[ppml] Just say *NO* to PI space -- or how to make it less destructive

[George Kuzmowycz]

Marshall Eubanks <tme at multicasttech.com> 04/21/2006 wrote on 10:57:29
AM:
> Hello;
> 
> On Apr 21, 2006, at 10:17 AM, George Kuzmowycz wrote:
> 
>>
>> Marshall Eubanks <tme at multicasttech.com> wrote on 04/21/2006
9:55:47
>> AM:
>>
>> [snip]
>>
>>> Clearly, I think it would be to everyone's advantage if people (on
a
>>
>>> wide scale) _never_ start viewing PI space as real property.
>>
>> At the risk of straying too far OT, why is this "clear"?
> 
> Well, this is just my opinion, but I think that if IP address blocks 

> become real property, you will see hoarding and speculation.
> 
> I have said before that I regard a spot market in IPv4 address blocks
 
> as almost inevitable.
> In some ways, that might not be too bad (for example, how many people
 
> would  find that they
> could give up a few /20's if they could get, say, $ 20,000 for them, 

> at "only" $5 per address!)
> Markets are an appropriate way to deal with allocation of a finite  
> resource that people use to make money,
> and hoarding and speculation are just part of the necessary friction 

> that comes along with a market.
> 
> But, these are "only" numbers, and IPv6 has a lot of them. So there 

> is no reason for
> a speculative market to develop in IPv6 address blocks, and, if one 

> does, I would
> regard whatever policies lead to it as a major strategic mistake.

If there is a more appropriate place to discuss the underlying
economics, please let me know.

But I'm still not clear whether the objection is to addresses
possibly becoming property, or to the idea of an independent
(i.e. not controlled by RIRs nor possibly by ISPs) market in
addresses. 

There is plenty of precedent for the idea of real property
being subject to restrictions or even prohibitions on re-sale
(covenants on land deeds, etc.), just as there is precedent
for a competitive market in common resources which are
not property (RF spectrum auctions.) I know analogies
are generally bad, but which, if either, is closer to what
you want?