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But pumpk' by strictly hodl aren't we extracting value from the network ...for basically free ?
Discussion
would a holder of gold be doing the same thing?
or a holder of any other asset that appreciates in value relative to fiat currencies?
a classic example of rent seeking is someone who installs a chain across a river, and when a boat gets hung up in it, charges them to raise the chain.
there's some overlap with extortion.
Gotcha I was thinking more slum Lord
yeah, the term "rent seeking" kinda suggests that it involves charging rent.
slum lords are a thing, and arguably extractive from society d/t milking govt housing contracts. being a landlord and/or charging rent is positive in most cases probably.
the other day I was trying to think of an example of rent seeking, and I just realized the perfect example...Ticketmaster
Nice I know they sell tickets online so basically you want the artist and the fan p2p ?
buy tickets sometime thru ticketmaster...they take a heavy cut, and in addition, they tack on "convenience charges".
they are middlemen between the seller (artist/venue) and buyer, and extract a crazy amount of value from the transaction, without adding value to the experience.