CultureTrust

Trust, That We Need More Of

Bitcoin grants individuals the chance to create more trust through the rebuilding of social capital and economic stability.(This article is part of a two-article series from Karo Zagorus. The previous article in the series can be found on Citadel21.com in Volume 10 under the name “Trust, The Lack Of.”)Fiat money has evolved into a disease which created an environment that seeped into the foundations of society. Last time, we looked at the direct effects of money, what it can create that self reinforces our environment into evil cycles that indirectly affect human trust. It is not the institutions’ and individuals’ goals to abuse our trust, their behavior is indirectly enabled and reinforced by the environment it is present in.This problem directly affects cognition — we turn more selective with who we trust and how we form our connections. Social capital is required for a properly functioning society, and it is what is depleting today. Imagine social capital like energy in a mobile game that forces you to wait until it gets refilled over time. Now, imagine if people would operate the same way. It works exactly the same way, if you are out of it, you at least need some money to raise your time preference in order to refill your energy meter to continue doing activities. But it’s a bit too simplified that way, truth to be told, because it can create way too many consequences if it depletes.Robert D. Putman, in his book titled “Bowling …
Story continues on Bitcoin Magazine

Related posts
Culturehyperbitcoinization

Dear 20-Somethings, Bitcoin Is Sound Money

An open letter to a generation entering the workforce with the chance to own the scarcest and best-performing asset of all time: bitcoin.It is not the objective of this article to explain the Bitcoin protocol nor to convince you of…
Culturegoldvalue of bitcoin

It’s Time To Rethink The “Intrinsic Value” Of Bitcoin

The criticism that bitcoin has no “intrinsic value” is a misunderstanding of the very term. In fact, Bitcoin is intrinsic value.“Bitcoin has no intrinsic value.” This frequently heard criticism is, for Bitcoin’s critics, the ultimate kill shot — the irrevocable…
CultureMiningPakistan

Pakistan To Build Two Mining Farms As Government Looks To Participate In Bull Run Directly

A government minister overseeing new cryptocurrency policy in Pakistan said that a local province will build two hydroelectric mining farms.According to a report from Reuters, Pakistan’s Khyber Pakhtunkhwa province is planning to build two hydroelectric-powered pilot cryptocurrency mining farms. Though…