He hits all the usual stories that everyone knows, such as the emporer with no clothes. He mentions how common knowledge leads to logic puzzles, as I predicted. But his attitude towards the bitcoin blockchain is curious.
The Bitcoin blockchain is the modern digital codification of common knowledge. Every ten minutes or so, the whole world has to reach a common understand of what transactions are being accepted. The blockchain is a protocol for doing that, and it is popular because it does not require a central bank or other authority.
No, Pinker does not see it that way. He says Bitcoin is a form of the "greater fool theory," which connects to other financial bubbles and manias. He argues there is no good reason to trust blockchain technology.
In short, Pinker's new book uses the frenzy around cryptocurrency as an illustration of his core concept, not a vindication of the technology. For Pinker and other critics, blockchain does not offer a novel, "trustless" form of common knowledge, but rather exploits human psychological tendencies to create a speculative bubble built on a deceptive premise.
This is surprising. He jumps on every other example of common knowledge, whether it supports his main points or not. And yet he eschews the biggest example of them all.
It is funny that he accepts that fiat money has value based on common knowledge, but not bitcoin. My guess is that he is more inclined to accept knowledge if it has the backing of human authorities, not computers.
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