Quote from: evoorhees on September 21, 2011, 04:40:57 PM

Quote from: ParrotyBit on September 21, 2011, 04:19:08 PM

Quote from: MemoryDealers on September 17, 2011, 04:36:24 AM

In a free market, Zhoutong is not the king of Bitcoin, but he IS the king of Bitcoinica.

He can ban, or allow, anyone to use the site for whatever reason he pleases.

Just as the rest of us can decide to use, or not use, Bitcoinica for whatever reason we please.

This is the only moral and fair system of property rights.

Indeed! I can't believe all those people who were crying about mybitcoin.com when Tom Williams, the Grand Nagus of mybitcoin.com, wasn't obligated to give anyone anything. He could have banned you all from his site for whatever reason he pleases. What, your BTC is still there but you can't log in? Not his problem, he got his! No one forced people to use mybitcoin.com anyway, and it turns out his site shut down anyway. The free market works!

This is the only moral and fair system of property rights.

Do you really fail to see the difference between A) setting rules on one's own site and B) stealing peoples' money?

Theft is never permissible and is the opposite of a free market.

When someone sends coins to Mybitcoin, they are now Mybitcoin's coins, and sender receives an IOU for same amount of coins in return. It is easy to say "I have 100 coins" when that person means "I have an IOU for 100 coins". If it was blatant, then it is fraud and not theft. We should all be careful when sending coins, if they dont have a reason to honor the IOUs, or don't protect their coins well enough, we shouldn't send in the first place.