Topic: Bitcoin is reconstructing the current law system of human society - page 2. (Read 365 times)

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.

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.

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.)

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.

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….!

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

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?

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.

  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.

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.

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.

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?