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

submitted 4 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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[–] piecat@lemmy.world 17 points 4 months ago* (last edited 4 months ago) (2 children)

When you invest in a company, you make products and sell them to customers.

You mean, executives with "fiduciary responsibility" take extremely irresponsible actions to "maximize shareholder profits" and gut the company that produces those products such that the product is minimally viable, borderline shit, and might even kill the end user (Boeing, Tesla, GE, etc etc). Oh and jobs and the economy are on the line too, so that's great.

[–] KevonLooney@lemm.ee 6 points 4 months ago (1 children)

All of that is way more productive than crypto because something actually gets produced. Crypto is literally only gambling and scams, plus it's bad for the Earth. And I have nothing against gambling, it's the fact that vulnerable people lose tons of money thinking it's an investment.

Plus actual gambling is way more fun.

[–] piecat@lemmy.world 1 points 4 months ago

You're not making the gambling more productive, you're making the production worse.

[–] Zacryon@lemmy.wtf 3 points 4 months ago

That's why you need to think about the company you're going to invest in.

Your critique is accurate for too many companies, yes. But by far not for all.