this post was submitted on 20 May 2024
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1597
Linux Inventor Says He Doesn’t Believe in Crypto (u.today)
submitted 7 months ago by [email protected] to c/[email protected]
674 comments fedilink hide all child comments
 
  • 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 (1 children)

Oh there's other's? Guess I haven't read enough.

But how to they manage to be decentralised?

[–] [email protected] 0 points 7 months ago (1 children)

Proof of stake is one method I've seen, but I'm sure there are others.

[–] [email protected] -1 points 7 months ago (1 children)

Interesting, but, giving it a quick scan, some of them look like based on personal trust and others feel kinda chicken/egg-ish.
And I may need to read it properly first, but "holdings" feels like you probably need to buy some of it first, presumably using some other currency.

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

Yes, that's the usual criticism. To be able to stake, you need to have currency, promoting a rich get richer kind of scheme.