Bitcoin: The Only Moral Money

“Bitcoin fixes this” is the greatest and most truthful meme to come out of the Bitcoin community. The emergence of Bitcoin does not exist in isolation. All the pillars of society and all the factors of the economy are interconnected. My very own thesis suggests that money or *monetary networks* can serve as the operating system of not only the micro and macro levels of the economy but the civilization as a whole. Money is a unit of account; it is the measurement of the value we provide to our brothers and sisters in our community (economy). Money serves as the tool for economic calculation, it allows the users of the said monetary network to plan their finances and thus their economic and social lives. Lastly, money serves as a store of value, in that sense, money is one of the very few “basic human rights”. Economic individuals work hours to produce value, and in return they must acquire value to store for themselves. It is a right because it allows them not to be unpaid slaves. This is what gives them incentives to be productive & creative. With all that being said, one can conclude that money is related to every aspect of our daily lives. “Bitcoin fixes this” is not only a meme, if the money is ‘immoral’, the consequences are dreadful on all of society. But how does Bitcoin not fall under the umbrella of “immoral money”? What makes Bitcoin moral & different from all the money our ancestors used before us?

Humans Will Always Have Immoral Tendencies

“He without sin among you, let him cast the first stone” — John 8:7

What can happen will happen. Humans, in most cases, have all the incentives to be corrupt when left without any accountability for their bad behaviour. If a certain human was to be responsible for the operating system of the civilization, which is as argued above, the monetary network in place, then there is a high probability that the said network will be corrupt. Moreover, if corrupting the network directly benefits its protectors, then it is double the trouble. In many instances, corruption stems from lack of competence, but more commonly corruption stems from incentives. In other words, corrupting the network might be undesirable for their protectors, but their protectors are too incompetent to protect it. Incompetence is human nature; human mistakes are inevitable. What is even more dangerous is when corrupting the network is specifically desirable for their protectors. This is how immoral money gets born, and that is from the inevitable immoral human behaviour. However, morality is lindy. Christian values are lindy. No matter how much we try to destruct what morality is and try to come up with our own subjective views of what is right and what is wrong, all the values laid down to us, from supposedly God himself, will always be the ultimate truth. And moral men understand this, they know that drifting away from the teachings of God will lead to, in this specific case, the destruction of civilization.

“Do not trust in princes, in mortal man, in whom there is no salvation” — Psalm 146:3

Emperor Nero, The Man who Debased The Roman Denarius & Aureus

More often than not, theocratic monarchs of old did not engage in corrupting the monetary network which they were protectors of, but here is the dilemma, many times they did, and the consequences were dreadful to the overall perception of morality in society. When the infrastructure of civilization is immoral, the said society will breed immoral men. Which brings us to the fact that humans will always have immoral tendencies, and the fact that God is not a being on earth and in my own view, not interventionist at all. God gave us the freedom to be Immoral, however he warned us of the consequences of such acts. Some men chose to listen, and others chose not to. Thus, how can we leave the fate of civilization in the hands of the wicked and immoral? Shouldn’t moral men shield themselves from immorality?

Immorality vs Fake Morality

“My house shall be called the house of prayer; but ye have made it a den of thieves.” — Matthew 21:13

Monetary Networks that depend on human morality to function properly are in danger more than ever in today’s day and age.

As mentioned above, in the days of the theocratic monarchs, the protectors of the monetary networks had perfect understanding of what is right and what is wrong. This understanding was derived from Christian teachings. And they based the laws of every aspect of civilization on those teachings. The people of the civilization built their entire lives on this specific infrastructure. An infrastructure completely objective in regards of morality. The protectors of the monetary network calculated their next move based on the following, if you do the right and honest act, you will get rewarded, but if you do the wrong and deceitful act, you will be punished. Therefore, the act of debasing the money or as we are calling it here “corrupting the monetary network” was considered an immoral act thus “immoral money”. Debasement of currency is direct theft, and theft is simply wrong or that was our perception of it in the objective sense of morality. It is immorality.

Fake Morality is when we, as society, try to pass an immoral act as moral. Monetary Networks of today are protected by such men who deceive us with their fake morality, which explains why the said networks are in complete danger of total collapse. Modern protectors of the operating systems of civilization are constantly putting effort in explaining to us that debasing the money (corrupting the monetary network) is good for us. According to them, theft from individuals is for the greater good of society. It is not. I elaborate on this idea more in my article “Producers vs Money Producers, The Only Two Classes". Theft is theft, what is wrong is wrong. This is how morality works. There is no “but”. The incentives for being immoral far outweigh the incentives to be moral in this case. From the lens of the founders of civilization, aka the civilians (the bottom of the pyramid), our effort to sustain it will go to waste if its infrastructure is based on immoral money. This is how Bitcoin Fixes This, by being an absolute Moral Money.

Bitcoin as Moral Money

Bitcoin does not have one protector, but everyone protects it.

As mentioned above, monetary networks required specific single human protectors to keep them operating. And we established that humans can and will be immoral. Thus, it is highly likely that the protection of the monetary network will fall in the hands of wickedness and evil. Under Bitcoin, the said monopolist protector is not needed to keep the network running, in fact the network is protected by its own users, who use their nodes to verify everything that takes place. Therefore, Bitcoin is moral and honest money. Every transaction executed on the network since its inception can be verified by anyone and anywhere in the world when given access to electricity and the internet. The incentives to make Bitcoin immoral do not exist. All the incentives point towards making Bitcoin moral, but even if they were to be bypassed somehow, the users, who are constantly auditing the network, will not allow anyone to drift from the original protocol laid out by Satoshi Nakamato.

Bitcoin cannot be inflated.

In the old monetary networks, the protectors had all the incentives to become cantillionaires by expanding the monetary supply or debase the currency and pocket the newly created money. This is impossible with Bitcoin. We will only have 21 million Bitcoins ever. No one has the incentives to or even can increase the supply of Bitcoin beyond that. The act of money debasement, which is theft as we established above, is an act of immorality made impossible. This is what makes Bitcoin moral money, as in its protectors cannot use their position to steal from other participants in the network aka the whole of civilization.

Bitcoin cannot be confiscated.

Confiscation is theft; therefore, it is an act of immorality. In the old monetary networks, especially those which entirely function on central banking, confiscation of money is a great threat to the users. Since all the money of civilization is deposited in centralized banks. These banks which are run by the protectors of the monetary networks, can simply steal the money of the network participants and keep it to themselves. With Bitcoin, the users of the network can be their own bank. They can hold their own keys and only those who have access to the keys can access the Bitcoin. The keys can be stored in the mind of the holder of the Bitcoin. Good luck trying to penetrate the human mind. Bitcoin is anti-confiscation. Bitcoin is anti-theft. Bitcoin is moral money.

The Immoral Civilization & The Emergence of The Bitcoin Civilization

When moral money, Bitcoin, is the operating system of civilization, objective morality will inevitably stream down to society.

The fact that in our current civilization systematic theft (inflation) exists in all its justified forms, made us far more immoral and allowed us to justify our immoral ways. We shifted our understanding of wealth accumulation form an act of self-fulfillment and sustainment to an act of constant competition with our fellow men. A match up which we have to win by all means. Humans must go beyond and above their own ways to accumulate wealth. Because someone else is stealing from us, we justify stealing from others. We say this is how things are and it is just business as usual. In the extreme sense, when you are hungry, stealing a loaf of bread becomes justifiable. However, it should not be, theft is an immoral act, which we were forced into by immoral money. And Bitcoin is moral money which humans will be forced into by an unbearably immoral civilization. The Bitcoin Moral Civilization will emerge out of great desperation. Strong men whose times were made hard by an immoral past will create good times, times that will be sustained forever. The Bitcoin Moral Civilization will be built on incorruptible infrastructure that will make objective morality a must. Making our operating system moral will project to every single pillar of society. Bitcoin will fix civilization.

Inspired by the book “Thank God for Bitcoin”



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Hard Money, Bitcoin, Lebanon, Austrian Econ, History, Hodler