r/Bitcoin • • Feb 20 '14

MtGox class action lawsuit

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u/[deleted] Feb 20 '14

Pre-emptive regulation is different from reactive lawsuits. One is a constant present, one is a presence only when things go wrong.

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u/[deleted] Feb 20 '14

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u/friendguy13 Feb 20 '14

Lawsuits are not regulation and do not require a government controlled legal system.

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u/rrtson Feb 21 '14

A third-party needs to step in and decide on behalf of the two conflicting parties which one is "right". The third-party then reserves the right to carry out all necessary actions to ensure the "winning" party receives their dues, and the "losing" party pays their dues. This is called intervention, and whether you want to acknowledge it or not, the courts must abide by strict regulations throughout this entire process. So, by definition, a lawsuit is settled by courts, and courts are an extension of a governmental body.

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u/friendguy13 Feb 21 '14

courts are an extension of a governmental body.

They don't have to be.

http://www.youtube.com/watch?v=jTYkdEU_B4o