Anarchy in Money ~ on the Ethical Economics of Bitcoin
An act is morally righteous only when it is chosen voluntarily, as there is no violation of property rights and Natural Law. The free market is a complex network of sovereign individuals engaging in mutually beneficial exchange. A money is the store of value, medium of exchange and unit of account chosen by free market participants. As money is half of every transaction, it is of enormous importance to the economy and society at large. A monetary network which is based on voluntary action and with no systematic theft is both economically and morally righteous.
Bitcoin is a money that emerges out of the free and peaceful market, with sovereign nodes declaring their individual monetary rules, presenting themselves to a network of peers and enforcing consensus rules. With a hard and predictable monetary base and equal opportunity for any individual to enter the market of money production, there is no institutionalized theft via inflation. Thus, Bitcoin is true market anarchy and freedom.
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