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Property rights are establishable in a lot of things that are abstract with numerous physical representations. You can own commercial licences, shares, bonds, debts, legal rights to this and that and so on and so forth.

Property law does not require physical property in order to be applicable.

(IANAL, TINLA)

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good, I'm glad. I hope when articles pop up about piracy, more people agree that it isn't just bits being transferred.

There's still a fundamental difference between stealing bitcoins by inducing a transfer and copying music or video games or etc. The latter is clearly a lesser crime.

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