Security bindings for bitcoin | Bitcointalksearch.org

YOSHIE

legendary

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Quote from: Godlovesyou on March 14, 2023, 12:53:02 AM

Do you know if btc have this binding records or what is the safety security of it?

Legally Bitcoin is not the same as Banks in general which must have a special record of deposits for accountability, but you can still record bitcoins in a place that we know is a storage wallet, that's the working law of Bitcoin.

However, if you want to inherit and give to another party, you can still do that, even though legally you don't have a special note/letter, but you still have an asset record in your wallet according to regulations that you record yourself set for the assets you want to inherit, however you also have to be careful about using wallet records, keys and so on.

AI Am I

newbie

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Quote from: Godlovesyou on March 14, 2023, 12:53:02 AM

What really do you think about safety of btc, probably some form of legal bindings legacy for the project. Am assuming if btc has this securities it will do it more good improving the stability of government collaborating with project for longer extensions and records.

Do you know if btc have this binding records or what is the safety security of it?

Bitcoin operates in a decentralized and trustless environment, which means that there are limited legal protections for Bitcoin users and investors. While some countries have implemented laws and regulations that specifically address Bitcoin and other cryptocurrencies, there is no universal regulatory framework for Bitcoin. The security of Bitcoin is based on a combination of cryptographic algorithms, peer-to-peer networking, and a consensus mechanism. The decentralized nature of the network means that there is no central point of control, which can make it more resilient to attacks and censorship.

However, it is important to remember that Bitcoin, like any technology, is not infallible and there have been instances where the network has faced challenges such as network congestion, high transaction fees, and security breaches.

Beparanf

hero member

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Quote from: Godlovesyou on March 14, 2023, 12:53:02 AM

What really do you think about safety of btc, probably some form of legal bindings legacy for the project. Am assuming if btc has this securities it will do it more good improving the stability of government collaborating with project for longer extensions and records.

Do you know if btc have this binding records or what is the safety security of it?

Bitcoin is decentralized. Legal bindings will just make Bitcoin centralized because all address will be registered and tracked by the government. Why you will need Bitcoin if you want to have a legal binding. More likely you are looking for a security tokens to have this feature and not Bitcoin.

zasad@

legendary

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Quote from: Godlovesyou on March 14, 2023, 12:53:02 AM

What really do you think about safety of btc, probably some form of legal bindings legacy for the project. Am assuming if btc has this securities it will do it more good improving the stability of government collaborating with project for longer extensions and records.

Do you know if btc have this binding records or what is the safety security of it?

The security of the ecosystem depends on the miners and their decentralization. Until the hashrate of miners from the USA exceeds 51%, then everything is fine. The legal aspects are the responsibility of the legislation of each country, but Bitcoin is legal in many countries and tax laws are already in place.

rat03gopoh

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Signature designer - start @$10 - PM me!

Quote from: Godlovesyou on March 14, 2023, 12:53:02 AM

Do you know if btc have this binding records or what is the safety security of it?

Bitcoin isn't bound by any law and it isn't necessary,the only thing that has validity for legal purposes is that it is secured by a transparent blockchain network. Any project that implements bitcoin, is basically filing for legal approval of its services. Governments that legalize bitcoin don't mean they've changed something from bitcoin according to their standard rules, it's the other way around.

Godlovesyou

jr. member

Activity: 104

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What really do you think about safety of btc, probably some form of legal bindings legacy for the project. Am assuming if btc has this securities it will do it more good improving the stability of government collaborating with project for longer extensions and records.

Do you know if btc have this binding records or what is the safety security of it?

Topic: Security bindings for bitcoin (Read 151 times)