Joshua Henslee, Blacklist Manager

Bitcoin theft? There is now a program to freeze coins

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The Bitcoin Association for BSV recently released a program called Blacklist Manager to freeze lost or stolen bitcoins, and Bitcoin developer Joshua Henslee released a video explaining how it works and what it means for you. Bitcoin SV.

Bitcoin Association Released Freeze Program

Henslee begins by explaining how a file works New knot program It will allow the contract to receive digital and notarized court orders and freeze the addresses associated with them. This will allow them to freeze coins at addresses suspected of being linked to criminal activity.

Henslee acknowledges that currency forfeiture is a sensitive topic in the industry. However, he points out that due to the sheer scale of scams in the industry, more people are turning to the idea.

Prepare for attacks

Henslee expects attacks on this move to come soon.

“They will say this is only for those losers here with their crypto,” he says. In fact, criticism of this move was almost immediate by some “crypto” anarchists.

Another line of attack is that this is the end game of Dr. Craig Wright or his method of taking over BSV for Satoshi Nakamoto for his final exit. Henslee points out that this does not make sense even because the dollar amounts are so small.

“You will have the same Twitter clowns who don’t think this is technically possible even though the original (Bitcoin software) supports it,” says Henslee.

However, the truth is that many people lost their coins due to hacking, theft, accidental loss, etc. He believes that when it is proven that a redemption is possible on BSV, someone will come forward to redeem a large amount of BTC, and then the narrative will have to change.

This is really going to shatter the whole “not your keys, not your coins” narrative – Joshua Hensley.

Hensley admits that he is somewhat ambivalent about this idea and has gone back and forth on it several times. He still likes the idea of ​​uncontrolled money due to things like government corruption and expansion. However, he believes that the trade-offs of getting redeemable coins until the technology succeeds is ultimately worth it.

“There are no solutions, only trade-offs,” he ponders.

Key points from this video

  • The Bitcoin Association has released a program that allows nodes to freeze coins.
  • This will allow them to comply with digital legal orders, such as freezing currencies suspected of being linked to criminal activity.
  • There will be resistance to this, especially from the usual suspects and “crypto” anarchists.
  • Ultimately, this will inspire some who have lost large amounts of bitcoin to prove they can do so on that chain as well.
  • Smart people will find out that this is coming and move forward with it. In the end, it will be a good thing in the end.

Watch: BSV Global Blockchain Agreement Presentation, BSV Blockchain: A World of Good

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New to Bitcoin? Check out CoinGeek’s Bitcoin for beginners the ultimate resource guide to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and the blockchain.

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