A Philosophical Case for Bitcoin with Bradley Rettler - WBD656

Bradley Rettler is an Associate Professor of Philosophy, and a
member of the Resistance Money, a philosophy research collective
focused on Bitcoin. In this interview, we discuss the potential
ethical implications of AI, philosophical reflections on money
creation and governance, the importance of financial literacy,
and combating misinformation about Bitcoin. 


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One of the important groups to emerge within the Bitcoin
community over the past few years has been the philosophers
studying Bitcoin, led by members of the Resistance Money
collective: Andrew Bailey, Bradley Rettle and Craig Warmke (with
Troy Cross as an honorary member). They have added academic
weight to the consideration of the importance of Bitcoin in the
context of fundamental questions regarding money’s role in
society. 


The Resistance Money collective has been examining Bitcoin from
various angles. In the episode, Bradley discusses moral dilemmas
posed by a material global transition to this new form of money:
the transfer of wealth, energy consumption impacts, the
acceptance of privacy for bad and good, and usage by enemies. In
addition, considerations about the benefits provided by fiat
currency that could be lost: e.g. is there a useful societal
function provided by money printing? 


But this is where philosophical tools are extremely useful. In a
previous episode, Craig Warmke explained the usefulness of the
‘veil of ignorance’ thought experiment, where one assumes they
have no knowledge of what position in society they would have,
and, from this position, they then determine what monetary system
would best serve society for the great good. It is this
perspective that is used to establish the Resistence Money thesis
on Bitcoin.


In a scenario where you could fall into any position in society,
it would obviously be better that Bitcoin existed. It is the
philosophical equivalent of checking your privilege. Whilst
Bitcoin’s potential impact on society is complex and uneven, it
is far easier to understand how Bitcoin acts to mitigate global
inequality and inequity when assuming a scenario where you need
it and it doesn’t exist.