As I understand it bitcoin has no seignorage. The issuers of bitcoin do not gain anything the way governments do. Seignorage is the difference between the cost

As I understand it bitcoin has no seignorage. The issuers of bitcoin do not gain anything the way governments do. Seignorage is the difference between the cost of production - for paper money it's very low - and the value that is bought with the money. In the case of bitcoin, they are about the same and any difference doesn't go to the designers or to the issuing network. The network is "paid" in cpu cycles (electricity) and spits out roughly the same value in bitcoins. But giving more power to the network doesn't make them come out any faster. In short, unlike governments who use inflation of fiat money as a very regressive wealth tax of last resort, the runners of bitcoin aren't getting rich off this.