The Humble Administrator’s Garden in Suzhou, now a UNESCO World Heritage Site, was built over 16 years starting in 1513 by Wang Xianchen.
After his death, his son inherited the garden — and quickly lost it to gambling.
A Chinese proverb captures this: 富不过三代 — “Wealth doesn’t last beyond three generations.”
How do Bitcoiners plan to break this cycle and preserve generational wealth?
Timelocks
There’s always money in the banana stand!
The tendency of third generations to spoil their inherited wealth or empire has een independently discovered in many cultures. It seems to be human nature. In the case of wealth it's a nice way to achieve redistribution without taxations. With empires it can be quite painful for the subjects, depending on how the next guy goes about his conquest.
In terms of how to deal with it: tell your kids to use and/or donate all the money and not leave an inheritance?
People who get something for nothing (without proof of work) take it for granted.
Kids born wealthy have different values, which makes sense since their parents earned money, as a stop over, on the way to get a better life. So the kids starts at the next destination.
We can solve this with culture. Don't get trapped in same toxic neighborhoods as the typical champagne socialists. (or jet set libetarians for that matter).
