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  • Linus Torvalds, creator of Linux, does not believe in cryptocurrencies, calling them a vehicle for scams and a Ponzi scheme.
  • Torvalds was once rumored to be Bitcoin creator Satoshi Nakamoto, but he clarified it was a joke and denied owning a Bitcoin fortune.
  • Torvalds also dismissed the idea of technological singularity as a bedtime story for children, saying continuous exponential growth does not make sense.
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[-] SchmidtGenetics@lemmy.world 9 points 1 year ago* (last edited 1 year ago)

Haven’t multiple governments accepted it as real currency at this point? The arguments are valid, but fall flat when you actually look into each.

Hell diamonds are valuable because of artificial scarcity, so that’s a wrench in every precious metal argument….

[-] dustyData@lemmy.world 35 points 1 year ago* (last edited 1 year ago)

Yeah, El Salvador, people from there told me quite recently that it's not at all what the government propaganda is trying to sell. Nobody uses Bitcoin and it is only accepted by a few state institutions. As for Venezuela, we had Petros for a while, now the shitcoin has been completely phased out and discontinued since nobody but a few oligarch used it to launder money.

[-] Ciderpunk@lemmy.world 29 points 1 year ago

The only two countries that accept bitcoin as a legal tender are noted powerhouses El Salvador and the Central African Republic… not exactly world leaders.

[-] MeekerThanBeaker@lemmy.world 6 points 1 year ago* (last edited 1 year ago)

And crypto is more stable than some governments' real currency. It's been a life saver for some people.

It's also a lot faster for transactions than normal banking when sending money to people in other countries.

It's still in the early days... like email in the late 80s / early 90s. It should get better, but there's so much crap and scams out there right now. It's still very much the wild west. It's like Wall Street on acid.

EDIT: people downvote but don't say what was wrong. Awesome.

[-] NotMyOldRedditName@lemmy.world 3 points 1 year ago

They downvote the truth and/or facts when they are contrary to the hive mind.

[-] SchmidtGenetics@lemmy.world 1 points 1 year ago* (last edited 1 year ago)

The circlejerking and hive mind on Lemmy is shockingly worse than Reddit somehow. Not what I ever expected.

this post was submitted on 20 May 2024
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