Bitcoin Forum

As is mentioned earlier, the creation of Bitcoin involves the cream of almost all human subjects, including social science and natural science. It’s a grand knowledge system. We can think what effect Bitcoin has left for the globe from varied angles. Personally, Bitcoin is changing the world comprehensively. Now, let’s reflect on how Bitcoin affects the law system. I suppose Bitcoin is reconstructing the law system of human society in an all-round way.

As far as I’m concerned, the largest modification of Bitcoin is made in law system compared with other facets of human society because governments of diversifies levels are legislating for Bitcoin, such as the constitution, civil law, criminal law, securities law, tax law, investment law and money-laundering law. In the past few centuries, no one single thing has ever incurred legislation from governments like Bitcoin in commercial civilization. Some countries define Bitcoin as property; some define it as currency; some define it as an illegal thing; some even do intensive legislation for Bitcoin. Especially El Salvador, by treating Bitcoin as its legal tender, unveiled the prologue for Bitcoin to transform from illegal asset to mainstream currency. That’s a small step in human history, yet a big one in human civilization.

It turns clearer and clearer that there’s already no single strength has the ability to control or eliminate Bitcoin in that Bitcoin has grown to be an important component of human civilization. With underlying technology and mathematical algorithm, Bitcoin proves to be a just and decentralized currency. Every time human society attempts to ban Bitcoin, it comes back with fiercer strength. At last, what changed is human society and government, not Bitcoin. Human governments cannot prohibit Bitcoin, they adjust to it by making laws.

So why do I take Bitcoin’s reconstructing human law system that seriously? Let’s take a look at the essence of law first.

As we all know, law exists in all corners of human society, which would fall out-of-order and civilization would be out of the question without the restraint from laws. The consensus among different subjects in the contemporary civilization system are reached through the establishment and application of laws. Yes, law is for the restraint of human consensus. The changed law system because of Bitcoin indicates the fact that the consensus of human society is constantly changing as well. The birth of new consensus means the appearance of new human civilization. That process won’t get finished overnight and that’s irreversible.

These are my opinions. How about you?

Well, that's just a BS right there. If the current people in power still has a control over a big group of the population, I don't think that it's going to change anything because bitcoin is a decentralized thing and it can be manipulated by malicious forces and the public doesn't have the right skills to criticize the society that they are living in.

Bitcoin only involves the financial system, you just making things complicated here. It might shake up the economics which is what we are seeing right now, but the current law of human society? Lol, I haven't heard that term though for a long time.

If I'm in your shoes, why don't you just start from the bitcoin whitepaper first? Read it from beginning to end. Or read Satoshi's post here to better understand bitcoin instead of spewing things around.

  No Just Law can ban/stop what is good and lawful. Free people have the right to use what is good/safe. Our fundamental laws gurantee rights. I think the problem is lawlessness. You will need be lawless person or develop an evil law to be able to ban what is right and better than existing alternatives.
Just go back to the good laws, and there won't be need for reconstruction. No Just country will reject good law.

The reason why Bitcoin has become popular is that it is not controlled by a certain country's government. This prevents it from stabilizing. Many countries cannot face it and accept it, and can only protect the interests of their people from the law. This is just helpless behavior.

You're overrating bitcoin as it is, it's not the cure all or the holy grail that will advance our civilization to become a type 2 civilization, and in that scale, bitcoin is pretty much a primitive invention. Also, it's kind of funny that you are saying this because how does bitcoin exactly change the laws, will it be able to change the laws regarding genocide, murder and human trafficking?

bitcoin is not reconstructing law

bitcoin. triggered human law makers to create new laws involving the relationship their fiat has to fiat services that also handle bitcoin

bitcoin itself is not AI, nor has arms and legs.
its always PEOPLE that change things.. triggered by human reactions/experiences

Thing is, only crypto investors think in this way. We should accept one important thing here, not every human is involved with the bitcoin or any other crypto currency. There is no global adoption for the crypto currency yet so this statement regarding reconstruction of laws is pretty incomplete.

How can we apply it to the whole human race if more than 3/4th population does not even trust bitcoin or most of them don’t even no it exists. It’s big thing mate!! The reconstruction of laws is being done only in the countries where crypto is at its best and those countries are very few. So….!

Rome wasn't built overnight !!!

The concept you are trying to speak is too complex so that it is a kind of threat that should be removed by spreading an uncontextual understanding. how a Satoshi has such a complicated digestion to present bitcoins in this kind of context. you need to straighten that all this is just a simple system.
You don't need to get us into the Bitcoin concept too complicated and verbose. hedge and you can double it all, but not overnight. we are in the modern zone and not in the ancient Greek civilization which said the king Pharaoh built pyramid palaces.

I do think that your words might be right. But unfortunately it depends on how the country is using cryptocurrencies. They might have a lot of ideas but there might not be any successful implementation.
What we have to look for is :
Ideas
Innovations
Implementations
At the same time you have to understand that all this process might take years. Which is something that is going to take a lot of hard work from every side and every section.
El Salvador is doing a great job for sure, not only that but it's also influencing other countries to implement usage of cryptocurrencies and at the same time its actually going to change the whole ecosystem of economy.
(Might also be considered an experimentation.)

Bitcoin uses cryptography, networking and a bit of game theory. That's it, it doesn't use "all the knowledge of humanity combined".


Laws come from government. Bitcoin has nothing to do with government. Bitcoin has nothing to do with governing society. It's just a currency. Bitcoin can't cure cancer, help us terraform Mars, end all wars and global hunger. The only thing it can do it offer an alternative to centralized payment systems and fiat currencies.

Here, of course, you greatly exaggerated. States and their legislative bodies constantly change laws, or adopt new ones, depending on the needs of society. Therefore, indeed, states are forced to adopt appropriate laws regarding cryptocurrencies, and not just bitcoins. However, this is a common practice and there is nothing special here. New objects for regulation appear and the state is forced to regulate it. I do not see anything unusual in this.

What are you talking about OP, restructuring the law bullshit? Dude, if you aren't born yesterday, you should know that there's a process before laws can even be put in enforcement and at the same time, a lot of heated debates are going to happen if there's a repeal.

It's because Law of human society is not really specified what he really means by it. I'm not getting all of it either but it could mean control the money and you control the people which is what we normally know. But now it seems like there is no one is in control anymore there is decentralization, there has to be an order which  is why there is regulation. There is order. It just depends on the country where we are.

If it's reconstructing that is to be discussed, there isn't going to be reconstruction unless there will be war and start over again.

IMO,
Bitcoin is an OLD SLOW OUTDATED Energy Wasting piece of 1st generation blockchain Tech.
That the BTC Core Devs refuse to update in favor of forcing users into their offchain solutions such as LN or Liquid.

Anyone that looks at the 3rd generation Blockchain Tech like Proof of Stake Cardano or Algorand,
can see that performance wise they blow the doors off that
piece of shit bitcoin, that you are so obsessed over.  :-*

Algorand has a 4 second block speed with complete finality of transaction data that bitcoin can never match.
That is not opinion that is scientific fact.

 8)



 
 

actually it.is.absolutely not needed in.the world of bitcoin because this has.absolutely no effect.on the government, especially regarding legal issues.because it.also.has absolutely.no effect.on the value of crypto currency if.the law is applied to bitcoin users.in their respective.countries

OP,you are basically just spamming the forum with posts about how magnificent and spectacular Bitcoin is and how it dramatically changed the life of all humans on the planet Earth and bla,bla,bla...
We already know that Bitcoin is awesome,so why don't you just stop spamming the forum. ;D
Are you trying to boost your post count or what?


Wow,did some forum bot or bad AI write this?This post has so many dots all over the place.
Learn punctuation bro. ;D

I think that people who are heavily invested in Bitcoin end up in a sort of tunnel vision mindset. The blockchain has proven itself to be a very simple and useful tool for tracking transactions that is relatively free of external interference while being universally accessible. Bitcoin and other cryptocurrency is definitely subject to the laws of wherever individual owners reside, however governments tend to be slow to adapt to new technology- they will definitely adapt when it comes to bringing in tax receipts. Bitcoin is causing new laws to be rewritten but it is far from beyond the reach of the law.

I also read some posts by this author. To be honest, it feels like a novice who has been in the forum for a long time. The punctuation of the writing editor is indeed a problem, but I can still feel the author’s sincerity. I have my own thoughts on this post. I will share with you:

• I think the author is a vision for the future. I think that in the next 20 years, when Bitcoin becomes an indispensable payment system for life, perhaps the law will be formulated around the economy, because many articles have already said that the blockchain has already Changed production relations.
  
• Bitcoin is still in its infancy stage of development. The decentralized nature of Bitcoin has drawn a clear line from the relationship with the government, and the legal system is formulated by the government. Therefore, Bitcoin will be restricted and restricted by government laws. The development of Bitcoin will change the laws of sovereign countries, but Bitcoin will not reconstruct the legal system, which cannot be achieved now.
  
• All of the recent posts by the author, some of the viewpoints are very novel, and sometimes we find it more verbose, or we already know it. Thinking about it, the author’s theoretical height and angle of thinking are still relatively long-term.
  

My opinion may not be accurate, I hope you will not criticize me harshly.

I think bitcoin only make a big change in economy. I am not sure about the overall society things. Bitcoin is not the first cashless payment method because there is credit card and etc. Anyway, in my opinion bitcoin give big help for human to avoid economic system which force most of us to experience inflation scheme. For me bitcoin and non bitcoin users are different society, which the new society (bitcoin users) have bigger opportunity to safe their wealth.

We cannot deny how powerful bitcoin became over the years yet its capability to make differences in the world is still far from improving or be declared. The current law system will only be bent by those who are in authority and if democratic, the citizens has the power to protest about that. Nevertheless, bitcoin would still make a huge impact in the future as it enters and introduces us to a new monetary system. We should be hopeful hence reasonable and logical with our declaration if we don't bitcoin to be misinterpreted by other people.

I am not sure I agree with this instead I would say that there is no real benefit or incentive for anyone to want to destroy Bitcoin. The governments could probably make it very hard for its citizens to invest in Bitcoin and use it which would effect the adoption rate but they do not have any incentive to do it and it creates additional revenue for them because they tax it.

I agree with a lot of things you are saying here, but don't underestimate the power of governments. Just take regimes like the Chinese one, if they want to give their citizens a hard time being involved with Bitcoin, they certainly can and will. China wants a currency they can control at will and also use it to surveil their people. They are not interested in a decentralized currency people use as a safe have to escape fiat systems. 

Here, let me answer your questions together. I see a lot of friends saying, "Bitcoin is reconstructing the laws of human society", this statement may be a bit exaggerated. But what I want to say is that this is what is happening. Now more and more countries have begun to legislate against Bitcoin and cryptocurrencies. Now the government's judicial system has changed. Some laws directly prohibit Bitcoin, some laws define Bitcoin as an asset, and some laws define Bitcoin as a currency. This is what is happening every day. At the same time, I believe that after some countries ban Bitcoin, they will eventually find that Bitcoin cannot be banned. Instead, they will change their laws to adapt to the existence of Bitcoin. Now we only see what has happened in the past 12 years. Can you imagine what changes Bitcoin will bring to mankind in the next 20 years? If we look at today’s article from the perspective of the next 20 years, do you still think Is it exaggerated?
I am communicating with you about Bitcoin. My view has always been that Bitcoin was born first, then blockchain was born, and finally, today's crypto world was formed step by step. The construction of the crypto world is guided by the decentralized thoughts behind Bitcoin. So, many times I talk about Bitcoin. It refers not only to Bitcoin itself, but also to the thoughts behind Bitcoin. Thoughts are eternal and indelible.

bitcoin has given us a lot of freedom of thought, and has made significant changes, as bitcoin goes on, the economy of society has started to improve, so what bitcoin has given us please take care, don't get me wrong, don't make laws that It doesn't make sense, I'm afraid that bitcoin will be misused by irresponsible people..

The idea of decentralization may still need some time to fully enfold. It could be two decades for sure. For now there are many old politicians at the top of most political systems who aren't quite the biggest fans of Bitcoin. Once the next generation takes over political power, that situation might change quickly.

When people go for the trend, governments always wanted to execute a law regarding that reason of hype like cryptocurrency does.  And I like the way they reconstruct the law system, as technologies are continously progressing, too and cryptocurrency is part of good innovations that human currently use.

If one country revised their law and reconstruct it the way both citizens and government may benefit, then it could have a good impact for the both economy and crypto industry

I don't think that the bitcoin it self that is redefining the systems, sure we can say that is a symbol and an example of what systems that we use should be like, the real system that is going to change our lives and should be used to replace all the systems, is the blockchain network, where everything is transparent and all transactions or deals or any interaction between tow or more individuals is visible and verified by everyone, so we eliminate the corruption that is shaded by the systems set by governments.

Yes, Bitcoin's transformation of human society must not be accomplished overnight, but it takes time to accumulate. It is not so much that Bitcoin transforms human society, as it is that human society adapts to the development of Bitcoin. When Bitcoin was born, there was no power to stop and destroy Bitcoin. It has flourished in its own way for 12 years. I believe that in the next 100 years, Bitcoin will continue to exist, so all aspects of our society must adapt to the rules of Bitcoin. Our legal system will also be more open, fair and transparent.

How about the emergence of computers and the Internet? Tons of laws had to be written or revised to account for them, too, so Bitcoin isn't unique here.
Whether a government can or cannot ban Bitcoin depends largely on two things: how democratic the country's regime is and how much people care about cryptos. If it's an authoritarian North Korea, Bitcoin can totally be banned there. If it's US, it's way harder to do something like this.
The laws should be based on consensus, but they aren't. There's a very limited number of people who write the laws and then vote on them, and the way they vote doesn't always represent the stance of the population. For example, polls show that 91% of US citizens support legality of marijuana (https://www.pewresearch.org/fact-tank/2021/04/16/americans-overwhelmingly-say-marijuana-should-be-legal-for-recreational-or-medical-use/), and yet it remains illegal on a federal level.

Bitcoin will reconstruct the legal system. This problem seems to have nothing to do with Bitcoin itself. The concept of Bitcoin does not need to be repeated. Many people have the same views. Don't give Bitcoin too much work responsibilities. Bitcoin is very simple.

But it is undeniable that as Bitcoin becomes more and more popular, more application scenarios appear, more sovereign countries recognize, and show very friendly policies, the Bitcoin network will be like the Internet in the 1990s. Bitcoin quietly changes our lives.

The principle of the Bitcoin network is that behind the computing power are miners and users who use computing devices to directly vote for the behavior that is most beneficial to them. One GPU has one vote, fair and reasonable, and childish. There is no representative system, no judges and police. Therefore, the Bitcoin network has essentially completed a radical practice of large-scale direct democracy. Everyone has established a new type of P2P contract with their direct voting rights.

Bitcoin began to spread by tech geeks. The real reason they love Bitcoin is that it not only creates a near-perfect currency, but also designs a system to maintain currency credit. The core of this system is direct democracy. Direct democracy dissolves the coercive contract of the legal tender of sovereign states. I call it the Bitcoin contract.

The economic foundation determines the superstructure. The economic contract of this financial environment will eventually affect the rights contract, and finally extend to the social, ideological, cultural, and so on. The legal system of the existing sovereign state will adapt to the Bitcoin contract.


These are just some of my thinking about Bitcoin. My personal ability is still limited and will not bring any changes. I hope that we will follow Bitcoin to change our lifestyle. Bitcoin is like a beautiful little boy (12 years old) who will gradually become more mature.

At present, it is not that Bitcoin is actively changing the legal systems of all countries in the world, but that governments around the world must adapt to the existence of Bitcoin and gradually establish a legal system in which legal tender and Bitcoin coexist. Because everyone slowly discovered that there is no force that can completely eliminate or control Bitcoin. Everyone can only adapt to the existence of Bitcoin.