Saw a post on what happens to 'lost bitcoins' and it got me thinking how wildly different Bitcoin is to other assets in terms of property rights.
Under the current system, most governments around the world considers personal property as state property. This is evident in inheritance legislations in many countries where the line of inheritance ultimately ends with the state.
If you die, and you have no direct offsprings, spouse, parents, relatives, then the property becomes the state's
We can couple this with inheritance tax legislations in many countries that basically prevents transfer of wealth and properties from generations to generations. Inheritance tax comes in many form, from overt legislation to a more covert extortion through the promotion of NCD causing diets that leads to rocketing diabetes and cancer, robbing a person's entire life savings before he/she dies.
Bitcoin is the only property that the state cannot take from you. You can pass it on without a third party, and ultimately, you can take it with you to the grave, giving it back to all of humanity by decreasing the available supply.
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npub1pr…42xcv
2024-03-20 02:03:09
Author Public Key
npub1prya33fnqerq0fljwjtp77ehtu7jlsjt5ydhwveuwmqdsdm6k8esk42xcvPublished at
2024-03-20 02:03:09Event JSON
{
"id": "615b2bada21e7e5c2f51beafdacd102e07b8a3bc91f2dab3fc8543d23d3e2201",
"pubkey": "08c9d8c533064607a7f274961f7b375f3d2fc24ba11b77333c76c0d8377ab1f3",
"created_at": 1710900189,
"kind": 1,
"tags": [],
"content": "Saw a post on what happens to 'lost bitcoins' and it got me thinking how wildly different Bitcoin is to other assets in terms of property rights.\n\nUnder the current system, most governments around the world considers personal property as state property. This is evident in inheritance legislations in many countries where the line of inheritance ultimately ends with the state.\n\nIf you die, and you have no direct offsprings, spouse, parents, relatives, then the property becomes the state's \n\nWe can couple this with inheritance tax legislations in many countries that basically prevents transfer of wealth and properties from generations to generations. Inheritance tax comes in many form, from overt legislation to a more covert extortion through the promotion of NCD causing diets that leads to rocketing diabetes and cancer, robbing a person's entire life savings before he/she dies.\n\nBitcoin is the only property that the state cannot take from you. You can pass it on without a third party, and ultimately, you can take it with you to the grave, giving it back to all of humanity by decreasing the available supply.",
"sig": "b396e6af3e53978c26f15058b99fd3fd8a562164299d1351c5b494897b9b0c4ebc37d6c18bc86c441505d2379b491717bbe745ed25a1db25f630dc75c8e0e7ea"
}