GM

Just at the breakfast table in our hotel, my son and I quietly munching on all the best things

We’re 80 floors up

360 views of Melbourne all around us

Quite incredible seeing the City from up here the past few days

It really gets me thinking

In spite of the clear trend towards big government, over-regulation, too much market intervention, and socialist principles, all of which I am very concerned about in Australia longer-term, and all of which I believe are a handbrake on productivity

The ability of humans to create, meet, trade, build, manage, grow, and flourish, is a miracle

From here you can see trains, planes, boats, buses, cars, motorbikes, and bikes

Roads, a port, an airport, a harbour, bridges, sky scrapers, suburbia, high streets, parks, and sports stadiums

Collaboration, at scale, of self-interested economic actors, building on a set of shared ethics, laws, of which clearly the most important is the bastion of private property

And in lies the key

The right to private property

Which is something that we have to work for, to cherish, to value, educate on, understand, and advocate forever for

People just haven’t dug into what it means

Why it’s important

Indeed, I feel I’ve only just scratched the surface

So cheers to ingenuity, to trade, to entrepreneurship, and the human endeavour

Let’s keep building!

💪🏻

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Discussion

Beautiful view. As Saife says, freedom is about property rights.

Is private property just who stole it last? Who owned that land 100, 200, 500 years ago? (Not specifically Australia, every country)

Great question.

To my knowledge, in the case of Australia, the Aboriginals that lived here for thousands of years undisturbed, remains have been excavated that are 60,000 years old, did not have private property, but rather everything was shared

So it was British colonialists that arrived with guns, circa 250 years ago, and started settling from Sydney harbour, enforcing their imported legal and property system

So yes, the lands were taken by force, and populated

Yes, true on every continent right?

I don’t have a solution, but just going with “property rights” when much of that property was taken by force or by manipulating the current fiat system… propagates the injustice. To take an extreme, should property rights protect the Putin and the oligarchs, or other authoritarian leaders?

Again, don’t have a solution there..

Well the more I study the Austrian school, in relation to property rights, if you take the right to private property as the cornerstone of the most efficient capitalist economy, actually what we witness, is abuse of those rights

Russia is a good example. Violence, or threat of violence, is regularly used to coerce the corruption of property rights

Indeed, with this lens, it’s really only Bitcoin that has perfected the concept of non-violent uphold of private property. The cost of attack, vs the cost of defence, are totally flipped around

Yes sort of. There is no capitalist economies acting without government and oligarchs influence- is it even possible?

While Bitcoin has some opportunity, it largely operates under KYC regime and country tax programs.

Do you see a path for that to change on a country and global scale? Will power give up power?

Power will never give up power, but incentives alter everything

I would argue kyc doesn’t matter all that much if Bitcoin means you’ve just become richer from a purchasing power perspective

A growing block of voters, participants, with increased wealth and therefore power

But the key being that it’s not stored in gold, which is so easily taken by force, but by a seed phrase you can carry in your head

So the incentive in the future is to provide value for my wealth, if you kill me, you kill the wealth

So Bitcoin in self-custody trumps all other models of private property from the past

Fascinated to see how it chages things

Smaller city states? Less centralised government? Fewer military?

Anything is possible really

Sick pedophile. People will learn the truth about you eventually.

Pedophile