No Room For Rent Seekers

“When Satoshi made Bitcoin what he was doing was cutting out the rent seekers.  The rent seeker** being the Federal Reserve.  Satoshi said people can transact money without central databases controlled by central authorities.  What he did was replace the referee, which is the courts, with math and code.”

Cedric Dahl

2018

Cedric’s Youtube Channel

** Rent seeking means to derive income without adding anything to economic activity (wealth creation).  This is often accomplished by taking advantage of protective regulations.

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