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

submitted 7 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] 0 points 7 months ago* (last edited 7 months ago) (1 children)

Meanwhile, there’s about 1000 currencies that aren’t talked about for every currency with any weight behind it.

Who cares? It's an open source tech. If people want to gamble on random shitcoins, that's not the fault of the technology.

There are probably 10000 worthless video games for every few that are good. That doesn't mean video games are terrible.

Also there are scams. But there are scams with the dollar too in fact many many more. People need to be aware and defend themselves.

It's almost impossible for me to feel any sympathy for people who bought NFTs. Really that's the fault of the buyer not the underlying tech.

Sure crypto is kinda terrible but you need to consider the alternative: state paper. It suffers all the same deficiencies but even worse. Literally destroying the planet.

[–] [email protected] 1 points 7 months ago

To my understanding, the older cryptographic currencies are the energy consumers. Newer models have avoided the massive energy consumption. A.k.a Proof of Work vs Proof of Stake.