CTV and the covenant activation debates
The long fight over OP_CHECKTEMPLATEVERIFY (BIP-119): Jeremy Rubin's 2022 Speedy Trial plan, a 2025 open letter, and a 2026 activation meeting.
On S17 E38 Vlad recalled that “Jeremy Rubin tried to do a Speedy Trial for CTV”, and Keagan McClelland explained the opcode's old name, OP_SECURE_THE_BAG.[6][3]
The opcode
BIP-119, by Jeremy Rubin, proposes “a new opcode, OP_CHECKTEMPLATEVERIFY, to be activated as a change to the semantics of OP_NOP4”[1]. Bitcoin Optech says CTV lets an output specify how its funds may be spent, “a design known in Bitcoin as a covenant”[2]. On S17 E38 Keagan McClelland said it “used to be called OP_SECURE_THE_BAG”[3].
2022: Speedy Trial
On 17 April 2022 Rubin proposed a “Speedy Trial release similar to Taproots”, with signalling from May 5th, 2022, a timeout of August 12th, 2022 and activation height 762048[4]. Optech summarised a 90% signalling threshold and objections: Anthony Towns noted that nearly all signet transactions seemed built with the same software, and Matt Corallo questioned whether CTV was the best covenant design[5]. Vlad recalled the attempt on S17 E38[6]. See Speedy Trial.
2025–2026
In July 2025 Optech reported an open letter posted by James O'Beirne, signed by 66 individuals, asking Core contributors to prioritise review of CTV and CSFS “within the next six months”[7]. In January 2026 Optech reported a CTV activation meeting whose attendees agreed on “conservative parameters” and BIP9[8]. The BIP's status is still Draft in the repository fetched for this wiki[1].
Heard on Bitcoin Takeover
On S16 E23 (May 2025), James O'Beirne said: “CTV, CheckSigFromStack, those things are pretty well understood by everybody not to have any kind of MEV risk.”[9]
References
- primaryBIP-119, “CHECKTEMPLATEVERIFY” (Jeremy Rubin) [archived]
- secondaryBitcoin Optech topic, “OP_CHECKTEMPLATEVERIFY” [archived]
- episodeS17 E38: Keagan McClelland — CTV “used to be called OP_SECURE_THE_BAG”▶ listen at 10:17timestamp transcript-derived, pending a listen [archived]
- primaryJeremy Rubin, “7 Theses on a next step for BIP-119”, rubin.io, 17 Apr 2022 [archived]
- secondaryBitcoin Optech Newsletter, 27 Apr 2022, “Discussion about activating CTV” [archived]
- episodeS17 E38: Vlad on Jeremy Rubin's 2022 Speedy Trial attempt for CTV▶ listen at 7:53timestamp transcript-derived, pending a listen [archived]
- secondaryBitcoin Optech Newsletter, 4 Jul 2025, “Open letter about CTV and CSFS” [archived]
- secondaryBitcoin Optech Newsletter, 2 Jan 2026, “CTV activation meeting” [archived]
- episodeS16 E23: James O'Beirne on CTV and MEV▶ listen at 5:34timestamp transcript-derived, pending a listen [archived]