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Pluralistic: "If buying isn't owning, piracy isn't stealing"
(pluralistic.net)
This is a most excellent place for technology news and articles.
Making a copy without the copyright is against the law, no matter which way you slice it. Egregious large-scale infringement is usually prosecuted, whereas it's otherwise settled civilly. Nevertheless, both constitute copyright infringement.
Indeed I had the terms confused: it's incorrect to say fiat currency has intrinsic value; it has instrumental value.