Bitcoin News
By James Thorp
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Craig Wight has filed his lawsuit in court in the Chancery Division, London on 2/24/2021. Summary: Business-Part 7 Claim – Breach of fiduciary duty.
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It just feels like courts have no power over Bitcoin. No court, no matter how powerful can declare 1+1=3 and have it be accepted as truth.
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Several prominent developers associated with Bitcoin are the defendants.
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One of the users stated, there is a line where human law stops, and natural law begins. You can't legislate away gravity.
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However, another user clarified stating, GDPR is law in EU, and all software and webapps have to comply. Same human law. You can legislate all what can be made better by people.
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You can disagree with Craig or not believe that those Bitcoins were his in the first place and might be right. I guess courts will decide.
7 / 11
Another clarification read, people shouldn't underestimate the power of law, but they also shouldn't underestimate markets.
8 / 11
Users who did a little brainstorming stated, there are people who literally believe this is possible.
9 / 11
Someone with common sense stated, property rules apply with bitcoin. If I steal your key after breaking into your house that doesn’t mean that those bitcoin are mine.
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Those who had an alternate opinion stated, as a practical matter you are correct, but ignoring the very real possibility of a court obtaining jurisdiction over miners and…
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Bitcoin is not first digital money. Either comply or cease and desist. Law is law. And Bitcoin is not above the law.
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