What is ownership?
And God said, Let us make man in our image, after our likeness: and let them have dominion over the fish of the sea, and over the fowl of the air, and over the cattle, and over all the earth, and over every creeping thing that creepeth upon the earth. Gen 1:26
We are suppose to be in control of every other life form. The hard part is, how do we divi up who has control of what? We get into wars when wealth ledgers don’t work. Accounting ledgers help us decide who has control of what resources and for how long they have control. That is what the Bitcoin time block chain is trying to solve.
In Canada, 80% of our wealth is tied up in Real Estate. The Land Titles Office (over all the earth) in each province of Canada decides who is the owner. The oceans (fish of the sea) is sort of like the wild west - whomever exploits it first gets the benefit. The printing of money has caused the land title offices to become more corrupt. Can we lose 80% of our wealth without resorting to violence? Most Canadians would say No! Instead of focusing in on fixing the land ledger in Canada let me focus in on how bitcoin impacts this.
When we own something, what we are really saying is, Canada has given me the right to call this property my own. In order to own some land in Canada you have to be banked and 18 years old. Once you own land you can start to farm it (increase your portion of the ledger). Our English law heritage has given us an advantage over the Spanish conquerors because our judges are less corrupt. In bitcoin we don’t have to rely on the king to tell others what portion of the ledger we control. The way we enforce ledger agreement is with energy. ASIC mining went down 10% during this difficulty adjustment period. The cost of energy must be going up enough so that it now become unprofitable to send the electricity through a bitcoin miner.
Do we want a computer ledger or judges to help us get along? In other words, do you want to own bitcoin or Real Estate? At least that is the question I am dealing with. With only 500 days until the next halving and bitcoin up 10% this week, it might be better to move capital into bitcoin and out of Real Estate.
Most of us live by the golden rule. So whatever you wish that others would do to you, do also to them, for this is the Law and the Prophets. Matthew 7:12 This has helped us divide up the land in Canada. I would venture to say the law (judges) are getting more corrupt and the prophets can’t seem to be getting their message heard. I watched the Emergency Act inquiry. How much of the golden rule did you see? We need to start listening to the bible more or to the bitcoin miners in order to get a long with each other.
My wife is heavily involved in a homeless project (Helping the Homeless Restart Society) in our community if you are looking for a place to donate at Christmas time this is a worthwhile project. Remember that all onion links have to use a tor enabled browser. Orbot works great on cell phones.
Thanks for letting me teach you every Monday evening for the last 6 months. Hope you continue enjoying what bitcoin can buy; and yes, what Bitcoin is trying to solve — a very hard problem.
Merry Christmas