Ethical implications of the use of Bitcoin

kamvreto

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Quote from: Uhwuchukwu53 on March 22, 2024, 12:17:48 PM

Quote from: memequiserle on March 09, 2024, 10:04:52 PM

there are no implications for ethics. because ethics is a behavior related to manners. and bitcoin is a currency as well as real money fiat money so there is no relationship with ethics. ethics are formed not because of bitcoin but people already have their own ethics to treat bitcoin like what.

I Stand to be corrected, is there any special ethics for Bitcoin if I am to answer I may say no because bitcoin is Open to any one who is willing and ready to invest, there is no restrictions to any as long as it's a due process of investment just as others investment like Fiat. I think what is called ethics us generated buy behavior of investor and and speculators, we all know bitcoin is digital currency could that be the ethics?

There is no real code of ethics on how to invest in Bitcoin. everything is free and it is a decentralized market. Everyone can dispose of what they own for profit and everyone has the right to buy anything. Bitcoin is just a digital currency that will not be affected by ethics or anything else.

Uhwuchukwu53

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Quote from: memequiserle on March 09, 2024, 10:04:52 PM

there are no implications for ethics. because ethics is a behavior related to manners. and bitcoin is a currency as well as real money fiat money so there is no relationship with ethics. ethics are formed not because of bitcoin but people already have their own ethics to treat bitcoin like what.

I Stand to be corrected, is there any special ethics for Bitcoin if I am to answer I may say no because bitcoin is Open to any one who is willing and ready to invest, there is no restrictions to any as long as it's a due process of investment just as others investment like Fiat. I think what is called ethics us generated buy behavior of investor and and speculators, we all know bitcoin is digital currency could that be the ethics?

348Judah

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We need to i identify the need to why we have to adopt the use of bitcoin first in our financial economy, then locate the aspect of it in which we think we can make the very best delivery in our own capacity and learning will not be a barrier, most of us are just into some things we less have passion for, but when there is desire for knowing it, such will make a positive impact through the way we approach and use it, bitcoin should serve us at least one or two of the reasons why it was created, but we have to understand how and through what means.

FinePoine0

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Actually it's good to make topic here referring to any aspect, but OP you are not confident in yourself you didn't present your request properly. So we don't exactly mention how we can help and we can't give you any advice either. So you still have a chance to add so your quick to add exercises to your topic.

Dorkylickjj

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Quote from: serjent05 on March 06, 2024, 06:14:05 PM

Bitcoin to pay for purchases may be disadvantageous to the buyer, .
.

With holding being the best course of action for bitcoiners, (also taking note of you saying it's self responsibility,) and direct purchase being a great action line for holders, this being disadvantageous is really a big blow. Is there really no way around it? That's without trading coming in, or does it have to?(that is, to stay in the rosy side)

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Quote from: memequiserle on March 09, 2024, 10:04:52 PM

there are no implications for ethics. because ethics is a behavior related to manners. and bitcoin is a currency as well as real money fiat money so there is no relationship with ethics. ethics are formed not because of bitcoin but people already have their own ethics to treat bitcoin like what.

Bitcoin and each person's ethics are indeed unrelated because each person's ethics have been formed since they started growing up, even for people who don't know Bitcoin and you also say things that are quite reasonable. But how can OP ask about that here or maybe OP has seen bad ethics in one of the Bitcoin users through his environment, I also don't know because from what I know Bitcoin users do have better ethics and are also quieter without making quite a mess.

Marvelman

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Yeah. This whole guess the ethical issue thing does make you scratch your head. But maybe we could turn it into something more meaningful? Bitcoin and crypto raise so many fascinating questions about the role of technology in society.

For example, how does decentralization change power dynamics? Can code ever truly replace laws and regulations in guiding human behavior? Heck, does math itself have an ethical dimension if it enables new social structures?

Lots to unpack there! But you're right just blurting out discuss!! without context is lazy.

pooya87

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Quote from: JimboToronto on March 10, 2024, 12:57:02 AM

Quote from: memequiserle on March 09, 2024, 10:04:52 PM

bitcoin is a currency as well as real money fiat money

That's an oxymoron. Bitcoin is real money, not that crap that governments can print any time they want.

Majority of people don't know the definition of money and its difference with currency which is why terms such as "fiat money" exist.
In short money is currency that is also a store of value.

JimboToronto

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Quote from: memequiserle on March 09, 2024, 10:04:52 PM

bitcoin is a currency as well as real money fiat money

That's an oxymoron. Bitcoin is real money, not that crap that governments can print any time they want.

memequiserle

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there are no implications for ethics. because ethics is a behavior related to manners. and bitcoin is a currency as well as real money fiat money so there is no relationship with ethics. ethics are formed not because of bitcoin but people already have their own ethics to treat bitcoin like what.

aoluain

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Quote from: JimboToronto on March 08, 2024, 08:17:50 PM

Quote from: aoluain on March 08, 2024, 07:40:04 PM

I'm wondering if the OP is asking about the ethics of Bitcoin in a negative sense?

There have been a few posts claiming that Bitcoin isnt fair because its so expensive
now and the price is being driven up, and a lot of people got Bitcoin in the early days
for next to nothing, they make these points as if it is unethical.

I've seen claims that Satoshi's Bitcoin should be re-distributed, almost that it is
unethical that they are just locked away. There are a lot of ethical discussions and some
ideas are not ethical at all but some people think they are.

I'm sorry but I don't see anything unethical about being informed enough to find out about Bitcoin early, being smart enough to acquire it early, and being strong and smart enough to patiently hold during the ups and downs while weaker people panicked and sold.

If anything is unethical it's wanting to re-distribute other people's Bitcoins.

I'm on the same page as you Jimbo, as are the vast majority thankfully.

JimboToronto

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Quote from: aoluain on March 08, 2024, 07:40:04 PM

I'm wondering if the OP is asking about the ethics of Bitcoin in a negative sense?

There have been a few posts claiming that Bitcoin isnt fair because its so expensive
now and the price is being driven up, and a lot of people got Bitcoin in the early days
for next to nothing, they make these points as if it is unethical.

I've seen claims that Satoshi's Bitcoin should be re-distributed, almost that it is
unethical that they are just locked away. There are a lot of ethical discussions and some
ideas are not ethical at all but some people think they are.

I'm sorry but I don't see anything unethical about being informed enough to find out about Bitcoin early, being smart enough to acquire it early, and being strong and smart enough to patiently hold during the ups and downs while weaker people panicked and sold.

If anything is unethical it's wanting to re-distribute other people's Bitcoins.

aoluain

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Quote from: JimboToronto on March 08, 2024, 12:53:37 AM

Quote from: Dorkylickjj on March 06, 2024, 09:08:02 AM

Speculate on this topic. Let's gather the knowledge of the legends here.

The most important ethical implication of Bitcoin ownership is decentralization, followed by pseudonymity.

Breaking the centralized stranglehold of banks, governments and other corporations on money is the greatest benefit of Bitcoin.

There is no freedom without anonymity and while Bitcoin is not totally anonymous, its pseudonymity is a step in the right direction.

There is nothing ethical about banks, governments, churches and other corporations. They are based on greed.

and I'm wondering if the OP is asking about the ethics of Bitcoin in a negative sense?

There have been a few posts claiming that Bitcoin isnt fair because its so expensive
now and the price is being driven up, and a lot of people got Bitcoin in the early days
for next to nothing, they make these points as if it is unethical.

I've seen claims that Satoshi's Bitcoin should be re-distributed, almost that it is
unethical that they are just locked away. There are a lot of ethical discussions and some
ideas are not ethical at all but some people think they are.

Maus0728

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Quote from: pinggoki on March 06, 2024, 10:56:34 AM

You know what would also make this much more better and would attract more people to do some discussion? Adding some sort of meat and bones to the topic, contribute something to the body of the topic so people will know what the hell you're talking about, people don't want to be doing guessing games you know, best if you just delete this or edit the thread and add something.

Calm down, OP's a newbie, give him the time for this kind of things, I'm sure that OP will eventually learn how to do it right but I do agree with you, a topic should at least have the opinion of the original poster because it's not really a good idea to have some kind of discussion without a context. The best that someone can do in this kind of situation would be to just learn, that's it. I don't think that deleting the topic could be a good idea though, it creates nothing of value if you do that anyway. As others have said already, better if OP edits this topic and add his thoughts and opinions so the discussion can finally start.

mk4

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Quote from: pinggoki on March 06, 2024, 10:56:34 AM

You know what would also make this much more better and would attract more people to do some discussion? Adding some sort of meat and bones to the topic, contribute something to the body of the topic so people will know what the hell you're talking about, people don't want to be doing guessing games you know, best if you just delete this or edit the thread and add something.

This lmao. It's just like starting a barebones thread with the content only being "is bitcoin good or bad? discuss". Like, where the hell would you start?

My brother in Christ — OP, it's not too late to edit the thread and give us something to actually start with. In terms of energy? Hackers? Scammers? Tax evasion? WHAT.

JimboToronto

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Quote from: Dorkylickjj on March 06, 2024, 09:08:02 AM

Speculate on this topic. Let's gather the knowledge of the legends here.

The most important ethical implication of Bitcoin ownership is decentralization, followed by pseudonymity.

Breaking the centralized stranglehold of banks, governments and other corporations on money is the greatest benefit of Bitcoin.

There is no freedom without anonymity and while Bitcoin is not totally anonymous, its pseudonymity is a step in the right direction.

There is nothing ethical about banks, governments, churches and other corporations. They are based on greed.

serjent05

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I think the title itself is the topic, unlike other newbies that ask questions on the title but giving answers to their posts, this one looks like it is what it is... This is somehow broad but then think when we are asked about the possible consequences of using Bitcoin and with Ethical means in the moral basis.

From that idea, I think I can give some, using Bitcoin to pay for purchases may be disadvantageous to the buyer, they might get scammed by the seller if the seller wanted to exploit them because Bitcoin transactions are not reversible. That has in negative connotation but on a positive note, sellers are safer dealing with their buyers since the chargeback exploit cannot be used when a person pays in Bitcoin.

In, addition, the lack of central authority gives its users no protection at all in times of hacks and exploits since there is no one to go after, holding Bitcoin is self-responsibility.

In addition here is an article that tells about ethical implication of cryptocurrency: https://www.binance.com/en/feed/post/455970, this a pretty good read since it discusses the ethical concerns about Privacy, Anonymity, and Criminal Activity concerning cryptocurrency.

AprilioMP

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Quote from: Dorkylickjj on March 06, 2024, 09:08:02 AM

Speculate on this topic. Let's gather the knowledge of the legends here.

I think you can gain knowledge from seniors by following their discussions on every active discussion board.
They are there with a wealth of knowledge that makes it easier for us to get it.

For technical discussions, please visit the thread.
Regarding Bitcoin in general, you can visit the Bitcoin Discussion thread.

With various activities, perhaps this topic will be devoid of discussion because there is nothing in the content that you want to address for what purpose and what it is about.
Wide range of knowledge. If you provide a clear purpose for this topic, they will come to it according to the needs of the discussion.
Picking up knowledge is better than waiting.

Using Bitcoin, if you want to use it as a currency like a transaction tool, you can as long as you can do it.
If you want to use it as an investment asset, many users use it.
What now?

Lida93

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Quote from: Dorkylickjj on March 06, 2024, 09:08:02 AM

Speculate on this topic. Let's gather the knowledge of the legends here.

What's the topic all about, you didn't fill us with details on what your topic demands, that could serve as a guide in discussions from fellow members as to what direction your topic might actually be focusing.

You can use the edit button on the left
top corner your post and do the needful

Lost of funds through the hacking of one's wallet or the exchange used in hodling our bitcoin. Also, criminal are using bitcoin for the wrong purpose therefore giving it a negative outlook to society since it can't be regulated or controlled by the government in catching these criminals easily as would if it were fiat. i think these are some of the implications of the use of bitcoin I can think of as regarding against ethical usage.

348Judah

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Quote from: pinggoki on March 06, 2024, 10:56:34 AM

You know what would also make this much more better and would attract more people to do some discussion? Adding some sort of meat and bones to the topic, contribute something to the body of the topic so people will know what the hell you're talking about, people don't want to be doing guessing games you know, best if you just delete this or edit the thread and add something.

Or maybe he should add them as well to the content of the thread in other for us to know where exactly to channel the discussion on, he himself is not saying much and should expect less from others as well who will be contributing on this discussion.

My take, the use of bitcoin has no wrong ethical implication neither does it gives the impression on such, though people may decide on interpreting bitcoin as otherwise, but it still remains a valuable digital asset and cryptocurrency everyone is running after for financial privacy and profitability as most importantly.

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