Thread by @HillebrandMax

This book is so damn good.
I'm now re-reading it for the third time!
@NSKinsella has changed my fundamental economical and moral axiom, and he has started me down a new rabbit hole which culminates in my Bachelor's thesis.

THANK YOU, Stephan!

mises.org/library/agains…

Here my thesis on
non-simulated shared ownership of scarce #Bitcoin with multi signatues in the #lightningnetwork.

If you've read Stephan's book, then you understand the ground breaking innovation of multisig described in my title. :)

github.com/MaxHillebrand/…

Many say that #Bitcoin is scarce because there are only 21 million.
This is wrong.
The quantity of a good has nothing to do with the binary attribute of scarcity.

This is the perfect explanation of scarcity:
"The very possibility of conflict over a resource renders it scarce."

And of course, nobody could write it more eloquently than Ludwig von @Mises!

"[The formulas] productive power is inexhaustible; it is therefore not an economic good; [...] but [it] can become [an] economic good only if [it is] monopolized and [its] use is restricted."

Here a great explanation of why homesteading, that is the first use of scarce resources, emerges property rights, and not the creation of higher production stages, or labor.

Here Stephan shows how the usage of aggression to enforce intellectual property is the unjust initiation of force.

"The argument for property rights is based[...] on the need of individuals to employ means to achieve ends, and to avoid interpersonal conflict over such means. This scarcity is[...] a necessary background condition that must obtain before property rights can emerge."
#Bitcoin 🤯

To conclude, because there is no potential of conflict over who can use a non-scarce idea, there is no need for property rights to allocate resources.
If you initiate aggression against one who is using "your" idea, then YOU are the tyrant stealing from a peaceful peer.

What to do when reading a great book?

First, do a tweet storm while you are reading it, great for sharing your notes and first impressions.

Second, write a long form summary and ellaborate your point of view of the topic.

Here is my chapter on scarcity:
github.com/MaxHillebrand/…