{"id":13719,"date":"2024-05-22T16:15:43","date_gmt":"2024-05-22T13:15:43","guid":{"rendered":"https:\/\/forklog.com\/en\/yuval-noah-harari-criticizes-bitcoin-for-its-core-attribute\/"},"modified":"2024-05-22T16:15:43","modified_gmt":"2024-05-22T13:15:43","slug":"yuval-noah-harari-criticizes-bitcoin-for-its-core-attribute","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/yuval-noah-harari-criticizes-bitcoin-for-its-core-attribute\/","title":{"rendered":"Yuval Noah Harari Criticizes Bitcoin for Its Core Attribute"},"content":{"rendered":"<p>Renowned Israeli philosopher Yuval Noah Harari, author of the international bestseller Sapiens, has labeled digital gold as a &#8220;currency of distrust,&#8221; which does not align with his vision of finance.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">When I say that Bitcoin is a currency of distrust, I&#8217;m just repeating what Bitcoin fans themselves say. There may be good reasons not to trust the banks and governments that create dollars, yens, and other currencies \u2013 but that doesn\u2019t change the fact that the preference for\u2026 <a href=\"https:\/\/t.co\/dntBOWPQhz\">pic.twitter.com\/dntBOWPQhz<\/a><\/p>\n<p>\u2014 Yuval Noah Harari (@harari_yuval) <a href=\"https:\/\/twitter.com\/harari_yuval\/status\/1792934757325553797?ref_src=twsrc%5Etfw\">May 21, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;There may be good reasons not to trust the banks and governments that create dollars, yens, and other currencies \u2014 but that doesn\u2019t change the fact that the preference for Bitcoin is based on distrust of public institutions,&#8221; he noted.<\/p>\n<\/blockquote>\n<p>In his view, this is a worrying trend, as money should create &#8220;trust between strangers.&#8221; Existing financial instruments like currencies, stocks, and bonds are aimed at enabling people to pool knowledge, resources, and collaborate, Harari believes.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Humans control the world because they have learned to do so. [\u2026] I hope humanity finds a way to build trustworthy public institutions instead of adopting technologies oriented towards the opposite,&#8221; he stated.<\/p>\n<\/blockquote>\n<p>The philosopher emphasized that in today&#8217;s economy with division of labor, the function of the financial system is to create trust.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Initially, there was very little trust in institutions like banks and governments, so money was minted from gold. Since precious metals were scarce, this limited the amount of money and hindered economic cooperation,&#8221; he added.<\/p>\n<\/blockquote>\n<p>General partner at Castle Island Ventures, Nic Carter, commented that Harari &#8220;literally inverted everything.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">You have this literally inverted <\/p>\n<p>The point of hard money is to facilitate trade between mutually nontrusting counterparties; that\u2019s why gold and silver were the settlement medium for global trade historically and not IOUs <\/p>\n<p>Bitcoin is just the modern version for a world in\u2026<\/p>\n<p>\u2014 nic carter (@nic__carter) <a href=\"https:\/\/twitter.com\/nic__carter\/status\/1792952260210594020?ref_src=twsrc%5Etfw\">May 21, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The point of hard money is to facilitate trade between counterparties that do not trust each other. That\u2019s why historically gold and silver were the settlement medium for global trade, not IOUs. Bitcoin is just the modern version [of precious metals] for a world where fiat is a tool of control and power projection,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>MicroStrategy founder Michael Saylor <a href=\"https:\/\/x.com\/saylor\/status\/1792971083240325274\">responded<\/a> to the philosopher, stating that humanity has already found a way to create trustworthy institutions, which are called &#8220;Bitcoin technology.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We don\u2019t necessarily distrust. We seek to verify. Only <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> allows for verification at all levels of the system. When you understand that, the rest will fall in place.<\/p>\n<p>\u2014 Samson Mow (@Excellion) <a href=\"https:\/\/twitter.com\/Excellion\/status\/1792970922707825035?ref_src=twsrc%5Etfw\">May 21, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We don\u2019t necessarily distrust. We seek to verify. And only the first cryptocurrency provides this at all levels of the system. When you understand that, everything else will fall into place,&#8221; supported similar views CEO of JAN3, Samson Mow.<\/p>\n<\/blockquote>\n<p>In May, the author of the bestseller &#8220;Rich Dad, Poor Dad&#8221; and entrepreneur Robert Kiyosaki once again predicted the collapse of the dollar and urged investment in Bitcoin, gold, and silver.<\/p>\n<p>Prior to this, JPMorgan CEO Jamie Dimon <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-ceo-labels-bitcoin-a-fraud-and-ponzi-scheme\">again labeled<\/a> the cryptocurrency as a fraud and Ponzi scheme.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renowned Israeli philosopher Yuval Noah Harari, author of the international bestseller Sapiens, has labeled digital gold as a &#8220;currency of distrust,&#8221; which does not align with his vision of finance. When I say that Bitcoin is a currency of distrust, I&#8217;m just repeating what Bitcoin fans themselves say. There may be good reasons not to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138],"class_list":["post-13719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"63","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13719"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13718"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}