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

submitted 5 months ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

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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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[–] TheGrandNagus@lemmy.world 5 points 5 months ago* (last edited 5 months ago) (2 children)

Translation: actual currencies can be used to purchase energy, but cryptocurrency cannot.

What you're saying is precisely like saying "I know a guy that trades turnips for money. Therefore turnips are a great currency that you can buy anything with."

[–] LotzaSpaghetti@sh.itjust.works 2 points 5 months ago (1 children)

Thank you Nagus for your financial insights.

[–] TheGrandNagus@lemmy.world 2 points 5 months ago

The only currency I give a damn about is gold-pressed latinum, damn it!

[–] shortwavesurfer@monero.town -3 points 5 months ago (1 children)

Sure, you can't buy energy with crypto directly yet. But that would make total sense for a power company to accept crypto in the future.

[–] TheGrandNagus@lemmy.world 2 points 5 months ago (1 children)

If it made sense they'd be doing it, no?

[–] shortwavesurfer@monero.town 1 points 5 months ago (1 children)

Not yet, the government has their regulatory screws too deep into them, so they can't innovate like that.

[–] TheGrandNagus@lemmy.world 1 points 5 months ago (1 children)

Where are these laws that state energy companies cannot accept crypto as payment?

[–] shortwavesurfer@monero.town 1 points 5 months ago (1 children)

I don't know of any laws specifically against them accepting it, but I think it's probably demand-based because only about one-fourth to one-fifth of US citizens use crypto currently. I think that number will grow over the years.

[–] TheGrandNagus@lemmy.world 1 points 5 months ago (1 children)

So no laws them. And 25% of the US using crypto. That's surprising. Got any proof of that? That seems remarkably high. You could even say unbelievably high.

[–] shortwavesurfer@monero.town 1 points 5 months ago (1 children)

Thank you. I'm glad you pointed out my mistake. That 25% is world use of crypto, not just US.

https://cointelegraph.com/news/american-adult-crypto-use-dropped-2023-fed-survey

[–] TheGrandNagus@lemmy.world 1 points 5 months ago

No they don't lmao. Do you really believe that? That 1 in 4 people use cryptocurrency?