Bitcoin Audible Chat #46 - Stephan Kinsella on Intellectual Property in the age of Bitcoin
Sep 7, 2020
Stephan Kinsella, a prominent attorney and author known for his libertarian views on intellectual property, dives into the intricate relationship between Bitcoin and property rights. He discusses whether Bitcoin ownership equates to legal ownership or mere control through cryptographic keys. Kinsella critiques traditional intellectual property laws, arguing they function as state-backed monopolies. He also explores the potential for creators to monetize their work in a world of easy copying and highlights how emerging technologies could render current copyright laws obsolete.
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Early Bitcoin Bet Turned Acquisition
- Stephan Kinsella bet $100 in 2012 Bitcoin would crash and lost, then bought bitcoins and gave three to Vijay Boyapati.
- He realized the government likely couldn't or wouldn't fully stop Bitcoin, so he kept engaging with it.
Purpose Of Property Rights
- Property rights exist to resolve conflicts over rivalrous, scarce resources so people will invest and cooperate peacefully.
- Intellectual property misunderstands scarcity by treating nonrival information as if it were exclusive physical resources.
IP Origin: Privilege, Not Natural Right
- Patents and copyrights originated as state-granted monopolies for censorship and protectionism, not natural property rights.
- Governments later relabeled privileges as "intellectual property" to justify monopolies under law.
