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Linux Inventor Says He Doesn’t Believe in Crypto (u.today)

submitted 5 months ago by [email protected] to c/[email protected]

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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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[–] [email protected] 2 points 5 months ago (1 children)

Why not? Couldn't crypto be enabling money laundering on a massive scale?

[–] [email protected] 5 points 5 months ago

This one is a bit old, but... https://medium.com/@MUBC/privacy-coins-debunking-myths-about-illegal-usage-9150c49a31a7

I can't find it at the moment, but I saw a report for 2023 or 2024 that something like 0.4% of all crypto transactions are illicit activity. So that would mean roughly 1.9 million people use it for such activity, which is a far cry from 400 million.