Bitcoin Poem 051
Seigniorage (Problems/Solutions 13)
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Inspired by Robert Breedlove
Founder of the "What is Money?" Show
Co-Author of Thank God for Bitcoin
Bitcoin Philosopher - Lex Fridman Interview
Seigniorage (Bitcoin Poem 051)
Seigniorage refers to the profits
A government earns by creating and
Issuing new currency for a nation, but
The seigniorage benefits those in power
Who receive the new money first via the
Cantillon effect. Specifically, the Federal
Reserve, the US Treasury, & large banks
Therefore
In order to foster more equality in finance
We can move to a decentralized currency
In the Bitcoin network the profits earned
From creating new bitcoin are given out
To those who work maintaining and
Securing the network, rather than to
Any centralized person or group
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