this post was submitted on 20 May 2024
1597 points (97.2% liked)

Technology

60033 readers
2920 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 2 years ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
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.
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 0 points 7 months ago (1 children)

That's faith in a business not money

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

It's fiat currency, the value of which is determined by faith in the market and stock prices.

You think your money has worth because it's backed by something real? No. It has worth because people think it does.

Edit: if everything about the USA stayed the same, but people stopped believing the USD was worth anything and started using Euros instead, the dolar would be worth nothing. It's all based off feels.

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

Again it's because businesses make revenue, i.e. Fiat money and people trade that money and exchange it for things etc...