New technology, and especially these new digital currencies are like the gold rush. At the beginning you have criminals moving west, murdering, stealing. Outlaws robbing miners, lawlessness. But before too long, towns grow up, sheriffs move in, and everybody kicks out the outlaws. And before too long you wind up with San Francisco (Stephenson). It wasn’t the gold that was the moral problem there, though there are certainly those would argue the ‘money is the root of all evil’ line. The problem is adaptation, not unethical technology. It just takes time, and if digital currency catches on in a lasting way, its lawless days will be nothing more than a footnote.
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