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Author Topic: Bitcoin Common Law System  (Read 10199 times)
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September 28, 2018, 12:17:04 AM

A few disputes broke out over the last several weeks in area such as bankruptcy and suspected scamming. We don't have definite laws or procedure on how to deal with trespassers or processing evidence yet.

But I think a couple of details is emerging as far as law goes:

1. Bankrupted person will defer all payments to creditors and wronged parties for the amount that was owned.

2. Those who are suspected of scamming but protest their innocence could pay a 'fine' in case of damning evidence.

Those these laws are not definite as it need some more iteration and more testing to make it work.

I would give it a couple of 'court cases' before something good emerge.
We all know that bitcoin is a decentralised crypto currency so there is no proper authentic regulating body over the bitcoin and all other so this little defect or I should say the improper regulation is misused by some social defaulters and they use bitcoin for many illegal activities like in selling drugs, explosives, money laundering and many more and now the government of those countries are keeping eye over bitcoin those who has legalised it in their nation and for the proper and beneficial use, bitcoin needs to get centralised all over the world.
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