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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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[-] AI_toothbrush@lemmy.zip 7 points 1 year ago

I think crypto does have its place in anonymous transfers and stuff like that but the current form of crypto isnt that. First of all it would need to be something stable and crypto is everything but stable.

[-] Furbag@lemmy.world 7 points 1 year ago

I don't believe in crypto either because it's current value is solely derived on how much you can exchange it for real money. Outside of a few edge cases, nobody buys anything with crypto outside of the black market.

I'm sure crypto is a great solution to some finance problems related to centralized banking that I'm too lazy or dumb to care about, but I look at the energy consumption to calculate these massive chains for little tangible benefit, and the scammers and hypemen who are profiting off of other people's hopes and desires to get rich quick on the next big boom, and I can't help but feel like it's an actively harmful element of society. At the very least, whatever regulations are currently in place that are attempting to reign in crypto are insufficient at reducing harm.

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[-] Wilzax@lemmy.world 7 points 1 year ago

If Torvalds was Satoshi he would have done a lot more with those untouched bitcoin than let them sit around for more than a decade

[-] flop_leash_973@lemmy.world 7 points 1 year ago

Crypto is a textbook example of why we as a society can't have nice things. To many people are selfish and self serving, and not enough people are willing to ostracize those types of people from society for such actions.

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this post was submitted on 20 May 2024
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