Post
Topic
Board Legal
Re: Are Bitcoin private property
by
carlfebz2
on 16/11/2017, 19:46:55 UTC
I'm talking about the money kind of bitcoin.

Some situations where the bitcoin status of being a private property or not could arise:

> A mistakenly sends bitcoins to B, and A finds out who B is.
> A mistakenly shows his private keys to B (by just saying it), and A finds out who B is.
> B executes a replay attack on A.
> B, by an practical impossible luck, creates a private key that had founds that belonged to A already.
> B sends money to A (and A sends "something" or some information to B). Then, we don't know why, everyone decides to change their Bitcoin rules and the result is that A can't get to spend his money in the new version.

I started an article (here) trying to defend the idea that bitcoin is not private property, therefore all of the examples above couldn't be classified as theft or robbery (of private property).

What do you think?
Bitcoin is a private property until it is in your wallet , doesn't matter whether u spent it or just let it stay in the wallet. Once your money is not in your wallet its not your property anymore. It will belong to the person who receives it and you cannot do anything about it.
This is the beauty of having a bitcoin in your own wallet which if its stored in your wallet then no one could ever get it from you as long they don't know the keys which would access the wallet then it is still safe. It is considered as private property and cant be bruteforce a wallet since they would really need quantum computers to break hashes that's why theres no need to worry.