Comparing Bitcoin to barbed wire from Timothy May’s “Crypto Anarchist Manifesto” can give insight into the gravity of this seemingly abstract invention.

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Some of Bitcoin’s properties sound abstract. Properties like digital ownership, censorship resistance, decentralization and more. But the deeper you dig into the Bitcoin rabbit hole, the more you realize that Satoshi Nakamoto even implemented some mutually exclusive properties simultaneously: freedom of privacy and property rights. In fact, Bitcoin reconciles an uncensorable pseudonymous system and an extreme form of property rights. I would like to show why this combination was actually almost impossible by using an analogy based on the example of barbed wire in Timothy C. May’s “Crypto Anarchist Manifesto.”



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