The Transformation of Value with Cody Ellingham

Where did this show come from? How did it start? What does The Transformation of Value mean for me?--The Transformation of Value by Cody Ellingham - https://thetransformationofvalue.com/🎧 Music by Simon James French - https://kyotoinsound.com/

My writing and thoughts - https://codyellingham.substack.com/See more episodes - https://thetransformationofvalue.com/

Neoliberalism is the political-economic system that has dominated the world for 40 years, but what does it really mean and how does it relate to Bitcoin?Free markets, deregulation, and a disdain for the state are all hallmarks of Bitcoin thinking, but these echo the same political ideas that shook the world since the 1980s.Roger is the author of Would Mao Hold Bitcoin?: The Past, Present and Future of Bitcoin in Techno-Nationalist China. Roger is a frequent Bitcoin commentator and speaker, writing for publications such as Forbes.We talk about the complexity and contradictions of neoliberalism, as well as the place Bitcoin plays in it.SUPPORT ME - https://www.thetransformationofvalue.com/supportWould Mao Hold Bitcoin?: The Past, Present and Future of Bitcoin in Techno-Nationalist China - https://www.amazon.com/Would-Mao-Hold-Bitcoin-Techno-Nationalist/dp/B0D7672L8XUnderstanding Neoliberalism as a System of Power, Damon Silvers - https://www.youtube.com/watch?v=hLtkJ-AgLuYBeyond the New Right - Markets, Government and the Common Environment, John Gray - https://www.routledge.com/Beyond-the-New-Right-Markets-Government-and-the-Common-Environment/Gray/p/book/9780415107068The Sovereign Individual: Mastering the Transition to the Information Age, James Dale Davidson,  William Rees-Mogg - https://www.amazon.com/Sovereign-Individual-Mastering-Transition-Information/dp/0684832720A Brief History of Neoliberalism, David Harvey - https://www.amazon.com/Brief-History-Neoliberalism-David-Harvey/dp/0199283273

RECORDED 26th February 2026.In the 1970s Mehdi Bassiri worked at the Ministry of Foreign Affairs of the Imperial Government of Iran, including as an attache in London before coming to Tokyo, where he rose to the position of first secretary at the Iranian Embassy. In 1979, the Iranian revolution took place and Mehdi found himself navigating between the old and the new regimes.Support my work - https://www.thetransformationofvalue.com/support

What is the underpinning of the modern world? Where do we get our morals from? Have we forgotten our past?James Kierstead co-hosts Free Kiwis!, a podcast dedicated to free speech in New Zealand, and previously was a Research Fellow with the New Zealand Initiative, focussing on higher education policy, including academic freedom.James studied classics at Oxford and Ancient History at the University of London, and holds PhD in Classics from Stanford.Free Kiwis! https://www.youtube.com/playlist?list=PLPbHlVTOvfAby8JY47SLdWkgA0kvxneQ6SUPPORT ME - https://www.thetransformationofvalue.com/support

We live in the most culturally productive moment in human history and yet something feels strangely empty. David Marx is an American author living in Japan. He writes about fashion and culture. His work has appeared in The Atlantic, The New Yorker, and The New Republic. David’s books include Ametora: How Japan Saved American Style, as well as Status and Culture: How Our Desire for Social Rank Creates Taste, Identity, Art, Fashion, and Constant Change. Most recently, David has written Blank Space: A Cultural History of the Twenty-First Century.David's website - https://www.neomarxisme.com/SUPPORT ME - https://www.thetransformationofvalue.com/support

How does science fiction explore ideas of money, economics, and government? What is the role of speculative fiction in shaping how we see the world around us as well as helping imagine new possibilities?Eli K. P. William is a Canadian sci-fi novelist, game writer, and translator based in Japan. In 2015 he published his first sci-fi novel, Cash Crash Jubilee, the first book in his “Jubilee Cycle” trilogy. Most recently, Eli translated The Traveling Tree: Lessons from a Nomadic Life, a book by photographer Hoshino Michio.Eli's website - https://elikpwilliam.com/Eli's substack - https://elikpwilliam.substack.com/SUPPORT ME - https://www.thetransformationofvalue.com/support

What is Ecash and how does it relate to Bitcoin? Why is a layered approach to digital money important? Why is it important to get the UX of payments right?In 2024 Erik Cativo left his design job at Ericsson in Sweden to start building on Bitcoin full-time. This year he received a grant from the Human Rights Foundation to work on improving the user experience of Ecash, including both the Cashu and Fedimint protocols. Erik is also the Lead Designer at Hoseki, building proof of ownership infrastructure for Bitcoin.Erik's website - https://www.erik.day/SUPPORT ME - https://www.thetransformationofvalue.com/support

Athena Tong previously served as Director of Public Relations for the now disbanded pro-democracy Demosistō party in Hong Kong.Now based in Japan as a visiting Researcher at the University of Tokyo, Athena focuses on infrastructure resilience, political warfare, and economic security, with an emphasis on communist China’s influence in East Asia and the Indo-Pacific.Her writing has been published by the Jamestown Foundation, Nikkei Asia, and the China Strategic Risks Institute.Athena on LinkedIn - https://www.linkedin.com/in/athena-kerin-tong/SUPPORT ME - https://www.thetransformationofvalue.com/support

Greg Girard is a Canadian photographer who has spent much of his career capturing the urban landscapes and people of Asia. He has authored several photographic books, including City of Darkness: Life in Kowloon Walled City, Phantom Shanghai, and most recently his upcoming book Snack Sakura, which explores Japan’s iconic night-time snack bars.Greg Girard on Instagram - https://www.instagram.com/gregforadayGreg Girard website - https://www.greggirard.com/SUPPORT ME - https://www.thetransformationofvalue.com/support

What are charter cities? Is law really just like computer code that can be forked and modified? How do you bootstrap an economy?Patri Friedman founded The Seasteading Institute, a non-profit exploring the creation of sovereign ocean colonies. He is on the board of the Startup Societies Foundation, advising a variety of new governance projects. Most recently he founded Pronomos, the first charter city investment fund.Pronomos Capital - https://www.pronomos.vc/SUPPORT ME - https://www.thetransformationofvalue.com/support

Kevin Whitmore is Chair of the Bitcoin Policy Institute New Zealand, and CEO of Cashbucket. On November 12th, 2025, the institute held its official launch event in Wellington, New Zealand’s capital, and released its first tax policy paper. The event had a great turnout, with leaders from the Bitcoin community, industry, and across government, including Minister for Courts and Associate Minister of Justice Nicole McKee and MPs Joseph Mooney, Greg Fleming, and Cameron Luxton.Bitcoin Policy Institute NZ - https://nzbitcoin.org/Cashbucket - https://getcashbucket.com/

Taiwan sits at the heart of global geopolitics, caught between history, identity, and rising tensions with China. In this episode, Chris Horton takes us inside the island’s struggle for survival and what it means for the world today.Chris is a journalist based in Taiwan since 2015, covering the country’s foreign relations, domestic politics, economy, and society. Chris’ writing has appeared in The New York Times, Nikkei Asia, Bloomberg News, the Financial Times and other publications. Chris has released his first book: Ghost Nation: The story of Taiwan and its struggle for survival.Chris Horton's website - https://www.chrishortonwriter.com/SUPPORT ME - https://www.thetransformationofvalue.com/support

Peter Fzero is a tattoo artist, designer, and decade-long Bitcoiner. He is part of the 2140 Art Collective which includes over 50 artists exploring themes of Bitcoin / privacy / freedom / and consciousness through art.Peter's website - https://fzero.pro/2140 Art Collective - https://2140.wtf/Ivy Lumi - https://ivylumi.com/SUPPORT ME - https://www.thetransformationofvalue.com/support

It has become increasingly difficult, and even dangerous to report on China. What does this mean for journalists covering sensitive topics like military defence, human rights, and politics?Peter Langan is a journalist with extensive experience including almost 20 years with Bloomberg News in various roles such as: Asia Editor-at-Large and Tokyo Bureau Chief. He later worked as senior editor for the China Desk at South China Morning Post in Hong Kong, during the time of the 2019 democracy protests, the emergence of Covid 19, and the imposition of the National Security Law upon Hong Kong.Peter Langan on LinkedIn - https://www.linkedin.com/in/peterlangan/Yanking the Tiger’s Tail - Reporting in China via the Foreign Correspondents' Club of Japan - https://www.youtube.com/watch?v=v2wBd-MHZnwSUPPORT ME - https://www.thetransformationofvalue.com/support

For over 20 years Stiven Kerestegian has been exploring questions of design, innovation, and disruption, working with some of the world’s biggest brands including Microsoft, LEGO, and recently as Head of Global Innovation at IKEA.But since discovering Bitcoin in 2017 everything has changed, Stiven has turned his focus towards applying design thinking to this new form of money, and how we might use it to build a more open and resilient financial system for the world.CAOS Global - https://caos.global/Stiven on X - https://xcancel.com/stiven_hey_SUPPORT ME - https://www.thetransformationofvalue.com/support

Mishima Yukio was an iconic Japanese author who wrote on the deepest questions of beauty, life, and death. But who was he as a man? Paul McCarthy holds a Ph.D. in East Asian Languages and Civilizations from Harvard, and has taught Japanese, Anglo-American, and Comparative Literature at universities in the US and Japan as well as translating many works of Japanese literature. Paul met Mishima Yukio on a number of occasions. Paul most recently translated the title story in a new anthology of short fiction by Mishima: Voices of the Fallen Heroes & Other Stories, published this year.Voices of the Fallen Heroes: And Other Stories by Mishima Yukio - https://www.amazon.com/Voices-Fallen-Heroes-Stories-International/dp/059380435XSUPPORT ME - https://www.thetransformationofvalue.com/support

How does population density effect the economic development of an entire continent? What about agricultural and manufacturing industrial policy? What lessons can we learn from the economic growth of Asia for understanding Africa? Joe Studwell is a journalist and bestselling author known for his work on East Asian economic development. His 2014 book, How Asia Works, explores the different economic and political trajectories of Asian countries after WW2, and was named by Bill Gates as one of his Top 5 Books of the Year.Joe is now working on a new book asking similar questions of economic development, this time exploring: How Africa Works, set for release early next year.How Africa Works: Success and Failure on the World's Last Developmental Frontier by Joe Studwell - https://www.amazon.com/How-Africa-Works-author/dp/0802158439SUPPORT ME - https://www.thetransformationofvalue.com/support

What does it mean to have the ability to simply exit and walk away from a nation state or a company? What does it mean when you can’t? In the situations where it is harder or impossible to leave, what is the role of voice, of expressing your opinion, and trying to affect change in these relationships from the inside, and what happens when they don’t listen?German economist Albert Hirschman wrote about these questions in his 1970 book Exit, Voice, and Loyalty: Responses to decline in firms, organisations, and states.SUPPORT ME - https://www.thetransformationofvalue.com/support

Why does Bitcoin struggle to find its place in the real economy of supply chains, factories, and things? What role does credit play in building the economy, and could a new layer on top of Bitcoin be the missing piece?Hubertus Hofkirchner is an economist and entrepreneur from Austria. Hubertus is a key figure in developing the Bitcredit Protocol, an open-source initiative focussed on building a flexible credit money layer on top of Bitcoin for enabling businesses to finance working capital needs, using bills of exchange and ecash.Bitcredit on X - https://xcancel.com/bitcr_orgBitcredit Website - https://www.bit.cr/SUPPORT ME - https://www.thetransformationofvalue.com/support