Bitcoin Songsheet Private Property – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides


Good fences make good neighbors.

Clear boundaries separate responsibility and make clear who is due what. With good boundaries, we can act more decisively because we know what we own. Without it, nobody feels responsible so it gets plundered like an appetizer plate which inevitably comes down to that last piece which keeps getting split in half. We call what we own property and the rights of ownership, property rights.

The ability to really own something is foundational to civilization. Those that own something and are assured of property rights are much more likely to take care of it. Think about how much cleaner a typical Uber driver’s car is versus a standard New York City taxi.

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