quotingOur old WEF buddy is at it again on this bitcoin is a system of distrust thing.
nevent1q…5w2u
> When I say that Bitcoin is a currency of distrust, I'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 – but that doesn’t change the fact that the preference for Bitcoin is based on distrust of human institutions. Why is this an alarming development? Because the whole purpose of money is to create trust between strangers. Financial devices like currencies, bonds and shares – 90% of which are just data in computers – build trust between millions of strangers, who can then pool their knowledge and resources together, and cooperate. Humans control the world because we learned to do this. If we now lose trust in human institutions, this will limit the amount of money and handicap economic activity and cooperation. I hope that humanity finds a way to build trustworthy human institutions, instead of adopting technologies of distrust.
#bitcoin #trust #distrust #crypto #currency #humanity #institutions #money #finance
Original tweet: https://x.com/harari_yuval/status/1792934757325553797
Jeff Swann on Nostr: The banks & govts & the legacy financial system are not trustworthy. People who are ...
The banks & govts & the legacy financial system are not trustworthy. People who are trustworthy don't mind if you want to verify that they are being honest. It's only the liars & the cheats who need your trust to operate.