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Yes many people privately own things. They alone control them, or as a private group. The point is that calling Bitcoin private in the sense of property or in t
by mattwilsonn888 5y ago
Yes many people privately own things. They alone control them, or as a private group. The point is that calling Bitcoin private in the sense of property or in the sense of business is simply ignorant. Any participant can get involved in Bitcoin's protocol with less barrier to entry than any stock exchange, and (I can't believe I have to type this) Bitcoin is not controlled by any single person or private group of people.
So please explain how Bitcoin is private or close to it, or cede the point.
- otterley 5y agoThe question is whether or not the public, through its duly-elected representatives according to a constitution, has created the thing and has put the duly-elected executor in majority control over it. If that is the case, I would call that a public thing. Other things, I would call private. Just because a group of people got together and made a thing -- even if that thing is usable by the public -- doesn't make that thing a public thing, if the public has no ability to make a binding decision through its democratic processes to change it.
- mattwilsonn888 5y agoGreat well we can cut definitions all day but in effect the comparison I just challenged you on which you ignored and is the crux of a fourth of the blog post isn't going to be more illuminated by pedantism. It's clear Bitcoin behaves completely unlike a private good in total.