this post was submitted on 20 May 2024
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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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[–] shortwavesurfer@monero.town -1 points 6 months ago (1 children)

Inflation occurs when governments print money and so with these cryptocurrencies, at least the good ones, the amount that is printed is known in advance and will never exceed certain boundaries. So even though the greedy people may wish to print more for themselves, they cannot do it because the system will not let them. And right now the system is perfectly happy to let them and fuck everybody else.

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

That is such a poor understanding of how inflation works but I suppose it's par for the course when talking to a cryptobro

Have a nice day

[–] shortwavesurfer@monero.town 1 points 6 months ago

You do the same. Have a wonderful day.