measuring value of a store =
of value upgrade are fundamentally different than those measuring value of=
 MoE. It=E2=80=99s like people pointing to transaction volume on other cry=
ptocurrency systems to show that their chain is more valuable. You can bui=
ld a CTV vault in signet, but you=E2=80=99ll only really see a lot of peop=
le using it when it=E2=80=99s to store real value on a time scale measured=
 in decades not minutes or days like you might find for lightning testing =
and experimentation. This doesn=E2=80=99t make one more or less desirable =
or valuable imo, just that the evaluation metrics should be treated totall=
y differently.
Anyway, I guess that=E2=80=99s a (very) long way of saying, are these cons=
tructive ways to evaluate an upgrade and if they are can we maybe have an =
idea of what a success vs. a failure metric looks like (and in the interes=
t of retrospection and iterative improvement, it would be useful to know i=
f in retrospect Taproot didn=E2=80=99t reach these metrics and maybe was a=
ctivated prematurely as a result). To put another way and leave CTV out of=
 it completely, what should an outside, unbiased observer that doesn=E2=80=
=99t spend much time on Twitter expect to be able to see to evaluate the r=
eadiness or acceptability of ANYPREVOUT, TLUV, or any other possible futur=
e soft forks? If nothing else, nailing this down would seem to help make t=
he lives of key bitcoin core maintainers much easier by removing politics =
from decisions that should otherwise be as technical in nature as possible=
.
[1](http://cbldf.org/about-us/case-files/obscenity-case-files/obscenity-ca=
se-files-jacobellis-v-ohio-i-know-it-when-i-see-it/)
[2](https://suredbits.com/taproot-funds-burned-on-the-bitcoin-blockchain/)
[3](https://en.bitcoin.it/wiki/Taproot_Uses)
[4](https://github.com/sapio-lang/sapio/blob/master/sapio-contrib/src/cont=
racts/derivatives/dlc.rs)
[5](https://github.com/kanzure/python-vaults/blob/master/vaults/bip119_ctv=
.py)
[6](https://github.com/jamesob/simple-ctv-vault)


> On Thu, Feb 17, 2022 at 01:58:38PM -0800, Jeremy Rubin via bitcoin-dev w=
rote:AJ Wrote (in another thread):=C2=A0I'd much rather see some real=C2=A0=
third-party experimentation *somewhere* public first, and Jeremy's CTV=C2=
=A0signet being completely empty seems like a bad sign to me.
> There's now been some 2,200 txs on CTV signet, of which (if I haven'tmis=
sed anything) 317 have been CTV spends:
> - none have been bare CTV (ie, CTV in scriptPubKey directly, not via=C2=A0=
 p2sh/p2wsh/taproot)
> - none have been via p2sh
> - 3 have been via taproot:=C2=A0=C2=A0https://explorer.ctvsignet.com/tx/=
f73f4671c6ee2bdc8da597f843b2291ca539722a168e8f6b68143b8c157bee20=C2=A0=C2=A0=
https://explorer.ctvsignet.com/tx/7e4ade977db94117f2d7a71541d87724ccdad9=
1fa710264206bb87ae1314c796=C2=A0=C2=A0https://explorer.ctvsignet.com/tx/e0=
5d828bf716effc65b00ae8b826213706c216b930aff194f1fb2fca045f7f11
> =C2=A0 The first two of these had alternative merkle paths, the last did=
n't.
> - 314 have been via p2wsh=C2=A0=C2=A0https://explorer.ctvsignet.com/tx/6=
2292138c2f55713c3c161bd7ab36c7212362b648cf3f054315853a081f5808e=C2=A0 (don=
't think there's any meaningfully different examples?)
> As far as I can see, all the scripts take the form:
> =C2=A0[PUSH 32 bytes] [OP_NOP4] [OP_DROP] [OP_1]
> (I didn't think DROP/1 is necessary here? Doesn't leaving the 32 bytehas=
h on the stack evaluate as true? I guess that means everyone's usingsapio =
to construct the txs?)
> I don't think there's any demos of jamesob's simple-ctv-vault [0], which=
I think uses a p2wsh of "IF n CSV DROP hotkey CHECKSIG ELSE lockcoldtx CTV=
ENDIF", rather than taproot branches.
> [0]=C2=A0https://github.com/jamesob/simple-ctv-vault
> Likewise I don't think there's any examples of "this CTV immediately;or =
if fees are too high, this other CTV that pays more fees after Xdays", tho=
ugh potentially they could be hidden in the untaken taprootmerkle branches=
.
> I don't think there's any examples of two CTV outputs being combinedand =
spent in a single transaction.
> I don't see any txs with nSequence set meaningfully; though most (all?)o=
f the CTV spends seem to set nSequence to 0x00400000 which I thinkdoesn't =
have a different effect from 0xfffffffe?
> That looks to me like there's still not much practical (vs theoretical)e=
xploration of CTV going on; but perhaps it's an indication that CTVcould b=
e substantially simplified and still get all the benefits thatpeople are p=
articularly eager for.
> I am unsure that "learning in public" is required --
> For a consensus system, part of the learning is "this doesn't seem thati=
nteresting to me; is it actually valuable enough to others that thechange =
is worth the risk it imposes on me?" and that's not somethingyou can do pu=
rely in private.
> One challenge with building a soft fork is that people don't want tocomm=
it to spending time building something that relies on consensusfeatures an=
d run the risk that they might never get deployed. But thereverse of that =
is also a concern: you don't want to deploy consensuschanges and run the r=
isk that they won't actually turn out to be useful.
> Or, perhaps, to "meme-ify" it -- part of the "proof of work" for deployi=
nga consensus change is actually proving that it's going to be useful.Like=
 sha256 hashing, that does require real work, and it might turn outto be w=
asteful.
> Cheers,
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Content-Type: application/pgp-signature; name="signature.asc"
Content-Description: OpenPGP digital signature
Content-Disposition: attachment; filename="signature.asc"

-----BEGIN PGP SIGNATURE-----
Version: ProtonMail

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-----END PGP SIGNATURE-----


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