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Author Topic: Re: Is Bitcoin ethical?  (Read 182 times)
dexterbit
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April 07, 2018, 09:51:01 AM
 #1

We know that ethics and sustainability are in the eye of the beholder. What one person thinks is ethical or sustainable may be different to someone else.Depending on which side of the fence you sit, there is an argument that the anonymity that Bitcoin transactions bring are a benefit to heavily surveillance societies. But at this stage it isn’t clear if Bitcoin is just creating a new wealth gap, present across a younger tech-savvy generation.
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April 07, 2018, 09:55:38 AM
 #2

It is an opportunity for the young to use their technical knowledge and invest early to get rich later in life. The property boom is over and the older population benefited from it. Now it is the time for crypto to boom so they'd better get on board now before it is too late.

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April 07, 2018, 10:01:49 AM
 #3

I’m not a tech savvy person even I’m still young and most that I know in this field of investment. We are just ordinary citizens and that is the advantage of cryptocurrency, you don’t need have to be the well educated person to be wealthy.  

Ethical standards in stock market doesn’t even present what more in a revolutionary coin that is created to face and destroy the righteous entitled banker officials that who thinks they have the right to abuse us.
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April 07, 2018, 10:02:11 AM
 #4

But at this stage it isn’t clear if Bitcoin is just creating a new wealth gap, present across a younger tech-savvy generation.

no bitcoin is not doing that at all.

bitcoin like many other things in this world is a new technology that is gaining popularity and because of that and also the fact that there is usage for bitcoin, it is gaining value.
those who took the huge risk of investing sooner are getting the reward for their risk. that doesn't change the "wealth gap". these people are wise enough to make money even without bitcoin.

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April 07, 2018, 10:04:15 AM
 #5

It's an emotionless tool. Such things do not have ethics. It's those pesky humans who ruin everything. And if they find a millimetre of advantage they'll open it until it's a mile wide.

And yes, I think it'll create a wealth gap. Some people are just doomed to hand over their money to others no matter what form that money takes.

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April 07, 2018, 10:07:51 AM
 #6

yes, as long as we are not using bitcoin in scam or any fraudulent transactions that will harm other people then I could say the bitcoin is ethical. As we all know, anonymity is present here. one can always hide his identity which will make it easier for scammers to transact their business.
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April 07, 2018, 10:09:42 AM
 #7

Bitcoin is neutral. Same as cash. It's up to users how it's used. To make it ethical, must always use properly and legally. In order to make earnings more gladly.
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April 07, 2018, 11:12:25 AM
 #8

From what I see you're seeing getting rich as unethical? Is that it OP?
You mentioned anonymity as a positive factor and the younger generation becoming rich as the negative one. In my understanding of ethics you aren't supposed to take advantage of others, but ethics have nothing to do with equality. Live and let others live.

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April 07, 2018, 11:18:00 AM
 #9

We all need to be responsible in our own action. Bitcoin will only be unethical if one abuses this new system of currency. Cryptocurrencies has been conceptalize to improve the present system.

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April 08, 2018, 08:09:43 PM
 #10

Ethics is a very relative concept but according to me bitcoin is definitely ethical. It is a chance for young people who are very enthusiastic and knows about technology very well to earn from bitcoin and become rich at this young age. This is an investment opportunity for those those enthusiastic youth who loves to take risks.
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April 08, 2018, 09:32:50 PM
 #11

Bitcoin doesn't create any bigger gap for wealth person, in fact BTC is the one that going to narrow that gap, there are a lot chances to make profit from BTC and there are no limitation for anyone to invest in BTC, and Bitcoin is just a tool, it doesn't harm anyone to used it


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April 08, 2018, 09:34:57 PM
 #12


Nobody is going to get rich overnight with 0.00001 currency, let's work to make that capital increase and believe in the potential of cryptomoedas

Bigger capital can make good profit even in the short run but if you have small amount to start then better to be more patient and hold on it in the long run. We should keep on supporting this kind of technology so the next generation can still enjoy this amazing technology.
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April 08, 2018, 09:50:48 PM
 #13

all anonymous about rich is relatively relative how we see it so bitcoin is a relative thing and not for the young. smart and memumnpuni in technology all can join and enter the world of bitcoin good, it is different, country, tribe, religion, old and young just every job will not turn a person to rich unless the person is trying to be himself changed

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April 08, 2018, 09:56:26 PM
 #14

Compared to the fiat money system, bitcoin is surely more ethical. Yes, the haters accuse bitcoin of being used for illegal activities, but illegal activities always existed and will exist. We are teached that money should be transparent, but who benefits by this religion? Exactly, the authorities that rob our hard worked money. I say an anonymous payment method is ethical and protects us somehow from the robbery system.
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April 08, 2018, 10:17:56 PM
 #15

I think the bitcoin is ethical. Because Bitcoin has many advantages, namely fast, secure and free to send a value to friends or family both local and international. In addition, bitcoin is great for online purchases.
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April 08, 2018, 10:21:42 PM
 #16

We know that ethics and sustainability are in the eye of the beholder. What one person thinks is ethical or sustainable may be different to someone else.Depending on which side of the fence you sit, there is an argument that the anonymity that Bitcoin transactions bring are a benefit to heavily surveillance societies. But at this stage it isn’t clear if Bitcoin is just creating a new wealth gap, present across a younger tech-savvy generation.
Tech-savvy generation influences much by what they see in hypermedia. They are not anymore conservatives about what they are looking from it. New generations seem to be unethical because of technology. Addiction and unawareness bring to the evilness of the youth. Technology is not used as a guide to progress, have an ethics and value the cultural identity of generation.
I don't think how bitcoin integrates in ethics since, ethic is more on morality, dignity and reputation of human being. But the way it make sense for me is that, new generation can build up there future by the help of technology specially, the bitcoin.


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April 09, 2018, 12:27:50 PM
 #17

Just because people are making profit with it doesn’t make it unethical. People are using their knowledge and skill to earn Bitcoin. People are buying with their earned fiats. They ain’t robbing somebody or any banks. Nope, I don’t think it’s unethical.
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April 09, 2018, 01:01:47 PM
 #18

Bitcoins is merely a tool, on it's own.. it is neither good nor evil, ethical or unethical.

Much like a hammer or screw driver or even a car.

A hammer as a tool can be used to knock nails into wood or be used to chisel away at a piece of wood to create a beautiful sculpture, or it can be used to build a beautiful home for a family. - A hammer  can also be used to bash someone's head in, rob them and kill them.  - The hammer remains a hammer..the person wielding the hammer is either good or bad...

Even a car, it can provide transportation to someone who needs to medical attention urgently..or it can be used to ram into innocent pedestrians. The car on it's own is neither good or  evil, ethical or unethcial..it remains a car...the driver is either good or bad.

Same applies to Bitcoin and other crypto's....
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April 14, 2018, 04:43:09 PM
 #19

I think bitcoin is a tool for investment and transactions, so bitcoin has a positive side and a negative side. So ethically whether or not bitcoin is not a problem is the ethics of bitcoin users themselves, using bitcoins for positive or negative, such as for investment / trading or used for crime.
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April 14, 2018, 04:59:24 PM
 #20

Now it is the time for crypto to boom so they'd better get on board now before it is too late and This is an investment opportunity for those those enthusiastic youth who loves to take risks. We should keep on supporting this kind of technology so the next generation can still enjoy this amazing technology . And  that's all
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