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Bitcoin is the new diamond, perhaps even more unethical and irrational.
by mikehines 9y ago
Bitcoin is the new diamond, perhaps even more unethical and irrational.
- ccozan 9y agowhile I could agree that bitcoins are forever, I can't imagine putting one on a ring ... except maybe a NFC Ring[0]. [0] http://nfcring.com/ http://nfcring.com/
- headmelted 9y agoFair. People forget about the drugs, guns and human-trafficking that built Bitcoin. It may have started as a response to the corruption in the banking system, but that's not how it got to where it is now.
- mrwong 9y agothe US dollar finances the biggest war machine on this planet how the f is that ethical? Last time I checked 99% of street drugs are sold for USD. Please dont start withe propaganda “muuhh freedom” People can keep using USD or monopoly money as much as they want. But please be quite to tell people what is good or bad for them. USD lost 80% of value in the last 30years. And it will happen again. So where is the bubble?
- celticninja 9y agoGuns and human trafficking have never really been bitcoins main use case. Now drugs, drugs definitely are.
- mattmanser 9y agoHow would you know?
- mmjaa 9y agoIts all there in the blockchain. Can't do THAT with greenbacks ..
- DennisP 9y agoMaybe they are but I've never seen evidence for it, even though there was plenty of evidence for drug traffic. It's easy to make an evidence-free claim that can't be proven false, but that doesn't mean the claim is true.
- geezerjay 9y ago> Maybe they are but I've never seen evidence for it, That's how money laundering works. The criminal says he accepts a token as a payment method for an illicit deal, and states where these tokens can be purchased for a fair price. The customers proceed to spend their cash on these tokens to then perform the transaction on the black market. Subsequently the criminals sell these tokens for cash to their next customers. That's how Japanese organized crime launders their earning with pachinko parlours, that's how drug dealers in the US use Tide detergent, and that's the only real-world use of these so called "cryptocurrencies" such as bitcoin.
- kbody 9y agoPeople will see what they want to see. Like one could see Internet as pretty much the sole thing that enables child pornography and causes immeasurable damage. Also, pretty sure Cash and Banking trumps Bitcoin in all of the following: terrorism, human-trafficking, drugs. Shell companies and weird schemes having been used and are used for a long time. Final note, I argue that a lot of Venezuelans and Zimbabweans are thankful Bitcoin exists and they are not destroyed by the irresponsibility of governments.
- Retric 9y agoWith 20+$ transaction fees nobody is using Bitcoin for day to day expenses. On net people are also caught through the Banking system, so you need to look at the ratio of net good : net bad. In that context it's hard to see any real value in Bitcoin as it exists today.
- maehwasu 9y agoShockingly, it turns out that there are people in Venezuela and Zimbabwe who have demand for unconfiscatable/uninflatable stores of money beyond daily transactions.
- Retric 9y agoIt costs more than 40$ to store then retrieve value. That's unfavorable for the vast majority of people in those countries and not cost effective for those with means.
- akvadrako 9y agoThe ability to buy the drugs you want online is the best thing Bitcoin has done for the world. It's a small market though.
- georgemcbay 9y agoThere's also a rather absurd amount of energy burned up on the mining and transactions.
- kowdermeister 9y agoWhat does a cryptocurrency has to do with ethics?
- croon 9y agoWith an attitude like that, nothing in your life has to do with ethics.
- kowdermeister 9y agoThanks for the in-depth analysis.
- geezerjay 9y agoIt was very easy to get the point. What part didn't you understood?
- kowdermeister 9y agoApparently nothing. So can we say Excel is also unethical?