S16 E65: Moonsettler on OP_CTV & Failing to Improve Bitcoin

Moonsettler is a bitconer who adheres to the old school cypherpunk values and believes that the best way ahead is to enable OP_CTV (BIP119) or LNHANCE. However, the biggest problem is the generalized loss of focus. If last year there seemed to be consensus that Bitcoin needs covenants to improve scalability and bring new use cases, now the landscape is rather gloomy. Even Moonsettler changed his Twitter screen name to Doomsettler, as a reflection on this status quo. 00:01:16 Welcome Moonsettler (Doomsettler) 00:02:40 Delayed Interview and Original eCash Debate 00:03:14 Why eCash (Chaumian Cash) Never Took Off 00:04:00 Criticism of Custodial Scaling Solutions 00:05:14 Bitcoin as Decentralized Chaumian eCash 00:06:13 Fake Austrian Economics and Full Reserve Myths 00:08:32 Loss of "No Trusted Third Parties" Culture 00:09:52 Verifiable Supply vs Historical Fraud 00:13:40 Proof of Liabilities in eCash Mints 00:15:42 Cashu Fraud Proofs and Bug Bounty 00:18:20 Chaumian Blind Signatures Explained 00:24:48 Non-Custodial Credit eCash Ideas 00:30:39 Why Debit eCash Won't Scale Bitcoin 00:36:34 Bitcoin Like Linux – Oppose Custodial Layers 00:37:13 Unlimited Paper Bitcoin vs 21M Cap 00:41:25 Loss of Proof of Keys Culture 00:46:26 Doomsettler Mindset on Bitcoin's Future 01:09:30 Early Exchange Compliance Issues 01:11:37 Satoshi's Peer-to-Peer Vision 01:15:13 Satoshi's OPSEC and Disappearance 01:19:13 Craig Wright Not Satoshi 01:26:05 Libertaria and Frontier Culture 01:28:31 No More Frontiers for Freedom 01:39:21 App Delistings and PWA Debate 01:49:16 Twitter Worse Under Elon Musk 01:55:35 AI Ruining Internet Trust 01:56:33 Introduction to Covenants 01:57:04 Covenant = Unbreakable Promise 02:00:55 History of Covenant Discussions 02:01:29 Permanent Encumbrance FUD Debunked 02:03:38 Control Today via Multisig (No Covenants) 02:07:26 Covenants Don't Break Fungibility 02:08:35 Covenants Reduce Trust in L2 02:11:46 Post-Quantum Covenant Advantages 02:13:46 OP_CTV Explained 02:15:42 Non-Interactive L2 Settlements 02:20:23 Congestion Control with Covenants 02:29:08 Ordinals Drama & OP_CAT Risks 02:31:43 Jeremy Rubin Context 02:33:49 LNHANCE Package (CTV + More) 02:36:51 Why LNHANCE is Conservative 02:44:26 2022 CTV Activation Drama 02:47:27 Curiosity vs Annoyance Motivation 02:49:04 Andreas Antonopoulos FUD Clip 02:51:15 Need for Covenant FUD FAQ 02:53:47 Persistent CTV Critics 03:55:27 Covenant FUD Knowledge Base Need 03:56:26 Steven Roose Support 03:57:40 Covenant Table on Wiki 03:58:56 Isolated Op Code Comparisons Issues 04:00:34 OPCAT vs CTV Preferences 04:01:48 Table Inconsistencies 04:02:19 Ordinals Devs Pushing OPCAT 04:03:26 CTV Strengths and Risks 04:10:22 Ideal Packages (Great Script Restoration) 04:43:24 Pink Floyd "The Wall" Analogy 04:45:49 Citadel Critique 04:49:49 Need for New Frontiers 04:51:56 Disagreeable Societies Preserve Freedom 04:54:56 Special Economic Zones for Renewal 04:57:50 Altcoins as Competition/Experiments 04:59:20 Privacy Coins Driving Response 06:00:34 Monero Privacy & Community 06:04:42 FCMP++ Upgrade 06:05:37 Monero Quantum Roadmap 06:07:16 Quantum Risks to Monero 06:09:47 Zcash Preference & Compatibility 06:11:34 ZK Privacy Advantages 06:13:16 Drivechains & Peg Risks 06:17:45 Spacechains 06:20:31 Quantum Threats to ECDSA 06:26:49 PQ Soft/Hard Fork Debate 06:34:57 Covenants for PQ Vaults 06:38:14 Ark Protocol 06:42:33 Lightning Custodial Risks 06:50:19 BitVM & Optimistic Rollups 06:55:44 Bitcoin Dev Culture Disappointment 07:49:05 Austrian vs Cypherpunk Values 07:53:20 Austrians Dislike Data 07:54:39 Full Reserve Myth 07:55:56 Core Dev Covenant Silence 07:57:32 Core Ignoring Covenants 07:58:22 Floppy's Drunk Posting 08:00:38 Calle's Cashu Story 08:02:02 Privacy Respect & Avoiding Doxing 08:02:29 Floppy's Drunk Tweets 08:03:48 Tolerance for Abusive Behavior 08:04:15 Understanding Non-Engagement with Floppy 08:04:32 Floppy as Builder (Joinstr Plugin) 08:04:57 Luke Dashjr Funding Complaints 08:05:23 Luke's Likability & Hack 08:06:36 Ocean Mining Business Model 08:08:36 Reducing Antpool Hash Dominance 08:08:56 Miner Template Building Debate 08:09:02 Mining Centralization Concerns 09:38:04 9+ Hour Marathon Reflection 09:38:45 Girlfriend & Cat Interruptions 09:39:12 How to Follow Moonsettler 09:39:45 Moonsettler's Twitter Content Focus 09:40:38 Shoutout to SimulXXX (CTV Advocate) 09:41:29 Moonsettler as Crypto Hobbyist 09:42:37 Major Contributions Discussion 09:43:38 Non-Interactive Hardware Wallet Proofs 09:44:36 Sharing Personal Bitcoin Vision 09:45:14 Coldcard Experimental Implementation 10:03:18 Seed Backup Durability & Preference for Burnable Paper Backups 10:04:22 Manual Entropy & Seed Splitting 10:05:01 Early Self-Custody Cheat Sheets 10:05:25 Hardware Wallet Entropy Risks 10:06:30 Dice-Rolled Seeds vs Hardware 10:07:27 2-of-3 Backup Scheme 10:07:59 Crypto Steel Promo 10:08:24 10-Hour Mark, No Bathroom Break 10:08:49 Thanks & Merry Christmas 10:09:41 Next Episode Tease