frito2x on Nostr: I respect that. I really would expect no less from you. I just fear that if I hold ...
I respect that. I really would expect no less from you. I just fear that if I hold Bitcoin I am rent seeking. Investopedia defines rent seeking as "any practice in which an entity aims to increase its wealth without making any contribution to the wealth or benefit of society."
Wikipedia defines rent seeking as "the act of growing once existing wealth by manipulating the social or political environment without creating new wealth."
I view it more as the act of receiving a yield on hard assets because those who do not own the hard assets must rent from those that do.
If somebody owns houses, he receives rent from those that can't afford to own a house.
I think owning Bitcoin is similar, but more effective.
It's all just BS (bitcoin semantics) terminology.
Wikipedia defines rent seeking as "the act of growing once existing wealth by manipulating the social or political environment without creating new wealth."
I view it more as the act of receiving a yield on hard assets because those who do not own the hard assets must rent from those that do.
If somebody owns houses, he receives rent from those that can't afford to own a house.
I think owning Bitcoin is similar, but more effective.
It's all just BS (bitcoin semantics) terminology.