Property arises naturally, through labour (transformation of matter) and through the peaceful exchange of individuals. It is a foundational concept that enables human action by allowing individuals to satisfy needs and navigate uncertainty. This results in resources being used most efficiently as individuals who own them have a strong interest in doing so. In contrast, the need for a legal definition of property by a central authority such as the state may result in resources being controlled by individuals who do not have a strong interest in using them effectively. This can lead to inefficiencies and abuse, as we can observe worldwide.
https://bitcoinmagazine.com/culture/bitcoin-is-a-possession-not-property
The first definition of property in the American Heritage Dictionary is:
The author has decided to make up his own definition of words.
The premise of this article is moronic. Bitcoin Magazine is quickly becoming worthless.
The Bitcoin Bugle articles are much more real and entertaining than BM...
Well thanks Darth
I was happy to see that Merriam-Webster changed their definition of taxation to, "Violent extortion by government."
Definitions definitely matter. Also don't hit BM too hard for having an opinion piece, but to fair, the Bugle has better opinion pieces.
No argument here.