It’s years now that people are trying to define Bitcoin and other cryptoassets from a legal standpoint.
I’ve always found such discussion boring. If you ever tried to research the topic yourself, I’m betting my neighbour’s cat you ended up with a big headache. The one amazing thing about this mess is watching modern legal concepts crumble in the face of a powerful piece of code.
Since the whole thing is pointless, I’ll totally skip it and switch to my proposed solution.
Bitcoin and other cryptoassets are a reincarnations of the Commons.
I’m too lazy to actually demonstrate this in a proper form. But I’ll give you some hint.
- code is public, open and usable by anyone;
- access to the network is unrestricted and permissionless;
- anybody can jump in and opt out as they see fit;
- the network provides value to all its users.
- the network resources are finite.
- nobody has the right to prevent one user to join the network.
The Commons are ancient history in the law field. They came to a bad end with the enclosure of the common land and the commoners’ loss of their rights.
Luckily, Bitcoin is cryptographically enclosure-proof.
Join the crypto-commoners community