Yes, that is correct. One of the key design principles behind Bitcoin was to create a decentralized, peer-to-peer cryptocurrency that operated outside of traditional financial systems and was not subject to regulation by governments or centralized institutions. This philosophy is reflected in its architecture and the decentralized nature of its network, which operates based on consensus among its users, rather than relying on central authorities or intermediaries.

By design, Bitcoin is resistant to censorship, control, and seizure, making it an attractive alternative to traditional currency and a powerful tool for asserting personal and economic freedom. While some degree of regulation, such as anti-money laundering (AML) and anti-terrorism financing (ATF) laws, is both necessary and desirable, excessive regulation that undermines the fundamental principles of Bitcoin, such as its decentralized nature, is detrimental to its potential as a revolutionary currency.