5/4/2023 - Technology and Innovation

Can Bitcoin software be confiscated?

By Milton Rodríguez

Can Bitcoin software be confiscated?

The question of whether it is possible to confiscate Bitcoin software

As an absolute answer, NO, you cannot confiscate Bitcoin software, the reasons, here I tell you.

This idea of writing about it arose from a comment that a person made me and I quote...

" The government will one day confiscate the software and Bitcoin will disappear.”

Well, let's start with the fact that something can't be confiscated if it's not confiscated, rather obvious, but we can't put aside this obvity.

One of the Bitcoin technologies that is the software, enters an opensource or open source environment, this means that anyone who has the software development knowledge, can get the code from a repository and study it.

These projects are oriented so that a community can enrich, improve, correct and use it in your favor, in some cases ask for donations and in others only a recognition.

Projects in this sense exist of all types, CRM, ERP can be of the most common, the detail that can be found under this scheme is that there is no support of specific people, but the community will always contribute to those who need it.

Having understood this part of open source, it is the same application that gives itself to the development of Bitcoin software, so the same government understands and for that reason it is not heard practically anything in that sense.

The same government has already taken it and studied it, so they know exactly what it is and how it poses a threat for their purposes.

In fact, there were developers who provided their knowledge to detect bugs and fix them, if we talk about something more extreme, there is a project that at its time took this development and created a project with the argument to give you more scalability, this was named Bitcoin Cash, it did not happen much with this and is far from approaching Bitcoin, its current value is 130.93 USD and is not so much the value, it is the utility and trust that each project has before the users.

Even you can take that code and create your own cryptocurrency under the same principles as Bitcoin, however this is just a part of the wonder it represents, so it is not so simple that you can have a crypto that succeeds, you should add factors such as trust, security, infrastructure, etc.

I am not sure that this can be classified as a myth because it is not something that is too much compared to other wrong concepts that people have, but without a doubt, if I believe that every time these same people advance in this knowledge, it will be a reasonable doubt that can become a myth.

Do you imagine, if the way they question Bitcoin, question Fiat money?

Then I leave the doubt sembrated.

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milton rodriguez

Milton Rodríguez

Hi, I'm Milton Rodriguez. I have 20 years of experience in the technology and I dedicate to providing valuable information to people through content generation.

I am currently 100% in the crypto industry as a Consultant, knowledge that I have acquired for more than a year and a half that I decided to generate content for this sector.

I am Bitcoiner but not maximalist, I like what happens in crypto and all "The Bitcoin Effect".

Additional I write for portals with end.guru and other means, in addition to boosting my personal brand through my social networks.

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