Bitcoin is invented by Satoshi Nakamoto but it is common knowledge that his identity is not known.If there arise any dispute related to bitcoin or its ownership,how would it be settled by court of law or in other words who is the legal owner of bitcoin?
It is free for use for everyone. Bitcoin tech in this case - blockchain was never patented and it is completely open source project. Therefore is not own by anyone or anything.
Topic: Who owns Bitcoin? - page 10. (Read 35998 times)
It is a common knowledge that Satoshi created bitcoin,if in future he claimed his ownership on it and move the court to seek legal interference in getting back all coins in circulation or stored,what would possibly court rule?
nothing will happe, satoshi cant do that . miners have the proof of work, so they own bitcoins . and so do we buying bitcoins become the owner.
I think you need to watch:
Udemy The Complete Bitcoin Course.. you can find it on youtube
They explain in the first 2 minutes who owns bitcoin. No one!
Udemy The Complete Bitcoin Course.. you can find it on youtube
They explain in the first 2 minutes who owns bitcoin. No one!
He is not talking about who own bitcoin. I think what he's trying to emphasizes is the uniqueness in bitcoin and how the miner are the one who ripe the fruit of every satoshi they mine not the inventor.
I think you need to watch:
Udemy The Complete Bitcoin Course.. you can find it on youtube
They explain in the first 2 minutes who owns bitcoin. No one!
Udemy The Complete Bitcoin Course.. you can find it on youtube
They explain in the first 2 minutes who owns bitcoin. No one!
Simple, the answer is "Us". We own Bitcoin, just check your wallet and you'll see that there's a Bitcoin in it.
Good to hear that and that's also relieving. You guys got me scared for seconds
Simple, the answer is "Us". We own Bitcoin, just check your wallet and you'll see that there's a Bitcoin in it.
Good to hear that and that's also relieving. You guys got me scared for seconds
Simple, the answer is "Us". We own Bitcoin, just check your wallet and you'll see that there's a Bitcoin in it.
The perfect aspect of the digital currency (Bitcoin is the mother of all) that no law , government ,or policy can prevent you from using bitcoin so this mean everyone participate in the blockchain is the owner of bitcoin.
Does that mean bitcoin is allow in Dubai?
hero member
Activity: 714
Merit: 500
IF YOU Enjoy Trade with ME ..PUT Feedback Please
The perfect aspect of the digital currency (Bitcoin is the mother of all) that no law , government ,or policy can prevent you from using bitcoin so this mean everyone participate in the blockchain is the owner of bitcoin.
Every user/participant who is having some bitcoins, meaning holding the private keys, is an owner of Bitcoin!
I guess this will be the majority here.
I guess this will be the majority here.
Bitcoin is invented by Satoshi Nakamoto but it is common knowledge that his identity is not known.If there arise any dispute related to bitcoin or its ownership,how would it be settled by court of law or in other words who is the legal owner of bitcoin?
Hi Wapinter,
Regulators will vary on a per-country basis, but you can expect to see national financial regulators interested in bitcoin and other virtual currencies, potentially along with regional regulators at a sub-country level.
Please view below useful link.
1) https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country
Congressional Research Service
=========================
2)https://www.fas.org/sgp/crs/misc/R43339.pdf
Thank you
CryptoJeweler
Dubai is not included
Everyone can be one of the owners. It is governed by the rules of mathematics. If the encryption is cracked one day, bitcoin is done.
Everyone owns bitcoin as long as you have an address with 1 satoshi in it holding the private you owned it.
Satoshi Nakamoto left 2010 but he dont own bitcoin just the concept.
Satoshi Nakamoto left 2010 but he dont own bitcoin just the concept.
Bitcoin is assumed to be decentralized so it is owned by all who hold bitcoin. However, if we look at the distribution of bitcoin, then we could safely deduce that bitcoin is held by a minority of early adopters who held onto their coin or who had invested it wisely. So, that begs the question....is bitcoin decentralized in the truest sense of the definition?
Bitcoin is invented by Satoshi Nakamoto but it is common knowledge that his identity is not known.If there arise any dispute related to bitcoin or its ownership,how would it be settled by court of law or in other words who is the legal owner of bitcoin?
The legal owner of any bitcoin is the person holding the private key of the address which contains those bitcoins. That's it.
Don't need court or anyone else to decide that.
Exactly, you are the owner, I am the owner, my uncle is the owner. We are all bitcoin - decentralized.
It is a common knowledge that Satoshi created bitcoin,if in future he claimed his ownership on it and move the court to seek legal interference in getting back all coins in circulation or stored,what would possibly court rule?
He would not have success.
Bitcoin has been published as Open source protocol. Basically no way of someone "owning" it atm
It is a common knowledge that Satoshi created bitcoin,if in future he claimed his ownership on it and move the court to seek legal interference in getting back all coins in circulation or stored,what would possibly court rule?
From a perspective of someone living in the U.S. The bitcoins or fraction of bitcoin you own are yours. You can do whatever you want with it as long as what you're buying/selling is not illegal.
It is the same as U.S. fiat: you can take a dollar and light it on fire, and it is legal (as long as you don't cause a forest fire).
So far, in the U.S., it is mostly legal to buy and invest (check with state laws first). When it comes to selling, however, it becomes a gray area in a couple of ways:
1) How is it taxed? I believe any profit is taxed as capital gains. But what if you trade bitcoins for a living? Do you have to then pay income tax?
2) What kind of licensing do you need? MSB, MTL? None? Based on my own forum reading on trading sites, it seems as though there is no clear answer. Traders are currently on the bleeding edge of owning to selling, then back to owning and back to selling, and on and on.
I think pending and future litigation will determine who owns bitcoin, and after you've owned and either spent or resold, what kind of taxes can be levied on it.
It is the same as U.S. fiat: you can take a dollar and light it on fire, and it is legal (as long as you don't cause a forest fire).
So far, in the U.S., it is mostly legal to buy and invest (check with state laws first). When it comes to selling, however, it becomes a gray area in a couple of ways:
1) How is it taxed? I believe any profit is taxed as capital gains. But what if you trade bitcoins for a living? Do you have to then pay income tax?
2) What kind of licensing do you need? MSB, MTL? None? Based on my own forum reading on trading sites, it seems as though there is no clear answer. Traders are currently on the bleeding edge of owning to selling, then back to owning and back to selling, and on and on.
I think pending and future litigation will determine who owns bitcoin, and after you've owned and either spent or resold, what kind of taxes can be levied on it.
Bitcoin belongs to its users, which are we. We own the system and not much can be done to stop bitcoin. Not from the inside nor the outside. It probably is the first currency that is owned by no one. Except maybe shell money on some islands.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
nobody owned it, it's a cryptocurrencies,if fiat owned by government and distributed to its civillian,bitcoin firstly created by satoshi nakamoto and distributed to the users,bitcoin function near to fiat because it's currency
Jump to: