Author: Matt Whitlock 2015-01-20 17:44:25
Published on: 2015-01-20T17:44:25+00:00
In a discussion on Bitcoin ownership, Peter Todd and Matt Whitlock debated the implications of possessing private keys. According to Whitlock, whoever holds the private keys can be considered the owner of the bitcoins controlled by those keys. However, Todd disagreed, pointing out that legal rights are not automatically granted based on technical ability. Todd argued that custodial relationships exist to protect against such issues. He used the example of signing an agreement with someone to manage BTC to demonstrate how agreements can take away any legal right to BTC, even if the person has technical control over them. In response, Whitlock pointed out that he had never signed any such agreement with Andreas Schildbach, who holds his bitcoins. He said that he would like Schildbach to offer such an agreement but doubted he could legally do so without creating a custodial relationship and regulatory headaches.
Updated on: 2023-06-09T15:41:30.622231+00:00