21 sats \ 3 replies \ @grayruby 4 Oct \ parent \ on: The ethics of borrowing in fiat, in order to buy bitcoin bitcoin
Abusing might not be the right word but you are taking advantage of the unethical system because you know it requires persistent devaluation of the money. But you bring up a fair point. By borrowing fiat you are contributing to the expansion of the money supply which could potentially harm others. This monetary supply expansion will happen with or without your involvement and your involvement is a mere blip but I think philosophically it is a reasonable question. I guess it comes down to if you think the positives outweigh the negatives.
You alone are indeed a blip, but all the blips together make the majority of the inflation of the money supply.
Getting loans and shorting fiat is NOT the same thing. That would be the same (because it is) as saying that robbing someone to then go buy btc. Is it still ethical? Of course not. Never was, and never will be, regardless if there are other that also do it.
It's like that old saying: raping doesn't magically become a good thing just because the majority supports it.
reply
Getting loans to buy bitcoin is essentially shorting fiat.
Your robbery analogy sucks. Taking out a loan is not taking something that doesn’t belong to you. It is borrowing something that doesn’t belong to you that you must give back.
If you want to argue it is unethical fine but your robbery analogy and rape quote is just stupid.