For what reasons d you agree or disagree with Bilbo's claim that he is an honest burglar and that the Arkenstone is his to give away?
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The Arkenstone didn't belong to Smaug, so Bilbo was technically returning something to its owner. None-the-less, Bilbo does use the Arkenstone as a bargaining chip to settle a disagreement that might pssibly lead to war. His intentions were good and right, but I'm not sure I would say it was his to give away. Thus, he did make himself a traitor, but even worse, he sacrificed the trust of a friend (Thorin).