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From: Jameson Lopp <jameson.lopp@gmail.com>
Date: Fri, 13 Jun 2025 11:41:40 -0400
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Subject: Re: [bitcoindev] CTV + CSFS: a letter
To: Antoine Poinsot <darosior@protonmail.com>
Cc: Matt Corallo <lf-lists@mattcorallo.com>, Andrew Poelstra <apoelstra@wpsoftware.net>, 
	Bitcoin Development Mailing List <bitcoindev@googlegroups.com>
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Casa (and many other companies focused on custody products) would love to
see vaulting functionality. I don't think any of us are too hung up on the
details of the particular implementation - we would rather have a "good"
tool than not have any tool because consensus has not been achieved for a
"perfect" solution.

What is the problem that makes vaults desirable? It's frankly because
there's no such thing as perfect security. Even if one designs an
architecture that is nearly perfectly secure against external threats, the
issue of internal threats (such as oneself, via social engineering) will
remain. The ability to require high value funds to sit in a "quarantine /
cooldown" address for some period of time before they can be sent to an
arbitrary address enables additional security measures a la watchtowers to
be designed. Being your own bank is still an incredibly scary proposition
because it's quite difficult to design custody solutions that tolerate
failures without leading to catastrophic loss. The more tools that custody
application engineers have available to them, the more guardrails we can
build into wallet software, and thus hopefully the more comfortable we can
make the general public with the idea of taking on the responsibility of
self custody.

To be clear, I'm not aware of CSFS improving the vaulting functionality
already available via CTV. As far as I can tell, CSFS is one of the least
controversial opcodes proposed in a long time and just seems to be an
all-around win with no risks / trade-offs, so why not bundle it in?

I'm not sure how to parse Antoine's claim that CTV+CSFS doesn't enable
vaults given that there has already been a CTV vault client proof of
concept for 3 years: https://github.com/jamesob/simple-ctv-vault

On Fri, Jun 13, 2025 at 9:07=E2=80=AFAM Antoine Poinsot <darosior@protonmai=
l.com>
wrote:

> Jameson,
>
> Thanks for sharing. Although i grew more skeptical of the reactive
> security model of vaults as i implemented them in practice for real users=
,
> i can appreciate people's mileage may vary.
>
> That said, consensus-enforced vaults require a mechanism to forward any
> amount received on a script A to a pre-committed script B. CTV+CSFS does
> not enable this, and a primitive that actually does (like CCV) is more
> controversial because of its potency. I see the CTV+CSFS bundle as
> maximizing "bang for your buck" in terms of capabilities enabled compared
> to the accompanying risk. If we do want vaults, then we need to get past
> the MEVil concerns and much more interesting primitives are actually on t=
he
> table.
>
> I also appreciate that CTV is nice to have for CCV vaults, but a potentia=
l
> future use case that is not enabled by one proposal cannot be used to
> motivate said proposal.
>
> Best,
> Antoine Poinsot
> On Friday, June 13th, 2025 at 7:15 AM, Jameson Lopp <
> jameson.lopp@gmail.com> wrote:
>
> > Unlike a generic "We Want Things" sign-on letter, individual messages
> indicating desire to utilize features is way more compelling.
>
> Then I submit my essay from 2 years ago (
> https://blog.casa.io/why-bitcoin-needs-covenants/) and will quote myself:
>
> "There are clearly a LOT of use cases that could potentially be unlocked
> with the right kind of covenant implementation. Personally, having spent =
8
> years working on high security multi-signature wallets, I'm most interest=
ed
> in vaults. I believe the value they offer is quite straightforward and is
> applicable to every single self-custody bitcoin user, regardless of what
> type of wallet they are running."
>
> - Jameson
>
> On Thu, Jun 12, 2025 at 6:54=E2=80=AFPM Matt Corallo <lf-lists@mattcorall=
o.com>
> wrote:
>
>> To be fair to James, in my (luckily rather brief) experience with
>> Bitcoin-consensus-letter-writing,
>> its nearly impossible to forge a statement that everyone agrees to that
>> is consistently interpreted.
>>
>> Matt
>>
>> On 6/12/25 3:51 PM, Andrew Poelstra wrote:
>> > Le Thu, Jun 12, 2025 at 02:38:13PM -0400, James O'Beirne a =C3=A9crit =
:
>> >>
>> >> As the person who coordinated the letter, I can say that this is not =
an
>> >> accurate characterization of the signers' intent. Everyone who signed
>> >> explicitly wants to see the imminent review, integration, and
>> activation
>> >> planning for CTV+CSFS specifically. The letter is intentionally
>> concise to
>> >> make sure there are no misunderstandings about that.
>> >>
>> >> I spoke to each person on the original list of signatories who either
>> did
>> >> (or didn't) sign and this was made very clear. Some people didn't sig=
n
>> as a
>> >> result of what the letter says.
>> >>
>> >
>> > The letter asks Core to "prioritize the review and integration" on an
>> > accelerated timeline, and that this will "allow" for "activation
>> planning".
>> >
>> > Early drafts of the letter did ask for actual integration and even
>> > activation, but I did not sign any of those early drafts. It was not
>> > until the language was weakened to be about priorities and planning (a=
nd
>> > to be a "respectful ask" rather some sort of demand) that I signed on.
>> >
>> >
>> > The letter is concise but unfortunately I think Matt is correct that i=
t
>> > offers a broad range of interpretations, even among the signers.
>> >
>> >
>>
>> --
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>> To view this discussion visit
>> https://groups.google.com/d/msgid/bitcoindev/f8b37a59-0897-40df-a08e-781=
2c806a716%40mattcorallo.com
>> .
>>
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<div dir=3D"ltr">Casa (and many other companies focused on custody products=
) would love to see vaulting functionality. I don&#39;t think any of us are=
 too hung up on the details of the particular implementation - we would rat=
her have a &quot;good&quot; tool than not have any tool because consensus h=
as not been achieved for a &quot;perfect&quot; solution.<div><br></div><div=
>What is the problem that makes vaults desirable? It&#39;s frankly because =
there&#39;s no such thing as perfect security. Even if one designs an archi=
tecture that is nearly perfectly secure against external threats, the issue=
 of internal threats (such as oneself, via social engineering) will remain.=
 The ability to require high value funds to sit in a &quot;quarantine / coo=
ldown&quot; address for some period of time before they can be sent to an a=
rbitrary address enables additional security measures a la watchtowers to b=
e designed. Being your own bank is still an incredibly scary proposition be=
cause it&#39;s quite difficult to design custody solutions that tolerate fa=
ilures without leading to catastrophic loss. The more tools that custody ap=
plication engineers have available to them, the more guardrails we can buil=
d into wallet software, and thus hopefully the more comfortable we can make=
 the general public with the idea of taking on the responsibility of self c=
ustody.</div><div><br></div><div>To be clear, I&#39;m not aware of CSFS imp=
roving the vaulting functionality already available via CTV. As far as I ca=
n tell, CSFS is one of the least controversial opcodes proposed in a long t=
ime and just seems to be an all-around win with no risks / trade-offs, so w=
hy not bundle it in?</div><div><br></div><div>I&#39;m not sure how to parse=
 Antoine&#39;s claim that CTV+CSFS doesn&#39;t enable vaults given that the=
re has already been a CTV vault client proof of concept for 3 years: <a hre=
f=3D"https://github.com/jamesob/simple-ctv-vault">https://github.com/jameso=
b/simple-ctv-vault</a></div></div><br><div class=3D"gmail_quote gmail_quote=
_container"><div dir=3D"ltr" class=3D"gmail_attr">On Fri, Jun 13, 2025 at 9=
:07=E2=80=AFAM Antoine Poinsot &lt;<a href=3D"mailto:darosior@protonmail.co=
m">darosior@protonmail.com</a>&gt; wrote:<br></div><blockquote class=3D"gma=
il_quote" style=3D"margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,2=
04,204);padding-left:1ex"><div style=3D"font-family:Arial,sans-serif;font-s=
ize:14px">Jameson,</div><div style=3D"font-family:Arial,sans-serif;font-siz=
e:14px"><br></div><div style=3D"font-family:Arial,sans-serif;font-size:14px=
">Thanks for sharing. Although i grew more skeptical of the reactive securi=
ty model of vaults as i implemented them in practice for real users, i can =
appreciate people&#39;s mileage may vary.</div><div style=3D"font-family:Ar=
ial,sans-serif;font-size:14px"><br></div><div style=3D"font-family:Arial,sa=
ns-serif;font-size:14px">That said, consensus-enforced vaults require a mec=
hanism to forward any amount received on a script A to a pre-committed scri=
pt B. CTV+CSFS does not enable this, and a primitive that actually does (li=
ke CCV) is more controversial because of its potency. I see the CTV+CSFS bu=
ndle as maximizing &quot;bang for your buck&quot; in terms of capabilities =
enabled compared to the accompanying risk. If we do want vaults, then we ne=
ed to get past the MEVil concerns and much more interesting primitives are =
actually on the table.<br></div><div style=3D"font-family:Arial,sans-serif;=
font-size:14px"><br></div><div style=3D"font-family:Arial,sans-serif;font-s=
ize:14px">I also appreciate that CTV is nice to have for CCV vaults, but a =
potential future use case that is not enabled by one proposal cannot be use=
d to motivate said proposal.</div><div style=3D"font-family:Arial,sans-seri=
f;font-size:14px"><br></div><div style=3D"font-family:Arial,sans-serif;font=
-size:14px">Best,<br>Antoine Poinsot<br></div><div>
        On Friday, June 13th, 2025 at 7:15 AM, Jameson Lopp &lt;<a href=3D"=
mailto:jameson.lopp@gmail.com" target=3D"_blank">jameson.lopp@gmail.com</a>=
&gt; wrote:<br>
        <blockquote type=3D"cite">
            <div dir=3D"ltr">&gt; Unlike a generic &quot;We Want Things&quo=
t; sign-on letter, individual messages indicating desire to utilize feature=
s is way more compelling.<div><br></div><div>Then I submit my essay from 2 =
years ago (<a href=3D"https://blog.casa.io/why-bitcoin-needs-covenants/" re=
l=3D"noreferrer nofollow noopener" target=3D"_blank">https://blog.casa.io/w=
hy-bitcoin-needs-covenants/</a>) and will quote myself:</div><div><br></div=
><div>&quot;There are clearly a LOT of use cases that could potentially be =
unlocked with the right kind of covenant implementation. Personally, having=
 spent 8 years working on high security multi-signature wallets, I&#39;m mo=
st interested in vaults. I believe the value they offer is quite straightfo=
rward and is applicable to every single self-custody bitcoin user, regardle=
ss of what type of wallet they are running.&quot;</div><div><br></div><div>=
- Jameson</div></div><br><div class=3D"gmail_quote"><div class=3D"gmail_att=
r" dir=3D"ltr">On Thu, Jun 12, 2025 at 6:54=E2=80=AFPM Matt Corallo &lt;<a =
href=3D"mailto:lf-lists@mattcorallo.com" rel=3D"noreferrer nofollow noopene=
r" target=3D"_blank">lf-lists@mattcorallo.com</a>&gt; wrote:<br></div><bloc=
kquote style=3D"margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,=
204);padding-left:1ex" class=3D"gmail_quote">To be fair to James, in my (lu=
ckily rather brief) experience with Bitcoin-consensus-letter-writing, <br>
its nearly impossible to forge a statement that everyone agrees to that is =
consistently interpreted.<br>
<br>
Matt<br>
<br>
On 6/12/25 3:51 PM, Andrew Poelstra wrote:<br>
&gt; Le Thu, Jun 12, 2025 at 02:38:13PM -0400, James O&#39;Beirne a =C3=A9c=
rit :<br>
&gt;&gt;<br>
&gt;&gt; As the person who coordinated the letter, I can say that this is n=
ot an<br>
&gt;&gt; accurate characterization of the signers&#39; intent. Everyone who=
 signed<br>
&gt;&gt; explicitly wants to see the imminent review, integration, and acti=
vation<br>
&gt;&gt; planning for CTV+CSFS specifically. The letter is intentionally co=
ncise to<br>
&gt;&gt; make sure there are no misunderstandings about that.<br>
&gt;&gt;<br>
&gt;&gt; I spoke to each person on the original list of signatories who eit=
her did<br>
&gt;&gt; (or didn&#39;t) sign and this was made very clear. Some people did=
n&#39;t sign as a<br>
&gt;&gt; result of what the letter says.<br>
&gt;&gt;<br>
&gt; <br>
&gt; The letter asks Core to &quot;prioritize the review and integration&qu=
ot; on an<br>
&gt; accelerated timeline, and that this will &quot;allow&quot; for &quot;a=
ctivation planning&quot;.<br>
&gt; <br>
&gt; Early drafts of the letter did ask for actual integration and even<br>
&gt; activation, but I did not sign any of those early drafts. It was not<b=
r>
&gt; until the language was weakened to be about priorities and planning (a=
nd<br>
&gt; to be a &quot;respectful ask&quot; rather some sort of demand) that I =
signed on.<br>
&gt; <br>
&gt; <br>
&gt; The letter is concise but unfortunately I think Matt is correct that i=
t<br>
&gt; offers a broad range of interpretations, even among the signers.<br>
&gt; <br>
&gt; <br>
<br>
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</blockquote></div>

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    </div></blockquote></div>

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