*Covenants are inherently shitcoinery because what they enable is delegation to a 3rd party run application. Delegation is non-monetary, it's application-level logic, which turns Bitcoin into an application-stack like Ethereum rather than money.
You can split keys with shamir, but someone still has to generate the secrets or do computation. You can't remove the someone from the equation which is what all these scams purport to do, until you read between the lines.
Application logic can only be an application that uses Bitcoin as money, Bitcoin as money cannot be an application. They are mutually exclusive.Covenants are inherently shitcoinery because what they enable is delegation to a 3rd party run application. Delegation is non-monetary, it's application-level logic, which turns Bitcoin into an application-stack like Ethereum rather than money.
You can split keys with shamir, but someone still has to generate the secrets or do computation. You can't remove the someone from the equation which is what all these scams purport to do, until you read between the lines.
Application logic can only be an application that uses Bitcoin as money, Bitcoin as money cannot be an application. They are mutually exclusive.*
Stacker News
reply on: Stacker Saloon \ stacker news
This looks really cool: https://stacker.news/items/1427029/r/Scoresby [10 comments]