Abstract

Scharding argues that Bitcoin is unethical on Fichte’s view because its instability makes it unable to guarantee that users can afford what they need to live. She contrasts Bitcoin with currencies controlled by central authorities that can guarantee their stability. Allison objects that not all centrally controlled currencies are stable and not all non-centrally controlled currencies are unstable. I clarify that both stability and a means of securing stability are necessary, but not sufficient, for a currency to be ethical.