Featured Podcast

In this featured podcast, I discuss a remarkable but often under appreciated feature of Bitcoin wealth: Its mobility. Historically, accruing wealth required tethering yourself to a specific place. This leaves you open to attack in many ways.

I discuss one example of this type of attack in the form of the Vanderbilt railroad fortune. When Cornelius Vanderbilt died, his estate (much of it in railroad stocks at the time) passed to his son. The NY State Assembly found his massive wealth unfair, and set about a plan to tax his railroad interests that passed through the powerful state. As I explain in the podcast, Bitcoin fixes this attack vector.

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