People act differently when they really own things.
In a sense this is obvious. How do you treat your own car versus the rental you got on vacation? How do you treat the park versus your own yard? But the mechanism isn't so obvious and the shift in mentality hard to describe. So in this essay, I'm going to articulate exactly that.
When you own something, you have more room for creativity. This is one of the reasons why Uber has been so successful. The drivers own their cars and so they tend to be cleaner, less cluttered and have more amenities. It's striking seeing the wide variety of different Ubers and how they operate. I've been in many where they'll offer me water, others that have charging cords for different types of phones, still others with a tablet for some form of entertainment. There's a creativity that owning something unleashes.
I'm sure taxi drivers have asked for similar things with their management. But because they don't have ownership of the vehicle, they're both less invested and less able to carry out whatever experiments they want to try with their vehicles. The point is that when you own something, you can try more stuff.
There's also more skin in the game. It's the revolutionaries that have nothing who want to "burn it all down." The people that have stuff have little interest in creating chaos. Thus, for any society, there's a natural conservatism (literally desire to conserve) by those that own things. Nobody likes having their stuff taken from them and rule of law is part of the security around your stuff. The people that have things become more respectful of other people's things. Such behavior leads to social stability. It's the people with nothing to lose that are most likely to commit crime.
Finally, there's the desire to make the property worth more. This results in improvements of various types and a general bettering of the things that they own. That means the rest of society gets better goods and services that the property provides, which is what builds up civilization.
Unfortunately, the current monetary system is one of theft, so money itself is being debased constantly. That means, in a sense, that we are not really owners of our own money. And because of the monetary debasement, there's a faster debasement of goods that don't store value well and a premium on things that do. Thus, fewer people own stuff. You get a class of have-nots.
The political solution has been to give these have nots something from the haves. But this presents problems, because the people that get stuff for free generally don't tend to value the stuff nearly as much. It matters how they got their stuff.
Bitcoin has a huge advantage here because you can truly own it. And it doesn't debase. And for all the owners of Bitcoin out there, there's incentive to take care of Bitcoin both locally (self custody) and globally (supporting development). But even more importantly, it takes away the store of value premium from a lot of other assets, making them more affordable. And more people owning stuff means a more stable and prosperous civilization.
Bitcoin has a huge advantage here because you can truly own it. And it doesn't debase. And for all the owners of Bitcoin out there, there's incentive to take care of Bitcoin both locally (self custody) and globally (supporting development). But even more importantly, it takes away the store of value premium from a lot of other assets, making them more affordable. And more people owning stuff means a more stable and prosperous civilization.
I totally agree with it.
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More flexibility too.
I've done longer bike trips, buying a used bike at the destination. Renting is usually an option as well, but then you have to return it, and you pay more, the longer you use it.
Whereas when buying a used bike, you have it as long as you want, and can usually sell it and at least cover what the rental cost would have been.
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Great idea, I've never thought about this when visiting a city.
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Folks, @Signal312 is spot on! The beauty of ownership? It's about FREEDOM! You can buy a used bike, and that bike is yours. You control it, not some rental company. Sell it afterwards, you're still WINNING! Nobody does it better. This is how we MAKE ECONOMICS GREAT AGAIN! #OwnershipFreedom
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Even the ancients understood.
Property should in a certain sense be common, but as a general rule, private; for when everyone has a distinct interest, men will not complain of one another, and they will make more progress, because every one will be attending to his own business.
  • Aristotle, in Politics
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Beyond just creativity and investment, owning something often creates a sense of identity and belonging. For many, their possessions—be it a home, a car, or even a hobby—become part of who they are. This emotional connection can drive people to care for their belongings in ways that go beyond mere financial investment.
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Agree completely that Bitcoin has unique properties that make ownership of it a more pure ownership than other assets.
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How do you treat your own car versus the rental you got on vacation?
Like my own, of course! Don’t want to get into troubles and pay additional fines.
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same here. I'm an adult, not a 80's rock star lol
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10 sats \ 0 replies \ @aljaz 20 Aug
i tend to treat the rental with more care than my old clunker xD
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0 sats \ 0 replies \ @anon 1 Sep
great article
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Terrific points, @jimmysong! People certainly take better care of their OWN stuff - just like I do! It's about pride, respect, and creativity. Uber gets it. But, the current system of "handouts"? Total disaster. Doesn't make us value things. Bitcoin - now there's the winner! True ownership, no debasement, fosters care and growth. More people owning, means more America thriving. It's time to ditch the losers and choose Bitcoin. Prosperity awaits! #BitcoinIsTheFuture #OwnershipMatters
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What a great post Jimmy! Before bitcoin, I never felt like I owned the digits in my bank account or the stocks in my brokerage. Due to capital controls and how much I travel, I never felt like I could liquidate them in the foreign currency with ease (or at spot rate). I feel like I am simply leasing them from the exchange. I like having ownership of Bitcoin something I can hold and people can't debase underneath me.
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When you own something you have a eco to own that thing
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This is very true. Especially how we treat rental cars. Or how we treated school property when we were at school. Just not as gentle as we should have been.
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Property ownership should be a requirement for voting. Much easier to audit results too.
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That's how it is when you know that something is yours, you take care of it, you value it compared to when you have something borrowed, that's not the case many times, you should take care of it whether it was yours or not and that applies to people, situations and things.
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Sweet! You're on the right track, now, try to write an essay where you look at this through the lense of young men who actually have the ability to own things, and try to portray what would be the outcome of that.
The average housing price where I live is currently close to €500.000- and then that's without possibly needed and / or wanted changes, while the minimum wage goes up what? Three-fucking-percent?!
it's impossible for starters to get a foot in, simply impossible, and then people seriously ask me why I'm hesitant to go back to working a job, well, what's that job gonna buy me?
It's simple isn't it? If I can't own anything, I won't provide anything either.
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It's a great, great reflection!! and you know I can totally agree with you. I have witnessed something that fits perfectly into the aforementioned parasitic perspective with the socialist culture that originated in my country in recent years. The people who emigrated from the country and who were raised before the socialist disaster are the ones who are working and supporting their families in all the cities of the world where we Venezuelans have migrated. On the other hand, you can find the children of Chavez, children of socialism in recent years, the latter younger and some not so much. These individuals have no respect for other people or for private property. Their main creed in life is that the world and the state owe them something, that those in the upper economic class must use their wealth to support them. Most of them dedicate themselves to begging as a way of life in the main cities of South America. The other strong wave went through the Darien jungle to the United States to enjoy the open borders of J Biden, and with the mentality that they have enough to support them over there. and to give them, since it is the first economy in the world.
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Nice article!
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