Oddbean new post about login | logout No they're not. They're a shitcoin but people voluntarily pay for them.
No, the trademark holder steals the physical media which the trademark violator owns.
I would say that the theft is from the enforcement of trademark rather than from the trademarks themselves. It's not immoral to register a trademark to prevent others from doing the same. The theft occurs when the holder of the trademark insists that they be compensated for the unauthorised use of it.
I guess the first is a clear intent and preparation to use violence.