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

submitted 6 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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[–] englislanguage@lemmy.sdf.org 17 points 6 months ago (1 children)

Cryptocurrencies in general are not anonymous. There might be exceptions, but all I've seen is pseudonymity. And an eternal backlog of every transaction ever, i.e., if your identity gets revealed for a single transaction, it will get you revealed for every transaction you ever did.

[–] shortwavesurfer@monero.town -1 points 6 months ago (1 children)

This is what Monero is designed to fix.

[–] Knock_Knock_Lemmy_In@lemmy.world -2 points 6 months ago (1 children)

No, given that privacy can be turned off.

[–] shortwavesurfer@monero.town 3 points 6 months ago (2 children)

No, it can't. It's built into the protocol and enforced. On other currencies such as Zcash, you can turn off privacy if you wish. But on Monero, it's not possible to opt out at all. You either have privacy or you don't use it at all.

[–] dukethorion@lemmy.world 4 points 6 months ago (1 children)

They downvote because they hate what they don't understand, not because you're incorrect.

To the crypto haters, take a real 5-10 minutes to learn about Monero and see if you can apply the same hate afterwards.

[–] shortwavesurfer@monero.town 3 points 6 months ago

Oh, I know. And for pointing that out, you will get downvoted as well.

[–] dwindling7373@feddit.it 1 points 6 months ago

Or you can record yourself buying stuff holding a newspaper and your ID.