Technology

59440 readers

3424 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1597

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

submitted 6 months ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

672 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] Knock_Knock_Lemmy_In@lemmy.world 8 points 6 months ago (1 children)

On the other hand, scams rarely last 16 years.

[–] baru@lemmy.world 12 points 6 months ago (1 children)

No clue how long scams usually last, but famous ones easily last multiple decades, though funny how unclear if is when the scam started:

https://en.wikipedia.org/wiki/Madoff_investment_scandal?wprov=sfla1

Federal investigators believe the fraud in the investment management division and advisory division may have begun in the 1970s. However, Madoff himself stated his fraudulent activities began in the 1990s. Madoff's fraudulent activities are believed to have accelerated after the 2001 change from fractional share trades to decimals on the NYSE, which cut significantly into his legitimate profits as a market-maker.

Alerted by his sons, federal authorities arrested Madoff on December 11, 2008.

[–] Knock_Knock_Lemmy_In@lemmy.world 2 points 6 months ago

Madoff was hidden. Bitcoin is out in the open.

I think "bubble" could be a better description. Bitcoins bubble pops regularly every 4 years.