CandleFocus Is Bitcoin protected by the First Amendment as Michael Saylor says?
2024-09-26
Author: Content Editor
Michael Saylor, influenced by NYDIG's Ross Stevens, argues that bitcoin is protected by the First Amendment of the US Constitution as it is a form of speech. However, the argument has not been presented in a court proceeding and no one is challenging the constitutionality of operating the Bitcoin network. The paper also includes unrelated claims about bitcoin's principles and its protest against government control. The argument falls into the Definist fallacy, as not all speech is constitutionally protected. Contentious issues involving bitcoin, such as operating Lightning Nodes and transmission of bitcoin to illegal recipients, are still unresolved matters of law. People who claimed their altcoins are protected speech have been pursued by regulatory agencies. The article questions the intentions of the Founding Fathers in protecting altcoin offerings as free speech.
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