[Charles Hoskinson criticizes World Economic Forum contributors’ stance on Bitcoin as “incompetent”]

Cardano founder Charles Hoskinson recently slammed World Economic Forum contributor Yuval Noah Harari on X for his comments about Bitcoin and crypto assets. Hoskinson criticized Harari’s analysis as being full of the “Dunning-Kruger effect,” implying that he failed to correctly understand the core value of Bitcoin due to professional incompetence.

Furthermore, Hoskinson’s criticisms have been widely supported by the crypto community. They unanimously oppose the traditional financial community’s resistance to emerging technologies and regulatory unfairness.

Harari once said that the reason why Bitcoin was created was based on distrust of central institutions: "We don't trust banks and governments, and we don't want them to have unlimited power to print money, so we created Bitcoin."

He also believes it would be beneficial to increase the power of governments and banks to create money, which would build more trust in society. Harari also expressed pessimism about the future of electronic currencies.

Many crypto users support Hoskinson’s stance, arguing that Bitcoin’s decentralized nature as a hedge against inflation allows it to escape government control, rather than as a government-printed currency, as Harari puts it. More money builds trust.

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