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  "map_content": "Property presupposes exclusion. \r\nPhysical goods carry it\u2014handing one over ends the giver's use\u2014but digital goods, being copyable, do not.\r\n\r\nWe model the institution that manufactures exclusion: a threshold quorum that attests not only re-binding to a recipient but extinguishment of the sender's prior control. Because extinguishment is unobservable, standard cryptoeconomic and verification tools fail. We compute its enforcement price from four factors\u2014attribution, detection quality, exploitation containment, and residual legal liability\u2014prove an attribution impossibility and an indistinguishability limit requiring a liability menu, and show the welfare-efficient institution is a value-contingent hybrid of stake, reputation, insurance, and law.",
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  "author": "14aqJ2hMtENYJVCJaekcrqi12fiZJzoWGK",
  "display_name": "Bitcoin Dictionary",
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  "timestamp": "2026-07-01T14:20:09.000Z",
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  "ui_name": "Bitcoin Dictionary",
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