How do bitcoiners trash "rent seekers" when hodl bitcoin for gains is similar to rent seeking.
Discussion
Rent seekers use government guns to collect, it's not similar
I thought rent seekers means like low income slum lords hahah
Bitcoin is the ruler. Hodl away it doesn't get you more sats. Rent seeking would get you more sats for doing nothing.
if you not bitcoin you not bitcoin how they feel even tho they have no clue and will tell you do your research
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Respectfully, I don't think you understand what rent seeking means.
Things that embody rent seeking extract value from a transaction without adding value.
Saving money isn't rent seeking.
But pumpk' by strictly hodl aren't we extracting value from the network ...for basically free ?
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.