Bitcoin, Property Rights, and Why the Old West Says You Should Own Your Socials, feat. Nic Carter

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 11 June 2020

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on the Brief: A record week for peer-to-peer exchanges in the developing world A digital dollar gets discussed in Congress Previewing the Federal Reserve’s FOMC guidance Our main topic: A brainstorm on digital property rights Here’s a radical idea. What if by virtue of the fact that you had put so much time and effort into building a following on social media and filling that following with content you had legal claim to and distinct property rights around your corner of social media platforms? It’s wild in the context of today’s terms of service, but has significant legal precedent in the world of physical land. In this new type of deep-dive 20-minute episode we’re calling a “Breakdown Brainstorm,” Castle Island Ventures investor Nic Carter looks at: The two schools of thought around digital property rights The historical precedent for squatter’s rights What the specific example of the USA’s Westward Expansion can teach us Why this type of approach can be highly economically generative, according to economists like De Soto How John Locke’s theories provide a moral basis for the argument Why today’s platforms are akin to anti-democratic feudal lords How bitcoin provides a model and a mechanism for digital rights enforced on the protocol level rather than by a state or other external actor Find our guest online:Twitter: @nic__carterWebsite: niccarter.info

Transcript

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0:00.0	Welcome back to the breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond.
0:13.0	This episode is sponsored by BitStamp and Cipher Trace. The breakdown is produced and distributed by CoinDesk. And now here's your host,
0:24.8	NLW. Welcome back to the breakdown. It is Wednesday, June 10th, and today we are introducing
0:33.3	another new format experiment, and this one I'm really excited about guys. I'm calling it for
0:39.0	now Breakdown Brainstorms, and here's where it came from. Every once in a while, I'll see
0:44.1	someone share an idea, a specific idea that I think is really fascinating and really important
0:49.8	and worth more exploration. This recently happened with Nick Carter when he tweeted out basically a
0:55.5	thread about digital property rights and why Squatters' rights effectively might apply to your social media,
1:03.3	why you should actually have legal claim or property claim over the social media profiles that
1:09.0	you've built by putting your time, sweat, and effort into it.
1:12.5	I started thinking about this, and I thought it would be really cool to do some episodes as
1:16.7	20-minute deep dives on a single idea rather than kind of a traditional interview format,
1:22.0	which can go all sorts of different places. So that's what we're doing today. We're going to do
1:25.9	a breakdown brainstorm, the first ever,
1:28.4	with Nick Carter, actually, about that idea, about the idea that inspired this whole concept of
1:33.0	brainstorms. But first, let's do the breakdown brief. First up on the brief, it was a record
1:39.3	week for P-to-P exchanges in the developing world. This comes from Matt Alberg from useful tulips, and he wrote
1:46.1	that Paxville and local Bitcoins saw combined year-to-date records, and this was the first week that
1:51.2	Paxville actually exceeded local Bitcoins, at 42.8 million in volume to 41.7 million in volume.
1:57.9	Some highlights from this, U.S. dollar trading saw a new record for the first time
2:02.3	in over a year, which kind of reflects what we've seen in terms of the importance of U.S.
2:06.2	dollar exposure in the current climate. Argentina almost broke its volume records, but really the
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