25 Sep '12, 4am

Had to step into the fray. A new post on Bitcoin and Morality with a capital M: #bitcoin

I was hoping that I wouldn’t have to write this, but it just keeps happening. Bitcoin — the most successful electronic currency — is consistently framed as being amoral. Let’s think about why currencies are not compatible with morality. An unethical or amoral use for a unit of exchange says nothing about the unit, and everything about the user. Those who don’t understand Bitcoin seem to think its uses make it good or bad. Cash, silver, gold, diamonds & bitcoins: These are units of value that can be used to purchase things no matter how the larger society perceives them. The fact that you can buy drugs, guns, and assasinations, with Bitcoins is indisputable. Bitcoin was not built for the narrow purpose to purchase ‘illicit’ things. Teddy bears, maple syrup and beef jerky are all for sale. It was built to be a secure network of exchange, secured by the computing power of its...

Full article: http://moneydick.com/2012/09/24/bitcoin-and-morality/

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