Yuval Harari Sparks Debate on Bitcoin as 'Currency of Distrust'; Satoshi Nakamoto Weighs In

Yuval Harari has sparked a debate by labeling Bitcoin as a 'currency of distrust.' Harari argues that Bitcoin assumes we shouldn't trust human institutions to create money, and he hopes for the development of trustworthy institutions instead. Bitcoin proponents counter that the cryptocurrency eliminates the need for trust in centralized authorities, allowing for independently verified transactions without counterparty risk. They argue that Bitcoin's design addresses the historical breaches of trust associated with fiat currencies. Satoshi Nakamoto once stated, 'The root problem with conventional currency is all the trust that's required to make it work.'