Re: Is Bitcoin ethical?

[hurriebra49]

It is just illegal use not reality of everyone holding, this is reality some peoples are using bitcoin for illegal purposes but you don’t say that everyone is using for the wrong purposes, peoples are using for-profit purposes not for terrorists purposes,

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[Ucy]

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.

I agree with the tech savvy part.
I think there are growing number of Cryptocurrencies/Blockchains with  different features that can serve the non tech savvy ones. It is important to make the Blockchains very simple and appealing to more people.

 Hopefully in the future everyone will find those that fits his/her career choice.

[mrcash02]

It's like asking: Are guns ethical? And the answer will be the same: Depend who is using it, for what reason it's being used...
An inanimate object/item can never be ethical or unethical.

The unethical practice related to Bitcoin is that there are people who use it to cause harm to others, to steal, to deceive... However to become rich with Bitcoins in a legit way isn't a shame, but to envy people seems unethical...

[heavenknows]

This is a simple question. If bitcoin is being used in a bad manner like in terrorism, money laundering or other crimes. Then it is unethical. If they are used in paying for products and services, they are considered ethical.

[nieninja53]

Bitcoin is ethical it is depending upon the usage that how to use bitcoin as a money and where you spend it, normally peoples are using it in trading and way of payment but some corrupt peoples are using it in different other ways that make them easy to do illegal transaction that is unfair and very bad with innocent peoples, I think government should take this action,

[rosemary4u]

Bitcoin and blockchain technology was not developed to be unethical. Unethical things are stuffs that causes harm to people or society. On the other hand, Bitcoin is here to help the decentralization of the world.

[penetrak]

BTC is as well as other cryptocurrencies are ethical for me. They have helped many to acquire property and become self-employed in society. The benefits that bitcoin has brought is more like, for example, not subject to inflation, User Anonymity, and Decentralization. From this point of view, it is ethical, but it may become unethical when btc operates on the black market.

[aoluain]

When it comes to investments ethics are abandoned.

There is most certainly going to be wealth gaps created by bitcoin and crypto in general.
As far as investing goes if you have no money or limited funds your crypto holding will be
nominal compared to others who can afford to invest substantial amounts.

Nobody who is going to invest in crypto is going to consider if it is ethical or not, everyone
wants an ROI. It is just normal society and how people think in general.

[pushups44]

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.

Bitcoin is neither ethical nor unethical -- it is simply a tool for people to use, as a form of money that is decentralized. People will misuse bitcoin just as they misuse cash and guns. Banning or shunning bitcoin is the wrong way to go.

[irenegaming]

If you try than you can claim anything as unethical. Take cash for example, terrorists and criminals use it to launder their money but do you hear about people calling cash unethical? No, cause everyone uses it and they wont call something they use unethical. Also since its controlled by governments so it is ethical to them.

[fiulpro]

Ethical ? What are you talking about . Gaps ? Really ? Yes indeed you need to take everything else also into account such as things like :- Gold and Platinum which other rich can afford to Invest in , things like stock shares where you need certain amount of knowledge about investing or other big companies who sells their stocks to only certain people with certain wealth.. it's.. all divided already.
Even the government itself and blaming Bitcoins.. for it is something I don't think I agree with.

[no0dlepunk]

Bitcoin is the only way that I can see right now to reverse the class of society. Millionaires were created, nerds got wealthy, while the late-adapting-middle-class were swallowed.

Therefore, yes it is ethical... as long as all parties voluntarily uses it, whether they win or lose.

[sinsou1906]

Bitcoin is the only way that I can see right now to reverse the class of society. Millionaires were created, nerds got wealthy, while the late-adapting-middle-class were swallowed.

Therefore, yes it is ethical... as long as all parties voluntarily uses it, whether they win or lose.

Yes indeed bitcoin is ethical and surely it will be the best alternative for fiat currency.

[macchiato]

It is an opportunity for the young to use their technical knowledge and invest early to get rich later in life.

I agree. It open doors to opportunities and besides there is no age limit here. The anonymity allows investment even at minor ages. I don't know if that is a bad thing but I guess majority of it isn't. The youth nowadays are open-minded, unlike those who are middle-aged, no offense meant. The millenials are explorers, they find ways to know how the new technology works and that is one good feature that the elders can never get from the youth. Even to stuffs as complex as cryptocurrencies, many young people are allowing themselves to be involved.

[resty]

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.

I don't think this sounds negative, actually we can learn and access it today very easy. The only thing we can do is to work hard on it to be not belong to those people who are in the lower part of the society or help them to somehow have an income.

[Chicryptomama]

The downside i perceive to the subject matter is that bitcoin is quite attractive to illegal sellers,requires so much energy to earn and it could of course be outdated by another technology in the future who knows; other than that i believe the underlying technology on which it is built is superb and could change  a lot of things positively

[zamani12]

bitcoin does not require ethics for its operation. for crying out loud it is a digital currency that operates in a free market, it therefore isnt bound by ethics.
different countries might already have or intend to come up with policies to put crypto trade in check but its also hardly possibles since its a free market as earlier mentioned

[ikilledcobain]

Bitcoin is just a tool - a means to an end. It's a transfer of wealth, which is really just a transfer of work or energy. You can do moral or immoral things with it, but the crypto itself is neutral. The same thing can be said for money, or guns, or any tool that can be used for good or bad.

[rasp]

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

Theoretically, Bitcoin could have given equal opportunities for all the people willing to deal with it.
But in practice, only those who had a start-up capital or were the lucky guys not to lose their private keys from BTC wallets created back in 2009 gained their profit.
At the same time, there is a bunch of ways to earn your crypto without the need of big investment, but takes pretty much time...

[moshk555]

You can consider bitcoin to be a democratic currency that is based on the simple economic principles of supply and demand, the greater the demand of bitcoin the higher the value and the public has full autonomy so it is ethical and more than that it is fair in all means provided.