Is the dollar ethical?

Is it ethical that there are 2 billion unbanked in the world?

Is printing $8 trillion dollars in one year ethical knowing that it'll bring hyperinflation and destroy people savings?

Is it ethical that poor people pay 20% commision on remittances?

Are gold mining or the banking industry environmentally friendly?

Does the Fiat money have any intrinsic value?

Bitcoin might not be perfect but it's clearly an improvement on this corrupt, inefficient and obsolete system of Fiat money.

While in traditional finance wealth is concentrated in the top 1%, for bitcoin that goes to 12%.

Bitcoin Is more transparent, more democratic, more censorship resistant than any other asset out there.

Printing money is theft, is that ethical? Bitcoin has a limited supply that can never be increased. If you are not aware of the dangers of inflation, visit Venezuela.

Millions of people who can't access a bank in Nigeria, Venezuela or Sudan are now using bitcoin. Go and tell them it's not ethical.

You might not appreciate the benefits of bitcoin being a white privileged man with three bank accounts and 7 credit cards, but outside the first world they are desperate for a currency that can help them escape poverty, that can hold some value and that can not be confiscated by the government.

Bitcoin is the biggest hope for the developing world and adoption is happening really fast.

Bitcoin uses plenty of electricity (0.1% of global supply) but compare that to the banking industry with thousands of buildings over the world, with all the security involved and all the transport of money and people. And then you have gold mining.

With bitcoin you have a bank in your pocket. No buildings, no travelling and no air conditioned offices. Just a few servers running some code.

As for the intrinsic value. No currency or financial asset have any intrinsic value. Not the dollar, not gold and not shares. It's all an idea we all agree on. Money has value only because we all believe on it. In this sense bitcoin has the same intrinsic value than the dollar: none.




Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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Alberto Guerrero

Alberto Guerrero

Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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