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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] -54 points 5 months ago (12 children)

Equivocating cryptocurrency, block chain tech, and bitcoin is disingenuous to say none of that exists like fairies or Santa Claus. It exists just as much as PGP or AES or the deficit does. It's dumb to think any of that is going to launch you to extreme wealth or solve everyone's problems, but it is a good way to try to prevent governments from using that currency issuance power in ways their citizens would prefer they did not.

Even if you don't agree with the politics it is a pretty interesting technology for consensus building between potentially adverse participants. Someone with experience maintaining open source repos could at least appreciate that aspect.

[–] [email protected] 33 points 5 months ago (7 children)

it is a good way to try to prevent governments from using that currency issuance power in ways their citizens would prefer they did not.

And instead it should be hedgefunds that have that power?

There is a need for currency and someone is going to have control over the value of that currency. At least with the government you can vote the bastards out.