Are Bitcoin private property

[digaran]

The coins in your wallet are your private property and bitcoin is anyway no money from a juridical point of view. It has a value worth in fiat money but it isn't an official currency that has to be accepted. If A mistakenly sends bitcoins to B, and A finds out who B is, then this is an unjust enrichment and A has the right to demand his coins back from B.

WTF? so now if (A) sends out BTC to (B) he can jump the poor (B) just because she wasn't wearing a jump-proof pants? the late founder R.I.P Satoshi made the mining like a random lottery ticket draw, miners are too busy with finding blocks and they don't really want to mess with 12.5BTC potentially to be earned by changing-reversing transactions.
Do we have more private property than pussies? lol I know that I promised not to use that word again, but this is a necessary evil. they're extremely private, yet people grab and jump on them without permission.

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[Agostosmori]

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?

Like any other currencies you own the coin as long as you have it, once you sell it or traded it for something else then you don't own the property anymore. Since you are not getting the coin from no where like for bitcoin you are owning a coin from buying or mining  or as a payment for a service you made then it can be classified as theft if someone take it from you without permission.

[Harlot]

If it is not owned by the government it is a private property for your information. There is really no argument here as the Bitcoin you earn is yours and therefore it is a private property anything that you mistakenly send no matter how much it is you have the right to retrieve it as it is yours and "B" has no right to spend or use it.

[spinno]

yes bitcoins are private property else you dont have the right to hold them. you can choose to either keep, sell or trade with it. it your choice

[sindikat]

If it is not owned by the government it is a private property for your information. There is really no argument here as the Bitcoin you earn is yours and therefore it is a private property anything that you mistakenly send no matter how much it is you have the right to retrieve it as it is yours and "B" has no right to spend or use it.

Everyone has the right to dispose of their private property. Who can forbid you to transfer the right to dispose of his property to another person? Since the contract notarized is not necessary that your translation may be a voluntary act of transfer of ownership. You can not demand the return of wrongly listed bitcoins.

[Carmen01]

Yes it can be private like you add private key in the hard wallet that you only know.The only problem here when stocking your bitcoin is the volatile price but if you ask me about the volatile price now is not a problem because it will continue to grow little by little and if its going down i think 3% only in a month then it will grow again

[dunfida]

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?

I understand your illustration but those acts are like voluntarily passing up bitcoin into another point since we can able to possess bitcoin in our own wallet then its considered private property unless if its really mean to be passed on because of such transactions and come to think that generating a key wont really able give you the chance on accessing someones wallet. Therefore its an impossible stuff. The problem here is that if someone get your property (bitcoin)  you cant take it back since transaction and irreversible and i dont think if B would recieve that money he would decide to give it back.

[qwertyup23]

Yes, bitcoin is private property and anyone who takes my coins is a thief. Because the probability of someone accidentally generating my private keys is zero.

yes it is a fact that bitcoin is the property of the those people who are owning it,  it is not just like the fiat currency which is the property of the state and the  private property of the people.

I agree but it also depends on your respective laws in the country you reside on. Here in the Philippines, my colleague interviewed the lawyer at our BSP (Central Bank) and discussed about bitcoin's legitimacy. The lawyer said that bitcoin being a digitalized currency, it needs to be taxed if you got it from mining since it falls under the category of "other income". Also, bitcoin is being regarded here as 'property' and not as currency, thus it is not subjected to legal tender or for payment of debt. Though even if it was categorized by  the BSP, in practice we still treat it as an alternative currency for the payment of our obligations or for investment.

[Palmerson]

Yes, bitcoin is private property and anyone who takes my coins is a thief. Because the probability of someone accidentally generating my private keys is zero.

yes it is a fact that bitcoin is the property of the those people who are owning it,  it is not just like the fiat currency which is the property of the state and the  private property of the people.

I agree but it also depends on your respective laws in the country you reside on. Here in the Philippines, my colleague interviewed the lawyer at our BSP (Central Bank) and discussed about bitcoin's legitimacy. The lawyer said that bitcoin being a digitalized currency, it needs to be taxed if you got it from mining since it falls under the category of "other income". Also, bitcoin is being regarded here as 'property' and not as currency, thus it is not subjected to legal tender or for payment of debt. Though even if it was categorized by  the BSP, in practice we still treat it as an alternative currency for the payment of our obligations or for investment.

It seems to me that this is a bad lawyer. What it proves is that bitcoin is a currency? What are the signs of currency right now is bitcoin does except the name. How can he indicate its real value. The value of any currency is based on the indicators of the interbank rate. Where does he find these figures? It seems to me that counsel for the government.

[Coinbeauty]

For me, BTC is the private property. If I have 10 BTC in my wallet then I am the owner of these coins and no one have the permission to access them except me.

[Alwaysbitcoin]

Yes, bitcoin is the private property. It is not like the other currency, which is the property of the state and government. So it is the property of those people who are owed it.

[Awnar]

The property of a bitcoin depends on who has it, but if it was stolen.. then that is a different story.. its illegal but i dont know if theres some corresponding punishment for it. or if theres someone you could report it to. but to be sure, you need to be more careful hiding your private key, becausewhoever holds the key it is his/her property cause he/she got access to it. So be responsible in your wallet.

Also in private property IRL, you can charge someone who is trespassing on that property. In our case,you cant charge someone who got access on your account. As op stated it is A's fault if B accessed A. Because even if we are showing our address to different sites, it is not supposed to be hacked easily, we could even see transaction of particular address. The same case with all other wallets.

[bosede1]

Private property implies what is owned and accessible only to an individual and with this we can say that bitcoin is private property.

[Lancusters]

Private property implies what is owned and accessible only to an individual and with this we can say that bitcoin is private property.

In order to be eligible for a private property you should be able to prove it. How can you prove that bitcoin account belongs to you? Bitcoin is more like public property. Any person who has the access code can dispose of the bitcoins. Fiat, for example, is not the private property of the citizens. It is the property of the state. You only have the right to dispose of it.

[mrcash02]

Private property implies what is owned and accessible only to an individual and with this we can say that bitcoin is private property.

In order to be eligible for a private property you should be able to prove it. How can you prove that bitcoin account belongs to you? Bitcoin is more like public property. Any person who has the access code can dispose of the bitcoins. Fiat, for example, is not the private property of the citizens. It is the property of the state. You only have the right to dispose of it.

I'm sure it's not public, however I don't have any legal justify to argue Bitcoin isn't public... Bitcoin is surely private property, if someone takes your code and access your money it's theft. The problem is that there isn't guarantees on the law about it, for the local laws Bitcoin doesn't exist...

But as I know countries want Bitcoin holders to declare their coins as asset, paying annual tax and if they want it they must offer a guarantee back, no?

[Bonakid]

For me bitcoin is our private property that's why we called it a decentralized nobody can detect our transaction and no third party will allow.Maybe that is your mistake that somebody get your code.But there are some hackers or scammer who wants to get our coins and we need to be careful of that.

[MCVXYZ]

no bitcoin is not a private property by the its not owned by anyone its cryptocurrency network

You are wrong.We can own,organize our bitcoins as we want,we can get profit from this and this is not illegal,it means that bitcoin is private property.In my country,This is a legal point of view.The combination of these  (ownership,profitability,usage)concepts are the  determinant of property.this is a part of economical-social life and bitcoin is persmisible in economical relations,this is the reason why i think that BTC is a private property.All prerequisites are satisfied to use general,legal norms and to  be considered as private property.

[Protected101]

In my opinion bitcoin is private property due to its decentralized and no third party allow to transact our own transactions or a hackers that catch it up.I am sure that this is not public its for own safety and security why bitcoin is private property.

[ember.suc]

Bitcoin exchange transactions combines both private and public. the entire bitcoin transactions are done in the form of “address”. The “address” seems to be public but inside the address the value of bitcoin is private.

[SixOfFive]

Bitcoin in your wallet is your private property until you have your wallet private key. Being decentralize, you don't have any legal right on your BTC if you lost your private key and being transferable easily you can't really claim it after making a transaction.  It is the game of the possession, whom so ever have the private key, have the possession and is the real owner.