Bitcoin Establishes the First Instance of Digital Ownership
Part One of The Bitcoin Sovereignty Series
So, you’ve swallowed the orange pill and now are falling down the Bitcoin rat hole with reckless abandon. Along the way of your Bitcoin journey, you will come across a variety of intriguing personalities. There are many things people will tell you about Bitcoin: it is digital gold, a store of value, digital scarcity, peer-to-peer currency, and proof of work, to name a few. Before we move any further, make sure to find the three layers of bitcoin security and learn to invest in the bitcoin currency in the most fantastic way possible.
We can own property, and how we safeguard our property rights is fundamental to the sort of society we live in, as well as the freedom to conduct our lives as we see fit. If we don’t control the essential things, we don’t control our future, our options are limited, and we are poor. Even if freedom is a highly abstract concept, it becomes more accurate when you grasp that it is synonymous with ownership. Freedom is the possession of one’s person, one’s own choices, and one’s possessions.
Property rights are the means through which we put freedom into action in our daily lives. Your capacity to travel, express yourself, and create things are all examples of types of ownership of your body and mind that you may exercise. Unprecedented access to self-sovereignty and freedom is made possible by a new sort of property that offers more robust rights protection than any other type of property we have known.
Bitcoin Is a Form of Digital Personal Property Rights
It wasn’t until the invention of Bitcoin that digital ownership became a possibility. What is the history of your searches? Google owns the domain name. What are your relationships with your friends? Facebook is the owner of this website. What are your thoughts? Twitter owns the site, and Twitter censors the content. The company PayPal, which was created to provide you with a free market in which you could buy, sell, and own goods, was found to have reserved the ability to ban you from their platform, seize all of your cash, and censor any transactions you made on their site.
No one cares for public restrooms, and they are typically nasty and unsanitary. On a micro level, a lack of property rights results in the use of a public toilet. You get the Berlin Wall because there are no property rights at the social level in this country.
Berlin was divided into two, almost as if it were a natural experiment in what occurs when you offer one set of people with solid ownership while leaving another group without such license.
An Introduction to The Mystery of Missing Productivity Growth
It aids us in our efforts to unravel a mystery. Many predicted that the internet would bring tremendous affluence and considerably improve economic development by linking the world. Instead, we have experienced economic stagnation. Wages have stagnated, economic growth has stalled, and the country has become entirely dependent on money creation only to keep the country’s inflation rate over 0%.
For starters, we combined a 21st-century technology, the internet, with economic expertise that dates back to the Bronze Age, which is a significant part of the solution. The pharaohs have prospered while we have remained stagnant.
In its original connotation, Demos refers to the standard political unit of the people, as in the Greek word for demos. Bitcoin is a technological innovation that offers a means of defending the rights of individual internet users. Bitcoin is a global jurisdiction of a unique kind: it grants borderless, permissionless property rights to all of its censorship-resistant residents while also allowing them to transact across international borders. Permissionless since it does not rely on a pharaoh for support
Human societies thrive when individuals are entrusted with such tangible property rights and are sure that the goods and services they make and trade willingly with others will stay on their own. Bitcoin changed all of that.
Digital rights can be enforced by anybody, anywhere in the world, across borders, and without the use of violence. Individuals now can take control of their own life thanks to Bitcoin and other forms of digital currency. Bitcoin is an example of this new power. A unique and powerful Demos has emerged as a result of Bitcoin. It is a wealthy group of Bitcoiners who have banded together to rule a worldwide jurisdiction. Because of this, we have the chance and the obligation to build a new civilization based on the free collaboration of sovereign people across the world.