I agree that intentions are likely to be the ultimate determiner of the morality of holding Bitcoin in each individual's case.
Your statement about the creation of Bitcoin as an alternative to unsound money seems to be where there is the most possibility for error. The end of creating escaping the fiat system cannot be used as a justification to engage in speculation around Bitcoin. That said, I agree with you that it seems most serious Bitcoiners are seeking a more just monetary system more so than personal gain.
The closest analogy to Bitcoin would seem to be gold. Gold as a money is arguably best when transactions are carried out in gold coin, but it would not seem to be immoral to hold gold as a store of value. It has some intrinsic value and is thus the opposite of speculative when used as such. Likewise with Bitcoin, though I doubt whether it has intrinsic value in the same way gold does.
buttercat1791 / Michael J
npub1wqf…qsyn
2024-05-05 06:54:27
in reply to nevent1q…t3cp
Author Public Key
npub1wqfzz2p880wq0tumuae9lfwyhs8uz35xd0kr34zrvrwyh3kvrzuskcqsynPublished at
2024-05-05 06:54:27Event JSON
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"content": "I agree that intentions are likely to be the ultimate determiner of the morality of holding Bitcoin in each individual's case.\n\nYour statement about the creation of Bitcoin as an alternative to unsound money seems to be where there is the most possibility for error. The end of creating escaping the fiat system cannot be used as a justification to engage in speculation around Bitcoin. That said, I agree with you that it seems most serious Bitcoiners are seeking a more just monetary system more so than personal gain.\n\nThe closest analogy to Bitcoin would seem to be gold. Gold as a money is arguably best when transactions are carried out in gold coin, but it would not seem to be immoral to hold gold as a store of value. It has some intrinsic value and is thus the opposite of speculative when used as such. Likewise with Bitcoin, though I doubt whether it has intrinsic value in the same way gold does.",
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