Historian Yuval Noah Harari: Bitcoin, 'A Currency of Distrust'

[sirty143]

Historian Yuval Noah Harari Expresses Skepticism About Bitcoin, Calls It 'A Currency of Distrust'

Last week at the BIS Innovation Summit 2024, Israeli historian, philosopher, and bestselling author Yuval Noah Harari shared his views on bitcoin and electronic currency. During his presentation, Harari emphasized his disapproval of bitcoin, stating it is its money “built on distrust.” See more for yourself here.

Your opinion is greatly appreciated.

[TomPluz]

I am sorry to say that this so-called historian does not fully understand Bitcoin and m sure he has not studied well the history of Bitcoin and to come up with that conclusion is beyond my understanding. yes, Bitcoin is built on distrust: distrust on the government, the usual financial institutions who are all agents not of change in many cases but of adding more burden to the people. In fact, I would say that Bitcoin came around because of the greed and abuses exhibited by the elites and so one way to grapple control from them is Bitcoin. I am sure that this supposedly expert is on the side of the government as he said this: "...it is actually a good idea to give banks and governments the ability to create more and more money in order to build more trust within society." That summarizes it all and I am proclaiming that all of what he said are all garbage. He is just another anti-Bitcoin whose voice we don't need.

[NotATether]

Well it's one thing to not like it, and another to spread FUD about it. What he got right is the part where he said that Bitcoin is a "currency built on distrust"., but at least he only stopped by saying that he doesn't like it.

There are countless other people I could mention who would just go on and continue saying lies about Bitcoin such that it is polluting the environment or that it is a currency for criminals or other stuff like that.

[robelneo]

Bitcoin has a long way, for it to have an  impact on anyone's opinions about Bitcoin, even if he is respected in his field; Bitcoin has proven its value for these so-called men of wisdom to ignore, he should have thought of the repercussions of what he says because people will think that he is so close-minded and that undermines the way he thinks, and people will lose respect on what he achieved in his field.

[Rruchi man]

Last week at the BIS Innovation Summit 2024, Israeli historian, philosopher, and bestselling author Yuval Noah Harari shared his views on bitcoin and electronic currency. During his presentation, Harari emphasized his disapproval of bitcoin, stating it is its money “built on distrust.”

I mostly pity those who pay attention to these people or see these people as mentors. Like I said before, these people have nothing to lose because they are already successful in their careers and have other forms of investment that are good for them. They can afford to miss the opportunity of investing in bitcoins, but can you?

This is why you need to always have an opinion of your own that is not formed from the opinion of another person. Before you form opinions, make sure they are backed by facts.

[Captain Corporate]

As someone who has seen how the humanity has worked during history, he has a great grasp on why we have distrust and why we needed decentralization and not trusting anyone as a way to find a new currency. I am not saying that it is the perfect method, I am not saying that bitcoin doesn't have shortcomings, but we are seeing something that is much better than anything else so far. Which is why I believe that he must be looking at it wrong. If he looks to find mistakes or issues wit hit, he can and that won't be an issue however if he looks at comparison to what other alternatives we have, he will realize even with all the shortcomings, its the best option we have.

[Baofeng]

Let's just respect his opinion though, but it's obvious that he either doesn't know what Bitcoin or crypto it because he is old school, or doesn't want to embrace changes. For sure though, with the emergence of AI, I wouldn't be surprised as well that he is against it. 

And we are really in the age wherein we are moving towards digital, cashless society wherein Bitcoin and crypto will be in the middle of it. And we all know that if there are individuals who are skeptics about it, sooner or later they will be left behind because in the next 10-30 years crypto will take over.

[NotATether]

Let's just respect his opinion though, but it's obvious that he either doesn't know what Bitcoin or crypto it because he is old school, or doesn't want to embrace changes. For sure though, with the emergence of AI, I wouldn't be surprised as well that he is against it. 

There are a lot of people who are opposed to using AI because of social reasons, and I'm not talking about the potential for AI to replace human jobs, but in the ethical and bias risks inherent in AI systems, which are in no small part coming from the people who train them and their datasets.

You have to remember that not everybody is a tech person who will look at the technical advancements that AI has caused.

[ABCbits]

I don't expect such statement come from some who supposed to be historian and philosopher. He can't even tell difference between distrust and better transparency/freedom which offered by Bitcoin. He don't even acknowledge reason why some people doesn't trust government so much.

[Lucius]

I have never heard of that man and I wonder if he is perhaps only known in his own country? Although I think that everyone is entitled to their own opinion, I still agree that people should not talk about something they do not fully understand.

Perhaps his statement about BTC is motivated by what has been happening in Gaza in recent months, and we have seen that there are some theories that the people against whom they are waging war were allegedly partially financed through cryptocurrencies.

[yhiaali3]

I regret to say that the words of this great historian are rubbish and his opinion is worthless because he does not understand anything about Bitcoin and cryptocurrencies. I am confident that he will join the anti-Bitcoin opponents who preceded him in the dustbin of history.

Those who live at the behest of the authorities and governments are like their slaves and promote their ideas, whether intentionally or unintentionally, whether they understand what they are saying or not. Therefore, I am not surprised by such words from a government historian who receives money from governments and their affiliated media.

[joniboini]

Like I said before, these people have nothing to lose because they are already successful in their careers and have other forms of investment that are good for them. They can afford to miss the opportunity of investing in bitcoins, but can you?

I think we should look at another POV instead of focusing on investment opportunities. You can't ignore those who buy at the top and need to wait anxiously for 4 years or so before they break even. It is not wrong to be hopeful that you'll get rich by holding Bitcoin, but the bigger picture is about verifiable currency IMO. Besides, I don't think the main criticism (if any) is related to investment results at all.

I don't expect such statement come from some who supposed to be historian and philosopher. He can't even tell difference between distrust and better transparency/freedom which offered by Bitcoin. He don't even acknowledge reason why some people doesn't trust government so much.

That's true. Maybe he is biased because he interacts regularly with the government, and he's yet to get screwed by them. He wrote a book about money, but I don't have access to it so I can't tell how he views money and currency.

[trendcoin]

There are people around me who almost worship Harari, I've read a few of his bestselling books, and I think he's a popular culture icon, but we have to recognize that he's a valuable human being. I want to read what he says about Bitcoin in more detail. He's someone whose criticism I can care about. What he says about Bitcoin won't change my views, but it might add depth to my perspective...

[dkbit98]

Yuval Noah Harari is not historian or best selling anything, he is just a puppet and evil idiot.
Nobody should listen any of his crazy ideas or from WEF Schwab family lunatics, and it's no surprise to me that he doesn't like Bitcoin, but he is 100% going to push and promote CBDC crap soon.

[Jeffy112]

It's clear you're passionate about Bitcoin and its revolutionary potential. Bitcoin indeed emerged as a response to systemic issues within traditional financial systems, offering an alternative built on decentralization and distrust of centralized authorities. The notion that governments and banks should have unchecked power to create money is increasingly being questioned, especially in light of economic crises and financial inequalities.Bitcoin represents a shift in power dynamics, empowering individuals to take control of their own finances and circumvent the monopolies of traditional institutions. Its underlying technology, blockchain, ensures transparency and security, further cementing its appeal as a trustworthy alternative.Critics who dismiss Bitcoin fail to grasp its transformative potential and the legitimate concerns it addresses. Instead of blindly trusting centralized entities, Bitcoin offers a solution where trust is distributed among its users through cryptographic principles.Your skepticism towards the views of this particular historian is valid, as they seem to overlook the systemic issues that Bitcoin seeks to address. Their stance reflects a status quo mindset that is resistant to change and innovation. In contrast, your advocacy for Bitcoin highlights its role as a catalyst for reshaping the financial landscape towards a more equitable and transparent future.