Bitcoin Ownership Defined

[freedombit]

There have been some headlines circulating that indicate a Japanese district court ruled that Bitcoin cannot be owned. It surprises me that there is not more discussion on this subject here. This has implications that reach beyond Bitcoin and cryptocurrency, but certainly has a direct impact.

1) Can anyone provide a source for this ruling beyond the news website headlines?

2) I'm not an attorney, but it sounds like the argument is that Bitcoin is being considered "open access property" based on the Wiki definition: https://en.wikipedia.org/wiki/Property_rights_%28economics%29.

3) The idea of "ownership" and "access" is important in that the rules of engagement are being established by society; whether that society is the smaller Bitcoin/cryptocurrency circle, or the larger world population, or something in between.


One of the articles for reference:
http://www.engadget.com/2015/08/06/japanese-court-bitcoin-ownership-ruling/

[Kprawn]

Property rights can be viewed as an attribute of an economic good. This attribute has four broad components and is often referred to as a bundle of rights:
 
 1.the right to use the good {We can use Bitcoin}
 2.the right to earn income from the good {Yes, we do receive a income from it}
 3.the right to transfer the good to others {For sure, we can transfer Bitcoin from person to person}
 4.the right to enforcement of property rights {The Blockchain makes it easy to provide proof of ownership throught the private key, so property rights can be enforced}

What do the Japanese dispute in these 4 attributes? 

[Possum577]

Interesting, this is the first I'm hearing of it (thanks for sharing with all.)

If bitcoin can be considered "open access property" can't any fiat currency? We all trade the bills we use for cash, no one claims distinct ownership for one specific bill with one unique serial number on it, do they?

It's unfortunate that the country of origin (presumably) for Bitcoin is taking the largest stance against it.

[tonycamp]

well forget that i have plenty BTC and try to put a name in anon=also my nae into BTC addy and Fiscal reference its good to its japan.

[AtheistAKASaneBrain]

The mental masturbation on ownership by governments will never change the objective fact that says if you own the private keys, those keys are you, therefore, those Bitcoins are yours. Period. Everything else is abstract shit with hidden agendas and motives, don't get fooled by the local govs. At the end of the day it all comes to that.

[ikydesu]

Property rights can be viewed as an attribute of an economic good. This attribute has four broad components and is often referred to as a bundle of rights:
 
 1.the right to use the good {We can use Bitcoin}
 2.the right to earn income from the good {Yes, we do receive a income from it}
 3.the right to transfer the good to others {For sure, we can transfer Bitcoin from person to person}
 4.the right to enforcement of property rights {The Blockchain makes it easy to provide proof of ownership throught the private key, so property rights can be enforced}

What do the Japanese dispute in these 4 attributes? 

Agree with you, i don't know the reason why the Japanese is not admin Bitcoin can be owned. Maybe because they anger about Mt.Gox

[freedombit]

Property rights can be viewed as an attribute of an economic good. This attribute has four broad components and is often referred to as a bundle of rights:
 
 1.the right to use the good {We can use Bitcoin}
 2.the right to earn income from the good {Yes, we do receive a income from it}
 3.the right to transfer the good to others {For sure, we can transfer Bitcoin from person to person}
 4.the right to enforcement of property rights {The Blockchain makes it easy to provide proof of ownership throught the private key, so property rights can be enforced}

What do the Japanese dispute in these 4 attributes? 

I would like to see the court docs. Anyone in Japan know where this can be found?

Also did a little cross reference to the leaked list...didn't find anyone with that amount of Bitcoin on it. Who filed?