Bitcoin is a Currency of Distrust, Says 'Sapiens' Author
CryptoNewsTerminal Staff21 May, 2024
Bitcoin is a Currency of Distrust, Says 'Sapiens' Author
Yuval Noah Harari, the best-selling author of 'Sapiens,' tweeted on Tuesday that "Bitcoin is a currency of distrust." "There may be good reasons not to trust central banks and governments that create fiat currencies like the dollar or the yen, but it doesn't change the fact that the preference for Bitcoin is based on distrust of human institutions," he explained. Harari went on to say that financial devices such as currencies, bonds, and stocks are 90% just computer entries but that they help build trust among millions of strangers so that they can pool resources and cooperate. "Humans rule the world because we learned to do this. Losing faith in our human institutions will handicap our ability to collaborate and economize." "I for one hope that instead of resorting to the technology of distrust, humankind will find ways to create trustworthy institutions," he concluded.
