Post
Topic
Board Bitcoin Discussion
Topic OP
opinion: it would be better off if taproot was rolled back
by
tyook
on 03/02/2023, 02:17:10 UTC
i'd like to share my opinion on a controversial topic and see what are the thoughts of bitcoiners here.

the taproot soft fork was pushed too fast, unlikely past soft forks with over 95% of consensus.
now it will have unintended consequences both for bitcoin layer 1 and layer 2:

on layer 1, with the introduction of ordinal, now bitcoin's blockchain is getting bloated with useless jpegs, nfts, and it could possibly become worse: child porn, porn in general, violent images, death threats, images that aim to dox someone, etc. Politicians, legislators and other state parasites will try to use it as an excuse (regardless of whether it makes sense) to arrest people whom they don't like under the claim of "sharing, transmitting child porn and other illegal content". It does not matter if (1) you didn't put the image there, or if (2) the image can only be displayed special software that can read, parse and understand Inscriptions (or other silly protocol) so that what is there is just a bunch of bytes unless you have the proper software. None of that will mater if they want to starting arresting people to use bitcoin (of course this will not be the end of bitcoin, it will continue to exist, but certainly will be bad for many people).

on layer 2, there is this horrible proposal called TARO, which makes use of taproot and pretends to bring digital assets to the LN, such as stablecoins, arbitrary tokens, nfts, etc. That way, people would be able to use the LN infrastructure to relay metadata of those digital assets, allowing folks to issue their shitcoin on LN. The LN protocol is decentralized, permissionless and anyone can use it without making the LN node public available or without revealing that you are actually using it, or with whom. It does not matter though: for regulators, it does not matter what you are using it for, they will say you are "operating money transmitter services" without a license, etc. Bring stablecoins (aka, shitcoins, fiat coins) to LN goes against the purpose of Bitcoin. If TARO enables that (as promised), it will just be another excuse for regulators to chase bitcoiners, node operators, and anyone using LN. Again, this will not be the end of LN, which is decentralized and will continue to exist, but this will cause harm to many.

we would be better off undoing taproot via a fork with at least a 95% consensus threshold of full nodes and miners.
Also, I think these kinda of softforks should not happen anymore. Only forks that fix bugs, fix vulnerabilities, enhance security, but not forks that "add cool features".