The Most Interesting Property in the World
What if I told you the most interesting property in the world was available?
Like all property, this property is appealing in that “they’re not making any more of it” — it’s scarce. And like all great property investments, this property is surrounded by what’s poised to be tremendous economic growth.
However, there’s a few things that make this property unique: some are favorable and others less so. Like I said, this is the most interesting property in the world, so let’s take a look.
First, this property is huge — So, it’s being sold in millions of pieces. Fortunately, there’s no need to compare the pieces: Every piece of this property is the same as every other piece — they’re fungible.
The very favorable byproduct of having millions of units of fungible property is that there’s a liquid market for buying and selling these units of property. In fact, an entire ecosystem has grown to support the exchange of these units.
The benefits of this fungibility and liquidity are immense: While it typically costs 8–20% in transaction expenses and months of time to finalize real property transactions, units of this particular property can be transacted for a fraction of 1% — and can be completed in minutes.
What’s more is that this property is portable — so rather than being constrained to one location, you can bring this property with you anywhere. It’s discrete as well, nobody would even necessarily know if you were carrying it.
Oh and this property is programmable too — so you can directly program who can access or use the property and for how long. That’s incredible. There’s not another piece of property in the world that can be natively programmed like this.
From a human rights perspective, this property also excels: It’s part of a nondiscriminatory network that allows anyone to hold and use the property regardless of their race, religion or gender. It offers strong assurances for objective property rights, impersonal rules and consistent enforcement of these clearly defined rules.
The power of this open-access network with strong assurances is evident: the network has processed more than $5 trillion of these units over the past year alone.
Importantly, this property is also un-seizable: Once you own and take control of this property, nobody can take it from you unless you allow them to. That’s powerful.
Lastly, this property is surrounded by economic growth in the form of rapidly expanding and improving infrastructure. Other people are building the bridges, tunnels, and railways that, hopefully, make your property more useful.
To learn more about this property, please see the specs here: https://bitcoin.org/bitcoin.pdf
Disclosure: I own some of this property (Bitcoin) personally and also have exposure to it via Blockchain Capital’s venture funds.
Note: I’m intentionally conflating personal property and real property because i) Bitcoin blurs the boundary ii) the distinction is arbitrary to begin with.