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Cake day: July 1st, 2023

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  • a monopoly patent was literally a government invention. an actual monopoly does require the government. what you are talking about is called a “natural monopoly” in the literature. that would be a situation where there’s only one seller for something like say water in a desert town. in that case you can have price gouging and such.

    now, the important bit is the LEGAL ability to prevent competition. if there is a natural monopoly on water, and the seller decided to start charging obscene amounts for water, those extreme profits would normally induce other sellers to enter the market. except when they are legally prohibited, we can expect that a natural monopoly will not last if what we call “monopoly rents” are extracted.

    so you see, a true monopoly requires legal force, eg the state.


  • but almost no two libertarians will agree about those things. if you think there is only one “blessed” or accepted viewpoint on those topics, you’ve been duped.

    for example on the rights of kids. there will be somebody who will argue they fully own themselves and parents are never allowed to hit children or otherwise harm them. then there will be some idiot who argues that because babies are helpless and the parents made it, that the parents “own” the child until some point and can do what they want with it. other libertarians will have even more differing viewpoints.










  • that’s… not how that works. all you can do with 51% is possibly double-spend whatever coins you already have. or undo some transactions.

    so you submit a transaction, then use your extra 1% of hash power to mine a new block that says you didn’t actually spend it. at the same time you need to trick somebody else into believing you actually did send the coins, and take their stuff you “paid for.” then after you have the stuff, you can submit the block that doesn’t have your transaction in it. Voila, free stuff and you didn’t spend your coins.

    it does not enable you to mess with other’s balances. other than possibly reversing some transactions. you would need the private keys to their wallets to take their money. and if you have those, you don’t need 51% of the hash power, you can just take the coins with 0% hash power.