Taproot proposal

[Pmalek]

Is there anything people could conceivably object to?  The communications so far all seem on point to me.

Besides the part that with Taproot the public key will be exposed before an output is spent, there doesn't seem to be any major objections. Even this doesn't seem like an issue as pooya87 explained in one of his previous posts. The article I linked to hasn't created confusion or uncertainty in regards to whether or not Bitcoin should go ahead with Taproot activation. If we arrive to a point where SHA2 is not quantum resistant, an exposed public key is the least of our problems.   

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[Carlton Banks]

So, steering the conversation back towards Taproot, is that being "sold" the right way?  Is there anything people could conceivably object to?  The communications so far all seem on point to me.

there's always some angle to be had for a committed axe-grinder, but no-one's made any credible claims that taproot/schnorr will be detrimental to Bitcoin.

[fillippone]

In a weird circular reference loop, let me report here this Bitcoin Magazine Article:


SPEEDY TRIAL HAS BEEN MERGED INTO BITCOIN CORE, POTENTIALLY SETTING PATH TO TAPROOT ACTIVATION

According to a GitHub pull request, a BIP 9-based implementation of Speedy Trial has been merged with the code for Bitcoin Core, offering a potential path for activating the much-anticipated protocol upgrade Taproot.

[Wind_FURY]

So, steering the conversation back towards Taproot, is that being "sold" the right way?  Is there anything people could conceivably object to?  The communications so far all seem on point to me.

I believe none. The drama/issue will be in “LOT=TRUE or LOT=FALSE”. There will be some actors in the network who might take advantage, and divide the community again. The Core developers are neutral, except for lukedashjr, who wants LOT=TRUE?

[Carlton Banks]

The drama/issue will be in “LOT=TRUE or LOT=FALSE”. There will be some actors in the network who might take advantage, and divide the community again. The Core developers are neutral, except for lukedashjr, who wants LOT=TRUE?

No, that's really been resolved with the Speedy Trial initiative (it was one of the reasons to take that route).

(note: I'm not entering into a conversation with you, please don't reply)

[fillippone]

My role on this thread is to provide a news flows for the less technical readers, so we don’t hassle knowledgeable people with silly, or already answered questions.

I point you to this piece by Aaron Van Wirdum:

THERE ARE NOW TWO TAPROOT ACTIVATION CLIENTS, HERE’S WHY

Taproot, the proposed Bitcoin protocol upgrade for compact and privacy-preserving smart contracts, is getting closer to activation. The Taproot code itself had already been included in the most recent major Bitcoin Core release (Bitcoin Core 0.21.0), which is currently the de-facto reference implementation for the Bitcoin protocol. The next step was to deploy activation code for the upgrade to go live across the Bitcoin network.

But due to technical and philosophical disagreements on how the Bitcoin protocol should be upgraded, discussion about Taproot activation turned out to be a long and sometimes heated debate. Now, it has resulted in two different Taproot activation paths, embedded in two main software clients that could in some scenarios even become incompatible with one another.

This is the story of these main two Taproot activation clients, the difference between them and some possible scenarios going forward.

[Karartma1]

I found the following Taproot 101 on the latest Jimmy Song article. This is a pretty damn good taproot explanation and I wanted to leave it here for you all.
https://river.com/learn/what-is-taproot/
I didn't know about this River Financial before, looks good to me. They do bitcoin-only!

[Pmalek]

<Snip>

Interesting read. The article you shared mentions:

Using this new script type, a user can create a UTXO which can be unlocked and spent by either the owner of the private key or anyone who can satisfy the requirements of any script within the Merkle tree.

What requirements within the Merkle Tree need to be satisfied exactly to be able to spend from P2TR? Being one of the parties that has his signature aggregated is one I assume. What else is there?

This is the first time I read that sending bitcoin to a P2TR output will become more expensive than sending to standard legacy or native segwit addresses. But spending those P2TR outputs will be much cheaper.   

[pooya87]

This is the first time I read that sending bitcoin to a P2TR output will become more expensive than sending to standard legacy or native segwit addresses. 

Since the P2TR outputs seem to be using SHA256 hash, they are only smaller than P2PKH, P2SH and P2WPKH but they take up the same space as a P2WSH output. This difference is only 12 bytes though (32 byte hash versus 20).

[Wind_FURY]

What are the latest developments of the Taproot Drama, which was supposed to be a quiet event, after the community, and its “leaders” learned the hard lessons during Bitcoin’s Scalability Debate.

Is May 7 still the date when miners start signalling for Taproot? Follow the current status with this site, https://taproot.watch/

[Carlton Banks]

What are the latest developments of the Taproot Drama

the most dramatic thing to happen since the last time you brought this up was... you trying to stoke tensions, just now. which was less dramatic (and more boring), because it's the umpteenth time you've tried

[nibor]

Is May 7 still the date when miners start signalling for Taproot? Follow the current status with this site, https://taproot.watch/

No I think they could have signalled any time. But today is the 1st time it would have counted. As 24th April was the start date for activation in this Core commit:
https://github.com/bitcoin/bitcoin/commit/cbd64c3a28a7466f421477daadc6e6e6b69b898a#diff-ff53e63501a5e89fd650b378c9708274df8ad5d38fcffa6c64be417c4d438b6dR92

Signalling has to be 90% of blocks in a difficulty reset period. And at 8pm UTC 1st May was when that reset. But nobody in the 1st 19 blocks has signalled - which is not a great start.

But we have till 11th Aug so no need to panic yet!

[philipma1957]

Is May 7 still the date when miners start signalling for Taproot? Follow the current status with this site, https://taproot.watch/

No I think they could have signalled any time. But today is the 1st time it would have counted. As 24th April was the start date for activation in this Core commit:
https://github.com/bitcoin/bitcoin/commit/cbd64c3a28a7466f421477daadc6e6e6b69b898a#diff-ff53e63501a5e89fd650b378c9708274df8ad5d38fcffa6c64be417c4d438b6dR92

Signalling has to be 90% of blocks in a difficulty reset period. And at 8pm UTC 1st May was when that reset. But nobody in the 1st 19 blocks has signalled - which is not a great start.

But we have till 11th Aug so no need to panic yet!

So any pool with 11% of the hash can block it correct?

I mine ?ph  hash on viabtc and I love ❤️ taproot as far as I can see on viabtc they are not asking me to vote.

Plus I have no idea what they vote for.

Not that I am blaming viabtc. Or any other pool.

But I would like to know

A ) list of pools for taproot.
B ) list of pools against taproot.
C ) how do I as a miner make sure I vote for taproot.
D ) or how do I as a miner make sure I do not vote for taproot.

For me if viabtc is against taproot it would be a lot of work to switch to another pool.

I have 100 plus miners to reprogram.

Many of us have 1000 plus miners to reprogram.

[nibor]

So any pool with 11% of the hash can block it correct?

Correct

Also we have our 1st signalling block!
https://blockchair.com/bitcoin/block/0000000000000000000c5fc4ba692dc2cf016b8f45ec75eea2e12274879945a8

WELLDONE SLUSHPOOL!

Version [bits]
101111100100000000000000000100

The critical "bit" is the 1 3 from the right.

Just now need a few more miners to update their code. But 1st is the most scary as assume they are all concerned the network might reject it costing them over $300k!

[nibor]

But I would like to know

A ) list of pools for taproot.
B ) list of pools against taproot.
C ) how do I as a miner make sure I vote for taproot.
D ) or how do I as a miner make sure I do not vote for taproot.

This looks your best answer:
https://taproot.watch/miners
Currently only SlushPool is signalling.

But I would give them till end of the week to update their code. As reason they are not signalling may just be that any code change is risky and needs planning etc..

But if they have not started signalling by end of next week (so 13th May) then do switch your miners to another pool. As this process always needs momentum - and if pools who are not voting in favour start losing hash rate it will encourage them to vote in favour.

[Carlton Banks]

Also we have our 1st signalling block!
https://blockchair.com/bitcoin/block/0000000000000000000c5fc4ba692dc2cf016b8f45ec75eea2e12274879945a8

WELLDONE SLUSHPOOL!

Version [bits]
101111100100000000000000000100

The critical "bit" is the 1 3 from the right.

Just now need a few more miners to update their code. But 1st is the most scary as assume they are all concerned the network might reject it costing them over $300k!

nice

[Daltonik]

Today on Twitter @bitcoincoreorg announced the availability of the Bitcoin Core 0.21.1 release in which the developers included a method for activating the Speedy Trial update https://bitcoincore.org/en/download/                     

[xmready]

How will I benefit from upgrading my node to 0.21.1 if I am not a miner? Should I wait to see what happens with signaling?

[nibor]

How will I benefit from upgrading my node to 0.21.1 if I am not a miner? Should I wait to see what happens with signaling?

Not at all - although if the soft fork is confirmed you will need to upgrade before November when it activates to be safe.

Although there is a bit of benefit if the pools see lots of node on 0.21.1 might make them more confident to start signalling.

Also note a couple more pools have upgraded. F2Pool (16.3%) and Foundary USA (5.43%). So about 25% of hash power is signalling - 1/3rd of the way there...

[xmready]

although if the soft fork is confirmed you will need to upgrade before November when it activates to be safe

What happens if the soft fork is confirmed and I upgrade after November? Why is it unsafe?