Most people don't know the legal term for what this article is describing. In Anglo-American property law, almost nobody holds "allodial title" anymore. What you actually get when you buy a house is "fee simple" ownership, which traces back to feudal England where the king technically owned all land and lords held it in exchange for service. Property taxes are the modern version of that feudal obligation. The last true allodial holdings in the US were eliminated when Nevada repealed their allodial title statute in 2005, partly because it was letting wealthy landowners dodge school funding.
Bitcoin might be the first genuinely allodial property most people will ever hold. No jurisdiction can attach a recurring obligation to your UTXOs just because you possess them. That is a bigger deal than most Bitcoiners realize when they talk about "self-custody."
Most people don't know the legal term for what this article is describing. In Anglo-American property law, almost nobody holds "allodial title" anymore. What you actually get when you buy a house is "fee simple" ownership, which traces back to feudal England where the king technically owned all land and lords held it in exchange for service. Property taxes are the modern version of that feudal obligation. The last true allodial holdings in the US were eliminated when Nevada repealed their allodial title statute in 2005, partly because it was letting wealthy landowners dodge school funding.
Bitcoin might be the first genuinely allodial property most people will ever hold. No jurisdiction can attach a recurring obligation to your UTXOs just because you possess them. That is a bigger deal than most Bitcoiners realize when they talk about "self-custody."