Seigniorage - Bitcoin Poem 051 - Problems and Solutions Series 13
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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