The correct one is „private ownership of the means of production used for profit.“ Capitalism is about having capital, that is, some thing that makes other people give you money, but you don't lose it when they give you money, like a factory, brand loyalty or IP rights. Competitive markets stifle this, so capitalists try to eliminate the competition and they've been succeeding. It's not like trading. In trading you give me money for my coal, but I don't have the coal any more so I have to dig more coal from the ground to get more money.